iQ CPQ for Software and SaaS Quoting

00:07All right. Well, thank you everyone for joining our our demo today. My name is Brooke Gyepes and I'm part of the Luxent team. Today we'll be walking you through how IQ CPQ helps Salesforce users simplify and streamline the quoting process. So, if you're dealing with complex configurations or just trying to speed up day-to-day quoting, this is the place for you. First, we're going to start with some introdu introductions to the Luxent team and a little bit about Luxent in iQ CPQ and then we'll get into what everyone's excited about a demo of IQ followed by some questions and answers.

00:41If you have any questions, please put them in the Q&A panel at the top of your screen. Um, and we will do our best to get to them all at the end of the demo. All right, let's meet the team. So, first up, we have Donna Barnett, who is a seasoned IT executive and the CTO here at Luxent. She has deep experience in ERP, CRM, and cloud solutions, and she specializes in driving digital transformation across diverse industries. Um, next we have Katrina Sangren who is our director of sales here at Luxent.

01:16And she is experienced an ERP and BIS and is an experienced ERP and business systems leader known for working with companies to optimize operations and scale processes for high growth companies. And finally, myself, Rick Gibbus, who I sit on the marketing team here at Luxent, and I have five plus years of experience in ERP and CRM. So, let's get started. Just a little bit about Luxent here. Luxent was founded in 2009 and we are located in beautiful Southern California. We are a Salesforce ISV and consulting partner with a focus on startup to mid-market companies in industries like software service manufacturing and distribution.

01:56We are also a Salesforce developer and consulting partner with two uh applications on the Salesforce app exchange iQ CPQ and our LiNK integration between NetSuite and Salesforce. We also have a sales are a NetSuite practice and are a NetSuite premier solution partner um with a deep bench of consulting experience and a full service partner helping companies with with everything from selection, implementation, development, integration and ongoing support. And we're also part of the uh NetSuite certified Suite Cloud development partner um so that we can build apps on the NetSuite app exchange as well.

02:39All right, I'm going to pass it over to you Katrina. Thank you Brooke. Yes, let's talk about some of the features you would be interested in IQ as a software company. Software companies have unique quoting requirements which can become complex in nature. Specifically, when you need to co-term and add-on sale to an existing contract, provide monthly or annual pricing, offer tier discounts based on your user quantities, and also handling renewals. All of these different types of scenarios related to revenue recognition um and recurring revenue um can be handled through IQ.

03:22IQ is very flexible in how you can quote different product types like licensing services or uh maintenance agreements. You can also bundle these different product types together and include suggested add-on products for upselling. Excuse me. IQ is very easy to manage. Uh this is one of the things that we hear most frequently from our customers is how easy it is to maintain and how you don't have to be a technical programmer to make changes or add products. Uh Luxent is here if you ever need us, but clients aren't always dependent on us for maintaining their environment.

04:00And in many cases, an IT resource isn't even necessary. The sales team or a sales admin might be able to handle a lot of the uh maintenance of IQ. Um, IQ supports any global requirements with multicurrency and multi-country. So, it will be able to scale with you as your business grows and expands um throughout the world. And um with IQ, your team will be able to quote faster with greater uh accuracy and streamline the overall process uh that's associated with quoting.

04:35So, those are just a few of the things that again make IQ a good fit for software companies. And with that, we'll go ahead and turn it over to Donna to focus on some additional features. >> Great. Thanks so much, Katrina. As Katrina mentioned, IQ is a 100% native uh Salesforce application uh that is certified on the App Exchange. Uh we've been on the App Exchange since 2013. And so with it being 100% native, that means that you can take advantage of all of the platform tools uh within Salesforce to uh add additional automation, do approvals, do um workflows and uh and reporting.

05:33So key features for IQ. Um we'll just go through some slides here because for the demo we won't be able to touch on on everything. Um, so from a configuration standpoint, we do have a very robust product configurator that is rules-based, allows you to define dependency rules, um, create smart product codes, define rules for pricing based on different inputs. Uh you can also do additional actions such as adding quote lines, creating multi-level bills of material, defining labor operations.

06:17So it's very robust uh product configurator. We also support all different types of products. Today we're focused mostly on subscription or recurring uh types of products, but um IQ handles physical goods, services um and subscription products as well. We have guided selling functionality. We have a robust full search feature. Uh attribute filtering.

06:52Uh related products for upsells, cross sales, um alternate products, uh maintenance. You can define products to be automatically added to uh to your quotes. And um so all of this to help your users find the right products for your your customers or your prospects um quickly. We also have uh product options. So for products that have different um con configuration attributes such as color, size or material um we have kits or bundles and we also support custom products in bundles so you can build products um on the fly bundles on the fly and as well as engineer to order products.

07:51So you can build out your bill of material uh and labor and outside costs to um be able to price your product accordingly to make sure you're getting the the right margin on that. We also have real time validation with features such as minimum quantity validations, incremental qual quantity validations. Um from a pricing standpoint, we um have very flexible pricing options in addition to a pricing rules engine that so you can define rules based on any criteria from uh based on the account the product product groups.

08:39Um there's numerous options to define the criteria and then what type of rule to apply uh to the pricing. Um you can set up promotions as well that are that are timebased. You can set up customer or customer group specific pricing. So you can associate price books to different uh different customers and different uh or at a customer group level. We have tiered our quantity break pricing, uh, recurring and subscription pricing, which we're going to be diving into more during the demonstration.

09:20And then you can also, um, do pricing by cost, markup, target margin, uh, multiplier. In addition to just you know standard list pricing, we also have our margin health uh functionality. So you can view that margin health at the overall quote level as well as at the line level. Um, with our green, yellow, red indicators, you can we have a cost margin calculator that allows you to review costs and um do some whatif analysis with uh with margins.

10:07And we have multicurrency support as well as the ability to quote in different units of measure. And uh we support sales tax. uh the application of sales tax and we also have integrations to Avalara and Tax Jar. And uh lastly, we have the ability to import quote lines. Um so you can take a a CSV or Excel spreadsheet and import that into the quote. Um, we have enhanced cloning functionality so that you can take a quote that was previously done and clone that.

10:46And then you have options for making adjustments uh to the quote. So whether you want to keep the pricing or repric to current pricing. Uh you have the ability to group quote lines to present that um to to your customers. um optional products so you can present recommended products on a quote without increasing the total of a quote and um we have our document template builder and with the ability to output multiple product images on a quote uh we support e signature integration with DocuSign sign now adobe sign um really just about any e signature application that Salesforce integrates with.

11:42Um and then we also integrate to third-party document generation um tools as well like conga and uh draw loop. Um and then we also have an out ofthebox NetSuite ERP integration and then we also support other ERP integrations as well. Okay. So, let's get into the product demonstration. So, the scenario that we're going to go through today is for uh an enterprise software company who who has uh subscription applications that they sell.

12:29We're going to go through the process of creating a new quote uh for a prospect, converting that quote to a contract, then uh creating an add-on quote to add additional users and additional modules um for that that will be co-termed uh to that existing contract. And then lastly, we'll go through the process of creating a renewal quote from that contract when it's uh up for renewal.

13:07So, I'm going to start with uh an opportunity. So, this is a opportunity for a new ERP platform. And I'm going to create a new quote. We'll select our uh contact here. Um, we can set our uh contract length. Our default contract length is 36 months uh in our scenario here. And then I'm going to set a proposed contract start date. So that will be September 1st. And then I'm going to go to the quote that I just created.

13:43Now we have uh several ways to add products to the quote. You can simply uh type in u a partial uh description or product code to into the search bar and select a product. Here we also have our um full search option where you can filter products by groups and you can define different attributes to uh to filter your products.

14:18So if we want to um add our ERP platform, so we're going to uh right now just add our ERP platform, but at this point we could also select other products as well. And so when we do that, we it also automatically added the user. So in our scenario, we sell a a platform license which is a fixed uh monthly uh fee and then you have to buy additional user licenses for that as well.

14:57Now quickly one other option that we have to add products to a quote or select products is using our product configurator. So you can configure this to where you can guide your users through selecting the different platform cores and then that then uh prompts you to enter your number of users and then gives you uh the different options that that are available based on the cores that you select. And so if you the more the more cores you select the more add-on modules you have as options.

15:37And then you can see over here how this is set up to um add products um to your quote. So that's just that's an option as as well if um to make it easier for your users. You'll see here that um we have our product set up to be priced um monthly. So by by instance or user. You can also change this if you wanted to quote um on a yearly basis.

16:11We can also get as granular as um quarterly and weekly as as well. We have um tiered pricing defined for our users. Uh so based on the number of quantity they can you can uh have price breaks on there. We also have related products set up. So as as you saw the cloud users were added automatically and that's set up in our related products to auto add.

16:45And then you can also use uh this related products feature to see what other products that that are recommended. And then you can use that to add those. uh add additional products to your quote. We also have um quantity validation set up on our users.

17:21So um so we have a rule set up that we have to um sell users in five uh user increments. So if I entered 16, that told me that um it needed to be quoted in increments and updated it to the next highest increment. We also have a minimum of 10 required. So if I try to enter a lower amount, it it updates that.

17:55And then so if I uh go with a higher quantity, you can see the price adjustment there. And then we also have a a rule set up um that if it's a three-year contract discount, then it automatically adds an additional 10% discount to the line. And then you can see our margin indicators on the right. So if we if we change a discount, let's say uh we make this 50%.

18:40You'll see the update uh to to the margin as we're as we're going along here. Just set that back to 10. We can also um add services that are um a onetime fee. So this is um in hourly units. We can add let's say 80 hours um of implementation services. If we wanted to go back to our full search and let's see, let's add on some additional tools and can add these on here.

19:36And let's say we want to also go back uh to our related products here and add uh the fix fixed asset module as a recommendation. So we have it marked as option there. So that is added as an option and can be presented uh separately on on the quote. So now if we go to generate um a quote document, we have a grouped quote here. And we can preview this.

20:26And then you'll see uh we have our products grouped and then we have recommended options at the bottom here that include the fixed asset module. Um you can add terms and conditions to your quote template. So all of this is is customizable uh so that you can um you can add additional sections, change the fonts and colors and graphics. You can also uh sync this quote to to your opportunity so that it updates the the value of the opportunity.

21:09Um, if you decide that you want to do a mass update for the discount, uh, you can, um, change the discount, uh, percentage here, have it update. You can also, um, change your price list and have it recalculate the price. And then um you can clone quotes as well. So this gives you the option to include lines whether or not you want to update the pricing.

21:45So if it's an older quote and your your prices have updated, then you and you want it to to use the current pricing, then you can you can choose to um update update the price. So, once I've uh have everything ready and let's say that I've sent this quote to the prospect and they just signed off on it. All the contracts are signed and we're going to then convert this into a Salesforce contract with associated assets for each of these.

22:26So, I'm going to uh create the quote. You can choose to to change the start date. So, let's say this was either moved faster or slower than expected. And um you can make that change before you create the contract. So, uh we now have our contract that's uh created here. So, we'll go here and you can see um the assets that were created for all of the um the products that are subscriptionbased and were not marked as optional or are added as assets on this contract.

23:08And now let's say uh it's a month later and Precision Products contacts us and says, "Okay, I need to add some more ERP users and now I also want to um add CRM." So I'm going to put this start date out a little bit to October 1st. And uh it's going to be the same end date as our existing contract because we're just going to be adding products to to this contract.

23:44And so I'm going to go to full search, add my ERP users, and I'm going to go to um add CRM. and and we can let's say we want to go with 25 CRM users and we need an additional uh 20 ERP users.

24:37Okay. So now uh we get the signed contract again for this this quote and now we want to add these to our existing contract. So, we're going to add to contract. Then again, um go to our existing contract. And then we'll see that we now have uh our CRM added uh with the purchase date of 101. We have our cloud users and then we also have our additional ERP cloud users.

25:24Okay. So now let's go to a uh a contract that is about to expire. So normally this would be set up as an automated process. So this would be happening in the background, but that doesn't demo as well. So we're going to we're going to do this manually here. So we have a contract that's expiring at the end of September. We want to create a new quote and get that out to to the customer for them to renew. So, we see here that they've they've had some add-ons along the way as well.

26:02And um so we have um two different ERP cloud users. So, a total of 35. So, we want to make sure on our new quote that we have that consolidated. So, we're going to go back and then do create renewal quote. And um we want to generate the new renewal for another 36 months uh starting on October 1st.

26:50And so it's adding the products. It It takes just a second. It's going through again consolidating the um any duplicate products to total those up and um and adding them on the quote. So again you can then uh generate your PDF, send it to send it to your customer and then uh go through the process again of uh creating a new contract uh when when they sign it off and then um and then the cycle can just repeat.

27:30So that's that's the the the walkth through of you know how to streamline uh your your software quoting. >> Great. Thanks Donna. Okay. So we are going to kind of head into our next steps and answer any questions that we had from the crowd. I did see a couple come through here. So let's start with those questions. Uh let's see. The first question is, how easy is it to mass update or import pricing and product catalog data? Um, especially when frequent changes are needed. >> Yeah, that's a great question.

28:06Um so with IQ being on native to the Salesforce platform, you have you can use any um of the the data import tools that are supported by Salesforce to do mass updates of data. We um we also um can integrate to uh ERP system. So if if that data is maintained in your ERP system and you need that to flow into IQ to update your pricing um that's an option as well.

28:45We also have uh let me share my screen again here. Uh we do have um so if you just need to do say like a um percentage update to um to some products. Uh we also do we have an uh a mass price update tool. So you could you can do this by product group.

29:18Um, so you can select a product group to to filter on and then select um how you how you want to to update it and if you want to um update by the price um or the cost or both and then you can input a percentage amount to uh to do that increase. Uh so that that's another option. So, so yeah, there's there's a lot of flexibility um and options to make it easy to do those updates.

29:58>> Awesome. Thank you. Uh okay, we have one other question here, so maybe you'll keep sharing just in case. Um is IQ easy to customize? >> Oh, yes, absolutely. So um again with it being 100% native we are using standard um Salesforce uh record pages. We have custom objects but they're they're Salesforce custom objects. So you can easily add fields, easily add flows to add in custom automations, do email alerts, approval processes and then um with the the user interface you can easily tailor as well by uh customizing the record pages.

30:48And then we have uh we have a number of built-in lightning components that are included in our package that um that are just kind of enhanced user experience components. And then you can see that these are flexible as well as as they have field set associations that allow you to customize the the fields or columns that are displayed. You can adjust the the table height um and have some other control on the on the user experience there.

31:29And then you can also move anything around um and change the layout to to fit your uh what what is the best experience for your users. >> Awesome. Thanks, Donna. Okay, so that's kind of all the questions we have from the crowd at this point in time. All right, so next steps for everyone. So, you've already completed the first step, which is great, which is attending one of our iQ CPQ introductory demos. Um, I'm I'm hopeful that you received a lot of really great information and and Donna was able to answer a lot of questions that you might have about our product.

32:08Your next step is to schedule a 30 minute discovery. Um, and you can receive some budgetary pricing there just um as a starting point. Our pricing starts at about $35 per user, but please contact us and schedule that 30 minute demo for a formal proposal. And then finally, step three is to buy IQ CPQ and get your sales team started um quoting faster and more efficiently in Salesforce. Thank you everyone for joining today. We hope that you learned a lot and we hope to be talking with you soon. Have a great day.