CPQ, or Configure/Price/Quote solutions, is a software that enables your sales channels to sell more, in larger quantities, and from virtually anywhere. CPQ solutions help sales operations within your organization reduce friction within the traditional B2B sales cycle. You are provided with the best possible guide as leads come in, get qualified, are sent to your sales team, and become a winning deal. Allow yourself to get more deals done in less time and with a higher margin to ensure maximum ROI when you deploy a CPQ software solution.
Benefits Enjoyed by CPQ Users vs Non-Users:
105% larger average deal size in sales
49% higher average proposal volume per month
27% shorter sales cycle
26% more full-time sales reps who reach their numbers
19% higher lead conversion rate
Guidelines for Maximum ROI:
Take advantage of the automated features available that give sales managers certain windows of independent pricing flexibility. Limitations can be set to how much leverage can be given to sales reps, and have management alerted if these limits are exceeded.
Integrate your CPQ software with CRM. Linking the two solutions gives management the ability to get a 360 degree view of all up-to-date information related to the full customer lifecycle.
Adopt mobile-friendly CPQ applications to empower your traveling or remote employees with up-to-date customer and pricing information so they can make more informed sales decisions.
Embrace the predictive analytics and price optimization features.
Don’t assume that CPQ is a simple plug-and-play applications. You can easily short-change your investment if you not employ and train the human resources necessary to make your CPQ solutions worth the investment. This solution is more than just software, it is the process and people involved too.
Don’t be afraid to offset the investment with high ROI goals. Given the huge time savings that are provided, achieving more aggressive quotas is easier than you think. As a manager, or an individual contributor, you can provide more and expect more with your CPQ solution.
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