Generally, a Sales cycle begins with lead generation, followed by converting the lead into an opportunity. The Sales representative then collaborates with the customer to finalize the quotation. This quotation undergoes a series of approvals, and once approved, an order is generated. The order is then fulfilled and proceeds to billing.

The setup is achievable in CPQ along with a few extra packages like Order Fulfillment in Netsuite or Zuora, billing via Salesforce Billing Package, Cash payment using stripe etc. This setup involves the cost of all the packages used. At times, there maybe some use cases which cannot be achieved due to the tool limitation.
To overcome the challenges in the Revenue Cycle, Salesforce has come up with new CPQ called Revenue Lifecycle Management which has all the above mentioned features under the same umbrella.
Introducing Salesforce Revenue Lifecycle Management (RLM)
Revenue Lifecycle Management is a product by Salesforce which offers end to end features right from product management to cash generation. Revenue Lifecycle Management has 7 pillars:
Product/Service Design
Pricing Management
Configure, Price and Quote
Contract Lifecycle Management
Order Management
Billing
Revenue Lifecycle Intelligence

How is Revenue Lifecycle Management (RLM) different from CPQ
CPQ as the name suggests Configure, Price and Quote is a package which allows the users to configure product and pricing in order to process quotations and order. CPQ does not have the ability to manage fulfillment, billing, generate MSAs etc. In order to have all the mentioned features along with CPQ, we would need other supporting packages like Billing, NetSuite for fulfillment, Stripe for payments etc. whereas you need not install different packages when you use Revenue Lifecycle Management.
What makes RLM Unique?
RLM is a complete package to configure product to Cash setup for any customer. Its a very flexible product and some out of many unique features are listed below:
One Product can have multiple selling model meaning it can be sold as One-Time, Monthly or Yearly Product.
Divide products using catalog and categories.
Flexibility to define pricing waterfall.
Pricing procedure to handle complex pricing.
Generation of one time and subscription products as assets.
Option to amend and renew selected assets only from both Contract and Account.
How to get RLM?
RLM can be enabled by Salesforce in your orgs by enabling the licenses. Below table shows the detail of the licenses and permissions required for every module in Revenue Lifecycle Management:

Vaishali Varma
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