Revenue-Cloud-Consultant-Accredited-Professional Salesforce Revenue Cloud Consultant Accredited Professional Questions and Answers

C. Lead with Business Requirements and Process123: This principle helps you understand the specific needs and objectives of the project, as well as the current and desired state of the business processes. It also helps you align the projectscope with the business value and outcomes.

D. Think Transformation before Customization3: This principle helps you leverage the best practices and capabilities of Revenue Cloud, and avoid unnecessary or complex customizations that may increase costs, risks, and maintenance efforts. It also helps you embrace change and innovation, and optimize your revenue operations.

A. Alignment with customer on CPQ and Billing Terminology3: This principle helps you establish a common language and understanding of the keyconcepts and features of Revenue Cloud, such as CPQ (Configure-Price-Quote), Billing, Subscription Management, etc. It also helps you avoid

The benefits of having trained customer CPQ admins participate in the planning, design,and build phases include:

A. Facilitates a more efficient test phase: Trained CPQ admins can leverage their understanding of both the platform's capabilities and the company's specificrequirements to craft more effective tests and more quickly identify potential issues.

E. Customer is better equipped to scale and maintain functionality post-go-live: With deep involvement in the project phases, CPQ admins gain a thorough understanding of the setup and customization, which empowers them to manage, scale, and adapt the system as business needs evolve without always relying on external support.

These benefits highlight the importance of involving knowledgeable internal team members in significant project phases to ensure long-term success and operationalefficiency.

Cross object formula fields are fields that reference data from related objects using lookup or master-detail relationships. They can be useful to display information from parent or child objects without creating custom code or workflows. However, using too many cross object formula fields in a Revenue Cloud project can pose some risks, such as:

Formula field data is not always available during CPQ quote calculation. This means that the formula fields may not reflect the latest values from the related objects when the quote is being generated or updated. This can cause inaccuratepricing, discounts, or taxes. To avoid this, it is recommended to use CPQ fields or custom fields instead of cross object formula fields for quote calculation. 12

They are computationally expensive. This means that the formula fields require more processing power and time to evaluate and display thedata from the related objects. This can affect the performance and responsiveness of the application, especially if there are multiple formula fields on the same object or page layout. To avoid this, it is recommended to limit the number and complexity ofcross object formula fields, and use filters or conditions to reduce the number of records that need to be evaluated. 34

They can easily exceed limits if not carefully designed and tested. This means that the formula fields can cause errors or warnings if they exceed the maximum length, number, or level of relationships allowed by Salesforce. For example, a formula field can only reference up to 10 unique relationships and span up to five levels of relationships. If these limits are exceeded, the formula field will not save or display correctly. To avoid this, it is recommended to review the formula field limits and best practices, and test the formula fields in different scenarios and environments. 

The Large Quote Experience is a feature of Salesforce Revenue Cloud that allows businesses to handle quotes with a large number of quote line items more efficiently and avoid platform governor limit issues. The Large Quote Experience optimizes the performance of the Quote Line Editor and the Quote Calculator by using asynchronous processing, caching, and pagination. By enabling the Large Quote Experience, businesses can improve the user experience and reduce the risk of hitting CPU time, heap size, or SOQL query limits when saving or calculating large quotes. The Large Quote Experience can be enabled by setting the CPQ Package setting for “Large Quote Experience” to True. The Large Quote Experience also requires the CPQ Package setting for “Quote Batch Size” to be set to a value between 50 and 200, which determines the number of quote line items processed in each batch. The optimal value for this setting depends on the complexity and configuration of the quote line items

To migrate legacy install base into Salesforce CPQ along with the contract, the Revenue Cloud Consultant needs to populate the Assets and Subscriptions objects. These objects store the information about the products and services that the customer has purchased and are associated with the contract. The Assets object tracks the physical products, such as hardware and software licenses, that have been delivered or activated for the customer. The Subscriptions object tracks the recurring products, such as software subscriptions or maintenance plans, that have a defined billing frequency and term. By populating these objects, the Revenue Cloud Consultant can preserve the history of the customer’s purchases and enable the features of Salesforce CPQ, such as renewals, amendments, and co-termination. References:

Migrate Legacy Data to Salesforce CPQ

[Assets]

[Subscriptions]

An invoice scheduler is a feature of Salesforce Revenue Cloud that allows you to automatethe creation of invoices based on predefined criteria and schedules. An invoice scheduler uses an invoice run to evaluate whether and when an order product gets invoiced. You can set up an invoice scheduler to run daily, weekly, monthly, or once, and specify the target date and time, the invoice date, and the invoice batches to include. You can also choose to automatically post the generated invoices or review them in draft status before posting. An invoice scheduler is the best option to fulfill the userstory, as it can generate invoices in draft status the same day of every month without requiring any manual intervention or custom code. 12

Triggers and apex are not the best option, as they require writing and maintaining custom code, which can be complex and error-prone. They also donot provide the flexibility and control of an invoice scheduler, as they can only check the bill now checkbox after the order status is changed to “Activated”, which may not match the desired invoicing schedule or criteria. 3

Workflow rules are also not the best option, as they have similar limitations as triggers and apex. They can only check the bill now checkbox after the order status is changed to “Activated”, and they cannot specify the invoice date, time, or batches. Workflow rules also have some restrictions and considerations, such as the number of actions per rule, the order of execution, and theimpact on performance. 4

Setting up a payment scheduler is not relevant to the user story, as it is a feature of Salesforce Revenue Cloud that allows you to automate the collection of payments from customers based on predefined criteria and schedules. A payment scheduler does not create invoices, but rather applies payments to existing invoices or payment allocations. [5]

Salesforce Revenue Cloud, part of the Salesforce Customer 360 Platform, unites Configure, Price, and Quote (CPQ), Billing, Partner Relationship Management, and B2B Commerce functionality1. It aims to help businesses better manage their revenue streams, enhance forecasting capabilities, improve efficiencies, and accelerate growth across all sales channels1.

In the context of the user story, the company wants toreward loyal customers by including previously purchased quantities in pricing calculations on the quote. This can be achieved by using discount schedules with cross orders checked2.

Discount schedules in Salesforce Revenue Cloud allow businesses to implement dynamic pricingstrategies with rules that trigger changes when specified products are on a quote2. By checking cross orders,the system can consider the quantities of a product that a customer has purchased across multiple orders when applying bulk discounts2. This way, the more a customer purchases over time, the greater the discounts they can receive, thereby rewarding their loyalty2.

References

Salesforce Revenue Cloud

Understanding Salesforce Revenue Cloud

To create a new payment method for acredit card that will be saved for future payments, the Revenue Cloud Consultant should follow these steps:

Navigate to the account record that needs the new payment method.

Find the Payment Methods related list, and then click New Payment Method Credit Card. This button opens a form that allows entering the credit card details, such as card number, expiration date, cardholder name, and billing address.

Optionally, select a payment gateway record to associate the payment method with a specific gateway. If no payment gateway is selected, the default gateway for the org is used.

Optionally, select the Autopay checkbox to make this payment method the default one for all transactions on this account.

Click Save. This action creates a new payment method record and also sends a request to the payment gateway to tokenize the credit card information. Tokenization is a process that replaces sensitive data with a unique identifier that can be used for payment processing without exposing the original data.

Once the payment gateway returns a token, the payment method record is updated with the token value in the Payment Gateway Token field. This token is used to process payments with this payment method in the future.

Order Product: The status of the Order Product is updated when the corresponding Invoice Line is posted. The fields such as ‘InvoiceRun Processing Status’, ‘Next Billing Date’, ‘Next Charge Date’, and ‘Last Charge To Date’ are updated for the next period1.

Invoice Line: The Invoice Line objectis updated when an invoice is posted. This includes locking the Invoice Line from further changes and finalizing the agreement represented by the invoice2.

Invoice: The Invoice object itself is updated when an invoice is posted. This includes changing the status of the invoice from ‘Draft’ to ‘Posted’, which locks the invoice from further changes and makes it ready for revenue recognition reporting2.

It’s important to note that posting an invoice finalizes the agreement and prevents deletion of the invoice or any of its invoice lines. This ensures that your organization always has a record for legal and bookkeeping purposes2.

 To implement the user story of rewarding loyal customers with bulk discounts based on previously purchased quantities, the design of the solution should include the following components:

Contracts, Subscriptions and Assets should be populated with historical data. This is necessary to track the customer’s purchase history and determine the appropriate discount tier for each product or service. Contracts, Subscriptions and Assets are the core objects of Revenue Cloud that store the information about the customer’s agreements, recurring charges, and entitlements. By migrating the historical data from the legacy system to these objects, the customer can leverage the Revenue Cloud features such as renewal management, usage-based pricing, and revenue recognition. 123

Discount schedules with Cross Orders checked. This is the feature that enables the bulk discounts based on previously purchased quantities. A discount schedule is a set of discount tiers that apply to a product or a product option based on the quantity or amount ordered. By checking the Cross Orders option, the discount schedule will consider the quantities from all the orders associated with the same account, contract, or subscription. This way, the customer can reward their loyal customers with lower prices for higher volumes. 45

In Salesforce CPQ, if a custom field is an input to product prices and you want a change in this field to trigger a recalculation, you should add this field to the calculating fields field set. This is because Salesforce CPQ’s Advanced Quote Calculator determines quote and quote line prices in response to user or automated actions1. Therefore, adding the ‘partner type’ field to the calculating fields field set will ensure that setting the partner type on the quote triggers a new calculation. References

The CPQ Quote Calculation Sequence - Salesforce

 Contracted Pricingis the object that stores the negotiated prices and discounts for each account and product combination. Contracted Pricing allows sales users to create new quotes with the same pricing terms that were agreed upon in previous contracts, without having to manually adjust the prices or discounts. Contracted Pricing also enables businesses to maintain pricing consistency and accuracy across different channels and systems. To use Contracted Pricing, legacy data from accounts, contracts, and quotes need to be loaded into the Contracted Pricing object, along with the relevant price book entries and product options. 12 References:

Contracted Pricing - Salesforce

Migrate Legacy Data to Contracted Pricing - Salesforce

 A Salesforce CPQ implementation can suffer from poor performance due to a large number of active pricerules supporting complex pricing requirements. To improve performance in this area, a Revenue Cloud Consultant can consider the following tactics:

Implementlookup price rules where applicable (Option B): Lookup price rules in Salesforce CPQ allow for the mapping of data points on a quote line to data in a custom object, finding a matching record with the same values, and retrieving an associated field value from the matched record1. This can help reduce the number of price rules needed, thereby improving performance1.

Implement Quote Calculator Plugin where possible to replace price rules (Option C): The Quote Calculator Plugin in Salesforce CPQ allows for the addition of extra functionality to the quote line editor with custom JavaScript code2. This can change how calculations are performed and manage page-level security such as field visibility2. By replacing some price rules with functionalities in the QuoteCalculator Plugin, the number of price rules can be reduced, leading to improved performance2.

The correct sequence of evaluation events for a price rule, quote calculator plugin (QCP), and CPQ package pricing engine is as follows:

Internal Initialization: This is the first step where the system prepares for the calculation process.

On Initialization: At this stage, any price rules that are set to trigger ‘On Initialization’ are run.

Calculate Formulas: The system evaluates formula fields.

Before Calculate: Any price rules that are set to trigger ‘Before Calculate’ are run.

Calculate Quantities: The system calculates quantities, for example, bundle components.

On Calculate: Any price rules that are set to trigger ‘On Calculate’ are run.

Price Waterfall Calculation: The system calculates out-of-the-box pricing tools such as block pricing, discount schedules, etc.

After Calculate: Any price rules that are set to trigger ‘After Calculate’ are run1.

This sequence ensures that all calculations and price rules are applied in the correct order, providing accurate pricing information1. References: 

https://help.salesforce.com/s/articleView?id=sf.cpq_price_rule_considerations.htm &language=en_US&type=5

https://help.salesforce.com/s/articleView?id=000388745 &language=en_US&type=1

The reasons for establishing a governance structure as part of your Revenue Cloud project include:

B. To establish a communicationplan between the implementation team, the customer, and the work is coordinated between them: This is essential to ensure clear and ongoing communication throughout the project, aligning all stakeholders towards common goals and facilitating timelyresolution of issues.

D. To get agreement on the roles and responsibilities of the implementation team and customer: Defining roles and responsibilities helps in setting clear expectations, distributing tasks, and accountability which are critical for theorganized progression of the project.

E. To ensure the implementation team is aligned with the customer on assigned work: Alignment on the assigned work ensures that both the implementation team and the customer have a mutual understanding of project objectives, deliverables, and expectations, leading to a smoother project flow and reducing the likelihood of misunderstandings and reworks.

These aspects are derived from the standard practices and objectives in implementing complex IT projects like SalesforceRevenue Cloud, where coordination, clear communication, and defined responsibilities are fundamental for success.

 In Salesforce Revenue Cloud, the feature needed to split Order Products into different Invoice runs is the Invoice Group. The Invoice Group field on the order product is used to define more levels of grouping. After the invoice run groups order products by their billing account and payment terms, it then considers the order’s invoice grouping. This process is usefulfor invoicing certain types of order products separately from your other order products1.

To design a multi-leveled approval matrix for controlling discounts on quotes, Universal Containers should consider the following:

Identify backup approvers in case the primary approver is out of the office. This will ensure that the approval process is not delayed or stalled due to the unavailability of the primary approver. Backup approvers can be assigned using the Delegated Approver feature in Salesforce, which allows users to delegate their approval authority to another user for a specific period of time. 1

Define the discount threshold or limit allowed for the sales reps. This will help to enforce the pricing policies and prevent excessive or unauthorized discounts. The discount threshold or limit can be defined using the Approval Thresholds feature in Salesforce CPQ, which allows setting up different approval rules based on the discount percentage, amount, or margin. 2

Document the discount approval levels for each approver. This will help to clarify the roles and responsibilities of each approver and the criteria for approving or rejecting a quote. The discount approval levels can be documented usingthe Approval Processes feature in Salesforce, which allows creating a sequence of steps and actions that an approval request must go through. 3

Contracted pricing is a feature of Salesforce Revenue Cloud that allows sales users to create new quotes with established rate cards and account specific discounts. Contracted pricing enables sales users to honor the pricing that was originally negotiated with current customers, regardless of any changes in the product catalog or price book.Contracted pricing works by creating contracted price records for each productand account combination, and applying them to the quote lines when creating a new quote. Contracted pricing can be created manually or automatically, and can be based on existing quotes, orders, or contracts. Contracted pricing is the best option to fulfill the user story, as it can store the legacy data of the original pricing agreements and use them for future quotes. 

Subscription is not the best option, as it is a feature of Salesforce Revenue Cloud that allows sales users to create recurring revenue streams from products or services that are sold on a periodic basis. Subscription does not store or apply the legacy data of the original pricing agreements, but rather uses the current product catalog and price book. Subscription is useful for creating quotes for new or renewing customers, but not for honoring the pricing that was originally negotiated with current customers. 3

Order products are not the best option,as they are records that represent the products or services that are sold to a customer through an order. Order products do not store or apply the legacy data of the original pricing agreements, but rather use the current product catalog and price book. Order products are useful for creating invoices and revenue schedules, but not for creating new quotes with established rate cards and account specific discounts. 

Entitlements are not relevant to the user story, as they are records that represent the service level agreements or support terms that a customer is entitled to based on their purchase. Entitlements do not store or apply the legacy data of the original pricing agreements, but rather use the current product catalog and price book. Entitlements areuseful for managing customer service and support, but not for creating new quotes with established rate cards and account specific discounts. 

Having the customer's Executive sponsors participate in the kickoff of a RevenueCloud implementation is crucial for several reasons:

A. To endorse project plan and timelines of the transformation efforts: Executive sponsorship is essential for endorsing and supporting the project plan and timelines. Their backing ensures that the project aligns with broader organizational goals and gets the necessary resources and attention.

C. To assure project objectives are being met: Executive sponsors help in assuring that the project objectives align with the business’s strategic goals. Their presence in the kickoff meeting reinforces the importance of these objectives and ensures they are clearly communicated and understood by all stakeholders.

E. To provide finality in escalations paths: Involving executive sponsors in the kickoff provides a clear escalation path for addressing issues that might arise during the implementation. This setup helps in resolving conflicts or challenges swiftly, ensuring the project stays on track.

Executive involvement from the beginning underscores the strategicimportance of the project, facilitates alignment on expectations and resources, and establishes a clear governance structure.

In Salesforce Revenue Cloud, if a cash payment has been posted to the wrong account by mistake, the recommended steps to correct this are as follows:

Allocate the Payment: If the payment has been allocated, the first step is to allocate the payment. This means assigning the payment to the specific invoice it was intended for.

Create a Refund: Once the payment has been allocated, the next step is to create a refund. This will effectively reverse the payment that was made in error.

Create a New Payment for Account B: After the refund has been created, a new payment can be made for the correct account (Account B in this case). This payment should be allocated to the correct invoice on Account B.

It’s important to note that these steps ensure that the payment records are accurate and reflect the correct allocation of funds. This is crucial for accurate financial reporting and for maintaining the integrity ofthe account’s payment history.