Automation helps tech company tame complex pricing and quoting
INDUSTRY: HIGH TECH
As one of Australia’s premier data science and analytics firms, Quantium works alongside the world’s leading brands in helping them translate their raw data into actionable insights, transforming the way businesses interact with and understand their customers.
Within Quantium’s FMCG product segment, the team faced a range of challenges as a result of a heavily manual quote to cash process.
Working from a complicated pricing system based on spreadsheets, the Quantium team were challenged to maintain a vast catalogue and complex product structure, where prices and hierarchies would frequently change due to data sources outside of their control. Meanwhile, a high volume of manual account renewals occurring at the same time each year was causing a significant bottleneck for other employees.
Senior Salesforce Platform Manager Alexander Teleki said there could be up to 25 steps involving eight different systems to go as part of the account renewal process – all for just one client.
“We knew there had to be a better way to automate some of these tasks, and so we looked for a solution that would work for us,” said Teleki.
Quantium knew they needed help to streamline the complexity of its operations. After looking at various solutions across the industry, they moved ahead with Salesforce CPQ and chose Simplus to help implement the solution.
THE SIMPLUS SOLUTION
A scalable solution was needed to help rein in the complexity of its processes and fit alongside Quantium’s business model and plans for growth.
Simplus’ recommendation was to implement a CPQ (configure/price/quote) solution based on as much standard functionality as possible to avoid unnecessary technical complication. Both Simplus and Quantium were equally convinced that focusing on standard functionality would be the most effective solution.
Simplus were able to implement a comprehensive Quote-to-Cash system that supported Quantium’s large volume of products and frequent changes to its pricing and hierarchy. The team could create, update or decommission products without any added manual handling, and crucially automate their renewals and quoting process, giving a significant boost to productivity.
Following the implementation of Salesforce CPQ, the Quantium team saw a range of important benefits and key improvements. These include:
Improved, clear visibility of approvals which meant the team can now see required approval processes for any particular quote, as well as enhanced visibility and sign-off around discounting which helps Quantium increase profitability.
Introducing a real-time pricing capability that simplified the pricing system that was in place and automated price changes from external sources to provide visibility to stakeholders across the process.
Quantium’s business logic was added throughout the CPQ solution so that alerts for opportunities or errors are more visible to team members and products are added automatically to a quote.
Renewals are now automatically created two months before the end of an annual contract. By clicking one button team members are able to automatically renew hundreds of contracts on mass with updated products and pricing included automatically.
Bespoke order documents are also generated and sent for automatic e-signature.Users now only have to manually interact with the process if additional discounts need to be applied saving the business considerable amounts of time and allowing senior employees to focus on tasks of more strategic value.
Reducing the number of quoting templates through smart consolidation resulting in time saving on contract approvals. Conga and DocuSign are used to ensure the quote process is smooth and can run in the background as much as possible.
Measures of Success
"With the agile quoting solution Simplus developed for us, we were able to get rid of many manual tasks and cut back on the potential for human error. Rather than getting bogged down by admin, our staff can now get back to what they do best which is focusing on our customers and keeping them happy."
Senior Solution Engineer
If you would like to learn more about CPQ contact the Simplus team today.