Salesforce Billing is an add-on package that ensures essential information records are efficiently obtained from Salesforce CPQ, providing its users with a seamless and connected platform experience. The process starts with the sales rep finalizing a quote, then ordering it within Salesforce CPQ. Salesforce Billing then pulls the order record over for invoicing, payment process, and revenue recognition, creating a one stop shop for every step in your quote-to-cash process.
Today, we explore three of the key Salesforce Billing benefits that will integrate and simplify your company’s sales process and make it easier for your team to deliver success from the start of the consumer experience, to the finish.
1) One system integration
What is it?
Salesforce Billing gives you the platform to generate and automate all of your invoices, payments, and revenue in one easy-to-use and seamless system. It enables a unified view of your customers and gives all of your employees the platform to collaborate, update in real-time and find the necessary information they need right at their fingertips.
Why it matters:
Salesforce Billing provides solutions for problems such as data capture lag time, human errors from manual inputting and an overall disrupted or incomplete view of a customer’s journey. With Salesforce Billing, these separate structures are combined into one reliable and uninterrupted system.
2) Usage Pricing
What is it?
Salesforce’s Usage-based pricing lets you decide how your subscriptions are going to work by allowing you to construct various types of tier-based usage rates for all of your products. Subscription usage pricing packages can be determined by factors such as hours of support used, number of calls or number of transactions.
Why it matters:
Without Usage-based pricing, it is tough to manage usage billing as you have to create a contract using Salesforce, then you would have to go into your separate billing platform and generate the necessary calculations. This process is not only time consuming, but certain billing systems may not be built for usage subscription calculations. In this case, your team would have to use your rate card and do the calculations manually, then manually enter them into the billing system, creating the possibility for incorrect calculations due to human error. With Salesforce Billing, this entire process is done for you, automatically and all on the same platform, taking the manual work out of the equation.
3) Customer Asset Lifecycle Management (coming soon)
What is it?
At last year’s Dreamforce, Salesforce unveiled their newest upcoming feature, set to be rolled out in 2020: Customer Asset Lifecycle Management. With this, sales and support representatives get access to a 360 degree view of their customers. They are able to get a clear image of the current standings of a customer, how many subscriptions or assets they currently have or if they have increased or decreased their licenses, to name a few. To learn more about Customer Asset Lifecycle Management, watch the Dreamforce 2019 presentation video here.
Why it matters:
Having visibility to updates like a customer’s increase or decrease of licenses and new hardware purchases shows you the health of your customer’s account. It provides valuable insight for figuring out the risks and opportunities associated with your customer. Better yet, it provides you with key customer visibility all in one spot, through subscription purchases and patterns.
Want to know how Salesforce Billing can make your sales process easier and seamless? Contact one of our experts today!