Use subscriptions to keep records of subscription products you’ve quoted or sold. Use assets to keep records of stand-alone products you’ve quoted or sold. You can use these records later to manage amendments and renewals to your opportunities and orders.
What are assets in Salesforce?
What Are Assets? An asset in Salesforce represents a specific purchased or installed product. For example, if you sell robots, you can create a Robot product in Salesforce, and then create multiple assets representing the robots you’ve sold. Each customer’s robot would be tracked in its own asset record that’s linked to the Robot product.
How are related subscriptions organized in Salesforce CPQ?
Related subscription records are organized under a contract record, which also has start and end dates. All of these records are created by checking just one box on the order. Click Edit. Check the Contracted checkbox. Click Save. Contracts and subscriptions are now being generated by Salesforce CPQ in the background.
How do I convert order products to assets in Salesforce CPQ?
Salesforce CPQ can quickly convert order products into assets. This means not having to rely on your sales ops team to create them manually. Click Quotes in the navigation bar. Click Q-00013. Click the Related tab. Click the number of the first order. Click Edit. Check the Contracted checkbox. Click Save.
What are the benefits of asset tracking in Salesforce?
By tracking your customers’ assets in Salesforce, you can easily view and log each asset’s purchase timeline, maintenance history, and more. You can associate assets with various Salesforce records in addition to products.
What are assets in Salesforce CPQ?
Salesforce CPQ creates assets when you click Contracted on an opportunity or order. The asset creation process varies based on your account's renewal model and the value of the asset conversion field on the product you're contracting. We can summarize this process with a flowchart.
What is subscription product in Salesforce CPQ?
Subscription products are services that run for a set period, such as a year-long support service. Salesforce CPQ automates pricing, prorating, and coterminating subscriptions on contracts and renewals.
What is subscription term in Salesforce?
A product's subscription term is the default amount of time that a subscription lasts. The CPQ package setting Subscription Term Unit controls whether the term is in months or days, and defaults to months. Note Daily subscription term units aren't available in Salesforce Billing.
How do I create an asset order in Salesforce?
Generate Assets from an OrderClick Quotes in the navigation bar.Click Q-00013.Click the Related tab.Click the number of the first order.Click Edit.Check the Contracted checkbox.Click Save. ... Click Accounts in the Navigation bar.More items...
How do I make my product a subscription to CPQ?
Navigate to Setup > Installed Packages > Salesforce CPQ > Configure > Subscriptions and Renewals. Select Month as the value for Subscription Term Unit and Subscription Prorate Precision fields and click Save. To create Subscription Products, navigate to Products Tab and click New, set Active checkbox to True.
How are subscription created in Salesforce CPQ?
When you contract an opportunity or order with at least one subscription product under a contract-based renewal model, Salesforce CPQ creates a contract record. It then creates subscription records for your quote's subscription products and asset records for your quote's products with asset conversion.
What is product type in Salesforce?
Product types include: standard product, main product, variation group, variation product, Product set, and product bundle. Salesforce B2C Commerce uses different types of products to support requirements for different storefront ordering information, such as size, color, and customization options.
What redundant process does Salesforce billing eliminate?
Salesforce Einstein Analytics has a pre-stored algorithm mechanism. This eliminates the redundancy procedure of starting from scratch.
Which items can you dynamically generate on a PDF quote?
Specific pages, sections, and even individual quote terms can appear dynamically as well. You can add to the output by attaching supplemental materials, such as product specification sheets, to get a single, concatenated PDF.
How do I use assets in Salesforce?
HousekeepingFrom the Object Manager in Setup, click Account, then click Page Layouts.Click Account Layout.Click Related Lists.Drag Assets to the Related Lists section.Click the wrench icon on the Assets related list.Use the UP arrow to move the Status field right after Asset Name. Click OK.Save your changes.
How do I create an asset relationship in Salesforce?
Click New on the Assets home page or on the Assets related list on a record.Select a product.Enter a name for the asset. ... Select an account, contact, or both to indicate who has purchased the asset (required). ... Optionally, select a parent asset. ... If the asset is a competitor's product, select Competitor Asset.More items...
What is order and contract in Salesforce?
An order is an agreement between a company and a customer to provision services or deliver products with a known quantity, price, and date. Your Salesforce admin determines whether you add orders to contracts or accounts.
Why are subscriptions special?
Choose the Right Term. Subscription products are special because they’re sold as a service that lasts for days, months, or years. Since time is involved, you must consider what unit of time you want to use when quoting subscription products.
Can you use months as a unit?
Since the units are set org-wide, it’s not possible for some products to use months as a unit while others use days. Choosing the right subscription term unit is important because it affects how CPQ calculates prices.
How Services Changed Selling
When people heard the word "subscription,” they used to think of magazines and newspapers. Now you can get a subscription for almost anything. Ingredients for dinner? There's a subscription for that. New clothing every month to suit your style? Yep, that too.
Sign Up for a Developer Edition Org with Salesforce CPQ
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Hands-on Challenge
You’ll be completing this challenge in your own hands-on org. Click Launch to get started, or click the name of your org to choose a different one.