Define CPQ and Elaborate its Benefits

Reinvent the way you sell products using CPQ solution. CPQ that stands for Configure price quote is a software solution that is designed to configure and quote complex products in the most optimal way. While creating the quote, the software tools follows the various pricing parameters set by the management. As a result, you are able to create quotes without any errors.

The cost associated with production and other economic factors are taken into consideration, hence company’s margin is not killed while creating quotes. Value added resellers who follow complex sales process commonly using this software tool to make it easier to do business.

Faster sales cycle and access to upsell and cross-sell opportunities during quote creation are some of the biggest advantages of using CPQ software. According to the Aberdeen Group, the sales cycle can see a 28% reduction with CPQ, thereby positively impacting sales rep productivity. No wonder, you can definitely improve your existing processes using this tool.

Closing bigger deals has always been tedious and painstaking but with these tools closing some of the most complex deals is a breeze. Slower quote time would become a thing of the past. So no matter how complex your business becomes, you can completely rely on this software tool to efficiently manage your business.

Moreover, Configure price quote software comes with built-in sales analytics, thereby giving you a clear idea of which product configuration will work and help in increasing sales. CPQ with its real-time analytics help you to track products and pricing trends. This will make you aware of products that are in great demand and moreover allow you to decide their competitive pricing that help you sell.

On the whole, when you feel that your quoting process has become time-consuming, it is time to automate it with CPQ, which will allow you to create some of the best quotes in minimum amount of time.