What is CPQ and why should I care?

What is CPQ and why should I care?

By Jeff Da Silva, Business Solution Architect at Nubik

It happens too often; the end of the sales process becomes complicated thanks to internal verifications, team responsibilities, product complexities, you name it. All of it simply causes many prospects to drop off before a deal is done. Even if it does get closed because it was a “critical client”, it usually leaves behind a trail of errors and requires subsequent amendments that can prove costly to manage. How can this be fixed?

Rather than losing your prospects’ interest, or paying for rushed processes that deserve diligence, you can actually close more deals accurately and recognize revenue more quickly with a solution like Salesforce CPQ.

While the list of benefits can sound interesting, you may be wary at the thought of overhauling any of your systems in order to introduce a CPQ application. Don’t worry! A quick explore into Salesforce CPQ to discover whether or not it’s the right solution for your business starts with an easy read below.

WHAT IS CPQ AND WHY SHOULD I CARE?

The abbreviation is short for Configure-Price-Quote and describes a scalable software solution designed to help various types of businesses create and share accurate price quotes quickly and easily. An ideal CPQ solution streamlines the entire contracting process, allowing sales reps to do some of the following things:

Create multiple quotes quickly and efficiently
Track prospect and customer information within your CRM
Tailor contracts and sales quotes to individual customers
Make better-informed decisions around special pricing, discounts, and terms
Eliminate user error by drawing from reliable data sources to auto-populate fields

DO I NEED CPQ SOFTWARE?

The final stage of the sales process is often slow and tedious as the end gets near. Prospects get tired of the constant back and forth, which sometimes causes them to lose interest in the product altogether, or we just end up missing the timing window. The opportunity is lost. A strong CPQ process can keep track of all formal considerations for details on your quotes and yet make it easier to move forward quickly. It helps eliminate errors and issues for your reps, who can use CPQ software to close their deals efficiently and accurately.

Solutions like Salesforce CPQ can also integrate with various systems when key information is required for product data, financial data, or any other transactional reference.

>> Complementary reading : How to simplify complex sales with Salesforce CPQ <<

WHY CHOOSE SALESFORCE CPQ?

Of the many CPQ solutions available on the market today, Salesforce CPQ is the most trusted by users and is designed to be very customer centric. In many CPQ software comparisons, customer satisfaction and rankings, Salesforce is in the lead, earning higher scores than any other CPQ provider.

Salesforce CPQ is a complete solution, providing reps with automated tools to generate accurate quotes, error-free contracts, and professional proposals. Its streamlined billing and revenue features can help collect payments, manage subscriptions and account for the revenue earned. In addition, it can scale to accommodate changing product assortments, bundle management, or pricing changes/differences.

When it comes to implementation, to get your team on board quickly, you can take on the journey or seek the counsel of a partner that has already walked that trail before you. At NUBIK, our team of Solution Architects and Product Specialists have devised strategies and plans that deliver awesome results; they have walked the trail and have acquired the confidence and knowledge to know which way to go in order to get CPG working for you.

With the help of our experts, you can expect an easy trail map for your implementation process, so you can enjoy the benefits of Salesforce CPQ sooner than you might think. We will also ensure that you can see where the trail might lead you in the future, and therefore help you become a trailblazer yourself. Reach out to us today for more information.

ELIMINATE INEFFICIENCIES WITH SALESFORCE CPQ

 

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