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NetSuite CPQ (Configure, Price and Quote) Explained

December 21, 2022

NetSuite CPQ is a module enabling sales teams to swiftly configure, price and quote complex products and services. Total accuracy and reliability are assured and it is all done directly within NetSuite. The power to generate 3D product visualisations and automated creation of sales proposals both accelerates and enhances the sales process.

The CPQ software operates seamlessly with NetSuite’s ERP, CRM and e-commerce solutions. It utilises NetSuite inventory, pricing and profitability data and connects with workflows designed to automate the journey from sales to delivery. This includes the generation of bills of materials (BOM), work orders and routings.

 

NetSuite CPQ Benefits

 

NetSuite CPQ has a lot to offer, with such benefits as:

  • Customise business logic to prevent errors in configuration. This saves time and money on having to recheck multiple times and also rework orders.
  • Ensure the quote, order and production cycle are completely error-free using high-tech automation tools.
  • Make the sales cycle shorter by creating quotes and orders for configured products in a matter of seconds.

 

Features of NetSuite CPQ

 

Dynamic Pricing

With NetSuite’s standard pricing data as a starting point, you can apply rules-based pricing when configuring your product or service. Dynamic prices then become available on the quote and the order for the completion of the transaction.

 

Configurator

Empower both customers and salespeople to select product features and options and apply customisable business rules to ensure the correctness of every configuration. This will save you money on having to check and rework orders, further improving efficiency and enabling you and your teams to focus on more important tasks.

 

Proposals

Ensure your proposals are branded and accurate. The CPQ Proposal Generator equips sales reps with fast, simple ways to provide customers with high-quality proposals. Templates are fully customisable so sales can easily produce highly-polished proposals that are instantly engaging and representative of your brand.

 

Quotes

Move quoting from a slow, manual endeavour to a streamlined, e-commerce-like experience. Live Quotes enables sales teams to deliver interactive emails with quotes for customers to engage with, allowing them to confirm they want the quote to move to an order and passing that message to sales reps within NetSuite CRM.

 

Guided Selling

Help salespeople and customers find the products and services they need with ease. Configure a series of questions and answers to identify what the user needs and reveal recommended products/services that can be standard or configurable items. This will boost sales and improve the customer experience.

 

Bill of Materials and Routing

Lower manufacturing costs while boosting shop floor efficiency. Create routings and bills of materials based on established business logic within the NetSuite CPQ rules engine. Routing and BOM instructions will be specific to the configured product, ensuring it is produced with the appropriate materials and correct steps for completion of the working order. This is the kind of efficiency that can drastically improve profitability.

 

E-Commerce Integration

Configure products easily and simply on your website. NetSuite CPQ integrates natively with SuiteCommerce and integrations are also available with other big e-commerce platforms like Shopify and Magento. This makes it easy to get the most out of your e-commerce operations.

 

3D Visualisation

Generate 3D, interactive, browser-based product visualisations to enhance the experience for users of your website. This empowers online buyers and salespeople to look at dynamic, three-dimensional images of custom, configured products whenever they want to.

 

What Challenges does NetSuite CPQ Solve?

 

  • Inaccurate quotes and orders: through the use of configurable business logic and rules, you can eliminate configuration errors and stop having to double and triple-check orders (and have to rework them).
  • Manual quoting: the inefficient, time-consuming process of manual quoting can now be optimised to be executed with a single click like an e-commerce experience.
  • Over-discounting and margin loss: with intuitive pricing and discounting tools, sales reps will consistently deliver accurate pricing at the highest margin possible.
  • Inefficient sales-to-delivery processes: generate routings, BOMs and work orders automatically. This will ensure all products sold are produced quickly and accurately.

 

How Much does NetSuite CPQ Cost?

 

No matter the size of your business, there are benefits to be reaped by making the move to NetSuite. If you are looking into superior ways to run your business, one of the key considerations will be the cost.

NetSuite is available to users as a subscription based on an annual licence fee. Your licence is composed of three primary components: the core platform, optional modules and the number of users. There is also a one-time cost associated with the implementation of the system. As your business expands and grows, it is easy to add users and activate new modules for a completely scalable solution – that is one of the major advantages of cloud computing.

NetSuite CPQ is one of the add-on modules you can include in your subscription.

 

Why choose Eventura to deliver your NetSuite Project?

 

As an official NetSuite solution provider, we have successfully delivered countless NetSuite implementations and integrations. Our expert team of business analysts, developers, consultants, technicians and support staff can guide you through your entire project, from initial scoping through to implementation and on-going support. We also offer a wide range of Managed IT Services, so we can help you deliver your project in it’s entirety.

We believe that NetSuite offers its customers a comprehensive suite of products that can digitally transform their businesses, replacing a range of disparate systems and software with one unified solution to business management.

If you would like to speak to one of our NetSuite experts, you can request a free call back here.

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