Right now, let's dive
into how one company
has transformed its
revenue strategy
with Agent Force
Revenue Management. If
you've ever needed
blood work done,
there's a good chance
you've gone to LabCorp.
It operates in more
than 100 countries,
and it's a global
leader in life
sciences, providing
crucial laboratory and
end-to-end drug
development services.
To learn about LabCorp's
innovation journey
with Salesforce,
we're joined by Doug
Denson, the Executive
Director of Commercial
Operations at LabCorp.
Welcome, Doug. It's
a pleasure to be
here. It's a pleasure
to talk with you, and
I'm excited to talk
with you because I have
had to have my work
done. So, like I said,
everyone's familiar
with your brand, but
your team is implementing
AgentForce Revenue
Management to
manage its quote-to
-cash processes. Can you
tell us what that
means? Yeah, absolutely.
So, Revenue Lifecycle
Management is an end
-to-end platform that
can do things from
configure price quote,
contract lifecycle
management, all the way
to invoice and billing.
So, it's really an
end-to-end strategy.
For us specifically,
we're focused on configure
price quote, and
we have a project
going on with that
today. Awesome. It sounds
like a powerful solution.
So why did LabCorp
decide to make this
move? And what are
some of the key
problems you guys were
looking to solve? Good
question. So we kicked
off this journey
probably almost two
years ago and started
with process and trying
to figure out what's
the right process
before we even got
into technology. And so
then when we evaluated
technology, we were
trying to figure out
how we solve some of
our needs. So a
proposal manager within
our organization can
be up to 10 different
applications to get
a quote out the door.
Things like
Outlook, Excel, very
heavy in Excel,
very disjointed.
And we couldn't do
anything with the data.
And so we needed an end
-to-end solution that
could really pull
all that together and
help our proposal
managers not do duplicate
entry and get more
accurate data out of it.
And so we chose revenue
lifecycle management
for that. Awesome. And
you said Excel, which
is, wow, we haven't
heard that word in a
while, it seems like,
which is a lot of
manual data entry with
that many steps. So you've
moved to an automated
system and a unified
platform. There
has to be a lot of
transformation for LabCorp.
So can you tell us a
little bit about some
of the challenges you
are facing? Yeah. So
it's a big project.
And I think, you know,
we chose to do this
internally. So we did
bring an architect to
help with it because
we're new to revenue
clouds. We needed a
little bit of help there.
And I think some of
the nimbleness was
a little bit
difficult, right? The
requirements, this is
a change for everybody.
And so we had to be a
little bit more agile
than we probably
initially had started
off doing. We also broke
it into phases. And
I think that that's
really been smart. So
we picked probably
one of the easier
solutions to kind of go
with more of a lift and
shift just to get us
out of Excel and into
new platform. But
looking forward, we
want to really start
to use some of the open
API technology. And
there's a lot there.
And so we really want
to maximize some of
that automation and
take in, you know,
platform to platform.
So instead of people
duplicate entry things
into multiple systems,
can we have source
systems actually feed
Salesforce and actually
go there? So a lot of
exciting stuff that
we're going to go with
this project. I love to
hear that. And you said
something key that we
tell a lot of customers,
which is to start a
small project, a lift
and shift project like
you guys did. So I
want to hear about some
of the results because
it sounds like it is
working and you're
having some success so
far. So tell us about
some of the things that
have changed for your
team. Absolutely. So
probably the biggest
read out of the gate,
we talked about the
duplicate entry and copy
and pasting in Excel.
And so using things
like Omni Studio, we're
able to pull multiple
quote line items together
into one. So, again,
historically, somebody
is copying and pasting
that from Excel.
And so with Omni Studio,
with a click of a
button, we have a client
ready quote that can
go out the door. So
that's a big change for
us. And we've also
leveraged some Apex.
We've even used, you
know, from some of our
currency conversions,
how we're doing exchange
rates, right? We were
able to leverage using
a little bit of code,
but that's really
helped us kind of make
that more efficient. So
trying to use every
piece we can. I love
it. Key efficiency gains
that you're seeing.
And it's clear this
is just the beginning.
So tell us a little bit
more about what's to
come with Salesforce
for you all. So I shared
a little bit. This is
a multi-phase project.
And so we really want
to get into more of
those API integrations,
which I think is
going to be transformational
for us. But then
we're looking ahead. I
mean, with everything
that's going with
AgentForce and Tableau
Analytics, you know,
once we get it built, are
there other efficiencies
that we can start
to do with AgentForce?
And I talked about
moving from Excel and
consolidating that in.
We look at Tableau,
right? So once
we have all
that data in the
centralized spot, I
think we can really
go a lot of places
with Salesforce.
I love to hear that. And
I'm sure our customers
would love to hear
that as well. It
sounds like LabCorp is
truly at the forefront
of this kind of
transformation. So thank you
for sharing your
insights with us today,
Doug. To learn more
about AgentForce Revenue
Management and what it
can do for your company,
scan the QR code on
the screen or go to
sforce.co forward slash
revenue management.