CPQ Customization For Streamlining Quoting and Taxation For An Asset Management Firm
65%
Faster quote processing
100%
Accurate tax generation on quotes
40%
Reduction in errors in total price calculations
Overview
From scattered records to a single automated flow
What You Need to Know
Customizing Salesforce CPQ is important because it helps the sales team in closing deals faster and more efficiently. Additionally, it streamlines the quoting process, helps companies launch new revenue models and more. In short, Salesforce CPQ can give your sales team easy-to-use software, which results in the increased efficiency of the team.
Why It Matters
Salesforce CPQ, a popular quoting and pricing tool helps sales teams generate accurate and custom quotes. It helps in streamlining the sales process and improving the business efficiency.
How HIC Helped
HIC Global Solutions tailored Salesforce CPQ, introducing new processes and functionality, and Conga integration for a streamlined quoting process.
Challenges Faced
Bottlenecks slowing every hand-off
Tax Calculation Challenges for Dynamic Quotes
Difficulties in accurately generating tax on quotes while simultaneously accommodating multiple products and quantity changes
Accurate Tax Code Management for Quotes
Managing taxable and tax-exempt product codes accurately across quote records and account selections. Complexities in accurately calculating the total price of all taxable products within a quote.
Manual Calculation in Quotes
Manually calculating the total value of all products within a quote accurately.
Inefficient Approvals and Missing eSignatures
Disintegrated Approval process and lack of capturing e-signatures delayed the authorization of quotes and associated activities.
About the Company
Asset Panda is a leading cloud-based asset management software company based out of Frisco, Texas. Founded in 2013, this company helps businesses track and manage their assets.
Asset Panda offers a variety of features, including asset tracking, maintenance management, and reporting, catering to a vast range of industries such as construction, healthcare, education, and government.
As a cloud-based service provider, Asset Panda is known for its ease of use and accessibility from everywhere.
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Solutions Offered by HIC
One pipeline, from record discovery to secure delivery
An Advanced Approval Process
Set up an advanced approval process within CPQ to involve stage-by-stage approval from managers to leaders before quotes are sent to sales reps for quote generation. The approval process ensures that quotes are thoroughly reviewed and authorized.
New Tax Functionality for Accurate calculation
Created a Tax functionality button within CPQ for accurate calculation and application of taxes on each quote line item. It enables users to add tax information to individual product line items on quotes, ensuring compliance with tax regulations.
Tax Product Integration
Incorporated a Tax Product that aggregated the total tax amount from all tax codes associated with each quote line item. This feature automatically calculates and displays the total tax amount, reducing manual effort and potential errors.
Conga Integration for Faster Document Signing
Integrated Conga, a leading document generation and e-signature platform, to capture electronic signatures for authorization of quotes by allowing users to digitally sign and approve documents.
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