CPQ software is used to customize price offers. The tool is perfect for automating work in the sales department. It enables you to quickly provide customized price calculations for a product or service in accordance with customer requests. There is no need to manually enter all the transaction components, and check the availability of promotions and discounts for a certain order volume. Your company’s sales representatives will have much more time to concentrate on other tasks.
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CPQ Solution and Its Purpose
CPQ automates pricing from start to finish. It can be combined with corporate software, which eliminates familiarization problems and reduces employee training time. Each software vendor implements a specific set of options, which speeds up work processes. Employees won’t need to spend a lot of time entering data and generating quotes. Instead, they can focus on interacting with customers and building mutually beneficial collaboration.
When choosing a CPQ solution, consider the needs of your business. The variety of features in the program is a benefit. However, if you don’t need them for your business, there’s no need to learn additional details. At the same time, the software should be intuitive, easy to configure, and relevant to the current time.
What Does CPQ Mean and What Are the Functions of the Software?
CPQ stands for configure, price, quote. Everything is very simple. You can configure the parameters, quickly set prices, and negotiate a proposal with the customer. Processes take a minimum of time, which is important for the competent distribution of work tasks. As for CPQ functionality, the developers offer combinations of the following options:
- automatic configuration of orders. It means that the software generates work-intensive orders, taking the entered customer requirements as the basis. For example, the desired product, pricing model, current discount amount, payment, and delivery conditions are taken into account. This approach simplifies the sales process and ensures accuracy in the creation of proposals;
- managed sales. The software automatically directs requests from customers through the appropriate offer funnel. Specific business rules are applied for each order. This reduces errors and increases customer loyalty;
- proposal generation. The software generates orders in the shortest possible time by combining product data, graphics, text, and other content for users. This is necessary to create accurate, clear, and convincing documents;
- contract management. The software is set up to store contracts and the capability to view them at any time. Legal regulations are respected, changes made to the contract are tracked, and notifications are provided when documents need to be updated or signed;
- process tracking. With the software, you will be at the center of business events. This is due to the fact that the software is used to track processes from the creation of a quotation to the closing of contractual obligations. Thanks to such an approach, transparency in each stage of cooperation is ensured.
- Reports and analytics. Using the software, it is possible to view key data which characterize the profitability of sales, the amount of the given discount, the number of orders, and many other details. This enables you to assess the quality of business processes and make informed decisions in the future.
The CPQ tool will help you build a well-coordinated team, please your customers, and fulfill your contractual obligations on time. Process automation has many advantages, and you can appreciate them within the first days of using the software.
CPQ: Who is the Software Suitable For?
The software can be used by sales agents but not only. In addition to the sales department, it can also be used in other business segments. You can purchase software to simplify the work of the following employees:
- He will be able to quickly set up the software to generate offers and track the status of orders;
- the buyer. Using the software, the customer will be able to find the necessary products, view specifications, compare prices, or place an order;
- The program is used to configure the product during its manufacture. 3D visualization of the final product is also possible;
- The employee will be able to produce a finished solution faster by using technical specifications in his work;
- the consultant of the support service. Thanks to a single interface with information about order statuses, payment, and delivery details, operators will be able to quickly solve customers’ problems;
- an account manager. The employee will be able to develop relations with customers by viewing the history of orders, current discounts, and other information;
- business analyst. The specialist gets access to the main data, due to which he will be able to assess the demand for products, sales volume for a certain period, pricing trends, and customer behavior.
With CPQ, you’ll reach a wide range of employees, making it easy for them to do their jobs. No less important is the speed of the processes to form a pleasant opinion of the company among customers.
Pandadoc: Modern Solution for Your Business
When looking for process automation software, check out Pandadoc. The software is used in various areas of business, including CPQ. It is adapted for smartphones and tablets and works in conjunction with a corporate database. It is distributed free of charge, reducing the time required to complete tasks.
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