Configure Price Quote or CPQ solutions drive better revenue, profit, and overall customer satisfaction ratings by means of automating a business’ quote to order processes. Sales teams that use CPQ can rest assured that they are making the right pricing quotes for the right products and producing high-quality, professional branded contracts and proposals throughout each working cycle. CPQ’s benefits and impact go well beyond improving the performance of individual sales reps and teams, as its positive results resonate in all areas of business. Below are only some of the main benefits of implementing CPQ in your sales cycle:
- CPQ streamlines your sales processes, making it easier to do business with your company. When sales processes are too complex and convoluted, consumers tend to go elsewhere and choose competing businesses because of their better streamlined processes. CPQ makes your business more responsive and allows faster speed of delivery. A fast and easy process leads to a fast and easy decision for clients.
- CPQ shortens the sales cycle, allowing you to provide clients what they need when they need it. When customers ask for a quote, they usually mean now—not later. You’ve probably heard it before: time kills deals. The longer you make your client wait for a quote, the more opportunity you give for your rivals to snatch the deal out of your hands.
- CPQ increases deal values by giving you more opportunities to upsell. A faster quoting process also allows you more opportunities to make upsell suggestions throughout your quoting process, whether it is through the inclusion of higher margin items or additional recommendations and suggestions.
- CPQ solution improves productivity by enabling your sales reps and partners to make quotations on their own. The fewer people involved in the quoting process, the more efficient your team will be. CPQ gives your reps all the information they need to make correct quotations and shorten the approval process.
Author: The Knack Team
Short posts and insights shared by a group of Knack System’s SAP subject matter experts in the customer engagement, marketing, sales, commerce, and service space.