Today, the lead-to-cash process has become intensely competitive and complicated across a wide range of industries and organizations. Manual processes are quickly becoming outgrown, outdated, and difficult to maintain. On top of this, you have thousands of competitors who are also quoting for the business of your potential customers. If your competitors are making quick and impressive quotes while your sales reps follow a cumbersome process to configure a quote, you could lose customers.

According to Gartner, the broader customer experience and relationship management market of which Configure, Price, and Quote are a part, grew by 15.5 percent in 2017 to $421.1 billion to make it the largest software market. CPQ (Configure, Price, Quote) solutions address this exponentially and directly by automating pricing approval and configuration validation processes.

So let’s see how CPQ solutions can help you close deals faster and transform your business in countless ways.

Create Quotes Efficiently And Easily

The otherwise-complicated process of quote management becomes an integral part of your sales process by integrating the solution with your customer relationship management (CRM) process. You can easily add discounts, pick & choose products and prices, and get automatic updates of all functionalities and amounts without even leaving your CRM system. The best thing is that you can create alternative quotes and even update or edit the proposals created by you throughout the sales process until you have reached the desired outcome.

Deliver Professional And Accurate Quotes The First Time

The business proposals created by your sales team influence – directly and heavily – how customers perceive your brand. However, it is not easy for each rep to generate proposals in the same format. Comes CPQ to the rescue! It helps you standardize the sales proposals and you gain complete and uninterrupted access to the appearance and content of the proposals. This, in turn, helps your reps make professional and cohesive impressions before customers.

More Collaboration To Wash Away Silos

The effects of CPQ on efficiency are far-reaching which helps in making accurate and faster quotes. When done right, CPQ implementation helps the entire organization to get involved so that subject matter experts from different departments within the organization to recommend configurations and options that may have been otherwise overlooked by the sales reps. Everyone wins when cross-functional teams work in harmony as the product becomes more customer-centered and solution-oriented than ever before.

Spend More Time On Selling

The average sales reps only spend around 22 percent of his time selling. CPQ software can streamline and automate different tasks by syncing with your sales and marketing software. This, in turn, eliminates the need of your sales team to redefine and reinvent the wheel. In other words, the sales reps will spend more time out selling and closing more deals and less time in the office.

Improve Margin

An automated process facilitated by CPQ takes out the ‘gut feel’ and the guesswork of pricing competitively. In parallel to this, it maintains margin when reps configure products or services and bundle the price.

Reps tend to price on gut feel if they don’t have sufficient data to make informed decisions. It is a commonly-known fact that gut feelings usually lead to giving away the business due to fear of losing out on a possible deal. The right CPQ tool helps sales reps access accurate and updated guidance based on reliable and comprehensive data. It also helps reps provide more accurate and faster quotes while also eliminating errors that would otherwise cause lost opportunities.

Get Updates And Accurate Forecasting

Your organization can benefit from automatically updated sales forecast by integrating the Configure, Price, Quote solutions even when alternative quotes are to be created. This helps sales managers get the correct sales forecast. Conversely, it helps sales reps avoid the process of manually updating their sales forecast. All in all, it is a win-win situation for everyone!

Access the best CPQ Consulting Services by choosing Cloud Integrate as your preferred partner. Transform your business operating by reaping the innumerable advantages of CPQ solutions.