According to a study by Salesforce, 66% of clients switch to other brands if they are treated like a number instead of an individual.
The above-given percentage shows the importance of sales quotes. In running a business, sales play an unparalleled role, where an optimized sales process can do wonders while others lead to severe loss.
To effectively address this issue, we are here today to introduce you with one of its kind Salesforce tools, and it is called Configure Price Quote, popularly known as (CPQ).
What is CPQ and How It is Helpful for Businesses?
The sales representatives who are following the traditional sales process invest merely 34% of their energy in actual sales work, and the remaining 66% of their time, they generate quotes, proposals, and approvals.
It means that sales representatives spend near 66% of their time without selling. It is so not a favorable situation for effective business growth, plus it will also lead to the loss of multiple beneficial opportunities.
To improve the sales team’s productivity and enable them to generate greater revenue comes Salesforce CPQ software.
Configure, Price, and Quote Software – CPQ?
CPQ is a suite of sales tools, which is designed to enable companies to develop accurate, personalized, targeted sales quotes. The tool enables sales representatives to move ahead at the right speed in a streamlined process including, the final step i.e. contract.
This tool brings all the available pricing and customer data at a centralized platform and makes it accessible in real-time.
Features of CPQ That Make It a Perfect Choice for Business
The below mentioned features will help you understand what is Salesforce CPQ.
- The one-click create and share of precise & detailed sales quotes
- Enable sales reps to develop tailor-made sales quotes.
- Enable the sales team to quote quickly.
- It eliminates human errors & drives rapid growth.
- Let the sales team create a personalized sales experience for each client.
- Efficient in eliminating the extra time that makes the sales process unproductive.
- With CPQ, sales representatives can create highly customized quotes according to the prospects’ specifications, such as special offers, bulk discounts, varied price slabs, etc.
How Salesforce can Increase Business Sales?
In the technology-driven age, it is imperative for businesses to smooth their sales process by adopting technologically advanced tools, which enhance the efficiency of the sales team, and improves business income.
Here Salesforce CPQ implementation services can be a boon for you. Below we will discuss how to improve business sales using Salesforce CPQ.
Improved Selling Time
The Salesforce CPQ is a foremost choice for businesses who want their business sales to surge high. With the help of this tool, the sales team can easily make a rapid decision even of the complex requirements.
CPQ brings automation in the process and eliminates the need for sales representatives to invest hours on unnecessary works like drafting contracts, checking, and double-checking the accuracy.
With Salesforce CPQ, your sales team can spend more time selling, enhancing quotes’ accuracy & its’ propositions.
Optimized Contract Process
The sales team leaves no stone unturned in bringing the leads to their final destination and completing the sales cycle. There often comes a time when in the absence of a proper tool or solution sales cycle breaks just before it reaches its final stage. It’s tragic, isn’t it?
To avoid such a situation, Salesforce brings CPQ software that optimizes the contract process and ensures that all the important data is ready to use whenever you require it.
The Salesforce billing software will lower down the chances of mistakes through its automation.
Improved Revenue
According to a study by Salesforce, 76% of customers switch to other brands after only one bad customer experience. Thus, it will lead to lower sales and smaller revenue.
CPQ, on the contrary, enables businesses to reap the benefits of their sales prospects by checking the sales pipelines and deals profitability. It will facilitate financial effectiveness & reasonable sales quotes through an automated smooth process.
When CPQ works with technology like Einstein Analytics, it will open the doors for you to leverage boosting income with actionable insights. CPQ with Einstein Analytics provides a custom dashboard through which salespeople can identify top clients, multiple opportunities, and effective pricing models.
Enhanced Accuracy
The first thing that comes with the Salesforce CPQ integration service is process automation. And with automation, you can also leverage accuracy.
Customers often overlook some minor mistakes, but when it comes to pricing, they won’t be generous to overlook the pricing errors made by your organization.
With Salesforce CPQ software by your side, you can effectively integrate different aspects of the sales cycle such as service, sales, finance, and renewals, to name a few. The strong automation power of CPQ billing software avoids errors before they happen and enables you to create accurate & dependable quotes.
Personalized Service
All the customers have their own set of requirements, and with Salesforce billing or CPQ software, your sales reps can offer personalized quotes, which are designed for them as per their individualistic requirements.
CPQ allows salespeople real-time accessibility to the quotes, wherein they can make any changes, put discounts (if applicable), and perform other tasks as and when required.
The personalized sales quote service helps businesses to improve their marketing and analytics operations.
Short Sales Cycle
Customers want to return to a business that works fast and avoids delay in the sales cycle. A company, which takes time in configuring and generating quotes for its customers they are driving towards grave danger.
The momentum of the sales cycle is about how fast and accurately you close a deal. With Salesforce CPQ billing software, your salespeople can rapidly configure services and products as per the business requirements & store every data in a centralized platform, where the data can be updated as per requirements.
Companies that have adopted CPQ have experienced a 28% reduction in length of sales cycle & 49% more proposal volume.
With the Salesforce CPQ implementation service, you can generate quotes within a couple of minutes, which leads to fastening the sales cycle and helps in closing deals rapidly.
Some Other Important Ways Through Which CPQ Improves Business Sales
- Greater Collaboration – CPQ can easily integrate with your existing business technology and brings smoothness and standardization into the sales process, like sending quotes, generating orders, etc.
- Quote-To-Cash – The cloud-based Salesforce CPQ provides greater visibility to salespeople across the entire sales process by making it accessible from anywhere, through any device.
- Automated Reporting – CPQ billing software brings automation to the process. The smart solution offers smart insights and reports that bolster the sales process.
- Higher Transparency – The smart insights that you will get through CPQ will help your sales team with a strategic image of sales activity and greater transparency.
- Maximized Sales – In a study by Salesforce, it is found that companies who have used CPQ, they have experienced 105% growth in their average deal size.
Conclusion
As stated above, the sales cycle could be long and daunting if you do not have the required tools and software. With Salesforce CPQ, your sales representatives will have complete control over the sales process, and they can effectively keep the business process running.
There are plenty of Salesforce CPQ implementation service providers. One of the best among them is Fexle Services, a leading Salesforce Gold Consulting Partner that possesses 13+ years of industry experience and served multiple global companies from different industries.
The Salesforce CPQ implementation experts at Fexle will ensure an effective implementation process that leads to higher lead conversion and improved business sales.
