Quickly generating high-quality quotes is a big challenge for most businesses. It's not just about efficiency - it's also about quality, margin, and customer experience.
Having worked through configure price quote (CPQ) projects with a number of clients brings the old "Six Million Dollar Man" TV series to mind. Quotes are badly broken. "We can rebuild them. We have the technology. We can make them better than they were. Better, stronger, faster."
Let's take a look at three ways that a CPQ solution can make your sales team better, stronger, and faster. At the end of the article, I'll share a downloadable CPQ ROI Calculator.
Creating a quote often requires a great deal of expertise. Expertise in areas like your company's products, financials, engineering, grammar, knowing where the current (and correct) template is, and more.
All of these people interacting to create a quote leaves a lot of room for mistakes, and fixing mistakes costs time. Financial mistakes erode margins and makes that one "slip through" result in lost deals.
A CPQ solution enables your reps to deliver accurate quotes every time.
Nothing is more frustrating to a customer than an uninformed sales rep. But in many organizations, reps often function as gatekeepers to the behind-the-scenes experts who are required in order to configure a quote for the end customer.
Let's say a customer talks to a sales rep from one company and is constantly told, "Let me talk to the experts about this and get back to you." Then, the same customer contacts a rep from another company who says, "Let me ask you some quick questions, so I can get you a quote in a few minutes." Which rep do you think is going to win that customer’s loyalty?
Sales reps who are experts in what they're selling don't just win more deals and more loyalty (repeat deals); they also command higher margins.
A CPQ solution can transform reps from bottlenecks to instant experts by building in key questions, rules, templates and automation.
Click here to download the CPQ ROI Calculator.
Here's a quick glance of what the CPQ ROI calculator does for you:
Click here to learn more about the Cincom CPQSync™ solution.
The complementary paper includes over 12 years of research, recent survey results, and CRM turnaround success stories.
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Learn how you rank compared to organizations typically in years 1 to 5 of implementation - and which areas to focus on to improve.
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