Perhaps one of the most powerful impacts of CPQ is it is developed once, and deployed multiple times. Its configuration rules not only work for salespeople, but can also be used for resellers, self-service, and even different devices.
Configure, Price, Quote software, otherwise called CPQ, is a sales solution that takes a significant burden off of sales teams and empowers them to focus on what they do best - develop relationships and sell your enterprise’s products.
Put simply, CPQ allows businesses to quickly and accurately generate complicated sales quotes. It centralizes all kinds of relevant data, like pricing, configurations, discounts, bulk orders, location, and other variables, and then automates that process.
With centralized, automated data, sales teams can create quotes easily, never worrying about whether or not they’ve captured every possible detail and customization, because CPQ handles that for them. This is critical for businesses, as 50% of sales time is wasted on unproductive prospecting and error correction, and sellers who are the first to produce an accurate, complete quote win the deal at least 60% of the time or more.
Thanks to this automation, CPQ streamlines workflows not only for sales teams, but for other business operations, too. The increase in efficiency translates to a decrease in business costs. When you combine this with the sales team’s ability to better focus on selling, a successful CPQ deployment results in significant revenue growth.
Additionally, the ease and accuracy of CPQ results in happier customers. Sales teams are not only focusing on providing superior customer service, but they also are able to do so more quickly than competitors, all without compromising the quality of the quote. Since a staggering 98% of consumers have been dissuaded from completing a purchase because of incomplete or incorrect content, speed combined with accuracy is deeply important for business success.
But perhaps one of the most powerful yet underrecognized impacts of CPQ is the ability to develop it once, and deploy it multiple times.
When an enterprise sets up its configuration rules, it of course designs them for its salespeople to utilize. But the beauty of CPQ is that those configurations can also be used for resellers, customers who want self-service options, and even for different device specifications. So whether someone needs to access quotes from a laptop, iPad, iPhone, or Android, your end users will be able to experience a responsive design that works across all devices, equipping them to access information anywhere.
This is critical for user adoption. All too often, enterprises invest in deploying new technologies, only to experience resistance from internal teams and a lack of adoption. By developing CPQ in a way that makes it simple - and extremely beneficial - for internal sellers to use, companies can circumvent this issue entirely, while still developing great user experiences for resellers or direct customers.
Not only does CPQ allow for different user experiences, but it also allows businesses to create experiences by channel. So, the user experience may need to be different on mobile vs. desktop, or for mobile insider seller vs. direct customer desktop. All of these variations can be accounted for in CPQ, through multiple deployments that only had to be configured one time.
Still not sure if CPQ is right for your enterprise, or how to begin assessing solutions? Reach out to the team of experts at Object Edge today.
