CPQ is a Configure, Price, and Quote software application that helps organisations streamline their sales processes by automating the creation of quotes and proposals. The software can be used to create both simple and complex quotes and can be customised to fit the specific needs of an organisation. In addition to simplifying the sales process, CPQ software can also help improve accuracy and consistency by ensuring that all quotes are generated using the same pricing rules and specifications.
Does My Business Need CPQ Software?
Statistics show that salespeople spend less than 36% of their time actually selling, and 18% using the CRM (Customer Relationship Management) platform. The rest of the time is spent on administrative tasks, such as generating quotes and estimates, chasing prospects, and seeking approval. This can be a frustrating and lengthy process when you don’t have a CPQ application in place. According to a study, CPQ users reported being able to generate quotes up to 10 times faster than traditional methods, and approvals were obtained 95% quicker than without CPQ.
As a result of implementing CPQ software, businesses can move from quote to cash twice as fast. In today’s competitive marketplace, a CPQ platform can give your business the edge it needs to close more deals and increase the productivity of your sales team.
Automated Solutions That Remove The Guesswork From Creating Quotes
CPQ software is an automated solution that takes the guesswork out of configuring, pricing and quoting products and services. By automating, centralising, and systematising the quoting process, businesses can quickly and accurately generate quotes for their customers. This saves time and ensures that customers receive accurate pricing information. In addition, the tool helps businesses to improve their margin by ensuring that they are not overpaying for materials or labour. This allows businesses to focus on providing their customers with the best possible service, rather than worrying about whether they are making a profit.
CPQ Works In Tandem With Other Tech Applications To Standardise The Process
CPQ applications are designed to streamline and standardise the sales process by automating repetitive tasks and providing a central repository for product information that can be accessed by your sales, marketing, and customer service teams. Most CPQ applications work in tandem with CRM platforms, ERP programs and other business technology to standardise the process. This integrated approach can provide a significant competitive advantage by reducing the time and effort required to generate accurate quotes and proposals, and avoiding duplicated effort.
Getting The Right CPQ Application For Your Business
In order to find the right CPQ software for your business, it’s important to understand the different features and options available. There are several CPQ providers on the market, each with relative strengths and weaknesses, and sets of tools designed for specific industries.
We generally recommend a multipurpose application with a wide range of tools that can be configured to the needs of different sectors. QuoteWerks, in particular, stands out in the market as an easy-to-use and reliable application that quickly generates customisable quotes and estimates, and integrates with a wide variety of third-party applications.
Find Out More
At Quintadena, we specialise in implementing CPQ software solutions for sales-focused businesses, working with leading software vendors to provide a bespoke solution for each customer. To find out more, please call 0121 669 1111 today.
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