Having a configure, price, and quote system can automate and speed up the sales cycle of your business and improve customer relationship management. It can be challenging to choose a right CPQ solution and implement it on your own, but working with an experienced consulting partner should make it easier. A cloud-based CPQ solution can be customized according to the needs of your business, so you can be sure that it can effectively enhance sales in your manufacturing business. Once you find the right cloud-based CPQ, your business should be able to experience the following benefits:
- Generate proposals and identify sales leadsWith cloud-based CPQ, your business can minimize the time it usually takes to learn a new software or application, so your staff can focus on selling, while making sure that proposals and quotes are accurate. At the same time, it lets you identify better sales leads and create proposals, which are appropriate for them.
- Improve customer satisfactionCloud-based CPQ can be the solution to gain new customers while making sure that your business can improve the satisfaction of both new and existing customers. It can provide analytics to map product and services, and selling strategies, so you can identify and understand what those customers want and expect. This way, you can provide a more customized selling experience.
- Increase revenueA sales performance optimization study conducted in 2015 discovered that investing in a solution to improve the performance of the sales team may increase the company revenues by up to 10 percent. Investing in a cloud-based CPQ, which is designed with your business strategies, priorities, and goals in mind, should help improve revenue performance.Most companies have objectives and goals that are centered on increasing revenues, maintaining and growing margins, reducing costs to collect and accounts receivables, effective use of assets, and reduced sales costs. Streamlining CPQ with a cloud-based solution should improve sales effectiveness and deliver outcomes that can make the business more profitable to tighten the revenue pipelines.
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.