Exploring the Top New Features of Summer 2023 Release for Revenue Cloud Lightning 

Revenue Cloud Lightning enables you to create bundles of products and services that can be sold together as a single offering. These bundles can include a mix of one-time purchase items and subscription-based products, such as combining an appliance with accessories and a warranty. This helps businesses package complex offerings in a more structured and customer-friendly way.

It also supports advanced configuration, such as nesting bundles within other bundles, defining whether each item is included in the base price or available at an additional cost, and tracking them through the entire sales process, including quotes, orders, and fulfillment. These bundled items can also be displayed directly in the storefront, making it easier for customers to understand and purchase them.

Where Applicable: This feature is available in the Sales Cloud and Service Cloud in Lightning Experience for Enterprise, Unlimited, and Developer editions with a Subscription Management license. 

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3. Decrease the Quantity of a Subscription

Sales operations representatives can now decrease subscription quantities directly within Revenue Cloud Lightning. Previously, if a customer requested a decrease in subscription quantity, the rep had to cancel and recreate the order, which caused disruptions in sales reporting. With this enhancement, agents can efficiently adjust subscription quantity, resulting in accurate sales data.  

Where Applicable: This feature is available in the Sales Cloud and Service Cloud in Lightning Experience for Enterprise, Unlimited, and Developer editions with a Subscription Management license. 

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4. Price Product Subscriptions Annually

Revenue Cloud Lightning now supports annual pricing options for product subscriptions to offer more flexibility in pricing. You can set pricing options as either with a term of one year or with a term of one month when using Product Selling Models in Subscription Management. This enhancement lets you fine-tune how you price, pay, and account for your products.  

Where Applicable: With a Subscription Management license, the annual pricing feature is available in the Sales Cloud and Service Cloud in Lightning Experience for Enterprise, Unlimited, and Developer editions. 

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5. Bill Your Customers Annually

With the Summer 2023 Release, Revenue Cloud Lightning now supports annual billing out of the box. Previously, only monthly billing terms were available in Subscription Management. This new capability eliminates the need for custom solutions to address common business use cases. Users with the appropriate permissions can now use annual billing, providing a more comprehensive billing experience.  

Where Applicable: This change is applicable in the Sales Cloud and Service Cloud in Lightning Experience for Enterprise, Unlimited, and Developer editions with a Subscription Management license. 

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6. Configure Discounts for Subscriptions with Longer Terms

Revenue Cloud Lightning now allows price adjustments for longer subscription terms to drive sales and foster longer customer relationships. For example, you can apply a 20% discount for subscriptions exceeding three years.

Previously, price adjustments were only configurable for increased quantity. In addition, you can associate the schedule with a product’s price book entry by creating price adjustment schedules with the termed type and configuring discounts for each tier. This enhancement ensures consistent prices across all sales channels and simplifies pricing.  

Where Applicable: This feature is available in the Sales Cloud and Service Cloud in Lightning Experience for Enterprise, Unlimited, and Developer editions with a Subscription Management license. 

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7. Use Subscription Management Without Invoicing and Payment Features

For businesses not utilizing Subscription Management for billing purposes, Revenue Cloud Lightning now allows Subscription Management without creating billing schedules for invoicing.

Previously, Subscription Management generated billing schedules and invoices whenever orders were activated. With the new “Suppress Subscription Management Billing Functionality” setting, Subscription Management leaves the Billing Frequency field blank and prevents the generation of billing schedules. However, existing billing schedules will continue to generate invoices.  

Where Applicable: This feature is available in the Sales Cloud and Service Cloud in Lightning Experience for Enterprise, Unlimited, and Developer editions with a Subscription Management license. 

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The Summer 2023 release of Revenue Cloud Lightning introduces a range of exciting new features with the potential to revolutionize revenue management for businesses. With LevelShift’s expertise, companies can leverage the latest features of this release. As a result, our guidance helps organizations streamline their revenue operations, drive growth, and deliver exceptional customer experiences.  

By embracing these enhancements, businesses gain a competitive edge, unlock new revenue streams, and stay ahead in a dynamic business landscape. Contact us to learn more about our capabilities in Revenue Cloud. To fully realize the power of the entire platform, view our dedicated Salesforce Revenue Cloud consulting services.