CPQ Explained – Optimise Every Buying & Selling Touchpoint

by | Apr 19, 2021

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Even the best product must find its way to the customer, hence “be properly sold”. However, it often turns out that the actual contact with customers is lagging behind other activities (mainly administration) that could be simplified. If your internal sales processes take longer than desired, CPQ is definitely what you are looking for.

Sales automation?

Up to half of the total time can be spent on creating offers, sending proposals, waiting for approval of requirements from the manager. The waiting is what makes the process so time-consuming. At the same time, the customer’s attention and enthusiasm for your product can wane. Fortunately, these activities can be automated to free up employees so that they have the capacity to do the essential – focus on a customer.

CPQ can be a useful tool for your business and help overcome these complications. If your employees use older configurators, manually create and check offers, or even have a habit of sending inaccurate offers to potential customers, it’s time to change that.

CPQ Explained

CPQ is an abbreviation for Configure, Price, Quote. It is an extension to the Salesforce environment with a sales module that specialises in creating quotes. You can quickly move teamwork from spreadsheets and manual processing to an automated tool that can create flawless quotes. To do this, it helps merchants sell the right product combinations, checks discounts, or automates bid approvals.

Many people are directly dependent on spreadsheets and email in the final stages of the sales process. Instead of concentrating their energy on another customer, they waste time searching for the latest version of the price list, checking product compatibility, or waiting for the approval of the necessary discount. CPQ can change all this.

All in one place, available for every team member

Imagine a situation where unnecessary extra tasks are not handed out. The fragmentation of information no longer concerns you, and the management has a perfect overview. Thanks to CPQ, control over current numbers and predictions is where you need it most – the team leader will see his team and its occupancy, and the management will see numbers for the entire company.

It will also be great if you are innovating products and the price list. The key is to correctly determine which product and which price is current or which product has replaced the original one. In the case of price modifications, like different installments, subscriptions, discounts, and more. The CPQ knows all the necessary data and can automatically pass the information on to specific departments for further processing. This will free up time for other projects, and the whole team will be more efficient and informed.

Take a look at what CPQ looks like in practice:

Wondering how CPQ could enrich your business? Sign up for a free webinar series starting on April 21 here or contact us, we will be happy to talk to you!

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