Case Study - FinTech
High Tech company focusing on the FinTech industry. New to Salesforce and not initially using a quoting tool. All the
quoting and invoicing were done manually and outside the Salesforce platform.
Using Conga for creating and generating contracts, not integrated with Salesforce.
Invoicing and billing done outside Salesforce and the two platforms weren’t integrated.
Various siloed applications operating individually for various parts of the business but not integrated with Salesforce.
No “source of truth” of a main platform.
Significant loss in revenue due to the inability of the renewal team to renew the contracts on time.
No ability to track or measure recurring revenue.
Price calculations done outside Salesforce sometimes with mistakes and discrepancies.
Lost revenue due to over-discounting and mispricings.
There were no restrictions around the minimum quantity set for products.
Sales team incorrectly selling services that weren’t associated with the correct subscriptions.
Lots of wasted time on creating and generating a quote. Lots of manual work involved.
The contracting process was also largely manual, conducted via email between the Sales and Contracts team.
Our three-fold approach incorporated project management, solution architecting, and declarative development, the combination of which helped the company’s operational efficiencies through smart platform design and integration.
Streamlined the business process by implementing the CPQ cloud onto the Salesforce platform and by integrating the other related platforms.
Set up a comprehensive quoting process, smart approvals, contracting pricing, contract and orders, renewals and amendments process, provisioning/deprovisioning process.
Increased revenue due to the sales process becoming much shorter due to the quoting automation and pricing calculations.
Quantity of Subscriptions sold considerably increased with implementation of the min and max quantity and by adding various validation rules in place.
The quoting process considerably became shorter and sales team were able to quickly Clone bundles in QLE, eliminating the need to recreate renewals and amendments from scratch.
Accounts sent to collections dramatically decreased as we have implemented Dunning and Collections Package.
Easy to calculate recurring revenue - one source of truth on one unified platform.