I found this great eBook from Salesforce, “CPQ Made Simple – A Guide to Configure, Price, Quote” that tells you everything you need to know about CPQ (Configure, Price, Quote). Below is an excerpt from the eBook that gives you six telltale signs that it’s time to switch from the traditional method of producing sales quotes to a CPQ tool.
1.You have someone who manually reviews all quotes
Having a person look over sales quotes to ensure accuracy for product configuration may work for the short term, but it’s not really a long-term solution. It just doesn’t scale. What happens when that person goes on vacation or gets sick? Will configuration approvals just stop? Can a temp be trained to take over? Not likely! Having a dedicated reviewer is not a long-term solution, especially since CPQ software can automate the process and improve accuracy and speed.
2.You are sending inaccurate sales quotes to prospects
Whether it has to do with incorrect pricing or incorrect configuration, sending out inaccurate quotes to prospects and customers is unacceptable. You’re just starting a relationship with this new customer, and you don’t want to start with embarrassing mistakes. These mistakes are not only avoidable, but can hit your bottom line.
3.You have plans to increase revenue
If your company is planning to grow over the next few years, then you are a prime candidate for CPQ software. As your business grows, so will the number of sales quotes you generate, and the amount of time your team will spend generating these quotes will also rise. You can free up extra time for your sales team with the use of CPQ software, which enables your reps to generate quotes quickly and accurately.
4.You are using Word or Excel to produce sales quotes
If you are using Word or Excel (or similar legacy software products) to configure products and create price quotes, it’s time to move on. By using these thirty-year-old tools to create quotes, you risk errors, waste time and produce non-standard sales documents.
5.Your sales team spends a lot of time on the road
Sales teams are increasingly mobile and tend to do a lot of work from hotels, airplanes, coffee shops, and wherever else they can find the time. They need the ability to generate accurate quotes and proposals anytime, anywhere, on any device. With a mobile CPQ app, sales teams can be more productive, more competitive and close more deals from their phones and tablets.
6.Your business is always looking for new ways to improve
Technology can help you run your business more efficiently and with greater accuracy. If your business is like most, you are already doing things faster, better and smarter than ever before. With CPQ software, you can apply this “smarter, better, faster” approach to the creation of sales quotes and proposals.
This is just the beginning of learning how CPQ can modernize your business to give you the competitive edge. So, if you want to learn more, please feel free to contact me at email@example.com.