Vlocity Clm (2024)

FAQs

What is the difference between Salesforce and Vlocity? ›

What is the difference between Vlocity and Salesforce? Salesforce is like a toolbox for managing customer information and business operations. It's versatile and can be used by all kinds of businesses. Vlocity, on the other hand, is like a set of special tools that you put on top of the Salesforce toolbox.

Vlocity CPQ supports the capture of MACD orders based on the context of services the customer already owns. • Re-parenting features ensure that individual services are optimized to the most cost-effective bundle. Attribute-based configuration & pricing. •

Contract lifecycle management (CLM) automates and streamlines contract processes during key stages. These stages include initiation, authoring, process and workflow, negotiation and approval, execution, ongoing management and compliance (within the repository), and contract renewal.

Conga CLM allows you to schedule jobs to automate recurring tasks, such as refreshing agreement data, setting the expiration date for the links used to download multiple agreements, extracting intelligent data, and generating reports.

Salesforce Industries is the new name for Vlocity.

It's been a big news day for Salesforce. It announced that co-CEO Keith Block would be stepping down, and that it had acquired Vlocity for $1.33 billion in an all-cash deal. It's no coincidence that Salesforce targeted this startup.

Bringing Vlocity into that mix further expands the footprint of Salesforce's industry cloud offerings and adds new fuel to keep its continued growth on track. As part of Salesforce, there's greater potential to grow the Vlocity footprint than the startup would have had by staying independent.

Low-code Development

Vlocity applications do not require the developers to write extensive lines of code and spend a considerable amount of time in development.

The rising popularity of Vlocity in the Salesforce ecosystem resulted in high demand for Salesforce Vlocity Developers, making them one of the most sought-after Salesforce resources.

Contract Lifecycle Management (CLM) Defined

Effective and proactive contract lifecycle management is achieved through the use of contract management software. Having a CLM system streamlines these critical stages, from initial drafting to final renewal, by automating workflows and centralizing contract data.

Is CLM an ERP? ›

CLM ERP software acts as a centralized repository for comprehensive contract management, providing easy access to contracts, amendments, and related documents.

CRM concentrates its efforts on fostering, observing, and nurturing customer relations. This often manifests in tools designed to manage customer engagement and track sales data. CLM takes a broader view, examining the customer's journey from first contact to loyalty and advocacy.

Sales Process Integration

You can integrate Industries CLM throughout the sales cycle, from contract authoring to enforcement. Sales teams can create contracts from opportunities, quotes, and orders. Automatic renewal notifications for expiring contracts help maximize revenue opportunities.

The main difference between CPQ and CLM solutions is that CPQ software is used to generate pricing and quotes, while CLM software is used to generate and manage contracts. In other words, the solutions automate admin work for different stages of the sales cycle.

By using CLM software, legal and business teams can effectively manage contracts at every stage and minimize the amount of manual work required. This means a more efficient and streamlined process from start to finish.

Vlocity built vertical-specific Salesforce customizations on the Lightning Platform, which made incorporating them into the Salesforce universe quicker and more straightforward than software from other companies Salesforce has acquired, France said.

Sales velocity shows the rate at which leads are progressing through your sales funnel, generally measured by revenue generated in a specific period of time. It uses four metrics to calculate this: number of opportunities, average deal value, win rate, and average length of sales cycle.

There are no specific requirements to learn Vlocity. Anyone without having a prior understanding of any coding can understand Salesforce Vlocity without many hindrances as there is a no-code platform.

The key differences between Salesforce Visualforce and Salesforce Lightning are primarily rooted in their design philosophy, user interface capabilities, and development approach. Visualforce is more traditional, focusing on page-centric application design with a strong emphasis on server-side processing using Apex.