Top reasons why CPQ software is right for your business
Inefficient processes hold back businesses when they try to move forward. Slow-moving pipelines not only waste your time as well as your customers’ but also drain your resources. Manual sales processes are more prone to error. To achieve maximum efficiency, businesses need to optimize various steps of their sales process.
Before the conclusion of the sale, clients require accurate sales quotes. However, generating accurate quotes for complex products is a challenging task. To address this issue, your business needs software like Salesforce CPQ (configure, price, quote). Organizations can create accurate, personalized, targeted sales quotes. It works with CRM solutions, ERP systems, and other external systems to ensure that accurate data can be integrated to quickly generate accurate quotes for orders.
By implementing this solution for your company, you can streamline the process and ensure that all vital data is ready and up to date for further proceedings. In a scenario where an enterprise has different entities such as sales, service, finance, legal, etc (that create data silos), CPQ ensures seamless communication during a sales cycle. It integrates your existing business processes to make the entire process smoother & standardized.
By integrating various aspects of a sales cycle such as sales, service, renewals, finance and legal, it helps you achieve higher efficiency. Adjustments to prices and amounts, automatic discounts, and a variety of special situations, all things can be managed easily.
This software enables organizations to get the most out of their sales deals. By analysing sales pipelines and having deal profitability analysis, sales representatives can maximize revenue opportunities. Solutions like Salesforce CPQ offer a strategic view of your sales activities. Leveraging built-in business intelligence, you can easily identify top-spending customers and the most popular pricing models in specific segments. Based on these actionable insights, salespeople can provide clients with personalized quotes.
With this software, you can deliver seamless customer experiences. For instance, your customer wants a tire. However, he doesn’t know which one best fits his needs. Leveraging search function, the configurator can quickly determine his buying options. Sales representatives can easily check if a customer’s preferred tire is in stock, and print out a professional price quote on the spot that includes a warranty and even tire maintenance tips.
CPQ Software also brings sellers, distributors, resellers, and partners on the same page. By providing real-time access to the same catalogs, pricing, and promotions, it helps partners to collaborate seamlessly, find the right sales collateral for their sales endeavors, or offer deals on their own to your mutual customers. However, you can control the access to the pricing and product information available to your partners.
For companies that sell thousands of products with multiple bundle options, CPQ software can cut down the amount of time needed to train sales staff by automating some of their tasks. By offering selling guides and product recommendations, it helps sales reps to maximize cross-sell and upsell opportunities. It enables sales team to move quickly to the next sales prospect by speeding up the quote process.
Statistics suggest that customers switch loyalties only after a bad service experience. One of the major contributors of “bad” experiences is “slow response times”. With CPQ, businesses can set up alerts to notify sales reps to replace products or renew contracts. This will help in improving retention and quickly generating new sales. Furthermore, sales representatives need to spend less time on quote generations.
CPQ software eliminates all the guesswork. Using the client’s purchase history, buying preferences, and other data, this software makes it easy for you to customize new products for your clients. By integrating touchpoints like call centers, mobile, and e-commerce, you can easily jump on the competition when rolling out new products. Thus, Time-to-Market gets reduced greatly.
An omnichannel CPQ platform allows you to use a desktop, laptop, or phone to carry out your work. All discounts and approvals can be taken care of even on the go using your smartphone. Having a one-stop-shop for your customers will help you exceed their rising demands.
Leveraging solutions like Salesforce CPQ you can generate custom quotes using custom configurations and a predetermined set of pricing rules such as discounts, bulk orders, season, location, handicaps, pricing fluctuations, and more. Salespeople can quote their customers quickly and accurately. Hire Salesforce CPQ Experts to eliminate the redundancies associated with legacy quote processes. Remove manual bottlenecks and improve cross-department collaboration by implementing CPQ software.
