What is Vlocity and How does it Add Value to Salesforce

Vlocity, Salesforce’s latest $1.33 billion acquisition, is almost certainly familiar to you. Through Salesforce vlocity Training, let’s look at how Salesforce, as well as its clients, benefit from the Vlocity acquisition. Likewise, whatever growth avenues does the ISV bring? Salesforce, the worldwide CRM leader, has been providing end-to-end business solutions for over two decades, from lead generation to customer success, with the added benefit of an AI-driven analytics tool and a cutting-edge IoT-based solution. Salesforce’s cloud-based products take a 360-degree view of the customer.

What’s the big deal about Vlocity? What contribution does it provide to the ecosystem?

Salesforce has always focused on letting their customers build specialist solutions for sectors vertically, whilst providing substantial solutions across a wide range of sectors laterally. Vlocity makes a note of it there. Certain businesses can benefit from employing an integrated solution all in one location thanks to Salesforce’s all-encompassing technologies and Vlocity’s in-depth industry-based experience. Vlocity, as a relatively new cloud expert, has amassed extensive technological expertise in six distinct industries, including:

  •  Communications,
  •  Media and Entertainment,
  •  Energy and Utilities,
  •  Insurance,
  •  Health and
  •  Government

What is Vlocity?

Vlocity (Salesforce Sectors) provides pre-built Salesforce solutions to meet the needs of specific industries which require CRMs that are significantly customized beyond Salesforce’s out-of-the-box state. Vlocity, which was founded in 2014, swiftly established itself as an “industrial cloud” pioneer, receiving 3 Forbes Cloud 100 honors in 2017, 2018, & 2019. What factors aided them in achieving such quick success?

Vlocity applications (based on the Salesforce platform) provide multichannel sales, advertising, servicing, and CPQ solutions to specific industries like Communications, Health coverage, Energy and Utilities, Financial Services, Multimedia, Healthcare, and Public Sector.  The secret to success is straightforward. Companies profit from pre-built flows and procedures that would otherwise take several months (& millions) to construct custom.  Salesforce purchased Vlocity in 2020. Salesforce has been able to include Vlocity’s industry-specific CRM systems in its current Salesforce Industries offerings as a result of the acquisition. Vlocity’s creator David Schmaier maintained his position as CEO of Salesforce Enterprises, a corporate unit in charge of establishing clouds for new verticals, following the rebranding.

Communications Vlocity:

The communication industry needs to undergo a change that would improve digital consumer offerings. Vlocity Communications works seamlessly using Salesforce Service Cloud to create a solution that provides customers with a personalized and consistent experience across all channels. This increased the influx of new clients as well as reinforced the existing customer base. Salesforce Service, CPQ, CloudEnterprise Product Catalog, and other omnichannel features are used by Vlocity Communications. Contact center workers and marketing experts will be able to simplify the final client experience thanks to its integration.

What are some of Communications Vlocity’s Salesforce-based services?

Intelligent Service: Industrial Rich Intellect aids agents in determining and comprehending the precise needs of customers.

Enhances the Retail User Experience: It focuses on customized solutions to provide and improve customer experience.

Efficiently organized orders: It aids directed selling by allowing users to select between Individual & Protect Margins.

Vlocity and Matrix Software have teamed up to create telco-rich digital journeys that span devices and channels.

Customers may customize their experience of exploring, buying, and regulating digital services, as well as keep a record of real-time consumption and receive updates.

Media and Entertainment Vlocity:

Vlocity provides a comprehensive collection of solutions to cater to the demands of the entertainment industry. Its goal is to increase B2B and B2C digital customer engagements.

New and existing members can get suggestions for different products, tailored offers, or payments, among other things, thanks to the pre-built systems. Clients of Vlocity also have access to industry-specific Salesforce data structures with pre-structured procedures.

What are some of Media Vlocity’s Salesforce-based services?

GoMedia Subscriber: As for the release of new media goods in the organization without sacrificing B2C transactional and transactional complexity.

GoMedia Ad Sales: Optimize cash flow & income from ad inventory with GoMedia Ad Sales. It streamlines ad sales, budgeting, and execution across all channels.

GoMedia Commerce’s goal is to expand the number of high-volume, encrypted, and confidential e-commerce transactions available. For B2B, B2C, and D2C situations, these abilities encompass advanced promotions, bundling, or pricing.

GoMedia OTT Streaming: To enter the OTT/Media/Video streaming industry with a very well subscriber management platform. It facilitates the transformation of conventional post-paid invoicing and payment processes into easy, prepaid, & online services.

What is Salesforce Industries, and what does it do?

Salesforce had a step up on the latest vertical solutions after acquiring Vlocity. In general, the 12 existing industry clouds are making progress inside the Vlocity apps. These add to Salesforce’s existing data model and give out-of-the-box services which reflect their industry’s language.

Two often used “clouds” are, for example:

Organizations gain all the tools and apps they need to develop subscription services and handle orders, quotations, and contracts in an agile manner with Media and Communications Clouds.

Financial Services Cloud: Provides a consolidated system with a unified customer’s perspective of their policy, financial information, and claims to support the banking, financial advisory, and insurance markets.

Marketing, sales, commercial agility, and also operating efficiency, are all enhanced by these clouds, which reduce time to value.

What is Salesforce Vlocity, and how does it work?

Salesforce Vlocity is the hottest innovation on the Salesforce platform, which is the industry’s leading provider of industry-specific solutions and software. It stands out as a worldwide forerunner in Customer Relationship Marketing, transforming the total customer experience (CX) (CRM). Vlocity also aids in the comprehension of the CMT, healthcare, and insurance realms. Salesforce Vlocity also has a lot more to offer, such as Lightning Web Omnichannel processes, Integration processes, Vlocity Actions,  Tracking services, Data Migration, and so on. Salesforce Vlocity also improves CPQ and guided selling. Salesforce Vlocity is a trailblazer, enabling a slew of top and up-and-coming businesses to achieve their goals through its Omnichannel processes.

What are the benefits of the Vlocity acquisition for Salesforce partners?

Whereas the cloud-based software firm has established a solid platform with broad application and usefulness, it has also empowered its collaborators to execute Salesforce’s solutions that respond to various organization needs. Vlocity’s takeover has opened up new avenues for possibilities that are pertinent to Vlocity’s expertise.

Whether Vlocity is a CPQ?

Vlocity has a variety of built-in components, like CPQ, that give standard processes a new spin. One of the platform’s parts is Vlocity CPQ (currently Industries CPQ). It aids in the automation of the quote generating and sales flow processes.

What capabilities does it have?

  • Guidelines for configuring products using automation.
  • Complex pricing, quote approvals
  • An approach that is focused on the industry.
  • Design templates for documents and quotes.
  • To set up and monitor CPQ in one place, use the Enterprise Product Catalog (EPC).
  • Contract lifecycle management, guided selling

How does the takeover of Vlocity benefit customers?

Let’s start with a case study of how Vlocity has aided Telus, a communications company.

Telus is a telecommunications firm based in Canada that offers wireless, information, Internet protocol (IP), audio, tv, entertainment, and video services.

Telus decided to use its most important indicator, Likelihood to Recommend, to measure customer loyalty (L2R). L2R is a component of an NPS (Net Promoter Score), which assesses customer happiness and is linked to sales and profit growth at Telus. As a consequence, an attempt to enhance quality service was initiated with four goals in mind:

  • Improve the “Time to Market” (TTM) for new products.
  • “Average Handling Time” should be reduced (AHT)
  • Reduce the time it takes to complete a “Quote to Order” cycle.
  • Ensure that the experience is uniform across supported and unaided channels.

Telus began by implementing Salesforce’s Service Cloud as well as the CPQ (Configure, Price, Quote) technology. The CPQ software wasn’t flexible enough or needed the flexibility to create bids and record requests for communication systems until Service Cloud reorganized account, contacts, lead, and opportunity management, resulting in higher L2R scores. It could take up to 20 minutes for an agent to provide a quote for a consumer.

Telus was first reintroduced to Vlocity once at the Dreamforce event at that time. Telus recognized Vlocity already had developed whatever they had spent millions of dollars and months developing: Communications Industry Cloud.

As a consequence:

  • Customer L2R has increased by 10%.
  • Order accuracy has improved by 24%.
  • Faster quotation and order by 54%
  • Product launches are completed in 80 percent less time.

We can obviously see just how Vlocity can aid customers in particular industries by sparing them huge amounts of money and allowing them to commence production much more quickly.

Conclusion

Salesforce programmers will have to become familiar with and grasp Vlocity’s products in order to smoothly support clients in various integrations and modifications as the number of clients seeking Vlocity’s solutions may increase. As a result, integrating Salesforce’s omni channel features with Vlocity’s in-depth industry knowledge will benefit a wide range of clients around the world who are searching for industry-specific services that seem to be critical to conducting their company’s operations in a unified manner.

Related Articles

Latest Articles