What is CPQ software?
Configure price quote software (or CPQ software) is a sales tool or suite of tools designed to help organizations create accurate, personalized, targeted sales quotes. It accomplishes this by bringing together all of the available pricing and customer data in the form of a centralized platform accessible in real time. Salespersons can, at the click of a button, create and share sales quotes that are not only detailed and precise, but also tailored to the needs of the client.
How can CPQ software benefit your business?
CPQ software takes everything that your sales teams need to finalize their contracts, and places it directly at their fingertips. Here are five key advantages to implementing an effective CPQ solution for your company:
- Streamlined contract process
Your sales teams work hard to help leads reach the end of the sales pipeline. Having them fall away as a result of a slow moving sales quote process is nothing short of tragic. Configure price quote software streamlines the process, by ensuring that all vital data is ready and up to date as soon as you need it. When it comes to quoting an accurate price via CPQ, you’ll never have to use the phrase “Let me get back to you.”
- Improved Accuracy
You’re human, and humans make mistakes. Your business, on the other hand, is not human. And while your customers might be willing to forgive a minor error on your part, they won’t be so quick to overlook pricing errors made by your organization. A survey conducted by Ovum found that 76% of consumers stop doing business with a brand after only one bad customer experience. CPQ takes human error out of the equation, delivering accurate, dependable quotes every time.
- Personalized service
Your business doesn’t fit a cookie-cutter mold, and neither do your customers. With CPQ software, you can provide your clients with a quote designed for them as individuals — not as members of some theoretical target audience. When customers want to make adjustments to their purchase, when discounts are applicable, or when other factors come into play, sales representatives can create updated quotes in real time. This personalized service carries with it an analytics angle, as well. Over half of all customers are willing to share valuable personal data with companies that are willing to personalize sales quotes.
- Reduced timeframes
Perhaps the most obvious draw of configure price quote software is that it allows you and your clients to get the most out of your time. By automating the quote process, CPQ reduces the downtime normally associated with creating contracts. This makes it possible for sales reps to assist more leads in less time. According to Aberdeen Group Reports, organizations that use CPQ software see a 28% reduction in the length of their sales cycles, and 49% higher proposal volume per representative per month.
- Maximized sales
Taken together, these benefits lead to improved sales for businesses that invest in effective CPQ solutions. Industry wide, companies that use CPQ see an increase of 105% to their average deal size.
Salesforce CPQ can optimize your quote process.
Finding a CPQ solution that can streamline your sales process and improve your customer relations means relying on a provider that understands businesses and clients.
Salesforce CPQ takes advantage of the industry’s number-one CRM software, and uses it as a foundation to deliver unparalleled CPQ advantages. With Salesforce, you can go beyond standard configure price quote solutions. Automate quotes and invoices, collect payments, manage subscriptions, view and adjust terms, and generate reports all from a single tool. Additionally, Salesforce CPQ is completely cloud based and 100% mobile compatible. Salesforce CPQ is completely cloud based and 100% mobile compatible. All you need is a connected device and you're on your way to optimizing your sales process, closing deals faster, and maximizing your sales.
Get on the fast track, with Salesforce CPQ.
Nothing should hold you and your clients back. Salesforce CPQ gives you full control over the sales process, allowing you to keep the wheels of your business turning. After all, you and your customers have the same goal: to reach a deal that benefits everyone. Don’t let slow sales quote processes stand in the way. Put you and your clients on the fast track to success, with Salesforce CPQ.