It’s the 21st century; every existing business is out competing to broaden its clientele base. Every customer out shopping is mindful of his or her budget and pricing is at the top of his or her priority list. As a budding business, the right CPQ solution will help you set mind-full prices with the consumers’ needs intact without forgetting your targets. A CPQ software makes it easy for a business to keep up with product pricing based on the relevant variables. It also helps keep up with the changing market demand.
Here are a few reasons why you need CPQ software;
Helps manage prices for a wide range of products
The software helps set and keep track of a wide range of products based on both internal factors and external factors. It ensures special offers from suppliers are seamlessly incorporated in prices. It also keeps track of competitors’ price variations and how they affect your business. Streamlined pricing data ensures streamlined workflow.
Ensures proper product pricing
CPQ ensures quick and efficient pricing data is available and is easily sent to other stores. This ensures supervisors in every store can effectively keep track of appropriate prices and price changes. The software helps account for the cost of production or cost of purchase and profit to generate the appropriate prices. This also ensures upsells and poor pricing is captured and handled before they pose a business threat.
Increases productivity
An average sales person spends slightly less than half their work time on unnecessary tasks, yet an increase in actual selling time can quadruple your business revenue. The software cuts down on time consuming tasks hence creating more work time generating actual tactics to sell. Streamlined data enhances work flow hence saves a lot of time, and more sales are made.
Enhances knowledge retention
The software by design lumps up all-important information availing it with ease to sales persons. The software institutionalizes sales and pricing knowledge that could be helpful while training. It provides a detailed broken down configuration of complex information.
CPQ software shortens the sales cycle.
Customers have now come up with a means of choosing their preferred provider based on the sales quote. If the quote process is long and unpredictable, the customer is deterred, giving the competition an upper hand.
Return on investment
The software has tools that simplify the quoting process making it faster and cheaper. It helps the sales team to generate the right product mix at the right cost and time to the right customer. It enhances proposal quality, customer retention and has shorter sales cycles. It also generates automated upsell and crosses sell suggestions hence assisting to increase the average quote and order size quickly.
CPQ solutions software will help save on time, generate increased return on investment and attract a larger customer base with winning proposals. The software not only ensures ease of working but also keeps you at the fore front of updated technological knowhow with regards to price setting and customer service.
Daryl Green