September 16, 2019 by Manufacturing AUTOMATION
September 16, 2019 – Salesforce has released the Manufacturing Cloud, a new industry-specific product for manufacturers.
Manufacturing Cloud, the newest industry-specific product from Salesforce, delivers business visibility and collaboration between the sales and operations organizations of a manufacturing company. This allows them to have a better view of their customers through new sales agreements and account-based forecasting solutions, providing visibility into their customer interactions while enabling them to generate more robust sales forecasts.
Salesforce has collaborated with major manufacturing and sales companies through the product pilot program, including Kawasaki Motors Corp., U.S.A. – Engines Division, Hitachi Chemical, CF Industries, Mipox, GELITA and more.
Sales agreements allow manufacturers to unify their run-rate business with data housed in ERP and order management systems with the contract terms negotiated—including planned volumes and revenues—so both operations and account teams can have a 360-degree view of the customer. If any changes to the agreement are needed, they are immediately incorporated into the existing sales agreement, ensuring there is always a single source of truth.
This allows account teams to manage the full sales agreement lifecycle and have visibility into committed and actual order volumes, the performance of the agreement against the forecast and other time-phased custom metrics. This also simplifies the renewal process, ensuring account teams continue to bring in revenue while increasing margins.
Account-based forecasting provides manufacturers with a complete view of their current business alongside future opportunities. This allows sales, finance and operations teams to develop more accurate forecasts while breaking down internal silos. Account teams can also add updates on changing customer needs or market demands, allowing the team to collaborate and adjust forecasts in real-time, helping to make business transactions, profits and revenue margins more predictable.
In addition to Manufacturing Cloud, Salesforce is also releasing Einstein Analytics for Manufacturing, which provides account managers with access to an intelligent experience with out-of-the-box KPIs into account health, demand insights, product penetration and sales agreement progress.
By centralizing and analyzing key data sources, account managers can proactively engage clients that are at highest risk for churn. In addition, by identifying key trends within an account, account managers can proactively grow their relationship by recommending relevant upsell and cross sell opportunities.
Community Cloud for Manufacturing will deliver a new pre-built template specific for manufacturers that extends sales agreements to channel partners, allowing them to easily collaborate together on leads and opportunities.
Manufacturing Cloud, Einstein Analytics for Manufacturing and Community Cloud for Manufacturing will be generally available in October 2019.