In today’s highly digitized and fast-moving world, generating sales is not an easy task. If an organization is handling higher-value services or products, then selling them becomes way more complex.
The sales team must possess adequate knowledge of the product to carve out a perfect quote to convert leads into effective sales.
However, the sales representatives are spending too much of their time on non-selling tasks, which not only hamper the business but also cause lost opportunities.
A large number of organizations are still motivating their team to manage their sales processes manually, and that is why they face the following challenges :
- Less focus on sales activities
- Inefficient time management
- Lack of effective analysis for decision making
- Old school pricing methods
- Underutilization of CRM
The conventional sales methods are very time-consuming and indeed they deteriorate the sales prospects instead of improving them.
Here Salesforce CPQ software comes as a big boon for organizations as it offers a modern solution to tackle the sales and quoting challenges. Salesforce CPQ can fortify your sales processes and give you an edge to outclass your competitors.
What is Salesforce CPQ?
Salesforce CPQ stands for Configure, Price, and Quote. It is a top CPQ software that acts as an extension of your existing CRM (Customer Relationship Management) solution to develop a streamlined sales process for your organization.
It makes your overall sales process faster, organized, and easier.
It is a top CPQ software, that is known for its user-friendliness and robustness and reduces repetitive administrative functions so that your sales team can stay focused on core sales tasks. It enables your organization to enhance sales win rates, reduce response times, and drive better revenue.
Salesforce CPQ software allows you to leverage the potential of the Salesforce Sales Cloud solution to place accurate quotes, close deals easily, and fasten up the order-to-delivery function. If you are still employing conventional sales methods and your representatives are performing repetitive and manual tasks, using legacy software to handle order management and analysis, then it is the right time to invest in quote-to-cash solutions like Salesforce CPQ.
Features of Salesforce CPQ
Salesforce CPQ comes with loads of innovative features, that can help your organization to unearth its potential to improve sales and revenue.
Seamless Configuration of Products –
Sometimes it is required to tweak your products, and offer them in bundles to make the selling easier. However, it needs better configuration capabilities to perform these functions.
Salesforce CPQ equips sales reps to configure the product and service bundles so that organizations can pitch customized offerings to please their customers.
Get in-depth insights from Analytics –
Salesforce CPQ offers brilliant capabilities to perform analytics on pricing, quotes, and subscription. It allows sales reps to identify the hindrances in the quoting process, and use Artificial Intelligence to fetch in-depth insights to improve the overall sales cycle.
It gives real-time insights on Key performance indicators, that helps organizations to make any course correction.
Avail Discounts –
To negotiate a sales deal, you must offer discounts you are your customers cannot resist. Salesforce CPQ offers numerous methods to manage and automate quotes and apply discounts on products and services.
It offers basic discounting and allows your sales reps to implement predefined discounts to cater to any specific use case.
Customer Lifecycle Automation –
Salesforce CPQ can easily automate your entire order management and payment. CPQ can use parameters such as time and location not segregate sales quotes into multiple orders.
It reduces manual tasks and streamlines electronic payments to save precious time for your organization.
Contracts and Quote Renewals –
Salesforce CPQ streamlines the process of contract creation and renewals, which comes as a big advantage for the sales team.
It also enables you to create a subscription-based contract, that lasts for a specific period of the subscription. It helps your organization to tap a wider range of prospective customers.
Reasons to Integrate Salesforce CPQ software
Salesforce CPQ is unarguably the best CPQ solution in the market. In a very less time, it has proved its worth for startups and middle-sized organizations, that can leverage its capabilities to transform their sales processes.
Here we have listed some important reasons, that must be considered before integrating Salesforce CPQ into your organization.
Enhanced accuracy to improve sales performance –
Salesforce CPQ enables your organization to resolve complex business challenges by automating and simplifying a comprehensive pricing planning and execution lifecycle.
Easier quote and proposal creation –
Salesforce CPQ is equipped with simplified yet effective templates that help you to integrate various 3rd party applications with your sales process. It helps you to make informed decisions to improve profitability.
Advanced Approvals:
It allows you to customize and automate the complex approval workflow by configuring pre-defined approval paths.
This enables your sales team to close the deals rapidly, as they do not have to wait for approvals unnecessarily.
Enhance Up-selling and Cross-selling –
Salesforce CPQ helps you to observe your consumer preferences and recommend the right mix of services and products.
This improves your cross-selling and up-selling potential, as you can get more clients and increase your customer base.
Guided Selling –
Salesforce CPQ optimizes and simplifies the overall selling process with its guided selling capabilities.
Guided selling allows sales representatives to feed the information fetched from prospects into CPQ software and immediately produce ideal product packages based on unique user requirements.
MDQ (Multi-Dimensional Quoting) –
With MDQ, you can create personalized and flexible subscription packages for different segments of time. If you have a product or service that is sold in the yearly segments, then Salesforce CPQ eliminates the requirement of adding multiple quote lines for each segment.
It makes it easy for your sales reps to offer multiple subscriptions for a specific service, while your customers will be satisfied with the wider range of options.
Eradicate Pricing and Contract-specific errors –
Salesforce CPQ walks you through a step-by-step process to train your sales representative and ensure they are very well versed with all the nitty-gritty of your sales workflow.
It is equipped with adequate information about price changes and other policies, thus improving overall accuracy.
Salesforce CPQ – Final Words
It is a top CPQ software that provides state-of-the-art quotes to cash solutions for numerous industries. It offers important advantages such as quote management, discount implementation, product configurations, and in-depth insight based on AI analytics.
It allows organizations to create accurate sales quotes, automate the sales process, and enhance the bottom line to transform the overall workflow.
Arak Softwares, a Salesforce Consulting Partner, can certainly assist you to implement a highly customized CPQ solution that can help you manage your sales target needs, product catalog requirements, discount, and promotional strategies, and renewal process flow.
If you are planning to integrate Salesforce CPQ, then kindly get in touch with our experienced Salesforce CPQ consultants now.
