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As buying habits have evolved, the digitalisation of billing has been essential to ensure that customers are offered with flexible invoicing and billing methods.
The COVID-19 pandemic drove both B2C and B2B e-commerce, and e-commerce sales are expected to further increase by 8% in the next year.
Nowadays, customers want to be able to identify and evaluate items and services from a variety of touchpoints before converting. As a result, companies must concentrate on offering more attractive purchasing experiences, pricing models, services, and delivery choices in order to retain customer interest.
Many firms might doubt if they’ll be able to compete if they don’t have a scaleable, all-inclusive invoicing and billing solution to match. These businesses might ask themselves:
- How can I improve our invoicing and billing methods to improve the overall customer experience?
- How does digitalisation play a role in the purchasing and billing journey?
- How can Salesforce help us to adapt my invoice and billing procedures in order to stay competitive?
Salesforce has been answering many questions in this field for decades and has helped its customers to evolve the customer experience across the lead, billing and payments cycle. Their cloud-based CRM solution gives customers complete insight and control of their revenue, as well as the ability to create better customer experiences across the lifecycle through one single platform.
Why is Salesforce a leader in flexible billing and invoicing solutions?
Salesforce’s CRM software is a complete solution that offers great flexibility when it comes to billing. Customers can use Sales Cloud and Revenue Cloud to manage sales and account management, CPQ, Billing, PRM, and B2B Commerce so they can take control of their revenue growth across all channels. This means customers gain a more flexible buying journey – allowing them to interact with a business in many ways – while still experiencing a seamless approach.
How does Salesforce enable customers to have a better purchasing experience?
Salesforce Billing gives you the ability to offer personalised discounting, pricing and product options to your customers, ensuring a positive buying experience for them and increasing the chances of them becoming a returning customer with your organisation.
Steve Boyd
Principal
A streamlined sales journey for customers for overall better customer experiences
With Salesforce, customers can switch between sales channels with direct sales, partners, and digital storefronts while still experiencing a personal and seamless approach. Let’s look at how this might function in real life by looking at Bill, the customer’s journey:
- Bill puts certain items or services in his online cart
- Bill reaches out to a sales person to ask a question about the products or combination of items
- The sales person will have a complete view of Bill’s existing product history and online interactions at the click of a button
- They can now use this data to get Bill over the line by offering relevant discounts or perks, which can convert Bill and therefore increase his lifetime value.
- Bill is happy because he has been given great customer service and tailored discounts, which help him to feel like a treasured customer. Bill completes his purchase.
Flexible Billing with the Salesforce CPQ & Billing solution
From a business viewpoint, this buying process involves a complex network of personnel, procedures, and stakeholders that extend well beyond sales. From finance to partners to digital commerce to operations and IT, there are many players involved in the purchase process.
With Salesforce CPQ and Billing, you can set multiple contract, ordering and invoicing schedules that align with your supply chain and inventory management. Using this same functionality, you can also negotiate custom ordering and invoicing schedules with your critical customers, as part of making their experience with your organisation a positive one.
Steve Boyd
Principal
The positive impacts of multitouch purchases on businesses
When businesses scale, the purchase process can even more complicated as they may need to apply different rules and regulations to ensure that their revenue reporting is accurate. This is where things can start to go wrong if businesses aren’t using a flexible system.
For example:
Salesforce Revenue Cloud brings together all of these stakeholders by creating a single source of truth for revenue and customer transactions, from purchase to renewal and revenue recognition.
This single source of truth enables the free flow of customer data so that customers can benefit from a flexible and personalised buying process that adapts to their needs and flexible purchasing behaviours.
- E-commerce company Jeansland sells jeans both locally from the UK and internationally across Europe. Their initial pricing model was created to work for the UK market, however, when they went global, they needed to adapt and increase product pricing for several product lines due to the local supply market and costs.
- This impacted their pricing model. Now, product A is listed at £30 in the UK. However, to purchase the same item from Spain, it now costs €40.
- The website shows pricing based from Geotracking, so that customers always see the relevant price tags for products. The CRM system that these products are linked to, however, only shows their local UK market pricing, which means that the sales team in Spain need to consistently adapt and convert pricing because they don’t have a flexible billing system.
- If Jeansland were to change their CRM system to Salesforce, they would save several hours each week as they wouldn’t need to manually convert and process invoices.
- Salesforce can automatically use local pricing for each location and issue the relevant invoice based on set data from the purchase journey and geography. Teams would also benefit from local and international sales reporting – meaning that they always have access to real-time, smart data and are fuelled to make the right decisions.
Salesforce Revenue Cloud brings together all of these stakeholders by creating a single source of truth for revenue and customer transactions, from purchase to renewal and revenue recognition.
This single source of truth enables the free flow of customer data so that customers can benefit from a flexible and personalised buying process that adapts to their needs and flexible purchasing behaviours.
The advantage of Salesforce Billing
By unifying the customer experience across the entire organisation on a single platform, businesses can increase customer satisfaction and brand loyalty, as well as reduce operational costs.
Salesforce Billing gives you a full 360° degree view of your quote-to-cash business process and gives you full control over your invoicing schedule and revenue recognition so that it can be aligned to your organisation’s ordering and sales cycle.
Steve Boyd
Principal
In addition, Salesforce provides powerful tools for business intelligence and analytics so that organisations can make informed decisions about their billing strategies. With this data, businesses can improve their customer journey by continually evolving their offerings to match customer needs and preferences.
With all of these advantages, it’s no wonder that Salesforce is a leader in flexible billing and invoicing. Thanks to its complete 360 customer solution and powerful tools, businesses can take control of their revenue growth across all channels and improve the customer experience at the same time.
Why use a Salesforce Partner to implement Salesforce billing?
When it comes to billing, there is no one-size-fits-all solution. Each business has unique needs, so a bespoke Salesforce implementation is often the best option.
By involving a Platinum Partner like us, you can:
- Benefit from a more thorough approach to understanding your specific goals and pain points before finding the right scalable, flexible solution for your business.
- Make the most of our team’s technical knowledge and experience in successfully executing digital transformation projects to ensure that your billing implementation is a success.
- Give your staff the advantage of custom training on Salesforce so they get the most out of your bespoke setup.
- Fast-tracking your special needs with qualified personnel with the necessary expertise and project management abilities ensures that your platform is up and running when you need it.
- Easily link third-party systems with the custom development from our expert developers.
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Pracedo is an award-winning Summit (Platinum) Salesforce Consulting Partner that delivers innovative Salesforce implementations to forward-thinking customers.
With over a decade of experience focused on Salesforce, we work with our customers to unlock the platform’s power through tailored implementations that facilitate achieving business goals and ambitions. Our talented team of over 80 Salesforce professionals globally means that Pracedo offers a boutique consultancy experience, delivered locally to you, with the breadth and depth of knowledge earned from delivering over 1000 projects across our locations.
Pracedo specialises in Digital Transformation and Change Management. Implementations and customisations include: Salesforce Sales Cloud, Salesforce Service Cloud, Salesforce Marketing Cloud, Salesforce Marketing Cloud Account Engagement, Salesforce Revenue Cloud, Salesforce Experience Cloud and Salesforce Nonprofit Cloud.
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