Extending NetSuite with Seamless Apps

00:02hi everyone and Welcome to our webinar extending netsuite functionality with IQ configure price quote and avatax my name is Laura Ginsburg I'm the senior director of marketing here at luxent and I'll be moderating today's webinar which is being presented in partnership with avalara a Tax Solution leader and fellow netsuite app provider before we begin I wanted to let you know we are recording today's webinar which we will provide to you as well as taking your questions so go ahead and please enter questions anytime in the go to webinar panel and we'll answer as many as we can in our time together our agenda today this is a quick 30 minute webinar so we'll be breezing through the rest of our introductions and then we'll get into the meat of today's presentation talking a little more about why you should consider adding applications to your netsuite platform

00:53and then diving into two built for netsuite applications IQ uh configure price qu quote for advanced quoting and avatax for automating sales tax finally we will wrap up with questions and a couple of next steps so I want to introduce you first to luxent if you are not familiar with us uh we're a private company based in Southern California with offices and team members throughout North America um yours truly is holding down the fort in Minneapolis Minnesota and we have Consultants all over the country um as you can tell from the formatting of our logo user experience or ux is incredibly important to us um and that goes well beyond just the technology platforms and the users experience with them so we work hard to be partners to our customers and

01:43we're very proud of the high marks that they give us in return we are a netsuite SN and application partner and you'll be hearing more about one of our Solutions today IQ configure price quote in addition we have a data integration solution that brings together business critical applications such as Erp and Salesforce so you'll be hearing from three of us over the next uh 28 minutes or so and I'm joined today by my colleague at luxon Peter Uritis who is part of our sales team and Tara McLoud a regional manager for avalara who is here to talk about avatax so let's uh let's get into the to our topic for today um and start by answering that question you may be asking yourself why do I need an application for my netsuite platform so um our our participants today are netsuite users um and as you know

02:43it's the leading Cloud Erp platform but even a leader um any solution can't do absolutely everything for everyone all the time so specialized businesses like those that we work with um in the manufacturing and distribution service and Retail Industries in particular are going to need more functionality than an out-of-the-box solution can provide so um you chose the cloud because you were looking for a fast and accessible and secure platform that gave you uh the agility to run your business easily in the cloud and adding functionality through apps um helps you complete that vision of a seamless easy intuitive system and that's important because as we all know um customers are acting more like consumers and that means that they want information and responses and quotes and products and tax calculations right now they not only expect them

03:40now but they expect them to be 100% accurate so uh a cloud application is a is a great way to ensure that your business processes are running fast and smooth and accurately and on top of those customer expectations your teams are also expecting that they have the technology at their fingertips that's easy to use and helps them do their jobs um as fast as they need to so adding an a cloud application to your core netsuite platform goes a long way in in making your users feel empowered and making sure that they can deliver on those promises to your customers so if apps are new to you or you haven't um yet really dug into them I would recommend that you head over to suiteapp.com which is netsuite application Warehouse online um all the apps that are listed here are built for netsuite certified

04:41which means that they've gone through all the certifications that netsuite requires of its providers um to ensure that they work seamlessly on the platform so that means you can have the peace of mind that um everything you find there has been tested and certified and recertified in fact um we just went through one of our regularly scheduled recertification processes that just makes sure that you know as netsuite is constantly updating uh its platform to be robust and secure and the best of the cloud um that all the applications are keeping up with it so you can search um by vertical by a business need by the providers themselves by a solution type um and you can connect with solution providers directly through this it so um that's just a very quick look at why apps might be right for you um with that I would like to invite on to the call Peter Uritis my colleague here at luxent and he is going to tell you a little bit more about IQ configure price quote for netsuite thanks a lot Laura good morning everyone uh my name is Peter Uritis and

05:56I'm a county executive here at luxent and what I wanted to start out is by talking to you a little bit about why you might need Advanced quoting solution um the first reason you might need it is because you're doing custom products and adding a whole lot quing a whole lot of products that um you don't have an item for currently in that Suite you might be doing same ascept quote so you're doing a lot of quotes that are very similar and you only need to make little tweets so you'd much rather copy and paste in entire quote and then make some alterations to that quote maybe you have rules based products and services that you need to be able to configure those products or you're doing placeholder setup in netsuite and quoting in some other solution maybe have work order components that change on the Fly and you need to be able to alter those and capture those uh cost and price

06:53and then uh lastly you might be working in Excel and spend way too much time searching through old folders or or searching for another person's quote and uh spend all your time doing that rather than actually selling or or quoting new business so some some topics that we wanted I wanted to discuss with you at a high level and some things that we'll touch on a little bit more throughout my presentation uh but these are just some things that net or that IQ has to offer uh one guided which we'll talk much more about um Advanced configurators with u Advanced logic and rules based dependencies um the ability to Do complete proposals we have an integration to a uh a product called Draw Loop that does Advanced proposal generation so if you're looking for something that's much more professional has a little bit more flexibility in uh in being able to alter proposals for certain customers um we have a really great solution for you

08:00and then uh one thing that we we have prided ourselves on is um using a lot of our industry experience to uh to build out our IQ product so we have years and years of uh experience in manufacturing distribution software and service and you'll see all those things built into our product and then lastly it is built for netsuite um we are an SDM partner and uh it is um list on the app exchange as Laura already mentioned uh so the first thing I want to touch on was guided selling and this is the ability to uh create questions for your salespeople that might not have all the industry experience or know all your products so going through a series of questions these the system will uh will choose the products for them and give them the ability to have a little bit more knowledge than they might might have if they are a new employee or or if you just have a lot of products that you offer we also have the ability to do um custom configured guided selling so you if

09:17you're have more advanced quoting and configuration um we have the ability to do guided selling for that as well um another thing that we do uh is crop cell upsell and alternate product so we are um if you are selecting a product for a customer and you want to be able to upsell them say Hey listen we have another great product that I think you should take a look at or if there's other components to it that you might be able to sell on top of the product that they've selected you have very quick and easy access um for visibility to that um maybe you're doing Advanced estimating or or Advanced products where you need to define a multi-level bill of materials and routing you want to see all the parts into an assembly or a custom product maybe it's raw material that you have rolling up into into the top level assembly and you want to be able to associate labor and different operations for that um you have the ability to build all that out um also you have the ability to build uh Parts on the Fly which are or a custom part so if

10:31you're not wanting to enter in a an item into the item Master at netsuite which they required to do quoting out of their their uh uh Native quoting application and maybe you're quoting thousands of parts and you're only winning a handful of them our product give you gives you the ability to quote those custom products and then configurable products um basically you can sell up uh set up Advanced Logic for each one of these products and this will give you um the ability to say let's say we're going to select the processor well that will Define the certain types of memory chips or the monitors that go along with that processor um this will eliminate any sort of um mistakes that are happening based on the fact that you've selected two products that don't go together and then you're not figuring that out until

11:25it's way Downstream and maybe they already purchased it and you have to go back to the customer and that goes back to what Laura was saying people want their quotes accurate and they want them very quickly and this will help you eliminate those mistakes IQ is great at being able to once you've added in the cost and price of everything it very quickly defines the margin and the percentage associated with that um this is great if you are quoting a lot of different parts and giving out discounts and and being able wanting to see where the health of those products are from a margin standpoint and also we have the ability to set up uh alerts if someone's quoting below a certain percentage and you want to get managerial sign off on those parts

12:12well then we have the ability to set up those triggers and those defaults to set up those um those product sign offs or those quote sign offs for you we also have uh some other great discount um functionality in there you can see the quantity price breaks shown in this slide um you have the ability to um give discounts at the line level or at the header level if you want to quote or discount the entire quote so we have a lot of functionally built into there that would be great for manufacturers or distribution companies and then lastly uh one of the things we're uh finding more and more is people wanting the ability to uh quote support maintenance or subscription agreements that go along with their products maybe

13:08they're selling product and they want to upsell a maintenance contract for it or a warranty um and maybe they would just want to show the option to their customer we have the ability to not only um manage be able to quote those but also manage the recurring um contracts of those so you'll see that on the quote when you quote a product you'll have a be able to flag a product that's optional and it will show up the warranty there and it won't reflect in the price but they'll have visibility to see those products um that's all I had to uh discuss today about IQ we'd be happy to um talk to anyone more about their requirements and put together a custom Dem demonstration uh please after the webinar reach out to myself for Laura thank you so much all right thank you so much Peter and uh as Peter mentioned we um did not have time to dig into a full demo because of the length of this presentation today

14:16so we would certainly be happy to show anybody a a much more in-depth um and custom demonstration if you'd like to see more of exactly how you can work through the uh IQ for netsuite platform so with that I would love to welcome Tara onto the line to talk to us about avatax thank you Laura thank you Peter hello everybody my name is Tara McLoud I'm the regional account manager here with avalara and just to give you a bit of background avalara has been around the industry since 2004 and we're the leading provider of sales tax Automation in the cloud so avalara we integrate into over 500 different Erp e-commerce as well as point of sale platforms where we streamline the process of sales tax via the cloud and our motto here at avalara is we like to make sales tax more um more relaxing less taxing for our customers so the number you see here

15:20it's a big number to swallow and the national retail federation did a study and what this number represents is the uncollected sales tax from e-commerce sales and Most states are in D budget deficits and the first place they're going to collect These funds is for sales tax so Parton Parcel of collecting tax is you need to know if you've created Nexus um in a specific state so states are constantly expanding the definition of nexus which could determine if you need not to only collect sales tax but also remit it as well and just to give you a visual uh this map looks more like a jigsaw puzzle with all these different colors but it actually represents the 12,000 Plus jurisdictions in the United States Alone um so not only do you have to keep up with the tax rates you also have to keep up with the tax abilities um and states are coming up with their own rules as

16:19well as changes to tax abilities and just to give you an example of a couple of those um scenarios uh we always like to use a Milky chocolate bar is taxable but a Milky Way dark chocolate bar um is not taxable because it contains flour another example would be a bucket of red paint uh taxable but depending on the usage of the bucket of red paint if you're painting a Bor or a c curb could determine that it's not taxable um and then the last example would be say a flag um sold in a specific State it's not taxable but if you're selling it with the flag poll then it is determined taxable so it's very error prone to stay on top of these constant changes to rates rules as well as boundaries so if that's not all you're having to worry about uh the another big issue for businesses like yourself is the changes to Nexus Now states are constantly broadening this definition um and

17:24it's not just a physical presence in a location a few uh examp of Nexus triggers could be Affiliates if you have hosted data centers if you maintain inventory in a specific state if you do trade shows and give giveaways away um drop shipments uh contract employees and the list goes on with these Nexus triggers so where I'm going here is that with these constant changes I highly recommend to reviewing your Nexus um annually or either by a professional um either by our professional service departments here or by your CPA or accountants so just to show you avalara technology we're not based on zip code to find a sales tax um rat zip codes mean ZIP when it comes to sales tax rates they have no correspondence in one another so what avalara does we're technology company where we drill down to the rooftop location location using latitude longitude um when a sales tax calculation is made in netsuite netsuite

18:34now is going to call out to the cloud and basically walk a decision tree to pull that information back the information that it's asking the cloud is uh the ship to is a product taxable is it being taxed on a Goods or service what are the sourcing rules a tax code all that information roundtrip calculation is about 4/10 of the second any changes to rates rules boundaries avalara m is maintaining that so you're getting that real time which makes sure that you're not undercharging your customer overcharging your customer as well as building a high enough wall if you were ever involved into an audit and just like Outsourcing your payroll companies have the same benefit with Outsourcing your sales tax So currently we have over 24,000 different customers um out there with a 90 8% 98% renewal rate um the reason why companies like rupon Nordstroms as

19:33well as netsuite themselves that use us is because they know that tax is difficult they know that it um it's difficult to do it right it's um to do it consistent and it's a revenue generating activity um that has to be done so um it does not add any value to your bottom line Outsourcing your sales tax through avalara allows you to focus on your growth and gain efficiency so uh as a quote from Jack Welsh he always says do what you do best and Outsource the rest and just in a nutshell avalara we like to call ourselves the tripod of sales tax um we have three solutions which is a sales tax calculations engine uh where we manage your sales tax calculation where you get it right where you drill you drill down to that rooftop location any changes to rates rules boundaries we're maintaining that so

20:33you're getting that real time we manage exemption certificate so if you have customers that are tax exempt we file these in our electronic file cabinet that way that liability lies on your customer not you if you were ever involved into that audit and then we flow your exemption certificates and your sales tax calculations through the returns uh we file remit on your behalf so at the end of the month you're having to just go into our console click approve you're done avalara cuts the checks fills out the reports mails them to the proper tax taxing jurisdiction so very similar to Outsourcing your payroll you're Outsourcing your sales tax so I just wanted to give you in high level of what we do if you'd like more information I'd be more than happy to um talk to you in a deeper discussion and show you the values of avalara and I'd like to hand it back over to Laura wonderful thank you

21:29so much Tara really appreciate that look at um at the solution and the whole tripod I I myself deeply believe in Outsourcing things that are not my baileywick so I uh I like that perspective quite a bit um so I know that was pretty fast and furious looking at two um very robust Solutions and not a lot of time um but I think that you got a good feel for how both of these um are certainly part of uh a well-run business and and part of the processes that you encounter every day um and we'd love to talk to you more about them so uh you can learn more online about either solution at the um at the URLs you see on the screen and you can also contact us at the info at luxent address um avalara is a partner of ours and we would be happy to connect you um through us to to Tara and the team um to learn more about how avatax and the rest of the um product Suite can work for you so with that

22:33we'd like to use our last couple of minutes to move into some some Q&A here um you can feel free to put any questions that you have in the go to weinar panel um and we will try to get to as many as we can here and hopefully um wrap up even a little bit early so Peter I'm going to send the first question to you here um I think aside from being asked if we're sending out the webinar recording this might be the perennial favorite um but can you talk briefly about how long it takes to implement IQ configure price quotes yeah absolutely that's a great question um I would say that it uh ultimately depends on your requirements and how advanced your uh quoting requirements are uh but typically we see um on the very light side of a quoting requirement uh anywhere between two to two weeks to a month and then as it gets more advanced um we can see up to about two months

23:37okay great I think that gives some good stakes in the ground um Tara how does the the tech solution actually integrate with netsuite how does that all work so avalara all it is is an internet connection so we are integrated into netsuite so um it's not an on-prem solution basically it's a flip of of switch it's plug and play um typical implementation time is anywhere from 10 to 30 hours to get you set up um again you're going to work with the go live coordinator coordinator here with avalara that will you will get you up up and running so um again it's just an internet connection and we're integrated into netsuite application okay and um just because I know taxes make all of us nervous or maybe I'm just ining myself here um another quick question for you Tara you know so if we're if you're a company and you're um the question is that you know we just hired people that are in different states how can we be sure that

24:40we're registered to collect sales tax correctly so we have a a Professional Services Department here that is with former Auditors tax attorneys um that you can either do a Nexus study uh to determine if you've created Nexus in a specific state and you're now having to register in that state um or again your CPA or accountant can do that also uh we also have another uh service here um monitoring so um that way we can monitor your sales to determine if you need to um be set up and with that state so you need to get registered with that state so there's a couple options that you can have okay that sounds good nice and foolproof um well with that I think we're going to go ahead and wrap up for today we appreciate um you joining us today we hope you found this informative and hope that you'll reach out with any additional questions Peter and Tara has been a pleasure thanks for being part of today's session and

25:39we'll hope to see everyone on a future webinar thanks so much and have a great day