Complex Quotes in Minutes with iQ CPQ

00:05Well, hello everyone and thank you for joining us today. We're excited to have you here for our webinar of Luxent's iQ CPQ for quoting custom and complex products in NetSuite. All right, let's jump right in. So first off, just kind of a quick agenda of what we are going to be covering today. I'll do some quick intros to Hunter and I and then I'll do a quick intro to Luxent and Hunter will walk us through, you know, what iQ CPQ is, how it's helpful and beneficial, some key features, and then jump right into a live demonstration.

00:34And then we'll close this out today with some questions and answers. All right. Well, first off, I'd like to introduce Hunter. Hunter is a senior iQ engineer here at Luxent and he's been in the consulting space for about 5 years working in all things CRM and ERP. And Hunter has lots of experience working with manufacturing teams, helping them improve their quoting process and and kind of just all things in that CRM quoting world. So, welcome Hunter. Thank you for joining us today. >> Thank you. >> And I am Brooke Eippert, marketing director here at Luxent, and I work closely with a lot of growing companies as they they grow and scale on NetSuite.

01:17So, with that, I wanted to give you guys a quick introduction to Luxent. So, before we get into the good stuff, a little background on who Luxent is. We've been helping companies grow, uh implement, grow, and scale on NetSuite for a little over 16 years. We're a premier NetSuite solution partner and a certified SuiteCloud development partner. So, we can implement and uh sell and develop on the NetSuite platform, which is very exciting. So, we cover the full life cycle of NetSuite from the selection, implementation, integrations, custom development, and ongoing support of of NetSuite systems.

01:53Our consultants average more than 10 years of experience and we focus on companies in the wireless communication, medical device, food and beverage, software, and a handful of other industries kind of spaces. So, now that you know a little bit more about Luxent, let's get into iQ. All right, Hunter, I'm going to pass it over to you. >> All right. So, why might you be interested in iQ? Uh See here. All right. So, yeah, iQ is built for complex manufacturing quoting. Um so, we've worked with tons of manufacturers and each one has a unique um process and iQ handles it all.

02:30Uh it's flexible and scalable. As I mentioned, we've worked with tons of manufacturers. Um we put in tons of automation and things that it can do. Um it also supports uh products, bundles, uh assemblies, item groups, you know, everything you can think of it can handle. Uh it's easy to implement and maintain. So, we have many clients who've been on the uh iQ platform for a long time. Uh and most of the feedback that we get is that it's easy to administer on the day-to-day, it's easy to add products.

03:06Um if they need to add an an automation, they can do that. Um and they handle it in-house. Um but we're also here to support, you know, if needed. Uh it's also global ready, so we have multi-currency, uh multi-country, we have customer-specific pricing. Um and it makes quoting faster. So, we see, you know, quoting in iQ compared to quoting in NetSuite, it is really streamlined. Um and, you know, makes it go by faster. Okay. So, before we go into the demo here, uh just want to go over some of the key features.

03:43So, um from a configure standpoint, we have our product configurator. Uh our product configurator is easy to configure, Uh it's user-friendly, easy to administer. It can generate smart product codes and manage product dependencies to ensure that your users are only quoting compatible options for your products. So, an example of this, we have a client that creates fuel trucks. And there's so many hoses and fuel transfer systems that they use. And iQ makes sure that they only select the compatible products.

04:19We have our guided selling, so we have full search, attribute filtering. Um It allows you to narrow down and find the correct product. We can also show you the related products. So, this helps with upselling, cross-selling, finding alternate products, supporting maintenance plans. These can be added automatically to the quote, or you can select them from the side panel that you'll see. Um so, we do have multiple product types. So, we have configured products. These are like your engineer-to-order products.

04:56Um we have standard products, which, you know, maybe an inventory item. We have kits and bundles, which are assemblies. You can also create custom products or engineer-to-order. They support multi-level bill of materials and outside cost. We also have a built-in real-time validation, so incremental quantities and minimum quantities. Um pricing. So, we have a pricing rule engine built into iQ. So, you can define rules based on really anything. It could be fields on the quote, on the customer, on, you know, the products.

05:34We run promotions. So, um it supports discounts, adding additional products, adding charges such as shipping. And you can set those up to, you know, go into the quote automatically. We have customer and customer group specific pricing. So, we have many clients that have, um, you know, different clients that they work with. So, you could have distributors, uh, wholesalers, retail customers, and each one can have their own specific pricing. Uh, we also have tiered and quantity based pricing, uh, reoccurring and subscription pricing, uh, and multiple pricing options such as list pricing, cost markup, target margin, and multiplier based pricing.

06:21Um, we also have a margin health indicator. So, if you see the images on the screen, that's that green and yellow circle. Uh, we have a margin calculator that you can click on and adjust the pricing to make sure you're only quoting, uh, at the correct profit margin. Uh, so, that's really helpful for clients that have approval processes in place. So, maybe if they're quoting too low of a margin, um, we can notify the manager before they generate the quote. Uh, that manager can approve it, and then they can continue on with the quoting process.

06:57Uh, we also have multiple units of measure, so you can use eaches, pallets, um, cases, or any custom unit of measure that you have set up in NetSuite. Uh, we support sales taxes. So, we work with Avalara and TaxJar right out of the box. But, uh, we can support anything that has any kind of integration. Okay. Um, quoting. So, um, we have some really cool features in our quoting tool. So, you can upload a file or CSV or paste the information onto the quote, and it will add the products, um, directly into iQ.

07:35So, that way you don't have to manually enter all the products. This is really helpful if you're working with vendors who might send you like a product spec sheet and you just want to, you know, post those in iQ. Uh we also have an enhanced cloning. So, if you've created a quote recently or long time ago and you want to create one exactly like it, you can. Um and then after you've cloned it, you can make adjustments as needed. Uh we have quote groups. That's for organizing on the document. So, you'll see in the image there, we have golf carts, accessories, and services on that one.

08:11Uh and we have optional products. So, this allows you to quote a product and not necessarily have it in the subtotals, but it'll be on the quote document for your clients to see. Uh we do have a built-in template builder and it supports multiple images. So, we have uh a furniture company that we work with and they select multiple fabrics and colors um you know, right there on the showroom so that their clients can see, you know, what it might look like. Uh we have e-signature integrations with DocuSign, Adobe Sign, SignNow um and third-party document generators.

08:49So, if you want to use, you know, like Conga or Panda, uh you can do that as well. And we have a NetSuite integration and we also work with other ERPs as well. Okay. So, this is our standard NetSuite integration flow. Um it's designed to be simple and not cause duplicate data in NetSuite. So, you'll see in the master data, uh before you can create the transaction, you do need to have the customers and contacts. Uh if they have not synced, we will sync them to NetSuite. Um but we won't create them if they've already been synced.

09:28Same with products, we'll create the items and any bill of materials or manufacturing routing, if they're not already created. If they're created, we'll just send the items uh as they are. And then the transaction. So, we can create sales orders, quotes, opportunities, um really any transaction in NetSuite we can sync to. And then optionally, if you want, we can send the quote documents. So, all documents you attach to the quote. So, that could be the PDF rendering, it could be an Excel sheet, it could be an HTML file, um anything you might be using during the quoting process that you would like to have in NetSuite.

10:12Okay. So, with that, uh we'll jump into the product demonstration here. Okay. So, for this demonstration, I'm going to start here in NetSuite on the opportunity record. We could also do this from within iQ on a customer, if needed. Um so, I'm going to go ahead and hit this create iQ quote. And it will take us into iQ here. All right.

10:53So, for this demo, uh we're going to start off by adding standard products using our full search. So, I'm going to click on this. Our full search is great if um maybe you don't know the exact product name or product description, uh and you really want to use the attributes to filter down. So, in this example, uh I'm looking for a blue golf cart uh with an enclosed roof. So, I'm going to select golf cart. Uh I know I want it to be blue and to have two passengers, and be enclosed.

11:29So, uh we'll see here it narrowed it down to just one for us. And so, I will click the add button, and we'll get this green banner that says it's been added to the quote. So, if I close this out, we'll see it here. Uh we also have our quick search, so we can just type directly in here. Um like I mentioned, it could be the product name, code, description. Um for this one, I'm going to use the product code. And I'm going to add that to the quote. So, you'll notice here, it did add that product, um and it also added an optional product line.

12:10So, for this uh golf cart, we're wanting to add on the premium care plan. You'll know it's optional because it has this check mark here. Uh if we wanted to remove it as an optional product and add it to the quote, we can do that. Um we can also inline to edit any uh of these quote lines. So, if I wanted to adjust the quantity, I can do that. Or if I wanted to adjust the discount percentage, I could do that as well. Um and I can do that all from directly on the quote. Uh you will maybe have also noticed our recommended products panel.

12:49So, we're wanting to cross-sell the Bluetooth speaker with these golf carts. So, if I wanted to add that, I would just hit this add button, and it would go into the quote lines. As we mentioned during the key features, we also have the margin calculator. So, if I click on the margin icon, you can see here, we can adjust the target margin um on any of the lines here, and it will update the sales price. So, let's do that. We also um can add other products. So, we mentioned the option set products during our features here.

13:29So, that's like a miniature matrix product or miniature configurated product. So, I'm going to add that here. You'll know it's an option set because when it adds the lines, you'll have yellow boxes. So, these are selections that you can make. Uh if I wanted a large blue bike, we can add that. And you'll notice that the product code updated. Um So, it'll update the product code. It will also update the description. Um and you can also use it for dynamic pricing. Um we also have the import tool.

14:09So, this is our import agent here. Um I have a CSV open on the other side. So, let me copy my values. You can copy and paste them right into this import agent. If there's headers, it'll identify by those and map them to the correct columns. If you wanted to uh reprice them with your iQ rules, you can do that. Or you can use the imported price. You'll notice it found the products and it's going to import them here. And they were added. Um some other features we have are the product configurator.

14:50So, these are engineered order products. So, let me add that. So, now that I'm adding this engineer-to-order, it's going to open up our product configurator. So, in this case, we're going to do a white golf cart with an enclosed top. And as I make the selections, you'll notice that the smart code is being generated. And so, we'll continue down here. So, when you do these configured products, you can set up dependencies based on certain selections.

15:31Um you can also add products, so um these accessories are added as products, and you'll notice that in the custom action. So, as I configured these, the bill of materials were created with the product material. And if I were to add this ball and club washer, you'll notice that would be added as a quote line. For now, I'm just going to go ahead and remove that and save and exit. And so, that is our configured product. So, um we'll go into the product details here, and we can look at the manufacturing details for the bill of materials.

16:07Um so, we have bill of materials, we could add additional if we wanted to. We also support operations. So, this is the assembly operation, and we could add additional costs if needed. So, you would just select it from the list and hit add. Um going back to the quote here, we can even add completely custom products. So, if I do add a custom product, um we can start entering the information. So, I'm just going to call it custom product and custom product and custom.

16:52All right, so you'll see as I added that, uh we'll get the success banner here. And now, just like we did the configured product, we can go into the details. Um and start building out a bill of materials. So, I'm going to start adding products here. Um I'll add the frame frame assembly. Oops. >> And so we'll continue going here. Um, we can add a battery pack. Motor.

17:32Um, we can even go and create sub-assemblies. So, if I wanted this to be a sub-assembly, we'll just name it here. And we can start adding products to it to it here just like we're doing so. Um, we'll just add a Bluetooth speaker. And we could keep going further down the line if we wanted to. Um, yeah. So, as I mentioned, we have the margin calculator here. Uh, we also have it on our products.

18:11So, if you wanted to go into a configured product and manage the margin, uh, you'll see this is our full margin calculator. Um, you can adjust the target margin as well in here. Uh, if you go too low, you'll see it turns red. Uh, in this org, I believe it is 50% to be green. Um, and you could adjust the sales price and enter an additional cost, uh, in here as well. If you wanted to add custom images, you can do that as well in our quote line images here. Uh, we can use a URL or you can select a file and drop them in here.

18:50Um, some other features. So, some other features we have are cloning. So, as I mentioned, we have the enhanced cloning. So, if you wanted to create a similar quote, you could include the lines. If it's been a little while since the uh, quote was created and prices have changed, you can update the pricing. If there is additional charges such as um shipping or you know, any other charge you can include those as well. Um and then we would go over our integration. So, from the iQ quote, there's a couple different ways you can trigger the integration.

19:30Um in this org, we have it set up as a button. So, you would hit the send to NetSuite button uh and it would create the transaction and customers if needed or items as needed. Uh and it would sync back to the iQ quote. So, here's a similar quote that I created. Um you'll see here the NetSuite information is all synced. Um so, if we were to click on this, it would take you into NetSuite to the sales order. And it would create the lines as well as any needed assemblies. And bill of materials.

20:10So, this is that configured golf cart we made. Uh in the bill of materials, in the manufacturing details, uh such as the revisions. So, if you click into these, all of these were created by link. Um yeah. So, that concludes the demonstration portion of the webinar. Uh I'd be happy to dive deeper into the configuration of the NetSuite integration or iQ. Um you know, we're happy to meet with you and go into more detail.

20:50>> Great. Thank you, Hunter. That was great. It's really cool to see all the the neat features that iQ has. All right, I am going to take the screen back here and walk through some pricing. All righty. Well, now that you've seen all the the great features and the ease of use that iQ has, let's talk a little bit about pricing. So, NetSuite iQ subscriptions start at $50 per user and we can get NetSuite users with iQ live in as little as 45 days with Luxent's quick start implementation program. So, if you are interested in iQ and learning more about the product and getting a demo that might be a little more personalized to what your business functions as today, we are happy to schedule a 30-minute discovery.

21:37At the end of this call today, we will have a survey that pops up and you can request to get that scheduled. Okay, I'm going to go into questions and next steps. I did see a question come through here. Um okay, obviously question for Hunter. Is Uh oh. I think you can maybe read between the lines here a little bit, Hunter, but is that creating an entirely new part number as well or how does it decide what the part number nomenclature will be? >> Yes, so it can. Um it really depends on your integration.

22:14Um so, a lot of times clients create items in NetSuite and then will push them over to iQ. Um so, if it's an existing product, they can add that to the quote uh and it won't create a new product in NetSuite. It will only add it to the transaction lines. If you're doing a configured product, so that golf cart that we created and the product code doesn't exist in NetSuite, it will create it there and all of the um related manufacturing details, routing details. Um same for that custom product that I created.

22:53Um that one didn't exist yet, so we would create that as well. >> Great. Thank you, Hunter. Okay, just uh it looks like another question has popped through here. Can you add custom NetSuite fields? >> Yes. Um so we have we support custom fields. Um anything that you can create in NetSuite that you can create in iQuote. >> Okay. And uh it looks like just one last question here. Do our sales reps need access to NetSuite to create a quote? >> No. So with the integration, um if they just wanted to work out of iQuote, uh they can create those quotes, send them to NetSuite, and then if you have a a team there that wants to process those orders, they can do that.

23:40Um and then additionally, if you wanted to set up the integration to pull um orders and shipments um you know, back to iQuote, we have custom objects that we can sync those with. And so that way they can view them in iQuote. >> Great. Thank you, Hunter. All right. With that, I will close this out. So, thank you all for attending our our webinar today. So, the next steps here, you know, congratulations on on completing step one, attend one of Luxent's iQuote CPQ introductory demonstrations. Step two is to schedule a 30-minute discovery to receive budgetary pricing.

24:18So, you will be able to request that in the survey that pops up after after the webinar today. And then step three, buy iQuote CPQ and get started um on your team quoting faster and more efficiently. Well, thank you everyone for joining us today. If you have any questions, please let us know. We will send out a follow-up send out a follow-up recording after this call. So, please be on the lookout for that. Thank you, everyone, and have a great day.