Features of CPQ Software for Your Business
Configure price quote software (or CPQ software) is a sales tool or suite of tools designed to help organizations create accurate, personalized, targeted sales quotes
Streamlined contract process
Configure price quote software streamlines the process, by ensuring that all vital data is ready and up to date as soon as you need it.
Improved Accuracy
CPQ takes human error out of the equation, delivering accurate, dependable quotes every time..
Personalized service & Reduced timeframes
By automating the quote process, CPQ reduces the downtime normally associated with creating contracts. This makes it possible for sales reps to assist more leads in less time.
Maximized sales
Taken together, these benefits lead to improved sales for businesses that invest in effective CPQ solutions.
The Soham Technologies Guarantees
The benefits of CPQ software include formalizing rules and pricing, establishing standardization across the company, and increasing company wide efficiency. The most important benefit of CPQ is the proven increase in revenues and decrease in costs
Use Of CPQ
Using CPQ applications allows sales organizations to focus on selling and replicating best sales practices rather than constantly retraining sales staff. CPQ users also report increased sales rep retentions. When delivering quotes and closing sales becomes an effortless process, sales professionals success grows and with it, the bottom line grows as well.
CPQ increases sales staff efficiency & Time
Making great calls is possible through CRM applications that allow in depth research and note taking capabilities for clients. Having access to sales enablement documents and information helps lead the customer through their sales journey while showing your company as a thought leader and trusted advisor in the field.
Configure, Price, Quote = Increased Revenue
When it comes time for the sale, CPQ software helps make the seamless transition from sales journey to decision. A CPQ software allows salespeople to accurately configure products, apply pricing and quantity discounts and have approvals already programed into the system. This automation allows you to look like a pro, giving customers confidence in your processes.
Shorten the sales cycle through guided selling : Salesforce CPQ leverages guided selling, a unique step-by-step process that coaches the sales representatives throughout the CPQ process. This feature is specifically useful for new hires and reps that come from outside the industry. You can generate a set of questions that allows your sales reps for keying in customer data. Based on the responses, it enables them to prepare more accurate quotes with improved order accuracy.
Maximize Sales with Intelligent Quotes : Salesforce CPQ facilitates process automation, right from invoice creation to the final process. With next-gen features like Salesforce Einstein Artificial Intelligence application, built into the platform, companies can build logic to predict if specific payment processes require certain milestones or more aggressive collection practices. The CPQ tool also allows enterprises to use additional intelligence to adjust pricing in accordance with external factors, like competitor pricing and others.
Proposal generation tools providing automated quoting : If you aren’t using CPQ to generate quotes and contracts, you are missing out on a serious time-saving productivity booster. It enables you to create professional branded proposals using highly customizable templates to slickly make the documents look the way you want them to be.
Deal profitability analysis : Salesforce CPQ enables you to ensure that your Sales deals are profitable by helping you analyze sales pipelines and perform deal profitability analysis and more, so you can deliver only commercially viable and profitable quotes through streamlined processes.
Increased Accuracy : Salesforce CPQ enables sales reps to quickly create quotes with high accuracy. Accurate pricing and discounting are ensured, and approvals are automatically routed whenever necessary. CPQ then generates an accurate quote document, includes the right collaterals by default and then integrates then with eSignature partners for a seamless buying experience.
Increase deal values : The key goal of Salesforce CPQ software is to enable companies to increase their sales and profitability. Salesforce CPQ materializes this goal with its powerful features and unmatched performance. A Salesforce report reveals that companies that implement Salesforce CPQ software increase their average deal size by a staggering 105%.
Enhanced Efficiency and Productivity : CPQ enables you to drastically reduce errors and contract lead time and personalize your sales quotes in a more streamlined process. Quotes are performed real-time with high accuracy, avoiding the need to go back and forth with clients to ensure that the sales process continues smoothly and builds the momentum you have created in your meetings. With Salesforce CPQ solutions, if your client is ready to close a deal, you will be too!
Contract negotiation : When sales reps create contracts, they can use quote line prices from the original quote on future quotes within the contract’s account. The contracted pricing process is useful when your sales reps have negotiated a price for a product and want to continue using the same price after creating a contract. Salesforce CPQ software uses that negotiated price on new quotes, renewal quotes & amendment quotes.