How can Salesforce CPQ help businesses to streamline their quoting process?

As per a previously published sales report, sales representatives spend 34% of their total time in doing real sales while 66% of their remaining time in generating quotes, writing proposals, and getting approvals. In this fast-paced, dynamically enabled world, if sales reps spend around two-thirds of their time doing non-selling activities, it will certainly hamper business efficiency along with loss of opportunities. To boost revenue and to maximize opportunities, progressive organizations are using tools such as Salesforce CPQ.

 

CPQ (Configure-Price-Quote) solutions enable companies to provide accurate pricing with any given product configuration scenario. Implementation of these solutions eliminates boring and unproductive business processes while helping salespeople to offer a highly customized quote as per the mentioned specifications of the prospects. 

 

Leveraging the capabilities of Salesforce CPQ Experts, you easily automate highly-complex sales processes to increase the productivity and efficiency levels of sales teams. Salesforce CPQ comes packed with functionality like bundling of products & pricing blocks to make the life of sales reps easier. By implementing scenarios such as unit price goes down as total quantity goes up, in tiers, or applying product & price rules to automate your sales, Salesforce CPQ software enables sales reps to create quotes with greater accuracy.

 

CPQ software also helps in eliminating data silos. In an organization with different entities such as sales, service, finance, legal and more, CPQ ensures seamless communication during a sales cycle. By seamlessly integrating with siloed entities, CPQ makes the entire process smoother & standardized. 

 

As mentioned above, sales reps spend roughly 34% of their time doing actual sales related work. This wastage of time means reduced efficiency, minimized sales, and longer sales cycles. By bringing in CPQ, organizations can streamline the process so that sales reps should spend time in prospecting, meeting customers, or cold calling rather than wasting time in doing non-selling jobs.

 

Since Salesforce CPQ can integrate with your CRM, it will result in increased revenues and increased efficiency. Rather than toggling around pages of spreadsheets to find the correct pricing structure or risking errors by manually inputting information, sales representatives can quickly close more deals.

 

CPQ solutions help enterprises to get the most out of their sales deals. Salesforce CPQ leverages Einstein Analytics to deliver actionable insights to sales reps. Insights help salespeople to easily understand what works for them and where improvements are needed. Using customized dashboards, they can easily identify top customers, successful pricing models, and opportunities. Moreover, sales reps can track customer preferences to suggest the right mix of products and services to maximize cross-sell, up-sell opportunities, and get more clients.

 

By introducing Salesforce CPQ to your organization, you can transform bulky sales processes into lean. If implemented correctly, CPQ will help sales save time, increase quote accuracy, and land bigger deals. For smooth deployment of Salesforce CPQ, you should hire Salesforce CPQ Expert. With this, you can easily get a custom CPQ solution that meets your selling objectives. An expert can help you with product catalog development, promotions and discounting strategies, output documentation requirements, and approval or renewal process flow.