How Can CPQ Solutions Help Your Sales to Grow
If you sell complex products, configuring and pricing proposals is time-consuming. There’s a limit to how many quotes sales reps can complete in a day. Even basic digitizing with spreadsheets doesn’t add much efficiency. Sure, it’s better than nothing, but not by much.
Without a boost from technology, a manual CPQ process hinders your sales staff and limits how many deals they can handle. It’s certainly not the ecosystem for scaling your sales.
Successful CPQ implementation offers tools for more efficient configuring and pricing and ensures that your proposals are accurate. It eliminates human error and allows teams from all departments to collaborate to get approvals and create drawings and documents.
Maximize opportunities
CPQ software can help you increase average order value to get the most from every opportunity. By automating the cross-sell and upsell functions, your sales reps don’t need to memorize additional products, features, or accessories.
Reduce errors
When it comes to configuring and bundling complex products, human errors happen. But with advanced logic and a robust pricing engine, each product is configured properly to meet customer needs and priced properly to meet sales and profit targets. Dynamic pricing ensures proper raw material costs are used and pricing algorithms ensure every component is priced based on the most current price list.
Automate workflows
If preparing a quote requires input from engineering, production, legal, and finance in addition to sales manager approval, keeping quotes on track is a challenge in itself. By automating workflows, each quote moves through the process to get every input and approval before the documents are created. And when it comes time to submit an approved quote, the CPQ solution can take care of that for you too.
Offer self-serve opportunities
Modern B2B buyers want a self-serve experience, even when buying complex items. By digitizing the guided selling process, prospects can begin selecting and configuring their products before being handed off to sales for finalizing the quote. This reduces friction and increases the customer experience.
