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Decoration
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One of the key things that organisations have learned during the current pandemic is the need for a reliable and scalable revenue forecasting system, a flexible business model and uniformity across all sales channels. There are companies that have struggled to meet their revenue targets owing to the unprecedented business scenarios that have been thrown up by the advent of Covid-19, while other companies have struggled to meet the sudden spike in the demand for their products and services because they have siloed sales channels.

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Revenue and sales leaders across organisations are now recognising the need to reduce uncertainty around revenues, margins and prices, whilst at the same time being able to provide products to their customers in the most flexible way.  In order to drive continuous organisational growth, it is now imperative that Sales and Revenue teams spend more time on focused customer interactions and delivering an enhanced buying experience across all channels rather than worrying about incorrect revenues and fixed business models.

Salesforce has now taken another leap towards providing a total Customer 360 platform by launching Salesforce Revenue Cloud. The aim is to consolidate CPQ, Billing, Approvals, Order Management and Revenue collection as a single pillar which can easily integrate with B2B Commerce and Partner Relationship Management applications to provide a unified platform for managing true-revenue, target margins and real-time pricing through omni-channel sales capabilities.

 

While Salesforce Revenue Cloud brings numerous advantages for organisations, in this article we have focused on the top 5 business benefits that underscore the importance of having a scalable and well implemented Revenue Cloud solution:

 

01

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New Revenue Streams & Sales Channels

In situations where the direct sale channel has been adversely impacted, companies are looking to create additional revenue streams from new sales channels to increase income.  For example, EHS – a corporate sanitisation products and services company – recently launched a B2B commerce platform to offer a Digital self-service buying experience for corporates, offices and shops.  Results from the most recent quarter indicate that 70% of revenue was driven through this newly launched commerce channel.

 

02

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New (consumption based) Business Model

Organisations are now looking for more flexibility to adopt different business models and promote new offerings to customers. For example, a Software firm wants to offer not just yearly subscription but also a usage-based model for a recently launched Video Conferencing Software. This type of flexibility is easily achieved by adding a new pricing model (that leverages existing product usage telemetry) through the advanced CPQ + Billing package.

 

03

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New Product Launches

Gone are the days when companies had the luxury of having drawn out processes in order to launch new products or services.  “Time to market” is of the essence in a highly competitive landscape.  Advanced CPQ functionality, a part of Salesforce Revenue Cloud, accelerates the launch of new product offerings to simultaneously across multiple sales channels.

 

04

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Pricing Uniformity

In an increasingly competitive virtual business environment created as result of the current pandemic, companies are looking for ways to avoid pricing errors and to protect margins;  Pricing Managers and revenue leaders are demanding deeper visibility into pricing and margins across all deals.  As an example, a pharmaceutical company, owing to an increase in demand, recently launched partner and distributor channels using Experience Cloud (formally known as Community Cloud), which internally uses the same pricing model that was designed for the direct sales channel. This enables both CFOs and CROs to enforce a consistent pricing approach while gaining full visibility across all customer transactions.

 

05

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Revenue Reporting

A key requirement for businesses around the world is to have comprehensive revenue visibility and forecasting across all sales channels. Revenue Cloud, in conjunction with Tableau, can help organisations generate revenue reports which are accurate, widespread and detailed enough to inform vital decision making.

 

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Conclusion

Organisations across the globe now recognise the value in having greater visibility of their true-revenue position and the importance of improving the buying experience for their customers by delivering new, more flexible business models.  Salesforce Revenue Cloud brings together CPQ and Billing, Partner Relationship Management and B2B Commerce capabilities to help businesses drive more revenue across multi sales channels, acting as a single source of truth for all revenue transactions.

 


Author : Ashish Arya

Ashish Arya helps Hansen’s customers to define their Quote-to-Cash business process transformation strategy on the Salesforce platform. With many years’ experience implementing Lead to Cash products (Salesforce CPQ & Billing and Apttus) for large enterprises, Ashish works closely with customers to re-define their B2B sales processes, identify industry QTC best practices and execute successful CPQ implementations to exponentially improve margins and revenue.


About Hansen

Hansen is a specialist consultancy helping you maximise Lead-to-Cash ROI. Our expertise is focused on unlocking value from your investments in CPQ, Billing and Unified Commerce on the Salesforce platform. We are actively engaged with organisations like the World Economic Forum, Jacobs Douwe Egberts, Deutsche Bank and Sandoz (Novartis) to transform their businesses at pace.

The “Hansen Difference” can be attributed to our CPQ and Billing heritage which is layered with process acumen established across many successful projects and industries. With Hansen, you can expect a trusted advisor invested in the success of our customers.

 

Salesforce’s announcement of the Revenue Cloud has created a flurry of articles and whitepapers on what it is, how it can benefit customers, and naturally, how companies like us can help you chart the shortest path to success on the Cloud of all Lead-to-Revenue Clouds.

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Why it was conceived, I believe, is more important than what’s in it. Salesforce clearly saw an opportunity to improve monetisation across its well-established products in the world of Lead-to-Revenue by creating a subscription “bundle” (the irony is likely lost on my non-CPQ audience!). So, what’s the new wave of opportunities they plan on surfing?

My linear (read unimaginative and slow) train of thoughts steered me to the usual suspects: a pricing advantage generated by selling an aggregate subscription (bundle), deeper customer engagement across the complete Lead-to-Revenue journey – through “a complete solution” that appeals to multiple buyer personas from Sales to Finance, beating competitors claiming similar “Enterprise Cloud” and / or Revenue Management prowess – Conga-Apttus, Microsoft and Oracle come to mind, although, they’d need a few iterations (reincarnations even) before they could offer similar functionality with the same transactional ease we’ve come to expect from Benioff’sCRM”.

These reasons aren’t likely to be completely invalid; they would, however, serve to establish a tenuous connection at best, to the business driver behind the launch of Revenue Cloud.

A more plausible motivation is very likely the evolution of the B2B sales process to a more consumer centric digitised model. A highly tailored buying experience, a flexible customer journey, improved depth and frequency of recurring customer engagement, a safeguard against eroding margins, and now, COVID 19, are factors that have accelerated this trend.

A few B2B Enterprises have successfully pivoted to offer a “shopping experience” rather than relying only on the traditional Enterprise sales process. The (far more sophisticated) B2B buyer is now empowered to shape her own buying experience on her own terms and at her own pace. The resemblance to a B2C consumer – who have access to a commerce store front, a “shopping cart” and the ability to pick and choose products and interactions, to fit her unique needs – is uncanny.

The pivot to Consumerised B2B Sales, has reframed Sales from a Revenue Management perspective. Instead of “selling” product (think Alec Baldwin in Glengarry Glenn Ross), to generate a revenue, we are now talking about “connecting” Revenue Streams to the Enterprise. Sounds similar but it’s not. It’s an entirely different way of looking at the value chain. “Lead-to-Revenue” sounds antiquated and very circa 2020. There’s definitely a new process name lurking here somewhere, waiting to be coined by some clever management consultant…Revenue-to-Growth, perhaps? I tried.

The efficacy of a system, that enables this step change in customer centricity, is predicated on frictionless Revenue flow from prospects and consumers, all the way to Finance. Sure, configure, price, quote (and Billing & Rev Rec) continue to be essential building blocks, but only in context of Revenue Streams – the raison d’etre for the Revenue Cloud.

Revenue Cloud unites CPQ, Billing, CPQ for Partner Communities, CPQ for Customer Communities and CPQ and B2B Commerce Connector, Vlocity (industry) workflows, and Tableau’s real time insights to help customers model live Revenue Streams.

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If you are a Revenue Management Leader in a B2B Enterprise looking to benefit from this new reality, please reach out to us. Our “Revenue Growth Specialists” at Hansen are here to accelerate your Revenue Cloud journey through a diagnostic Health Check.

 


Author : Raj Chatterjee

Hansen’s Sales Director, Raj Chatterjee, is passionate about identifying and articulating differential value enabled through Enterprise software. He views every conversation with prospective buyers as an opportunity to discover and monetise untapped potential in their business. Raj loves to get into solutioning discussions but his attempts at actually designing enterprise solutions are usually foiled by his specialist colleagues more suited for that job!


About Hansen

Hansen is a specialist consultancy helping you maximise Lead-to-Cash ROI. Our expertise is focused on unlocking value from your investments in CPQ, Billing and Unified Commerce on the Salesforce platform. We are actively engaged with organisations like the World Economic Forum, Jacobs Douwe Egberts, Deutsche Bank and Sandoz(Novartis) to transform their businesses at pace.

The “Hansen Difference” can be attributed to our CPQ and Billing heritage which is layered with process acumen established across many successful projects and industries. With Hansen, you can expect a trusted advisor invested in the success of our customers.

 

Drive Sales Velocity through Einstein – Salesforce’s flagship AI tool

Salesforce unleashed the power of predictive analytics through Einstein, first launched in 2016. Einstein, often referred to as the “AI for CRM”) can be leveraged by businesses to predict future behavior while pre-empting corrective action.

According to an article published on NADAQ, “Salesforce.com (NYSE: CRM) estimates that AI-related CRM spending will jump nearly five-fold to $46.3 billion in 2021 from 2016 levels. This is why Salesforce is busy integrating AI features into its services, and its latest addition could help it attack a lucrative niche of the CRM space.”

Salesforce continues to bet on Einstein, AI, advanced analytics and their application (beyond CRM) as indicated in its 2020 Annual Report

Most organisations struggle with the technical expertise and infrastructure required to develop and / or deliver results using Artificial Intelligence solutions. Salesforce Einstein bridges that chasm by providing a suite of tools enabling companies to monetise their data through intelligent insights.

Sales Rep’s can generate qualified leads faster, improve conversions and accelerate wins by leveraging Einstein’s predictive guidance as follows:

 

Lead scoring

Sales Cloud-Einstein can automatically analyze historical sales data to surface top factors that determine the probability of a lead converting to an opportunity. Data science augments the Lead Scoring process while machine learning improves the accuracy of predictions over time.

Einstein factors in lead/prospect sentiment by analysing historical engagement and trends in order to identify targets with the highest win probability.  Lead insights offered via Einstein provides a competitive advantage to Account Executives by focusing them on leads with the highest propensity to subscribe.

 

Account Insights

Account level insights are are generated by analysing the account dynamics gleaned from thousands of news articles each day.  Major events and developments in target accounts inform the buying propensity of a prospect / existing customer. To add to that, the analytics offer guidance at a more granular level to focus the sales team on challenges and issues addressable by the solution or product on offer. By aligning with prospect/customer’s pain early in the sales process, Account Executives can differentiate their offerings more effectively while accelerating opportunity closure.  An indicative summary of benefits driven through “intent data” and better proposition – pain alignment is as follows:

 

Einstein Opportunity Insights

Einstein leverages Sales Cloud data from historical sales cycles and engagement with customers (e.g., email) to identify unique patterns over the course of a customer’s buying journey. It layers past behaviour with trends to predict opportunity health and recognizes when deals are on track Vs being at risk; alerts and/or insights surfaced can guide sellers on counteractive measures to prevent the opportunity from getting derailed. In addition to course corrections, the insights inform situational tactics – recommendations on product offers, for example – that can increase win probability and reduce cycle time. A high level summary of feature-functionality enabled via Account Insights:

 

 

Einstein Activity Capture

Sales representatives can focus on what matters most – progressing opportunities – instead of the operational tasks like recording and linking various events to the various stages of the sales cycle.  Einstein allows seamless integration with Microsoft and Google to capture email and calendar events When reps send and / or receive email and calendar events, Activity Capture adds the messages to the Activity Timeline records in Salesforce – no manual data entry is required at any stage. The captured messages are visible across the Activity Timeline so the entire sales team can stay informed in real-time.

 

The average rep spends upto 28 hours per week reading and answering email. Providing reps with the ability schedule meetings, disseminate information, and negotiate deals via Activity Capture frees up time that can be used to engage buyers instead.

In addition to the operational efficiency enabled via this process, email insights are surface to inform the interaction with a contact.

Key benefits of Activity Capture:


Author : Parag Sharma

Parag Sharma is one of Hansen’s techno-functional Salesforce Quote to Cash experts.  He has had a variety of roles including Technical Lead and Technical Architect successfully delivering multiple full project lifecycle CPQ, Billing and CLM implementations into enterprise organisations across multiple verticals.

parag.sharma@hansen.co.uk


About Hansen

Hansen is a specialist consultancy helping you maximise Lead-to-Cash ROI. Our expertise is focused on unlocking value from your investments in CPQ, Billing and Unified Commerce on the Salesforce ecosystem.

With Lightning Flows, Salesforce has launched a powerful feature for advanced administration. Using this feature, Salesforce admins can achieve the desired Flows without developer input.

There are two types of Flows in Salesforce

In this blog, we are going to focus on a specific feature of Screen Flow, involving customizing the standard footer and create a Custom Footer.

The Footer is an area which drives Flow navigation. It includes various buttons such as Previous, Next, Pause and Finish. By default, the Flow Footer displays the available actions as standard buttons. Next and Finish use the brand variant style, and Previous and Pause use the neutral variant. Also, Pause floats left, while the rest of the buttons float right.

Scenarios that require the Standard Footer to be replaced with the Custom Footer:

In order to make Lightning components available in the Flow Screen, we need to implement the lightning:availableForFlowScreens Interface. The Lightening component inherits the following attributes:

NameTypeDescription
availableActionsstring[]The navigation actions available for this screen.
Valid actions are NEXT, PREVIOUS, FINISH, and PAUSE.
navigateFlowActionReferences the appropriate navigation action to move away from this screen.
screenHelpTextStringHelp text for this screen.
validateActionCustom validation is invoked when the flow navigates to the next screen.
[Pass a function into this attribute that evaluates the component and returns values for isValid and errorMessage.]

 

We can use availableActions to determine which buttons get displayed by setting the component’s local attributes:

To begin with, we need to remove the Standard Footer from the Lightning Flow. In order to do that:

Now let’s have a quick look at how we can create a Custom Footer and tag it as a lightning component.

Component

JS Controller

Tips and tricks for creating a Custom Footer Lighting component

Author : Nikunj Vedia

Nikunj Vedia is one of Hansen’s techno-functional Salesforce Quote to Cash experts.  He has had a variety of roles including Developer, Technical Lead and Technical Architect successfully delivering multiple full project lifecycle CPQ, Billing and CLM implementations into organisations across multiple verticals.

nikunj.vedia@hansen.co.uk


About Hansen

Hansen is a specialist consultancy helping you maximise Lead-to-Cash ROI. Our expertise is focused on unlocking value from your investments in CPQ, Billing and Unified Commerce on the Salesforce ecosystem.


References :
  1. https://developer.salesforce.com/docs/atlas.en-us.lightning.meta/lightning/components_config_for_flow_screens_replace_footer.htm
  2. https://developer.salesforce.com/docs/component-library/bundle/lightning:availableForFlowScreens/documentation