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Brad Furie, iQuoteXpress

CPQ + CRM = YES

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MBO, CPQ, CRM. Salespeople L.O.V.E. acronyms!

That’s probably because we know time is short. But when an organization truly needs to save time and speed throughput, it automates as much as possible.

And nowhere is automation more critical or more impactful than in the sales proposal process. Enter configure, price, quote; a.k.a., CPQ.

A fully automated CPQ solution integrated with your Dynamics CRM (ideally, via single sign-on) can:

  • Allow sales reps to deliver more compelling proposals more quickly
  • Ensure uniformity in the look and feel  of quotes presented to clients
  • Empower management to track quotes the same way they can track calls in Dynamics

Here are five basic benefits of rolling CPQ into your CRM – benefits that speed throughput, drive new revenue, and deliver quantifiable ROI for any and all Dynamics users.

1: Make the most of existing CRM skill sets

When you integrate a CPQ solution into your Dynamics solution, you’re not asking staff to start from scratch, but simply putting a new tool in their tool box.

Sales proposal automation is not a new system, per se, but a next step in an existing system. That is,when you integrate CPQ with CRM, you’re not asking salespeople to learn how to drive — they know how; you’re simply helping them drive faster (and with fewer accidents to boot).

2: Sales reps in lockstep

Automating proposals means streamlining how your proposals read and look, and — most importantly — ensuring every rep is in lockstep, using the same tools and processes.

An automated, integrated sales proposal tool allows you to more easily measure and track the effectiveness of each quote, and can be extremely useful for  helping new hires get up to speed quickly. As anyone in sales can tell you, high turnover is standard. So while Monday’s rep may not necessarily be Friday’s rep, an automated, a unified proposal platform can help ensure a seamless experience for customers every day of the week.

3: Clearer communication between marketing and sales: dare to dream

Marketing: “Why aren’t you closing the leads we’re giving you?”

Sales: “The leads you give us stink.”

CPQ won’t entirely solve this challenge, but the consistency it delivers to your proposal process can eliminate a lot of the guesswork as you can track a prospect from proposal to customer.

And connecting closed prospects back to their source can help make the daily conversation a little more like this:

Sales: “The leads you gave us from campaign X resulted in 20% more proposals and 10% more new business.”

Marketing: “Great! We’ll increase the spend on that campaign and hit ‘em again!”

4: It’s about (wait for it…) TIMING

The second a sales proposal is sent, the clock is ticking. Maybe the price in it  is only good for a month… maybe the person who needs to sign is only available for the next week… maybe the end of the quarter is 10 days away and a bonus hangs in the balance.

The reasons for timeliness in your proposal process are endless, but the way to ensure deadlines are met is singular: CPQ. With an automated sales proposal solution fully integrated into your CRM, missed opportunities can become a thing of the past. You won’t skip a step or miss a deadline… because the system won’t let you.

5: The more you know...

How many proposals does a salesperson deliver in the average month? How long does it take to put a proposal in a prospect’s hands? How long does it take a rep to move a prospect from proposal to won/lost once a proposal has been sent? How long should it take?

The reporting in your CPQ system can give you these answers and more. And knowing the answers to these questions will help you find areas for improvement, and not just in sales proposals, but in your organization.

Because if everyone in your group is pushing through a dozen proposals a month, but Fred seems to only push through five, maybe the issue isn’t the quality of the leads, but the quality of Fred. That Fred…

Want to see how iQuoteXpress can work with your Dynamics system? Contact us.

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