Leveraging Salesforce CPQ to Boost the Quoting ProcessAdmin
Expecting your sales executives to dedicate more than 50% of their working time towards hanging on approvals, curating proposals and generating reports instead of actually closing deals is no longer a viable option. Executives face a number of obstacles on a day-to-day basis. Challenges like the number of misquotes, manual price reviews and approval downtime.
Companies experience a 17% higher lead conversion rate with CPQ software. It’s your one stop solution to assisting you sales reps in overcoming everyday hurdles. The CPQ model has been optimized over the years and now boasts a number of features such as integrations with Docusign, an extended interface allowing for use democratization, billing criteria, Einstein Analytics etc. All of which have contributed to streamlining sales processes significantly.
What Do We Mean by CPQ?
Configure, Price and Quote is the longform of CPQ and it allows sales executives to increase the quantity and speed by which they sell by automating the administration of quoting. By doing so your enterprise can understand the criteria listed below.
- The manner in which quotes can be conveyed to a lead
- The actual price of commodity in question and
- The exact item which the lead intends on purchasing
The configure aspect of CPQ stands for the process by which sales reps select the manufactured goods for the customer depending on what they require. Pricing entails assigning the most optimum discount and cost of each product. Finally quoting refers to the automatic generation of an email containing the quote and all other related details directly sent to the lead.
How Can CPQ Help?
Traditionally the process of finalizing a quote would mean sifting through long and complex spreadsheets while attempting to assign them to leads. The process was time-consuming, fraught with error and overall extremely expensive to oversee.
With CPQ in the mix your sales team can benefit from
- The speed that automation enables in closing deals and substituting manual processes
- The expanded control over operations as well as the ability to have a birds-eye view into them
- The ability to forecast accurately along with track and analyze data as well as
- The freedom to reimagine revenue models in a time where customers demand flexibility
Enterprises everywhere are looking for revised models of garnering revenue via
- Automating changes to contracts and renewals and
- Subscription policies
The true and lasting value of CPQ is in its capability to adapt instantly to work alongside more than hundreds of varied product configurations. When developers build on the customization abilities of their solution, sales teams can figure their personalized configurations quicker and contribute far more accurate quotes.
Interested to learn more about CPQ? This is just the beginning! At eConnect, we provide effective CPQ Development solutions to boast your business productivity. We are a team of highly experienced individuals who work dedicate to provide custom solutions for every business model
If you have any questions about CPQ, feel free to connect with our Salesforce experts at eConnect for a FREE CPQ consultation.