In today’s time, sales reps spend about 66% of their time getting approval rather than focusing solely on quotation marks, proposal writing, and closing deals. This is where CPQ software helps sales reps to be automated and streamlined by business process management practices and to emerge as the best solution. By using CPQ software, organisations can change their ability to streamline sales operations and cite efficiency.
Configure Price Quote (CPQ) is a sales cloud tool available in Salesforce that allows your business to eliminate the inefficient processes in the medium of providing accurate sales quotes to your customer. This process usually takes place during different stages of sales. The quotes generated are sales quotes generated on time, free of any errors and proven to be individual to your customer’s specific situation (bundle offers, volume discounts, special promotions, price slab based discounts, etc.).
What is CPQ?
CPQ stands for Configuration, Price and Quote. CPQ software helps in creating a standardized sales process for your organization as well as expanding your customer relationship management platform (CRM). It also makes the overall sales process easier, faster and more organized.
Configured Price Quote (CPQ) is a powerful, user-friendly selling tool that helps you perform your administrative tasks in a short time and also shortens the sales process. This allows businesses to improve their response times, increase sales win rate, and drive overall revenue growth.
Mostly People Use CPQ Software
When it comes to the final stages of their sales cycle, many sales teams rely on spreadsheets and emails to track sales, customer data, and create reports. Instead of moving on to their next deal, they can waste most of their time on non-productive activities such as creating prospects, selling services and products, submitting offers and scheduling appointments.
With Salesforce CPQ (Configure, Price and Quote), businesses can quickly configure products, price orders, and save valuable time with fast and accurate quotes. One of the most important benefits of CPQ is the ability to make life easier for sales reps. In addition, it automates a highly complex sales process to increase the level of productivity and efficiency of sales teams.
Salesforce CPQ helps you more accurately quote the full potential of Salesforce Sales Cloud capabilities, close deals faster, and speed up the order-to-delivery process. So if your reps are still spending most of their time on repetitive, manual tasks such as putting up spreadsheets and entering prices and sales in order management, then this is for your business like CPQ software and Salesforce CPQs like Quote-to-Cash It is time to invest in solutions.
Beneficial Ways of Salesforce CPQ
Salesforce CPQ proves to be amazingly beneficial when it comes to dealing with customer pain points, which mainly include subscription products, volume discounts, and product bundles. Whether you are running an organization of ten or a Fortune 500 venture, if the above points are the biggest pain points for your business, then implementing Salesforce CPQ software would be an effective solution. This software can benefit your sales teams and the overall organization in many ways.
Let’s discuss some of the most amazing benefits of Salesforce CPQ, which is:
- Improving Accuracy and Promoting Sales Performance
Here, you can solve the toughest business challenges by streamlining and automating your organization’s comprehensive pricing strategy and execution lifecycle, using Salesforce CPQ.
- Quickly Build Quotes and Proposals
Salesforce CPQ has a good collection of excellent templates that prove to be capable of enabling you to integrate your sales process with various applications and software. Which increases sales profitability and helps you make better and more informed business decisions.
- Increase Deal Size/Up-Sell & Cross-Sell
Salesforce CPQ tracks your customer preferences periodically and suggests the right mix of products and services. It helps salespersons cross-sell, up-sell, get more clients and build your customer base.
- Eliminate Error in Pricing and Contracts
Salesforce CPQ takes you through the process step by step and trains sales reps throughout the process. This tool gives all information about policy and price changes, thus improving accuracy.
- Guide Selling
The sales process can be simplified and optimized with the help of Salesforce guided sales. Directed sales are an exciting feature that allows sales reps to enter the information gathered from prospects into one tool and generate an optimal product package based on unique needs.
If you want to know how Cloud Analytics, a Salesforce Silver Consulting Partner, helps execute custom CPQ solutions that support sales objectives, product catalog development requirements, promotional and discount strategies, output documentation requirements and approval or renewal process flows Contact the Salesforce CPQ Specialist if you are a partner.
Moreover, if you have questions about CPQ solutions and you want to know, how can the Salesforce CPQ help you grow your business? Contact our Salesforce consulting experts today.