Join us as we explore the latest features introduced in the Summer 2023 release for Revenue Cloud Lightning. Discover how these features can optimize revenue management processes and improve sales effectiveness.
Salesforce CPQ
1. Allow Updates to Email Message Related Records to Meet Business Rules
In Salesforce CPQ Plus, creating templates for quote building has become easier than ever. You can now design Microsoft Word (.docx) files with your desired language and formatting, including tokens representing Salesforce fields. Then, you can activate the template for your sales reps by uploading the file and mapping the tokens. Additionally, representatives have the option to convert the documents into PDF format.
Where Applicable: This feature is available in Lightning Experience and Salesforce Classic in Salesforce CPQ Plus, providing a seamless quoting experience.
Subscription Management
2. Sell Bundled Products and Services
Revenue Cloud Lightning now enables you to create bundles of products and services to sell them together. These bundles can include both one-time purchase products and subscription-based items. For example, you can bundle an appliance with accessories and a warranty. Furthermore, you can nest bundles as line items within another bundle, specify if an item’s cost is included or available at an additional cost, and track the bundles through quotes, orders, and fulfillment. Additionally, you can display bundled line items to customers in your storefront.
Where Applicable: This feature is available in the Sales Cloud and Service Cloud in Lightning Experience for Enterprise, Unlimited, and Developer editions with a Subscription Management license.
3. Decrease the Quantity of a Subscription
Sales operations representatives can now decrease subscription quantities directly within Revenue Cloud Lightning. Previously, if a customer requested a decrease in subscription quantity, the rep had to cancel and recreate the order, which caused disruptions in sales reporting. With this enhancement, agents can efficiently adjust subscription quantity, resulting in accurate sales data.
Where Applicable: This feature is available in the Sales Cloud and Service Cloud in Lightning Experience for Enterprise, Unlimited, and Developer editions with a Subscription Management license.
4. Price Product Subscriptions Annually
Revenue Cloud Lightning now supports annual pricing options for product subscriptions to offer more flexibility in pricing. You can set pricing options as either with a term of one year or with a term of one month when using Product Selling Models in Subscription Management. This enhancement lets you fine-tune how you price, pay, and account for your products.
Where Applicable: With a Subscription Management license, the annual pricing feature is available in the Sales Cloud and Service Cloud in Lightning Experience for Enterprise, Unlimited, and Developer editions.
5. Bill Your Customers Annually
With the Summer 2023 Release, Revenue Cloud Lightning now supports annual billing out of the box. Previously, only monthly billing terms were available in Subscription Management. This new capability eliminates the need for custom solutions to address common business use cases. Users with the appropriate permissions can now use annual billing, providing a more comprehensive billing experience.
Where Applicable: This change is applicable in the Sales Cloud and Service Cloud in Lightning Experience for Enterprise, Unlimited, and Developer editions with a Subscription Management license.
6. Configure Discounts for Subscriptions with Longer Terms
Revenue Cloud Lightning now allows price adjustments for longer subscription terms to drive sales and foster longer customer relationships. For example, you can apply a 20% discount for subscriptions exceeding three years. Previously, price adjustments were only configurable for increased quantity. In addition, you can associate the schedule with a product’s price book entry by creating price adjustment schedules with the termed type and configuring discounts for each tier. This enhancement ensures consistent prices across all sales channels and simplifies pricing.
Where Applicable: This feature is available in the Sales Cloud and Service Cloud in Lightning Experience for Enterprise, Unlimited, and Developer editions with a Subscription Management license.
7. Use Subscription Management Without Invoicing and Payment Features
For businesses not utilizing Subscription Management for billing purposes, Revenue Cloud Lightning now allows Subscription Management without creating billing schedules for invoicing. Previously, Subscription Management generated billing schedules and invoices whenever orders were activated. With the new “Suppress Subscription Management Billing Functionality” setting, Subscription Management leaves the Billing Frequency field blank and prevents the generation of billing schedules. However, existing billing schedules will continue to generate invoices.
Where Applicable: This feature is available in the Sales Cloud and Service Cloud in Lightning Experience for Enterprise, Unlimited, and Developer editions with a Subscription Management license.
The Summer 2023 release of Revenue Cloud Lightning introduces a range of exciting new features with the potential to revolutionize revenue management for businesses. With DemandBlue’s expertise, companies can leverage the latest features of this release. As a result, our guidance helps organizations streamline their revenue operations, drive growth, and deliver exceptional customer experiences.
By embracing these enhancements, businesses gain a competitive edge, unlock new revenue streams, and stay ahead in a dynamic business landscape. Contact us to learn more about our capabilities in Revenue Cloud.
