Do You Know What CPQ is? Learn The Ways it Can Help Your Business with Faster Quote Generation.

CPQ is not a new concept for businesses. Companies around the world are working on Configure, Price, and Quote in their day-to-day sales activities. But, the innovation in the CPQ tools in the past few years has turned the table for businesses and their sales activities.?

This sales tool lets companies generate quotes quickly and accurately. The CPQ integration with businesses and other technologies like CRM platforms, ERP programs, etc., ensures strong & accurate data integration.

The CPQ software is equipped with a pre-programmed set of rules that make the quote generation process seamless and error-free.?

According to a report by?Salesforce, the companies that have embraced CPQ implementation services have experienced the following –?

• 10X faster quote generation
• 95% reduction in the time of approval
• 30% quicker ramp for new sales representatives
• 2X quick movement from Quote to Cash

Are You Happy with Your Legacy CPQ System? Ask These Questions To Yourself

CPQ software is an amazing tool. At the present time, there are still many businesses that use conventional systems, and they are happy about the same.?

This is the rise of concern because they are missing a huge opportunity for growth and a chance to experience an enhanced sales process in the absence of new Salesforce CPQ software solutions.

Here are the signs that tell, your business needs CPQ –?

• Having CPQ implementation becomes mandatory if your business is sending inaccurate sales quotes to customers and prospects.
• CPQ integration with the current sales process eliminates the manual sales quote reviewing process.
• If you are using a legacy quote generation and configuration tool, your business needs CPQ.
• Is the growth of revenue surpassing your ability to operate? If yes, its time for CPQ integration.
• Are you building a recurring revenue stream? Get CPQ implementation services.
• You need CPQ consulting services if you are looking for the implementation of advanced business solutions like built-in AI in your sales process.

Top 5 Advantages of CPQ for Businesses

Accurate quote generation, on-time delivery of sales quotes with correct pricing and approved discounts, and promising customer configurations are the primary requirements for any business.?

With CPQ software integration, businesses don't have to dig deep into spreadsheets with humongous data to find the right pricing rules.

Improved Accuracy

Improved accuracy is the biggest advantage that business enjoys with CPQ solutions. CPQ helps businesses specify every configurable price and discount that strengthen the company’s capabilities.

CPQ’s power of automation walks users through the process of creating complete accurate quotes and offers custom templates.

• Salesforce CPQ users have experienced a 35% reduction in errors during quote generation.
• Salesforce CPQ implementation has improved 29% increase in forecast accuracy.?
• Customers have also experienced an improvement in speed, 33% more efficiency.
• There’s a 20% decrease in the time taken to close quotes.

More Collaboration and More Accuracy

CPQ software integration with businesses paves the path for seamless collaboration among different departments of companies. A rightly implemented CPQ involves sales, renewals, finances, legal, etc., facilitating different configurations which are possible financially and legally.

CPQ implementation makes your products and services more solution-oriented and customer-centric. It offers the best possible options and improves the work of cross-functional teams.

Process Standardization

CPQ bridges the gap between different departments in the companies. Often sales, finance, manufacturing, legal departments, etc., work in silos. CPQ brings everyone on the same page and allows communication and standards to be firmly set in place.

From order generation to order fulfillment, CPQ takes care of every step in the process and improves the accuracy of the quotes, which will positively impact all departments.

CPQ Improves Efficiency of Team Member

In the studies by Salesforce, it was revealed that only a salesperson spends only 34% of the time in actual selling and the rest on other sales-related activities.

With Salesforce CPQ in the picture, salespeople can have a more streamlined process which paves the path for more customers meeting and more sales. Sales reps can put additional efforts into potential leads and turn them into loyal customers. With the help of Salesforce CPQ, integration services will be able to make more informed calls with all necessary information about a particular prospect.

CPQ Improves Savings and Revenue

The automation in CPQ solutions helps businesses experience hassle-free processes that range from transaction to closing sales. This solution facilitates accurate configuring products, and apply to price, and enables quantity discounts with the power of automation that makes sales professionals happy and improves customers’ confidence in your company.

CPQ allows the sales team to focus more on selling and delivering quotes that suit best for the customers. It closes deals faster, reduces operational costs, makes the sales process more efficient, and improves the team’s efficiency. All this led to the company's growth and improved revenue streams.

Conclusion

Salesforce CPQ software is a perfect quote generation solution irrespective of business size and scale. From small businesses to large-scale enterprises, Salesforce CPQ integration and implementation services will improvise for you the process of configuring products or services in the most optimal manner. You can also price your products and services accurately as per costs keeping all competition and local economic factors into consideration. Hire Salesforce CPQ experts and get a competitive edge above your competitors.