A Salesforce CPQ Check Up is a comprehensive review of your system’s configuration and performance. It assesses how well your CPQ solution integrates with your business processes, highlighting any gaps hindering your sales efforts. From pricing rules to approval processes, a health check ensures seamless functionality and equips your sales reps with the tools they need to succeed.
Salesforce Revenue Cloud serves as an all-encompassing platform meticulously crafted to enhance and simplify the entire revenue management process for businesses. This cloud-based solution provides a centralized system, facilitating effective management of pricing, quoting, and billing operations. The platform, introduced as part of the Salesforce Customer 360 Platform, integrates Configure, Price and Quote (CPQ), Billing, Partner Relationship Management, and B2B Commerce functionalities. Contrary to an out-of-the-box solution, Salesforce Revenue Cloud does not replace enterprise resource planning (ERP) systems but strives to bridge the gap between critical functional departments like sales, partners, operations, and finance. Its introduction at the end of 2020 aimed to assist businesses in better managing revenue streams, enhancing forecasting capabilities, improving efficiencies, and accelerating growth across all sales channels. Salesforce Revenue Cloud, often referred to as CPQ, enables organizations to unify direct sales, partner sales, and eCommerce, package product bundles, handle complex order configurations, produce invoices across multiple channels, collect payments, and manage dunning. The platform’s benefits include streamlined revenue management, improved business agility, real-time access to mobile inventory and data, and the generation of new revenue streams. In addition to these advantages, Salesforce Revenue Cloud offers better insight into customers, maximizes revenue efficiency, builds a superior buyer experience, and reduces missed opportunities by delivering the right product at the right time to the right place. The platform eliminates manual operations, integrates with existing systems and new applications, and expedites the quote-to-cash process. However, it’s essential to consider certain aspects when opting for Salesforce Revenue Cloud, such as its limitations in handling complex billing needs. While Salesforce provides substantial capabilities for recurring revenue and subscription models, it may face challenges with more intricate pricing models, such as dynamic pricing for one-time charges, usage, tiered, subscription, overages, minimum commitments, or others. In conclusion, the collaboration between CRM and marketing departments, fueled by Salesforce Revenue Cloud, propels an increase in sales and enables a comprehensive view of the customer. As businesses demand a 360-degree perspective, the product-specific gap is expected to narrow further, emphasizing the importance of a unified approach across all company departments. Like Related Posts Salesforce OEM AppExchange Expanding its reach beyond CRM, Salesforce.com has launched a new service called AppExchange OEM Edition, aimed at non-CRM service providers. Read more The Salesforce Story In Marc Benioff’s own words How did salesforce.com grow from a start up in a rented apartment into the world’s Read more Salesforce Jigsaw Salesforce.com, a prominent figure in cloud computing, has finalized a deal to acquire Jigsaw, a wiki-style business contact database, for Read more Health Cloud Brings Healthcare Transformation Following swiftly after last week’s successful launch of Financial Services Cloud, Salesforce has announced the second installment in its series Read more
Restaurant Management Platform Onboards Thousands of Customers Monthly Using Salesforce for Seamless Sales and Service Management SAN FRANCISCO—April 23, 2019—Salesforce (NYSE: CRM), the global leader in CRM, announced today that Toast, the fastest-growing restaurant management platform in North America, has chosen Salesforce to deliver a cohesive and consistent experience for its community of restaurateurs across the entire customer lifecycle. Toast, which supports tens of thousands of restaurants of all sizes, uses Salesforce to establish a single source of truth for customer data. This enables them to enhance internal efficiency, create a seamless buyer journey spanning sales and service, and elevate the overall customer experience. Experiencing tremendous growth—Toast’s revenue surged by 148 percent in 2018—the company outgrew traditional tools like spreadsheets and required a comprehensive view across the organization. They needed access to real-time information across all customer touchpoints. Toast implemented Salesforce to manage everything from service and mobile worker support to delivering quotes and completing customer contracts. With Salesforce, Toast benefits from a unified platform that drives customer connections at every stage of the buying cycle. “Our customer interactions run through Salesforce,” said Jon Dack, VP of Technology, Toast. “Having one unified system across sales and service allows us to provide our customers with the consistent, high-quality service they expect from Toast. Salesforce is the engine that makes this possible.” Today, Toast manages all customer-facing touchpoints on Salesforce. The company uses Sales Cloud to track and collaborate on all sales deals and Salesforce CPQ to automate their quote-to-cash process. This allows them to configure and price complex solutions while maintaining a unified contract record of all customer purchases. Once work orders are generated, Toast uses Field Service Lightning to dispatch mobile workers to customer locations for installation and setup. This system allows centralized communication throughout the process. Mobile workers utilize the Field Service Lightning mobile app to receive customer details, task instructions, add notes, log completed work, and collaborate with colleagues as needed. Toast also uses Community Cloud to build Toast Central, a front-end application that integrates with Salesforce. Toast Central acts as a central knowledge base, customer information bank, and support hub. It allows customers to view and update their account information and track the onboarding process from a single location. “Toast’s customer-first focus is spot on and will serve them well in the long run,” said Bill Patterson, EVP and GM, Service Cloud, Salesforce. “We’re thrilled to be on this journey with them, managing their customer interactions wherever and whenever they occur.” About Toast Founded in 2013, Toast empowers successful restaurants of all sizes with a comprehensive technology platform that integrates restaurant POS, front-of-house, back-of-house, and guest-facing technology with a diverse marketplace of third-party applications. By combining technology with an unwavering commitment to customer success, Toast helps restaurants streamline operations, increase revenue, and deliver outstanding guest experiences. Toast has been recognized in the 2019 Forbes Fintech 50, 2019 SXSW Interactive Innovation Finals, 2018 Forbes Cloud 100, and as the third fastest-growing technology company in North America on the 2017 Deloitte Fast 500. Learn more at www.toasttab.com. Like Related Posts Salesforce OEM AppExchange Expanding its reach beyond CRM, Salesforce.com has launched a new service called AppExchange OEM Edition, aimed at non-CRM service providers. Read more The Salesforce Story In Marc Benioff’s own words How did salesforce.com grow from a start up in a rented apartment into the world’s Read more Salesforce Jigsaw Salesforce.com, a prominent figure in cloud computing, has finalized a deal to acquire Jigsaw, a wiki-style business contact database, for Read more Health Cloud Brings Healthcare Transformation Following swiftly after last week’s successful launch of Financial Services Cloud, Salesforce has announced the second installment in its series Read more
Here is a helpful glossary of quote-to-cash acronyms you will hear in the Salesforce Ecosystem. Acronym Meaning Defintion ACV Annual Contract Value The annual revenue generated from each customer contract, each year. ARR Annual Recurring Revenue The annual revenue generated from all customer contracts (ie. the company-level revenue), a metric used by subscription-based businesses (such as those offering SaaS – software as a service). CLM Contract Lifecycle Management CLM tools manage the complexities of the contract lifecycle: the creation of the contract itself, which can range from a simple, single-page agreement to a massive list of specifications and amendments. Then you have the negotiation process and the approval process. And finally, you must manage the post-approval period, which generally consists of administering the contract, enforcing terms, and data reporting (source). CPQ Configure Price Quote CPQ tools enable sales teams to quickly and accurately generate quotes. Salesforce CPQ is an add-on product that sits on top of Sales Cloud. There are multiple CPQ tools that can be integrated with Salesforce. MDQ Multi-Dimensional Quoting Commonly used for quoting with multiple years/terms/segments where you may have a ramp-up in price over the course of the segments and/or a ramp-up in the quantity of the product being sold. SKU Stock Keeping Unit “A unique number assigned by a retailer to items in their inventory” (source). A SKU in the computer system ties directly to a physical product through a bar code. TCV Total Contract Value The total revenue generated from each customer contract, for all years. For example, a 3-year contract with $1 mil ACV will be $3 mil in TCV. Like Related Posts Salesforce OEM AppExchange Expanding its reach beyond CRM, Salesforce.com has launched a new service called AppExchange OEM Edition, aimed at non-CRM service providers. Read more The Salesforce Story In Marc Benioff’s own words How did salesforce.com grow from a start up in a rented apartment into the world’s Read more Salesforce Jigsaw Salesforce.com, a prominent figure in cloud computing, has finalized a deal to acquire Jigsaw, a wiki-style business contact database, for Read more Health Cloud Brings Healthcare Transformation Following swiftly after last week’s successful launch of Financial Services Cloud, Salesforce has announced the second installment in its series Read more
Creating a sales plan is a pivotal step in reaching your revenue objectives. To ensure its longevity and adaptability to industry’s ever evolving circumstances, consolidating all your sales data in a unified location and utilizing technology for real-time updates is crucial. Here’s a step-by-step guide to crafting an effective sales plan. Agree on a timeline for your tactics and goals: What needs to be completed when, and in what order. What tactics can be worked on concurrently and what tactics have dependencies? Write out your company mission and values to ensure alignment: Integrate with a CRM: Assess team capacity: Identify the target audience and product or service positioning in the marketplace: Evaluate the gap: Create action plans: Present and execute: Continuously adjust: Like2 Related Posts Salesforce OEM AppExchange Expanding its reach beyond CRM, Salesforce.com has launched a new service called AppExchange OEM Edition, aimed at non-CRM service providers. Read more The Salesforce Story In Marc Benioff’s own words How did salesforce.com grow from a start up in a rented apartment into the world’s Read more Salesforce Jigsaw Salesforce.com, a prominent figure in cloud computing, has finalized a deal to acquire Jigsaw, a wiki-style business contact database, for Read more Health Cloud Brings Healthcare Transformation Following swiftly after last week’s successful launch of Financial Services Cloud, Salesforce has announced the second installment in its series Read more
