The Advantages of CPQ
Updated: Sep 17, 2021
The advantages of using a CPQ solution? Depends on whom you’re asking! Let’s take a look from the following angles:
As a Sales Person
I have a tool that quickly guides me through all the products and services as well as the options they can have without making any errors in combining stuff that should or cannot be combined.
The solution always provides me with the latest products that are general available, including the correct pricing.
Even further, I do not have to search for contracts with customers that have customer-specific pricing and conditions, when selecting a customer to make a quote, the system automatically provides me with the correct pricing.
Drafting a good-looking proposal is so easy: I just need to select the pieces of text and the appropriate annexes such as e.g. technical product sheets to be included, hit the button and the system generates my offer. Even the e-mail to send the offer to the customer is pre-produced, I can still adapt if I want, but if there’s no need I can simply send it out in one click
As a Sales Manager
I am pretty sure that my team members will not grant discounts to their customers that do not comply with company rules. Each time a discount that exceeds the limit is proposed, I get a warning and am asked to approve (or disapprove If I feel so) the exception.
My team can concentrate on selling rather than on producing offers. A great advantage is that creating a new version or an alternative offer is so easy that we barely loose any time on it. Some companies adhere to the principle to propose customers multiple choices, so they feel in control, with a CPQ solution this hardly means extra work
When looking at pipeline, I have an integrated view on CRM and CPQ data, allowing me to follow up on key deals, commit and upside, with all possible details. I find all information in one place, don’t need to browse mailboxes to keep track of offers that have been sent or still need to be sent.
As a Company
I am very pleased with a tool that helps us get new sales people on track in no time. Less effort needs to be spent in explaining what the pricing rules are, what products can be combined, what services need to be sold in combination with what offerings etc. The CPQ solution guides my sales people while creating their offers. Of course, they still need to understand what our products and services are about, and why and where we differentiate from the competition, but they are up to speed way faster.
As the CPQ-solution prohibits people to make impossible combinations, our whole organization lives a lesser level of stress and frustration. Before, Sales and Production departments were always quarrelling about ‘those stupid sales that sold the impossible’ and ‘those pitiful production people who were not able to make what the customer wants’. Less frustration and happier people bring us faster to where we want to be: happy customers.
These are just a few of the advantages we hear our customers evoke when asked about why they like CPQ so much. Want to hear more? Or want to share your experience? Reach out!
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