Due to manual workflows, many sales teams need help to achieve their desired work pace. Whether coordinating emails, calculating pricing models, or waiting for contract approval, these workflow bottlenecks can seriously affect productivity.
CPQ Increases Productivity
CPQ technology removes the burden of manually creating a sales quote and allows the sales team to focus on delivering the best possible experience to customers. This is critical in the digital era when buyers are more demanding than ever and expect companies to deliver on their promises of excellent service.
The CPQ pricing software can help the sales team create and validate accurate quotes quickly, with online visual aids and audit trails to ensure that quotes are up-to-date. This reduces the time needed to prepare and send quotes, increasing productivity by allowing salespeople to focus more on other aspects of the sales process, like developing well-guided selling processes and finding new ways to serve customers and grow their accounts.
Salespeople also have more time to identify cross-sell and up-sell opportunities because the CPQ solution will activate them based on customer segmentation and other parameters. This will allow the sales team to increase revenue without increasing costs and compromising customer service quality.
The CPQ system also helps the sales team meet customer requirements with its preprogrammed rules that determine viable product configurations. This eliminates conflict with customers and within the sales organization, reducing risk and improving sales team performance. It also makes it easier for the sales team to meet regulatory and compliance requirements with CPQ’s features, enabling them to track pricing compliance in real-time.
Sales Reps Can Focus on Closing Deals
A good CPQ tool should allow your sales team to generate quotes quickly without many manual calculations or spreadsheets. This allows them to deliver the right products and pricing to customers at the correct time, thus helping to close deals in a shorter sales cycle. In contrast, traditional quoting methods can involve complex spreadsheets and multiple systems for managing product catalogs and pricing information, creating a lag between the sales team and their customers. This leads to a greater risk of errors and delays in generating quotations, often resulting in sales representatives over-discounting products, which can lead to revenue loss.
With a CPQ system, sales reps can create accurate pricing and product configurations that reflect the latest customer conversations. It allows for more personalized functionality and helps them to build stronger relationships with their customers, increasing the likelihood of a customer saying “yes” to the deal.
Whether you want to improve your sales team’s productivity or ensure they deliver the best possible customer experience.
CPQ Boosts Customer Satisfaction
CPQ empowers sales teams to create more accurate and tailored quotes, leaving a lasting impression on customers. It can also help to drive upsell and cross-sell opportunities, increasing the profit potential of every sale.
When you implement a Salesforce CPQ solution, you can provide sales reps access to a centralized repository of product information. This eliminates the need to search through numerous systems to find up-to-date data and ensures all quotes are generated using the most current configurations, products, and pricing information. Moreover, you can streamline the sales process by integrating CPQ with CRM systems. This allows sales reps to directly access customer data from their preferred CRM system while configuring, pricing, and quoting the customer.
Sales reps must meet customer expectations while delivering on high-ticket sales quotas. Without a streamlined sales process, these high expectations can be met with frustration and costly mistakes. With a CPQ solution, sales teams can implement pricing controls and eliminate quota-related ambiguity that often causes them to pivot on price or offer discounts based on gut feeling rather than data.
CPQ Reduces Time Wastage
A sales rep can face many challenges when it comes to quoting. From not being sure of the right products to using old pricing models, they can risk wasting valuable time. As a result, they may need to meet their sales targets or even lose revenue for the company.
With the help of CPQ software, sales representatives can eliminate these errors and avoid wasted time. The software provides them with accurate quotes that consider the various options and discounts available to customers. Moreover, it also allows them to identify cross-selling and upselling opportunities. This can help them to increase customer satisfaction and boost their sales revenue.
The CPQ software can also improve the quoting process accuracy by automating it and ensuring that all the necessary information is included. This can reduce the number of errors during the process, which is a significant factor in boosting sales team productivity. It is important to remember that the CPQ system should be integrated with existing systems to work smoothly and efficiently. This can minimize the number of errors that occur during data migration. In addition, the CPQ solution should provide training and support to ensure that the entire organization is familiar with the new platform.