Autocalculate margin & gross margin

Geo

If Hubspot was able to calcuate gross margin from margin and amount fields it would make the inputting of deals a much more efficient process for our business. It would also make reporting on these figures much simpler, its a basic requirement of any sales director and should be easy for Hubspot to implement. We currently use 2 custom made free-text properties to facilitate our reporting, it just seems a clunky and time consuming way of doing things.

31 Replies
AddintelWoody
Participant

Completely agree.

 

How did you do the custom made free-text properties? 

 

I'm just trying to set deals up with variable changable margins and am struggling a bit.

 

Thanks in advance

 

Woody

CBriand
Member

I totally agree. The amount itself doesn't mean much & involves manual treatment for us. We really need to know the overall margin rate per deal.

soumyadip
Member | Partner

Absolutely. It is really important to have the margin (Sales price- buy price) field in reporting for companies, who are working as a dealers or partners of another vendor. Else, it doesn't serve the purpose of tracking sales through hubspot. 

slohnick
Participant

A key feature that is missed from my point of view. Also, I would like to see that margin being reported in dashboards/graphs etc.

ILM
Member

This is the one failure of HubSpot in my opinion and I am really surprised they have not responded to this.

 

We currently use HarmonyPSA and we're considering a move from that to HubSpot but Harmony provides us with all of the GM detail we need, which is paramount to ins understanding our overall GM position when forecasting.

 

@hubspot will this ever be implemented?

Simon_MyLeads
Participant | Partner

I've just spoken to Technical Support regarding the very same request - it seems very useful for any business requiring reporting on margin, rather than revenue. Hopefully @hubspot will make this available sooner rather than later!

 

MarkDarby
Member

I agree with this. Hubspot already works the Margin out so I do not know why they cannot do a quick fix on this. It is paramount for a business to work out Margin on any deal to report on Sales staff's KPI's. 

meldominguez
Participant

mind boggling that this is not implemented into reporting

JPs12
Participant | Diamond Partner

At the moment you can use Amount, Amount in company currency, Annual contract value, Annual recurring revenue or Monthly recurring revenue -property when you are using Products on the deals / Quotes.

 

While configuring your products and terms on a deal it literally shows you TCV, ACV, ARR, MRR, Margin (TCV) and Deal amount (TCV) (see the pic for referral).

 

Deal --> Products --> Edit productsDeal --> Products --> Edit products

 

@hubspot Why on earth is Margin (TCV) not a property on a deal? You cannot even use workflows on Sales Pro to quickfix this issue because even though you can use "Total contract value margin" (Line Item --> Total contract value margin) as a trigger you cannot copy this property value to a deal property with Property management action: Copy property value. The only way to fix this at the moment is to create a currency type property and literally manually copy and paste value from the deal's product page to this property. This is a) stupid b) error prone c) stupid and error prone.

 

No matter on which way I look at this it seems to conclude to the same result: Margin (TCV) does not have a property value "Total contract value margin". Please @hubspot add Total contract value marginMargin (TCV) as a deal type property.

 

This would result to the next scenario: If you change the value/unit cost/amount/terms of a product or add a new product to the deal, the system would automatically re-calculate TCV, ACV, ARR, MRR, Margin (TCV) and Deal amount (TCV) and update the respective property values. This way we can use this data for our reporting (and it would not be subjected to human error in copy paste process) which is CRUCIAL in business point of view.

 

Please fix this asap and bring the sales reporting on Hubspot to the next level!

StevenRolfe
Member

This margin reporting really is a must - not only for top level - but the sales team (just mvoed from SalesForce to Hub Sales Pro) cannot view a 'deal' and see easily the details such as GP £, GP%.  Even within products themselves we dont have and cannot see a Total Margin figure.  Its madness.  

 

We are targeted and report on GP £, not revenues.  Dont get me started on calculating Margin reports for commission calcs!

 

Come on Hubspot....

Simon_MyLeads
Participant | Partner

Having been following this thread for some time, I was interested to see that overnight @hubspot has enabled a new calculation for deal amount - that being a manual entry. This is obviously a positive addition, but despite this field being editable within the products section of a deal, it still can not be used within a workflow or be automatically populated by the margin on a deal. 

 

Greater flexibility on financial reporting is a must for any business. 

 

Please HubSpot - if the platform can calculate the figures your users need (and it can, as they are there for all to see) then let us use them for reporting, within workflows, to copy property values from one field to another etc.

Shiran
Participant | Diamond Partner

Agree, this is a feature clients ask for. 

UXGNoel
Participant

I was so hoping to drop online and find some simple way to sort a margin report, with everything else on Hubspot being simple... can't beleive this isnt in here! Come on Hubspot, you have the info there already. 

ILM
Member

It's pretty ridiculous that they haven't built this in yet when so many customers, and potential customers, are asking for it.  It speaks volumes about their priorities and HubSpots agility to adapt customer requirements.

NNewman
Member

Agreed, 

Please can we have this feature @hubspot

RCampbell3
Member

I agree with the other comments in this thread, it seems like it would be a fairly simple thing to expose the Margin (ACV) field, which already exists in the UI on the Line Item screen, to the reporting and analytics section.

 

We just purchased HubSpot 2 months ago, and I really don't want to have to go the custom property route as a workaround for this, when it seems like it should be an easy fix, since the data is all there.

 

It also doesn't help with internal buy-in, when we're rolling out our beautiful new system, to have to make excuses for why things don't work the way stakeholders expect them to. 

Edyta7510
Top Contributor

Absolutely agree. 

 

In order to make it work for us, I had to rely on custom properties... which, no surprise, doesn't make it easier. Just another field for our sales team to fill in. Personally I decided to ask sales to fill in Margin % and Margin value is another property that gets calculated based on the %. Our sales team work with margin% in mind already, so this is somewhat easier than typing a value, which is prone to mistakes... 

 

ethankopit
HubSpot Product Team

Hey team - we do offer a margin field/calculation on our Line Item objects (i.e. the products associated with a deal). Does that help?

Edyta7510
Top Contributor

Hi @ethankopit it is useful, but very limited, unfortunately. When it's on the line item objects, we cannot use it for any other calculations (I need to create additional properties based on that number). 

Shiran
Participant | Diamond Partner

100% agree with @Edyta7510, the current feature is VERY limiting. We can't do anything with it other than see the margin. For most clients revenue is just a vanity metric at the end of the day and gross profit is what 90% of our clients need to see, so being able to calculate GP % and using the number in workflows (beyond just a trigger) is so vital. We also really need a GP goal option.