Jan 24, 2022 3:25 PM
Hello! Thanks in Advance for reading and answering.
We use an external CPQ software, since CMS isnt super integrated with Quotes (yet?)
We sell projects that have a budget, and eventually an actual result.
There is of course the accounting department but we are curious if there is a case or an example for putting custom properties in for project budgets, actual costs, profit, margin %?
We would put data in from accounting:
Deal Materials Cost
Deal Labor Cost
Deal Subcontractor Costs
Deal Other Costs
Then we would use calculated properties to say
Materials cost this % of the deal value
Also (deal value) - (Costs) = Profit
Is there a case for this? I tried searching "Accounting" "profit" "job cost" and "Budget" but couldn't find anything on the topic
Why do I want to do this?
We first of all want to keep as MUCH info inside hubspot as possible for single source of truth.
We also want to relate the expected margins to closing ratios. The idea of course is that sales reps could be generating more profit, but at a much lower closing ration and burning through customers. Or another rep could be closing lots of deals but poorly mapping out budgets. We could also sort by product and find out which products typically close at higher margins and use this in our buying.
This YES, does wander into ERP territory but can use this to avoid spending $50,000+ on an ERP in netsuite or sage?
Would love some thoughts on this! (We are full enterprise suite)
Jan 25, 2022 5:34 AM
You should be able to do this today with the use of two calculated fields. The first being the field to sum up all your costs, then the second to subtract those costs from the deal amount. I do this with a few clients today to sum up more accurate deal amounts based on other indicators, but no reason you couldn't do this to sum up actual profits.
Alternatively, you could potentially utilize the "Margin" that already lives on the line items and then create a calculated field based on the sum of all line items "Margin" of the deal?