Salesforce Revenue Cloud Advanced (RLM) is here! Now What?

Here are some key insights we’ve learned that you should know about Revenue Cloud Advanced (RLM)

 

Salesforce continues to evolve its Revenue Cloud Advanced with Revenue Cloud (previously named RLM). This release broadens Salesforce’s focus from managing the sales process to optimizing the entire revenue lifecycle. That’s because Revenue Cloud Advanced is a robust and comprehensive solution that manages everything from opportunity creation all the way through to revenue recognition.  

With Revenue Cloud Advanced, Salesforce steps fully into its unified-architecture future with one revenue engine across Marketing, Sales, Field Service and all of the Salesforce Clouds. The new capabilities Revenue Cloud Advanced enables, including next-level product configuration, are exciting for us as a longtime CPQ system integrator. But Revenue Cloud Advanced is even more intriguing for B2B companies that sell complex products and services with variable pricing structures beyond configuration.  

Even though Salesforce Revenue Cloud Advanced is brand new, Pierce Washington has been fully immersed in it now for many months. We gained early access to Revenue Cloud Advanced and we are one of the only Salesforce Partners to be formally trained on the new software. We’ve also invested thousands of hours into our own Revenue Cloud Advanced deep dive. We did our homework pre-launch to understand the stunning possibilities of Revenue Cloud Advanced and how to migrate to it from CPQ (configure, price, quote) software.  

Read on to see what we’ve discovered. It can benefit your own company’s future revenue transformation. 

These are five specific Revenue Cloud Advanced advancements that we’re most excited about. 

The most outward and visible difference with Revenue Cloud Advanced is that it runs natively in the newer Salesforce Lightning UI. It’s more aligned with the way Salesforce looks now. Therefore, it’s more intuitive to navigate and offers a more seamless user experience. However, beneath the skin of its new interface is where Revenue Cloud Advanced really shines. The following are some of the advancements we are most enthused about.  

1. API-first Architecture 

This is a huge difference with Salesforce Revenue Cloud Advanced. APIs (application programming interfaces) allow software programs to interact with each other. “API calls” send requests to servers for things like product or service information and options. Revenue Cloud Advanced does super-fast API calls which enable more compelling—and converting—customer purchase experiences. For example, you can now offer your customers more engaging visualization in product configuration. Additionally, Salesforce Revenue Cloud Advanced enables B2B companies to customize and personalize their buying experience. This can include tailored product recommendations, dynamic pricing, and personalized offers, based on the buyer’s profile and behavior.  

2. Standardized Product Attributes

Attributes refer to specific characteristics or properties of products, services, or customer data that are used to define, personalize, determine price, and manage offerings throughout the revenue lifecycle. In Salesforce Revenue Cloud Advanced, attributes are generally based on metadata rather than object records as in CPQ. Revenue Cloud Advanced attributes can be tied to object records. Most importantly, they can be created once but used many times and associated with many products. This greatly speeds up product configuration for administrators. Salesforce Revenue Cloud Advanced also gives you a lot more options in terms of how you create and manage your unique product attributes. Therefore, Revenue Cloud Advanced attributes are far more configurable. The mix-and-match aspect of metadata-based attributes in Revenue Cloud Advanced enable more advanced configurations as well as custom revenue recognition rules and pricing models. For example, if you sell computers, you can easily create a memory attribute, a display-size attribute, a processor-speed attribute, and so on. You can then associate those attributes (like memory) with picklists (8GB, 16GB, or 32GB of RAM).  

3. Catalogs and Categories

Another major difference and user-experience upgrade with Salesforce Revenue Cloud Advanced is that you can create and browse product catalogs with categories. In CPQ, products are categorized by the product family picklist on the product record. In Revenue Cloud Advanced, there is a structure to create a catalog (like computers) that can have many definable categories (like laptops, desktops, etc.). Sales reps or customers no longer must scroll through lengthy lists of products. Instead, they can quickly select a catalog then tabs with categories to find the exact configuration needed faster. Less friction translates to more sales and revenue. Additionally, Salesforce Revenue Cloud Advanced enables you to associate an image with product variants for visual confirmation. That’s a clear advantage because, B2B buyers like B2C buyers, want to see what they’re purchasing.  

4. Dynamic Revenue Orchestration

The new ability of Salesforce Revenue Cloud Advanced to handle order decomposition and management through Dynamic Revenue Orchestration enables businesses to break down complex orders into manageable components, automating the distribution and fulfillment processes across various systems and channels. This capability ensures that each part of a customer’s order is accurately tracked, fulfilled, and billed, even when dealing with intricate product configurations or bundled services. By leveraging Dynamic Revenue Orchestration, B2B companies can ensure greater consistency, accuracy, and scalability in fulfilling customer demands. 

5. Enhanced Asset Repository

The enhanced asset repository in Salesforce Revenue Cloud Advanced offers a more robust and centralized system for managing customer assets throughout their lifecycle, from initial purchase to ongoing support and upgrades. This improvement allows businesses to efficiently track and manage complex asset structures, including serialized products, software licenses, and service contracts. The enhanced repository provides a comprehensive view of all customer-owned assets, enabling businesses to offer more personalized services, streamline maintenance processes, and proactively manage renewals and upgrades. For customers, this means improved service accuracy, faster issue resolution, and tailored offers that align with their specific asset configurations. 

 

Other general improvements in Revenue Cloud Advanced that elevate B2B ecommerce. 

Better Revenue Management: 

• Revenue Forecasting: Revenue Cloud Advanced offers advanced forecasting capabilities, allowing for more accurate predictions of future revenue based on various factors such as market trends and historical data. 

• Revenue Recognition: Revenue Cloud Advanced includes robust tools for recognizing revenue in compliance with accounting standards, making it easier to handle complex revenue recognition scenarios. 

Greater End-to-End Visibility: 

• Unified Dashboard: Revenue Cloud Advanced provides a consolidated view of the entire revenue lifecycle. This unified dashboard improves visibility and helps in tracking performance across different stages of the revenue lifecycle. 

• Real-Time Analytics: Enhanced analytics capabilities offer deeper insights into revenue trends, helping businesses make more informed decisions and optimize their strategies. 

Improved Automation: 

• Streamlined Processes: Automation of revenue-related tasks, such as billing, invoicing, and contract management, reduces manual effort and minimizes errors. 

• Workflow Automation: Revenue Cloud Advanced includes advanced workflow automation features that help in managing and accelerating revenue processes, from quote generation to contract execution. 

Enhanced Integration: 

• Seamless CRM Integration: Revenue Cloud Advanced is designed to integrate more seamlessly with Salesforce CRM and other financial systems, ensuring data consistency and reducing the need for manual data entry. 

• Third-Party Integration: Improved integration capabilities with third-party applications and financial tools such as payment gateways, shipping providers, and inventory management systems. This ensures a smooth flow of information between different platforms. 

Enhanced Regulatory Compliance: 

• Built-In Compliance: Revenue Cloud Advanced includes tools to help ensure compliance with various financial regulations and standards, reducing the risk of non-compliance and simplifying audit processes. 

 

Here are some migration insights if you already have CPQ and want to migrate to Salesforce Revenue Cloud Advanced.  

Salesforce Revenue Cloud Advanced and CPQ have some initial overlap, sharing products and price books, but otherwise the two applications run very differently. If you already have a CPQ solution in place, you can build on what you have in a migration to Revenue Cloud Advanced. However, it’s more than a simple lift-and-shift. So, this is the perfect time to reevaluate your situation, determine what’s currently working, and possibly refine some things.  

Migrating from Salesforce CPQ to Salesforce Revenue Cloud Advanced involves a series of steps to minimize disruption to your business operations. Here’s a high-level overview of the migration process. 

 

1. Assessment and Planning

• Evaluate Current Use: Review your existing CPQ setup, including configurations, customizations, and integrations. Identify key functionalities, processes, and data that need to be migrated. 

• Define Objectives: Clearly define what you want to achieve with Revenue Cloud Advanced and how it aligns with your business goals. This will help in setting up the new system effectively. 

• Create a Migration Plan: Develop a detailed plan, including timelines, resources, and milestones. Identify potential risks and mitigation strategies. 

2. Training and Preparation 

• Training: Ensure that your team generally understands the new features and functionalities of Salesforce Revenue Cloud Advanced, so your team can work effectively with a specialized implementation consultant. 

• Documentation: Gather and document your current CPQ configurations, processes, and data. This will serve as a reference during the migration. 

3. Data Migration 

• Data Mapping: Map out how your existing data (e.g., quotes, products, pricing, contracts) will be transferred to REVENUE CLOUD. Identify any data transformation or cleansing requirements. 

• Data Extraction: Export data from Salesforce CPQ using tools like Salesforce Data Loader or custom extraction methods. 

• Data Import: Import the extracted data into Revenue Cloud Advanced. Use Salesforce’s data import tools or work with your implementation partner to ensure data integrity and accuracy. 

4. Configuration and Customization 

• Set Up REVENUE CLOUD: Configure Revenue Cloud Advanced to match your business processes and requirements. This includes setting up revenue recognition rules, pricing models, and workflows. 

• Customizations: If necessary, develop customizations or modifications to tailor Revenue Cloud Advanced to your specific needs. This may involve custom fields, objects, or integrations. 

5. Integration and Testing 

• Integrate Systems: Ensure that Revenue Cloud Advanced integrates with other Salesforce modules and third-party systems as needed. This may involve configuring integration points and ensuring data flows smoothly. 

• Testing: Perform thorough testing of Revenue Cloud Advanced to ensure that all functionalities work as expected. This includes unit testing, integration testing, and user acceptance testing (UAT).
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6. Deployment and Go-Live 

• Go-Live Preparation: Finalize your go-live plan, including any necessary cutover activities and a support plan for the transition period. 

• Go-Live: Deploy Revenue Cloud Advanced and switch from CPQ to the new system. Monitor the deployment closely to address any issues that arise. 

7. Post-Go-Live Support 

• Monitor and Support: Provide support to users as they transition to Revenue Cloud Advanced. Address any issues or challenges that come up and make necessary adjustments. 

• Feedback and Optimization: Gather feedback from users and continuously optimize Revenue Cloud Advanced configurations and processes based on real-world use and changing business needs. 

8. Documentation and Training 

• Update Documentation: Update your internal documentation to reflect the new processes and configurations in Revenue Cloud Advanced. 

• Ongoing Training: Provide ongoing training and resources to ensure that users are well-equipped to utilize Revenue Cloud Advanced effectively. 

 

Salesforce CPQ to Revenue Cloud Advanced Migration Tip 1: Start in a sandbox. 

Understand that Salesforce CPQ and Revenue Cloud Advanced can coexist. You can have both systems running for a while at the same time in the same organization. This is because the applications use two different objects. CPQ uses a custom quote object. Revenue Cloud Advanced uses the native quote object. This is helpful in a transition phase and enables you to identify a subset of your products and pricing for partial migration to Revenue Cloud Advanced, rather than doing it all at once. Pick a few pilot products and create a sandbox test environment where you can make changes while doing UAT (user acceptance testing). Then scale up migration to Revenue Cloud Advanced from there. Don’t think of this as an extra step but rather as a safely phased approach to production.  

 

Salesforce CPQ to Revenue Cloud Advanced Migration Tip 2: Don’t go it alone. 

Revenue Cloud Advanced is a little more complex than CPQ and it’s considerably different in terms of how the software works. However, the general approach to implementing Revenue Cloud Advanced is similar to CPQ. So, whether implementing Revenue Cloud Advanced from scratch or migrating to Revenue Cloud Advanced from CPQ, you’re wise to work with a highly specialized system integrator and Salesforce Partner, like PW. We are experts in the Salesforce CPQ revenue transformation process. And we specialize in manufacturing, life sciences, and high-tech industries. We’ll work closely with you to review your current data model, business processes, and CPQ solution if you have one.  

 

PW is one of the only SI’s in the world that has been formally trained by Salesforce on Revenue Cloud Advanced, both in the US and UK. We are also templatizing the Revenue Cloud Advanced implementation process with our Total Commerce adoption accelerator. Additionally, we’ve already built a UI framework that simplifies and speeds the process of creating unique and next-level buyer experiences in Revenue Cloud Advanced. That means we’re one of the only SI’s that can ensure a smooth and efficient adoption of or migration to Revenue Cloud Advanced, while reducing consulting time and fees.  

 

When you think of Revenue Cloud Advanced, think of Pierce Washington. Check out our full Revenue Cloud Advanced Hub. 

  

Contact Us.