Collaborate Across Teams
Learning Objectives
After completing this unit, you’ll be able to:
- Identify the personas who use Revenue Lifecycle Management (RLM).
- Describe the common tasks performed by various job roles in RLM.
Key Teams
At Cloud Kicks, several key players are involved in the revenue generation process. Who are these key players, and how do they use Revenue Lifecycle Management (RLM)? Although there’s no one-size-fits-all, here are the key teams who use RLM to cater to the processes in their workstreams.
Sales
The Sales team interacts with customers and works on deals that include upselling, cross-selling, renewals, and amendments. The team also creates quotes, which include pricing information based on customer requirements.
Operations
The Operations team influences pricing strategy, directs and tracks promotions, and defines metrics for revenue success.
Finance
The Finance team manages and tracks customer payments against the invoices generated. The team’s main aim is revenue recognition. Additionally, the team also ensures that contracts meet legal requirements.
Service
The Service team coordinates field operations and can include delivery and installation. The team must be empowered with information about the assets to be installed for the customer to ensure order fulfillment.
Legal
The Legal team approves the standard clauses in the contracts signed with the customer to ensure that they pose no risk to the company. The team is also responsible for contract negotiation, deal management, and approval of contracts.
Next, learn about the various personas within these teams and the tasks they perform using RLM and its components.
Target Personas
The key teams that you just looked at have specific roles that interact with RLM. The term target persona refers to such roles.
Here are the RLM components and the target personas that interact with them.
Target Personas and Their Tasks
Now that you’ve learned about the various personas and the RLM components the personas interact with, it’s time to learn about the common tasks that each persona performs.
Persona | Tasks |
---|---|
Product Catalog Admin |
|
Product Designer |
|
Salesforce Admin for Product Catalog Management |
|
Pricing Admin |
|
Pricing Manager |
|
Pricing Designer |
|
Catalog Admin |
|
Quote and Order Capture Admin |
|
Sales Rep |
|
Sales Operations Rep |
|
Contract Admin | Set up org preferences. |
Contract User |
|
Contract Partner User | Facilitate review and approval of contract documents. |
Contract Specialist |
|
Wrap Up
Revenue Lifecycle Management provides a product-to-cash platform that has all the capabilities expected from a modern revenue management platform. With RLM, you have the power to successfully carry out end-to-end sales processes instead of using point solutions that don't work well together.