The world of business to business selling is complex. Bigger quotas, complex product offerings, and large portfolios often overwhelm sales teams. As a result, they struggle to deliver what buyers are looking for—fast and personalized experience.
CPQ (configure, price, quote) software and other sales technologies are changing the game for organizations. CPQ solutions, in particular, enable salespeople to get a quote into the customer’s hands quickly through a quote-to-cash platform. The tool decisively changes the game since it gives sales teams all the functionalities they need right from their CRM (customer relationship management) tool.
So, what are the things to consider when planning to work with CPQ software? Check them out below.
It’s not difficult to install a quote software solution for your business. All you need to do is go online and find a company that will provide you with the software that you need. You’ll have to install the software yourself or, if you don’t want to deal with installing software, you can always opt to buy it pre-configured for your business. When you have the software, you can simply enter the details about your business and, then, click the ‘configure’ button. This will take some time, but, after that, all you need to do is sit back and relax as it will take care of the rest. It will calculate the price and compare it against the competitors for you.
2. Data Management
The software provides data management solutions by organizing various fields of information. All these fields can be stored either as file names or in a database. It helps in ensuring that your sales team members are able to access any information that they need. The software has a number of features, which include the ability to create templates, the ability to add, edit, and delete files, the ability to organize information, the ability to create reports, as well as the ability to print reports. Some of these features are very useful in helping improve the productivity of your sales team and in improving the quality of data that you’re providing to them.
3. Marketing Budget
The software can help in the management of marketing and advertising expenses as well. With the software, business owners can have a better understanding of what their costs are with regard to both traditional and digital marketing. In order to do this, they need to keep track of where their marketing budget has gone and, then, determine where it should be redirected. Also, it’s important to make sure that the marketing dollars are used to produce more sales rather than spending them on other advertising initiatives.
Configure, price, quote software allows companies to easily manage their inventory and make sure that their products or services are in stock. It’s crucial to keeping a company competitive in the marketplace. It can also help the company keep track of how many products they have to sell to stay ahead of the competition.
5. Cloud-Based Integration
In order to start using CPQ software, you’ll need to register and create an account. Once you’ve successfully done that, you can, then, choose the type of software that you’d like to use. This can either be a standalone or an integrated system. The latter, of course, is very convenient for those who wish to be able to manage their quotes without having to download and install anything else. In some cases, the quotes are sent through the cloud. It makes it very convenient for everyone involved, especially if your company relies on an Internet connection to carry out business processes.
The CPQ solution can be used in a variety of different ways. Some businesses use it as a standalone system, or they combine it with other applications. For instance, some companies create software modules for automatic inventory control, service planning and control, and other product functionalities.
Other businesses use the software in combination with other application programs. For example, some business owners will use CPQ along with other programs, such as Microsoft Dynamics GP and CRM, to track customer and sales activity, as well as to provide a database for sales leads and orders. The advantage of using these programs is that you can create multiple applications, which are, then, seamlessly combined with each other.
One of the best things about CPQ software is that it’s easy to understand. In fact, you won’t have to go through any complicated technical terms when you’re using it because the software will do that for you. If you want to get more information on how it works, you can always consult the official website of the provider or go straight to their customer support center. For more sophisticated businesses, this software is the perfect solution since they can use the quote software for any purpose.