iQ CPQ for NetSuite Manufacturers

00:08Okay, let's get started. We're excited to have you join us for today's session, Controlling the Chaos: Smarter Coding for Custom Products with iQ CPQ. Today, we will do a quick introduction to Luxent and then we'll dive into how manufacturers can streamline their coding process with Luxent's iQ CPQ solution. If you have any questions as we move throughout this webinar, please put your questions in the Q&A panel and we will do our best to get them answered as we move through the webinar. First off, I'd like to introduce you to the team that we have on the call here today.

00:43We have Donna Barnett, Luxent's CTO and developer of iQ CPQ, Hunter Barnett, a Salesforce admin here at Luxent. And finally, myself, Brooke Gyepes, a marketing manager on the Luxent team. All right. So, a little bit about Luxent. We were founded in 2009 and we're located in beautiful Southern California and we are celebrating our 16th year. We are a premier NetSuite solution partner with an average consultant experience of 10 plus years in the ERP or industry experience and we have and we help companies with the selection implementation and support of NetSuite with experience in thirdparty applications and development.

01:28We also have a Salesforce practice with apps on the Salesforce app exchange and we are a certified SuiteCloud development partner. All righty. With that, I will pass it over to Hunter to talk to you more about iQ. Hunter. >> Thank you, Brooke. Yes, let's talk about some of the iQ features you'd be interested in as a manufacturing company. Manufacturing companies have unique quoting requirements which can become very complex, especially when you need to create custom items that might have component lists, revisions, routings, uh working with multiple locations.

02:06All of these complexities can be handled through iQ. iQ is very flexible in how you can quote different product types uh such as existing assemblies, existing inventory items or completely new custom products. You can quote all these different product types together even uh including uh suggesting add-on products for upselling or cross-selling. It's very easy to manage. So this is one of the things we hear the most from our customers is how easy it is to maintain. And you don't have to be a super technical person to you know make changes to the system, update pricing or add new products.

02:40Um but we are here if you ever need us. Uh our clients don't depend on us for maintaining their environments and in many cases an IT resource isn't necessary. Uh sales teams and their sales admins are able to handle a lot of the maintenance of iQ. Uh and we also support global requirements such as uh customer specific pricing, multicurrency, uh multi-country and multi-ubsidiary setups. So it'll be able to scale as your business grows and you expand throughout the world. Uh and with iQ, your team will be able to quote faster with greater accuracy and streamline the overall process.

03:17Uh those are just a few things uh that make iQ a good fit for manufacturing companies. With that, uh, I'll hand it over to Donna to highlight some additional key features and walk us through a product demonstration. >> Yeah, thank you, Hunter. So, today we're going to be focused on um custom products. So, uh, configure to order, engineer to order, and matrix types items. But before we jump into that in the demo, um just want to highlight some of the key features of iQ that um go across kind of uh all all product types.

04:01So from a configure standpoint, you have uh we have a product configurator. So it's a rulesbased configuration that's very easy to administer and userfriendly uh from a setup standpoint. Uh [clears throat] with that you can generate smart product codes based on the options that are selected and manage dependencies so that you're ensuring that your users are only selecting compatible options for uh for your products. We have guided selling features um with our uh full search capability that lets you uh drill down to find the right products uh with attribute filtering.

04:46And then we also have related products that do suggestive selling for >> [clears throat] >> uh upsells, cross sales, identifying alternate products and um and adding uh maintenance uh type products as well such as um product maintenance or product support options. And we also have uh product options that allow you to configure based on attributes.

05:19So this is uh very similar to matrix items in NetSuite but it's uh very userfriendly. Uh we support kits or bundles and you can create custom products and and bundles on the fly without having to create items in your item master. Uh, so it helps keep your item master in NetSuite clean so that you're not you don't have a lot of products in there that you're not that you haven't actually sold or uh need to build yet. We also support engineer to order quoting with support for multi-level bills of material and uh creating routings and labor and other u costs.

06:03So outside costs and then we also have real time validation as well. So if you uh need to specify uh minimum order quantities or incremental order quantities, we have the ability to define those on products and then uh it automatically makes adjustments to the quantities and notifies the user that changes were made to enforce those quantity validations. So for pricing uh we have a pricing rules engine.

06:48So you can define rules uh for so whether it's promotional pricing or uh customer specific pricing. You can define rules to uh set up discounts or even add add-ons uh like shipping and they can be percentage base or fixed price base. But basically any criteria related to a customer, a product, uh information on the quote, those can all be used as criteria for defining uh your pricing rules.

07:26We also have customer and customer group specific pricing, uh tiered and quantity break pricing, recurring uh or subscriptionbased pricing. So if you are selling um like annual maintenance contracts, things like that along with your products, uh those can be configured and added on in iQ. And then uh we have different ways to define your pricing. So you know it can be a defined list price.

08:02Um you can do cost markup uh target margin or multiplier pricing. We also have uh margin health indicators um and a cost margin calculator to make help you define the right price. This is especially helpful with custom products or engineer to order products to make sure that you are pricing it accordingly to make sure that you're making the appropriate profit margin. We can also quote in units of measure. So you can set up uh multiple units of measure.

08:38So for example um eaches cases um pallets can all be set up on a single product and uh quoted at those different [snorts] units. Uh we have multicurrency support and um sales tax integration as well. So you can um we have out of the box integrations with Avalara and Tax Jar but it we can also integrate to other um sales tax solutions as well. Okay.

09:21So for quoting um just some features that we have here uh we have an option to import quote lines. So if you have a spreadsheet or a CSV file, you can import those in so you don't have to manually input those. Uh we have an enhanced cloning feature that will uh cover in more detail that gives you some different options for cloning quotes to make it easier uh if you are quoting if you've quoted something similar in the past. Uh we have quote groups uh to allow you to organize products on a quote and group them and and subtotal them.

10:00Uh we have optional products. So you can mark a line as optional uh to help with upselling. So that can be included on the quote as like a recommended product and it's not included in the in the total amount of the quote. Um we have a document template builder and um in our document templates you can output multiple images for a product. So this is very helpful for um things like furniture where you have different fabrics and finishes that you can select and then you can um include the swatches on the document output and um then we have uh e signature integration and uh not only are we integrated with NetSuite but we can integrate with other systems as Okay.

11:09So, jump into the product demonstration here. Okay. So, what we're going to be doing here is starting um in NetSuite in a NetSuite opportunity. We're going to create an iQ quote from here. And so this um creates a new quote for us. And what I'm going to do here is use our full search.

11:47And I'm just going to initially add just a standard product and and show you some some of the features that we talked about. And then we're going to jump into um adding an option set or matrix product. Uh then go into a configured product and then lastly um an engineer to order or custom on the-fly product. [snorts] So to to add products to the quote, you can use our full search or you can simply uh type in an item number or u name or description of a product and uh select it.

12:28Um we're going to go into our full search here. And then you can if um if you're not quite sure what you're looking for, you can go in here and then you can filter. Um, so I'm going to look for I want kind of a hybrid bike that works on both uh street and trail terrain. Uh, I would like a blue. And then uh I can I can filter down to the size. And then um add this to my quote. And so I've added this to the quote.

13:06And you can see here that um it's automatically added an annual service plan as uh and it's checked as optional. So so this is you know we want to try to upsell a service plan um for each quote. So that is included on here. And then if we look at uh our bike, we can look at related products for other recommended products to to add on to our quote. And you can select those to to add on as well. >> [snorts] >> Um, and here we have our quote groups that you can uh define to uh if you want to group your quotes and subtotal them on on your output.

14:01So, uh that's an option. We have our margin health indicator here. So, if we want to discount and make sure that we're not uh going too far outside of bounds, um you can we have a green and yellow and red indicator. So, uh and then you can define what your margin thresholds are for each of those. I'm going to now add a uh a matrix type product here.

14:39So, uh this is just a a city go bike and we have different size and color options for this bike. So it we have our so it's easy to uh know when you need to make a selection and then it's very easy to uh view your options and make those selections. So I'm going to um go ahead and um make some uh different selections here.

15:18And I'm going to go ahead and save that. And so as I made the selections, it updates the product code and then it also updates the uh the description for the product as well. So this is another way that so you can set up a single product and then without having to create separate SKUs for um for all of the different combinations and then once an order is placed for that combination then at that time when the order gets created in NetSuite is typically when we would create that item or um and or assembly in NetSuite so that the order can be placed and then it's you're not adding items to your item master until needed.

16:24Okay. So now I'm going to jump in and add a configured um product. So, I'm going to configure a custom bike and I'm going to go in and I can choose the model and based on the model I choose, I have different color options. So, the city go is only available in blue and white. The cross go have some different options.

16:59I could also choose a custom color and then just input that color. I'm just going to stick with a standard here. And then you can see our our item number or our uh item code is getting generated as we're making our our selections. And again I can um have different options to choose the the size of the bike. I can just choose it by frame size. I can choose by rider height. Uh so we have different fields that are displayed.

17:36I could choose a custom size where I can enter the uh frame height and length. And then we have incremental validation. So if it can only be uh in one quarter increments uh you can define uh define those increments. I'm going to just uh go with the simple uh selection by size. And um as we're making our selections here, we're also we have actions defined that create the bill of material for the bicycle based on the options that that we are selecting.

18:23Um I can choose a a different battery from the from the standard. choose grip and choose the the seat. Um, and then we also have uh variables that we can create to um defi update what we want to put in for the product name and the product description. And then the next step here, once I've got um my bike configured, I can then go in and choose some accessories that will get added to the quote as separate line items.

19:06So, I can choose um helmet and then if I wanted to ch add on a bike rack um and I'm going to pass on the the smart trainer. But, uh we can see with our custom actions here that these will get added um to to the quote as a line versus um adding as part of the the bill of material. And so I've have all of my selections made and I'm going to uh return to to my quote.

19:50And so I have my custom bicycle here. I have the helmet and the the rack that was added. If I wanted to go in and look at the bill of material, I can do that in here. I [snorts] can also add um additional cost. So, if I wanted to add some outside processing uh cost to the order and um uh we could also go in and add operations. And all of these can be added by rules within the configurator as well.

20:32Um, and I'll show a little bit more on um the bill of material in just a second. So, at this point, I'm going to go ahead and um add a custom product. So, I'm going to uh build a bike from scratch. So, uh I'm going to use our custom product feature.

21:06So, here I can choose um a product group and you can also do custom kits as well. We're going to just do a a custom assembly basically. And I'm not going to put anything else uh in here. I'll put a just a long description in here. [snorts] Going to add that.

21:48And now I can go in uh to the line and go to manufacturing details. And then I can start uh creating my build material. So I can add existing products. So I can choose a frame, can add some some wheels. I can also add uh multilevel bill of material.

22:22So I can add a uh I can add a custom sub assembly and choose my quantity and then add components to my sub assembly. So I can again add um existing components or I can expand that and I can you can go even deeper. Um I'm going to go ahead and add a uh a custom uh say a custom guard rail.

23:01Uh put in the quantity and the cost. And then I can go in and if I wanted to again add some uh an outside processing charge, I can these charges can be either a percentage or um or a flat amount. So, if I just want to make that $50, I can do that.

23:38Uh, again, I can add um I can add labor operations here. Um, and then once I've got, you know, everything defined, I've got all of my costs built out, I can go here to uh our uh cost margin calculator and I can we have a default target margin set of 50%. I can uh change that. So, if I wanted to see, well, if um if we were willing to go down to 45%, what should the target price be?

24:17[snorts] I could also say, okay, well, if I if I just make it an even,000, uh where does that put us for our profit margin? And then I can uh update the price and uh then we're all all set. I can also add um a um an image. So, if the customer sends you an image or you have a drawing um or something like that that you want to uh define on there, you can um go in and um add an image here.

25:03So, um, if I were to I'm just going to I have a URL here, uh, for an image. So, you can either upload an image if you have it on your hard drive or if if it's a a URL. Um, I can add it on here. I can make this the default and thumbnail so it can be displayed on the on the PDF document. Okay.

25:42So, so now we've got um we've gone through the different types of uh products that we can add on here that um are more manufacturing focused. So, I can now uh generate my PDF template. So, you can have um multiple different types of templates that um I'm going to just preview a one that is grouped and has images. So you can see here we have all of our bicycles grouped together and um accessories and then our recommended option for our annual service plan.

26:41Um and then that can be then um attached to the quote and emailed uh to your customer or prospect. Okay, a few other things here. Um, so I mentioned before uh our enhanced cloning. So if you know that you quoted something similar, so if it's uh this is especially helpful if for custom products um so a certain configuration or uh engineer to type order.

27:22So you can clone it and then you have different options to whether or not you want to update the price or include u additional charges. So if you um let's say you quoted this um months and months ago and your pricing has updated since then, you can choose update price so that it includes the most current uh pricing for that. Or if you want to leave it the same, you can just leave uh that unchecked and then you it creates an exact copy of the quote with all of the lines and all of the detail including the the bill of materials and operations and then you can go in and make modifications to it as needed.

28:10You can also change the the customer that is assigned to the quote. So if you quoted it for customer A and then customer B wants something similar, you can take the quote from customer A and clone it and change it to customer B. And then once you've got everything finalized um and you are ready to have this created in NetSuite then um we have this set up so that it generates a sales order.

28:50You could have it generate um you could have it go directly or to a quote or just to the opportunity. So that's something that's worked out um and set up based on based on your requirements. So all we have to do is click send in NetSuite here and then it will go through and if you have So let's say we've never made this combination of bike before with these options. It will determine that and then create a new assembly item, a new bill of material and a new bill of material revision.

29:30It will look at the components as well and if there are any component items that need to be created, those will get created as well. Um, and I'm I'm just going to go to a uh quote that I created earlier that uh we already synced to NetSuite uh because it takes a few minutes for that to process through when it needs to create all of the associated items. But so you can uh go into the order in NetSuite and then you can see um like we can go in here and look at the assembly item that was created and uh look at the manufacturing details.

30:17We have our bill of material here that was created and then uh with a revision and all of the components. So that concludes uh the demonstration portion and so um if you would like to see more in terms of the how configurations are built and um other setup features and dive more into the uh order and item conversion process.

31:01uh we'd be happy to spend some time to to go into more detail with that. >> Great. Thank you, Donna. All right. Well, as we kind of close out our our webinar here, I wanted to walk a little bit through pricing and implementation costs and then answer any questions that we might have. So for pricing here on uh our iQ solution, our NetSuite iQ subscriptions start at $50 per user and we do have a 90-day quick start implementation program.

31:37So if you are interested in learning more about what this might look like for your business or how you know iQ would work for you, please schedule a 30 minute discovery session. Um, we will be reaching out to to everyone after the webinar to to book uh your follow-up 30 minute session. So, we look forward to working with you. All right, let's see if we have any questions here. Okay, we have a couple that just came through. When um these are obviously all for you, Donna.

32:16[laughter] So, let's see. When do new items get created in NetSuite? >> So, typically that happens when the order when it's converted to an order, but it it really depends and it can be configured differently based on your specific requirements. But typically most people don't want them in NetSuite until an actual order has been placed and it needs to be produced. >> Great.

32:52Thank you. And then a couple more here. Does iQ only create service orders or can it do cash sales, invoice or other transaction types? >> Yes. So um as I mentioned earlier when you're syncing the quote back to NetSuite it can be done at any um sales transaction level. So whether that's the opportunity the quote sales order invoice or cash sale. >> Great. Thank you. And one last question here.

33:24Do you support multi-level bombs? >> Yes. Yes. And uh it can go I believe we support up to seven levels uh of um of subasssemblies. >> Great. Thank you. All right. Well, if anybody has any other questions, please feel to put them feel free to put them in the chat or follow up afterwards with any questions that you might have. Okay. So, for our next steps here, you've already taken step one. Congratulations on attending one of Luxent's iQ CPQ introductory demonstrations.

34:01Your next step is to schedule a 30inut discovery to receive budgetary pricing. Um, we'd love to talk to anybody about how iQ can fit into your business process and simplify your quoting. And then step three, buy iQ CPQ and get started. Get your team started on faster and more efficient quoting. Thank you everyone for joining us today and we hope to be working with you soon.