Why do you need a CPQ for your business?
Time and again, CPQ software has proved their worth for business across industries. It has offered clear and accurate assistance to the sales team to automate quotes and design custom products. CPQ software has significantly impacted sales cycles and enriches customer experience.
Yes, that is fine, and everybody understands its uses. But does your business need a project cost estimation software?
We’ll answer your question but first, let us find out more about CPQ software.
What is a Configure, Price, Quote software?
CPQ (Configure, Price, Quote) software is a tool specifically designed to help companies make and present accurate sales quotes to prospective clients. It does this by monitoring variables and data fed into the system. It then prices products according to competitions, supply, costs and other factors. The sales team can then use the price listing made by the software and quote the customers the best price keeping the factors in mind. The makers develop CPQ software with a price engine that aid companies in keeping the price as per the present market environment. CPQ software is more of an automated sales quote generator that helps the sales team in selling products and services.
What benefits does CPQ software offer for your business?
Return of Investment
When companies use CPQ automation, they are making their quoting process, more comfortable, faster and inexpensive. The software removes sale cycle bottlenecks and allows the sales team to prepare an accurate report of product and cost to the customer. With tons of features in the software, it helps create flawless proposals, increase customer retention and shorten sales cycles. It results in higher ROI within months of usage.
Stronger channel partnership with higher profits
Today, companies are leveraging channel partnership to gain higher profits. And to do this, they are using CPQ software so that the channel sellers feel easier and profitable to represent them. To do so, they use CPQ software to administer and impose their pricing and discounts data among their partners.
Shorted sales cycles
CPQ software like Quick Devis makes your sales team’s job easy by automating most tasks. It connects everything through the mainframe so that all the process like proposal administration, data update and approvals become streamlined. The sales team can quickly check product pricing and send an approval request to the administration without wasting time. Since everything is connected through the mainframe, the administration can take a look at pricing and check progress in real-time.
Obtain extra revenue
It is a well-known fact that you can make more revenue from existing clients than from a new one. CPQ software uses its algorithm to study records and suggest up-sell or cross-sell for existing clients. Your sales team can use these suggestions to pitch new proposals to the clients.
Good impression matters
The business proposal your sales team sends to a customer is the first contact between your company and them. The chances of your sales team converting a lead dramatically depends on the impression your proposal creates on the client. With CPQ software, you can create standard proposal template that your sales team can use for all future leads. Hence, it will create a professional impression and the signature of your brand.
Conclusion
To ascertain if you need CPQ software for estimating and price analysis, discuss the matter with your sales team. You must take into account how they are performing and how much difference a CPQ software will make. There are several benefits of CPQ software, and you can make a considerable profit difference by using one.
