What is Commerce Hub and what does it do?
Commerce Hub is an opportunity to revenue platform built inside HubSpot CRM designed to assist B2B Small and Medium-sized Businesses (SMBs) get paid faster, increase revenue, and save time.
So what exactly does Commerce Hub do? Here's a breakdown of its key features and capabilities.
1. Invoicing
Commerce Hub allows users to create invoices directly within HubSpot, eliminating the need for external invoicing tools. This enables faster invoice creation and delivery, often within minutes, instead of days using a single, integrated tool.
2. Invoice Management
Users can easily manage and track invoices sent to contacts within the CRM. This includes details about the content of invoices and associated records, as well as information on payments received.
3. Automations
Users can set up workflows to automate various tasks related to invoicing, such as sending automated reminders for overdue payments, making the process more efficient and less manual.
4. Payment Links
Commerce Hub enables the creation of payment links that can be shared with customers, making it easy for them to pay for products or services, particularly for smaller, self-service transactions. Note that the payments tool is only available in the US for now, if your organization is based in the US, have a US bank account and using a paid version of HubSpot. HubSpot may expand eligibility to customers located in additional countries at a later date.
5. Subscription Management
The platform provides tools for managing customer subscriptions, including the ability to update payment methods, billing frequencies, and other subscription details directly from within HubSpot.
6. Quote Creation
Users can create professional and visually appealing quotes within HubSpot, making it easier to move from the agreement stage to revenue generation. These quotes can be electronically signed by customers.
7. Reporting
Commerce Hub offers a revenue dashboard that combines payment and commerce data with CRM data. This provides insights into revenue, including gross payment revenue by sales representative, top-selling products, accounts receivable, and overdue accounts. Users can take actions, such as addressing overdue receivables, directly from the dashboard.
8. Integration Options
Commerce Hub provides integration options with other systems, such as QuickBooks and payment processors like Stripe, offering flexibility in managing financial operations.
Check out this 2 minute 30 second video to see a quick walkthrough of HubSpot's new Stripe Integration as an example:
We hope that gives you a the high-level introduction you need to understand a little better what Commerce Hub is and the tools that helps businesses get paid faster, increase revenue, and save time by centralizing these operations within the CRM. Still want to know more? Do not hesitate to get in touch clicking on the link below.
Talk to us about Commerce Hub!
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Katrina Thunem
Katrina has worked with clients all over the world at some of the largest international marketing and advertising agencies. Katrina excels at inspiring, organizing, and executing creative digital marketing campaigns that harness the power of today's technology.
