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Are you looking for a robust Salesforce extension that offers solutions for subscription management and billing? If you’ve shopped around, you may be concerned about making the right decision when there are several Salesforce subscription solutions in the market.
How can you know which works best for your business? We understand time is precious for entrepreneurs; they do not have the luxury to scrutinize every software solution. So, we compared two Salesforce extensions that can promote greater productivity for subscription management and recurring billing: today’s primary choice — Salesforce CPQ — and a new solution from PowerSync called Recurrex.
This article is for you if:
- You’re searching for a detailed comparison between Salesforce CPQ and an alternate option
- You want to know which software solution best fits your business model
- CPQ looks too complex for your needs
Overview of Salesforce CPQ and Recurrex
Often times, sales representatives spend time entering or fixing data manually when they could be finding opportunities, building relationships and closing deals. This is a problem that Salesforce CPQ and Recurrex aim to solve. Both Salesforce CPQ and Recurrex are applications that run on the Force.com platform.
Salesforce CPQ — which stands for Configure, Price, Quote — is a useful sales tool that serves many functions. Because Salesforce CPQ is software that was acquired by Salesforce, some may say it has the home-court advantage compared to other applications built on the Force.com platform.
Recurrex is a product built on the same platform by Austin tech company PowerSync. Igor Krasnykh, CEO and founder of PowerSync, said he created the product because he recognized the everyday challenges of subscription companies spanning a variety of industries — particularly when it comes to data-gathering and completing cumbersome, repetitive tasks with ease. The tool automates processes so sales reps can focus on what they do best — generating revenue.
A Comparison of Features and Pricing
Salesforce CPQ
Salesforce CPQ allows companies to create a structured and scalable sales process. It offers robust functionality, part of which includes creating and managing recurring revenue. After adding subscription products to a quote, a child contract is created with recurring orders on the account.
Salesforce CPQ also provides the ability to track, analyze and forecast sales; a deal-making canvas for sales reps that allow them to speed up even the most complex quotes; flexibility for sales reps to control discounts; automated approvals; the elimination of spreadsheets; and an email process to finalize the sales cycle.
Below is a full list of features:
- Pricing: Starts from $75 and goes above $150 per user per month
- Product Catalog
- Product Selector
- Product Configurator
- Bundling and Nested Configuration
- Parameter-Based Pricing
- Discount Management
- Proposal Output Generation
- Basic and Advanced Approval Workflow
- Dynamic Contract and Order Generation
- Contract, Assets, Subscription Objects
- Order Management
- Renewal and Add-ons Management
- Contract Amendments
- Standard Success Plan
- CPQ Essentials Training
- Basic and Enhanced Enablement Package
- Tailored Services Package with SOW
Recurrex by PowerSync
Recurrex aims to automate necessary flows that enable sales teams to work smarter and not harder. It saves companies thousands of hours annually (and sometimes even quarterly). It can take the place of one to three full-time employees. It also ensures accuracy because it automates steps that are sometimes easily skipped or overlooked.
With Recurrex, an Opportunity in Salesforce can easily be converted into a recurring Subscription Profile (a custom object). From there, a billing frequency can be set (monthly, weekly, quarterly, etc.), as well as an expiration date. Sales reps also have the flexibility to set quantities, remove products and change prices. These changes can be done at any point without interrupting current work or creating additional manual tasks. The system also allows you to send automatic notification emails to let customers know about upcoming renewals. This much-needed automation is extremely easy to set up, easy to manage and simple to customize.
Below is a full list of product features:
- Pricing: 15-day free trial, then $35 per user per month
- Dynamic Opportunity and Order generation
- Automate renewals
- Flexible and customizable Billing Frequencies
- Discount management
- Contract, Payment Transaction, Subscription Profile Objects
- Order management
- Renewal and add-ons management
- Amendments to recurring Orders and Contracts
- Payment notification reminders
- Built-in reports & dashboards
- Easy Integration with Payment Gateways through BlackThorn.io
- View and report on the account & billing history
- Recurrex training
- Basic and advanced support packages
- Tailored services package with SOW
What Does Your Business Need Most?
Wrapping Up
Salesforce CPQ and Recurrex are both excellent additions to your Salesforce platform. Both options offer the experience of a lifetime, but they ultimately serve different purposes.
Before you decide on a tool to integrate into your system, consider a few critical matters. First, evaluate what processes you urgently need. Next, consider your budget. If you are looking for a tool that helps automate subscription profiles and recurring billing, then Recurrex is an obvious choice. It has clear-cut subscription solutions at an affordable price.
If you are not convinced, try integrating Recurrex to your Salesforce platform for 15 days FREE of charge (or schedule time on our calendar if you would like to learn more about Recurrex and PowerSync’s other Salesforce solutions). We would be happy to assist you with identifying and solving your e-commerce needs.
