Want to configure the complex quotes faster with a few numbers of errors? Or want to speed up the sales cycle associated with complex quotes with increased revenue? Both of the situations demand to discard manual methods of quoting and switching over to automation by using a CPQ (Configure, Price and Quote) software. The robust tool has a wide range of features that can serve fully customizable complex quotes. CPQ software has built a strong market presence, and its popularity is also increasing with each passing day. CPQ market value is $878 Million currently and is expected to grow at 20% through 2020.
B2B sales are increasing in complexity and scope across all industries, especially, SaaS, resulting in the utilization of innovative sales strategies, such as customizable product packages and subscription-based sales. Most B2B buyers, today, would like to partner with organizations that can understand their needs and expectations. One can always gain short-term revenue by treating them just like another conversion but then you may easily lose loyalty. We live in an era where it has become very important to create and differentiate a brand value by building a community of customers who stay loyal for a long period of time.
Salesforce CPQ is easy-to-use software which has a cloud-based platform. It is hosted within the Sales Cloud and can be implemented as a Subject-Matter-Expert in your CRM. Higher the accuracy and efficiency in the proposed configuration and quote, higher would be the trust in your organization for all future needs.
How can Salesforce CPQ revolutionize your sales?
1. Enhanced Integration of Data Across the Supply Chain
1. Enhanced Integration of Data Across the Supply Chain
The cloud-based industry-standard APIs allow users to connect across the premise system of business so they can perform seamlessly. CPQ allows the businesses to collect data easily thus pricing, quoting and configuration are not only faster but easier. This integration becomes the reason behind the smooth and error-free data flow.
2. Supreme Decision-Making Abilities
Sales can be quite complex as they often hinge on the ability to make numerous decisions quickly. When decisions are based on poor data points or inconclusive analysis, the sales reps are bound to make bad decisions. In order to avoid losing deals at such critical junctions, you need a software tool that provides a detailed, lucid analysis.
3. Automation Through AI
AI tools can survey various scenarios and different factors involved in a sale from a broad perspective and see how they fit together. AI assistants can quickly assess a deal’s profitability making it an important element in using CPQ software to its full potential.
4. Modern UI design concepts
In the responsive web design, CPQ software provides users with a piece of easy-viewed-to-the-point information and enhances the interaction experience. CPQ can work on multiple devices, so it shortens the sales cycle, which means salespeople can easily generate quotes on devices.
5. Enhanced Customization to Facilitate Unique Sales Situations:
The true and lasting value of CPQ lies in its ability to be modified instantly to work with thousands of different product configurations and deliver more accurate proposals and quotes to prospects with short turnaround time. With the continued improvement of CPQ software, you can reduce bottlenecks and move your customers closer to realizing the value from their purchase faster than you ever thought possible.
CPQ as a business strategy?
CPQ is a crucial part of a successful global, multi-channel selling strategy which increases the effectiveness and efficiency of sales reps manifold. It gives you full visibility into sales trends and channel effectiveness across geographies.
CPQ isn’t limited to “a back-office solution”, it can streamline bulky sales processes into lean, productive systems for the entire company. Salesforce CPQ will definitely ensure teams’ focus on optimum use of time and resources, making the sales process highly efficient.
Reference: Salesforce
Pratyush Kumar
