What Businesses Need CPQ Software?

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Configure, price, quote software, also known as CPQ software, can completely upend the way your brand’s quoting process works. Not only can CPQ platforms enhance efficiency but they also reduce manual errors and prevent pricing issues. When your sales team has to handle a wide assortment of quotes every day, it’s important to be able to streamline your operations.

However, it’s often difficult to tell if your business would directly benefit from CPQ tools. CPQ can streamline your sales process as long as you know how to use this complex product to your advantage. Here’s what you need to know.

Manufacturing brands benefit greatly from CPQ

Businesses Need CPQ Software

CPQ and the manufacturing industry work together remarkably well. Within the industry, projects move through a variety of sales reps, price quote specialists, decision-makers, and executives. To maintain project integrity and benefit your salespeople, it’s a good idea to use a CPQ solution. Depending on how a vendor leverages CPQ, it can greatly enhance the daily workflow and streamline the approval process. When you’re able to speed up custom quotes and attract buyers, you’re free to focus more on product configuration requirements.

CPQs can help a manufacturing brand generate accurate quotes, offer instant prices with variable options for discounts based on sellers, vendors, or buyers, and gain insights into complex quotes. Within the manufacturing industry, CPQ solutions touch on almost every facet of the sales process which is why the right CPQ tool is so beneficial for brand visibility. When you eliminate certain manual processes and introduce automation to your sales cycle, you’re able to greatly improve the customer experience.

Retail CPQ software allows for accurate quotes.

Leading CPQ software plays several unique roles that make it indispensable for the industry. With product configurations, CRM system integrations, and sales team tools, it’s easier to develop a streamlined sales pipeline. With a faster sales cycle, retail brands are capable of greater levels of growth and expansion. This empowers your sales staff and analysts while also making it easier to interpret analytics throughout the CPQ process. With all this information at your fingertips, it’s easier to make connections with your other software tools in meaningful ways.

Often, product integration is beneficial to CPQ solution performance. Ecommerce platforms, CRM platforms, and sales management software can work in tandem with configuring price quote productions to your retail business’s pricing information, inventory levels, revenue, and profits. You can even break this down into regional segments to give you a closer look at valuable customer data.

Service businesses can customize sales quotes from the go.

A major part of customer satisfaction with service and SaaS brands is their customizability. Since many of these operate on a subscription basis, it’s important to have the ability to quickly adjust and modify invoices. Without the appeal of a customized sales deck, it’s harder to attract customers, especially in competitive sectors like insurance and finance. You need to be able to generate useful invoices to meet a customer’s unique specifications. Essentially, you’re using configured products to state your value proposition to potential clients and prospects.

As such, you need to be able to do this as quickly or in less time than your competitors. CPQ market products enable this level of agility and flexibility. When you pair this with CRM insights, it’s easier to get a visual representation of your sales pipeline at work.

CPQ products can benefit brands in almost any industry. With these helpful toolkits, it’s easier to bill clients, set custom quotes, and develop workflow efficiency. From distributors to manufacturers, there’s no telling what a savvy CPQ integration can do for a company’s ongoing development and expansion.

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