CPQ Customization For Streamlining Quoting and Taxation For An Asset Management Firm
About the Client
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.
Challenges faced
Asset Panda, a prominent company in its industry, recognized the need to streamline its operations and improve its quoting process.
- Difficulties in accurately generating tax on quotes while simultaneously accommodating multiple products and quantity changes
- 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.
- Manually calculating the total value of all products within a quote accurately.
- Streamlining its operations by creating quotes and seamlessly adding products across all opportunity types.
- Disintegrated Approval process and lack of capturing e-signatures delayed the authorization of quotes and associated activities.
Solutions Offered
When brought in to address specific requirements related to quoting, approvals, taxation, product calculation, and document management, the developers at HIC Global Solutions offered customization of the Salesforce CPQ (Configure, Price, Quote) platform for streamlined quoting and taxation functionalities.
Here is a rundown of the solution offered:
- 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. - 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. - 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. - 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.
Technology Used: Salesforce CPQ and Conga
Key Improvement for Client
Result:
- Accelerated quote approval process.
- Increased compliance with tax regulations and pricing accuracy.
- Enhanced quoting accuracy and compliance.
Work Done
India 
USA
UK
Canada