CPQ refers to Configure Price Quote software offered by Salesforce for the Sales team to provide them accurate pricing with any given product configuration scenario. Hosted within the Sales Cloud platform allows your sales team easy to use the software on any device due to make the most impactful sales decisions.
How does CPQ software work?
CPQ software allows sales teams to mark the challenges presented throughout each stage of the sales cycle with a combination of process automation, guided selling, and quote management. CPQ Software fills the gap that exists between CRM and ERP systems, allowing for a higher degree of interdepartmental collaboration and makes it possible to expand your stakeholder set.
How can CPQ solutions benefit your business?
- CPQ reduces wasted time: For sales organizations to be profitable, they need to work smarter and more efficiently. Salesforce CPQ is integrated with Salesforce CRM, the information sales teams need is available on their mobile devices.
- CPQ increases sales by providing accurate quotes: Spending time going back and forth on configurations and quotes because the information is missing wastes both the sales person’s and the buyer’s time, indirectly decreasing confidence in the company.
- CPQ speeds up the process: A faster sales process is key to the new landscape of selling. By speeding up the sales process, CPQ applications help sales organizations to reduce wasted time and protect more deals from stalling in the sales pipeline.
- Adding CPQ to CRM increases profitability: Adding CPQ to your existing CRM results in more profitability-both in increased revenues and increased efficiency. When companies augmented their core CRM functionality with additional tools such as CPQ to address specific problems, significant revenue increases were measured beyond the capability of CRM alone.
The bottom line.
To ensure a smooth deployment of Salesforce CPQ, IT and SMEs should oversee the customization of the rules and options for configuring. Once deployed, CPQ should be implemented with plenty of training and support for the sales staff, who will learn to use CPQ for upselling and cross-selling.
Combining Salesforce CPQ to existing Salesforce CRM Development Services defines sales as a process and help teams focus on maximizing time and resources, making the sales process efficient and lean.
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