In today’s business landscape, companies across the globe are redefining their sales and finance revenue operations (RevOps) to meet fluctuating customer requirements and fluid market demands. The global pandemic has also forced companies to re-evaluate and re-calibrate. There is a particular urgency to improve the sales and finance team’s revenue operations to stay in-sync and on track. With companies’ revived interest in a digital business model, you would probably guess that your sales and finance team needs to be agile and flexible—and you would be right.
We know that your sales and finance team struggles to overcome numerous pain points that hinder your revenue growth. In fact, in our previous blog, we discussed the critical pain points faced by the sales and finance team that represent today’s new normal. We would like to further explain how Salesforce’s Revenue Cloud offering could be a game-changer for your sales and finance team. We’ll also take a deeper look at the challenges experienced by the sales and finance operations to drive revenue growth and how Salesforce Revenue Cloud tools can transform your operational model.
Being a Salesforce executive, it’s always a challenge to align your sales and finance team in the right direction. That’s where RevOps comes in. A harmonious approach that empowers sales and finance to love each other.
So, what is RevOps?
Revenue operation or RevOps is a B2B function that focuses on the synchronization and automation of common tasks across sales and finance to drive efficient business decisions. RevOps works across multiple departments from marketing, customer success, service, sales, and finance with a single access goal of keeping everyone on the same page.
How investment in Revenue Operations (RevOps) helps businesses streamline sales operations
RevOps streamlines operations – RevOps diminishes operational challenges across your sales and finance operations, departments and creates a more robust customer experience.
A Precise and focused approach to business – RevOps unifies customer-facing departments to ensure every campaign initiative has a measured outcome on the sales funnel. By bringing all departments together, teams can collectively focus on achieving goals to grow revenue.
Uncomplicated adaptation to changes in the market value – RevOps helps ease the communication gap, project management and creates the internal transition between departments seamless. With such capability, it reduces time-to-market and mitigation.
Don't forget to check out: A Closer Look at Revenue Cloud | Salesforce
The 3 sophisticated pillars of RevOps
The three sophisticated pillars of RevOps are the fundamental blocks that help streamline your entire operational cycle. When each pillar is precisely defined, your team tends to achieve more clarity towards process, focus across channels, and accountability across operations.
P’1 – Precise processes throughout operations
With processes in the precise place, you would be able to create a culture of collaboration. RevOps leverage uniformed processes that improve upselling, customer retention and shorten the sales cycles.
P’2 – Align platform with tech-stack
Connect your technology and align them with the right platform to deliver a precise story across your revenue pipelines. A single source of truth helps to identify how the technology affects the pipeline directly and indirectly.
P’3 – People are the process makers
People in your organization are responsible to manage platforms and processes together. Based on the size of your organization, RevOps ensures to create a pre-defined RevOps team or distribute the authority of RevOps to your existing team.
How can organizations start implementing Revenue Operations (RevOps)?
Most organizations, especially B2B, that implement an aligned revenue operation, see a more significant percentage of revenue growth and shortened sales cycles impacts from day one of implementation. Let’s take a look at the process you undergo while you start implementing Revenue Operations.
Step 1: Examine the journey
Audit your customers’ overall journey to find the gap between different departments through several audits, such as an audit of all the existing content, technology, and website.
Step 2: Elucidate every process
Define and align the lifecycle stage by ensuring the revenue pipeline is precise, the tech stacks are audited, and the RevOps processes are streamlined.
Step 3: Create a defined product phase
Restructure or build the following: Go-to-market plan, precise workflow, inbound sales follow-up emails, outbound sales outreach emails, and create a RevOps dashboard to foster the momentum towards better revenue potential.
Step 4: Trigger the checklist
Activate every strategy implemented across the revenue operations. Maintain consistency across sales, marketing, and finance operations growth scale, and identify unaligned results in the RevOps dashboard.
Five signs that your sales and finance teams are ready for RevOps:
- There is no proper correlation between the quotes and invoices contracted by your sales and finance team.
- The administrative burden of your revenue management extends beyond the functions of your sales and finance team.
- There is insufficient time to prioritize the quick win opportunities since the sales and finance team are involved with distracting, time-consuming tasks.
- Manual invoice creation has become an arduous task as you sell more complex products with discounts, block pricing, and more.
- Inaccurate revenue forecasts have created a cash flow shortfall that creates speed bumps throughout the sales cycle.
It does not stop here. There are several more pain points faced by the sales and finance team, which we discussed in our previous blog.
Check out another amazing blog by Demandblue here: Marketing Automation - The Secret Ingredient Behind Sales Success
Supercharge DemandBlue’s Revenue Cloud accelerator packages to improve Revenue Operations (RevOps) across all channels
DemandBlue offers fixed Salesforce Revenue Cloud accelerator packages to start your CPQ and Revenue Operations implementation in weeks quickly. Our Revenue Cloud Accelerator will help restructure your product pricing, shortens the sales cycle, and improve the efficiency of your revenue operations.
Salesforce Revenue Cloud – unify your sales and finance team with a streamlined revenue process
To optimize every channel of the revenue stream, CRM isn’t the only option; you need a customer 360 platform. And luckily, Salesforce Revenue Cloud is a perfect platform that offers a combination of tools and solutions to help you achieve a comprehensive view. With Salesforce Revenue Cloud, businesses of all sizes and industries can use tools designed to optimize each revenue stream as you work with customers, partners, and employees.
Salesforce Revenue Cloud comprises different complementary elements that can be leveraged separately or as a combined package. Salesforce Revenue Cloud offers a 360-degree package that encompasses various tools, including CPQ, Billing, Experience Cloud, and B2B Commerce.
Accelerate your revenue growth
As a best-in-class enterprise practice, a shared service model of administrative tools such as Salesforce Revenue Cloud is ideal for tackling the complexities in sales, finance, and billing departments. Companies who take the time upfront to integrate complementary elements from Salesforce Revenue Cloud to automate their process can maximize revenue growth opportunities and make smarter decisions.
DemandBlue — an enterprise-grade Salesforce solution partner—helps businesses implement Salesforce Revenue Cloud tools to improve the efficiency of your sales and finance team’s revenue operations and accelerate revenue growth.
Optimize revenue streams and streamline every business operation with Salesforce Revenue Cloud (A Customer 360-degree Platform)