HubSpot started off dabbling in the quote-to-cash space with Commerce Hub which allowed you to easily collect payments directly from HubSpot. This was quite a simple flow and had limited practical applications for more complex customers.
But HubSpot have been busy! They have now expanded significantly on this functionality and renamed it "Revenue Hub". It brings together multiple elements and allows you to progress a deal all the way through to invoicing.
The Revenue Hub object model has been significantly expanded on to help pull everything together:
Allowing you to easily build out purchasing flows from Lead -> Deal -> Quote -> Contract -> Invoice & Payments / Schedules.
Previously you would often have to rely on a 3rd party platform like Chargebee or Deal Hub to achieve the above and then integrate it with HubSpot. But now you can manage it out-of-the-box from HubSpot.
The contract object is the new heart of Revenue Hub! Allowing you to easily manage renewals, contract changes (upgrade, downgrade, pro rata calculations, billing schedules)
Previously this was quite difficult to manage without some kind of 3rd party CPQ tool or process. But now this is all a few clicks a way for a sales rep to easily self manage.
All these new objects revolve around the contracts object and help automate your billing schedule and collection of money when it needs to be chased up.
Invoices can easily be synced with other platforms like Xero/Quickbooks with existing connectors or build your own custom integration via HubSpots APIs!
Another huge improvement is the new quoting tool. You can now build fully custom modules that can be dropped into a quote and pull from HubSpot CRM data.
These modules can contain all kinds of logic and pull data from multiple associated objects.
If you are familiar with content / CMS Hub it uses the same kind of modular interface where you can simply drag and drop and edit content via a WYSIWYG editor.
Take it to the next level with HubSpot extensions!
While this is not exactly new it does allow you to build out your own custom interfaces to help collect the data needed for a quote. You can build you own custom CPQ processes on the deal object to further improve workflows for sales teams. This allows you to strip the interface back to exactly what they need before any line items are added to a deal / quote.
A simple example of this would be if you wanted to filter your product library by a certain type of product or force the sales rep to enter certain information that needs to be defined on the quote to drive logic there.
And of course probably the biggest challenge we used to face was being able to report on it all! Now that all the data is stored in HubSpot you can easily tap into this to build out custom reports or use any of the prebuilt ones from the revenue analytics suite!
This is probably one of the more complicated Hubs on offer from HubSpot! If you need assistance setting up Revenue Hub we are here to help - reach out via our contact us page here.