Salesforce’s Subscription Management for Revenue Cloud makes it easier than ever for businesses to implement a recurring revenue purchasing model.
This is good news for any CFO seeking to reinforce their business partnering role as it provides a highly effective way to optimise your revenue strategy.
Discover how the right subscription management solution can deliver a valuable competitive edge.
Building a purchasing model to match customer needs
New payment method, new market, new region?
How and where could your purchasing and billing processes be optimised to attract and retain more customers? Like effortless invoicing or simple contract amendments.
How easy is it for your B2B customers to purchase a subscription, renew or upgrade?
88% of customers now say that the experience a company provides is as important as its products or services.
It might be as simple as offering an evergreen subscription to enable access to higher-priced products or services over a set term. Alternatively, you might want to explore other monetisation models. Examples are standard tiered pricing, volume-based tiering, a minimum commit and modular add-ons that allow customers to tailor their package. This delights your users with one seamless experience from purchase to adoption to renewal.
In theory, the possibilities are endless. However, your options depend on the systems and processes in place to support your revenue management.
How do you get sales and finance to work together to manage the customer experience?
To manage the different reporting standards that come with subscriptions, Salesforce Subscription Management provides product-to-cash on a single platform.
It is an API first product that leverages the Salesforce data model and has powerful integrations for headless e-commerce use cases.
This means you can integrate it with B2B Commerce Cloud or any other e-commerce solution to configure your products your products and price books or use its own UI and UX interface for design.
Key functionalities of Salesforce Subscription Management:
Ideal for SMB through to Enterprise sized businesses, B2B Subscription Management in an omni-channel model. What do you get?
- Product-to Cash functionality on one platform
- One-time, evergreen and term subscriptions
- Unified product catalog management
- Centralised pricing
- Order/transaction and revenue management
- Self-service option for Buy-now, Cancelation, Adding or Removing of assets
As part of Salesforce Revenue Cloud, it can also be integrated with CPQ and Billing to provide a holistic view of more complex use cases providing the perfect opportunity for finance to liaise with other key stakeholders and share the metrics that matter.
Not only this, but you improve customer satisfaction by enabling B2B customers to self-service their accounts. Managing their own Buy-now, cancelations and amendments to assets such as adding or removing products or services saving time and resources on both sides.
A system designed to help you win recurring revenue faster in a way that delivers benefits across the business and an exceptional buying experience for the customer.
With the help of a trusted advisory and implementation partner like PhiX, we can accelerate decision-making. Advising on what makes a B2B commerce project successful and helping you to avoid the common pitfalls.
A customer experience built on insight
What are the most popular cadence options for replenishment? Which contract add-ons trigger the most interest? What promotions or suggestions work best in turning a mid-tier customer into a top-tier one?
The right subscription management solution can generate valuable data on customer behaviour. In turn, you can use this to shape the broader customer experience. Examples might include spotting new cross-sell/up-sell add-ons to push or fine-tuning your demand-based pricing strategy.
There’s a further opportunity for CFO business partnering here. Rather than just extracting behavioural data from your subscription management system and forwarding it to sales, finance should consider analysing it to proactively make suggestions for customer experience optimisation.
Find out more
See Salesforce Subscription Management in action with a live demo from PhiX.
Book your free discovery call here
