Configure Price Quote (CPQ) is fast becoming one of the most essential parameters as far as the Salesforce environment and cloud computing are concerned. This is primarily because of its ability to cause the sales cycle to be transfigured. Therefore for the progress of the Salesforce community, it is vital to have a very fair idea of how CPQ operates.
CPQ is important from the onset of the business, once you notice an opportunity or even merely an interest, and there is the need to take your prospects through the sales cycle efficiently and within the shortest possible time. This is basically done by developing a complicated quote. It also ensures that your sales users are given the products they seek at the correct prices as well as showcase the opportunities available.
The advantages that CPQ provides are enormous. It makes sure that you are able to sell more to your prospects. Because it is well automated, it catalyses the selling process and gives you the opportunity to sell more of your products within the shortest possible time. It does this by ensuring that the templates of the quotes and the input data can be accessed with ease.
It is unreasonable to assume that your sales team actually knows any current promotion that is ongoing. The relevance of CPQ is to automate this phenomenon by setting several rules. One of such rules is the recommendation rules that causes a rise in the total quota of your sales team by giving various selling opportunities.
Moreover, CPQ allows you to sell in a smart and well-guided fashion, owing to the fact that the complex quotes are developed in a timely manner. By the correct use of the validation rules, only relevant products for your prospects are authenticated for them to be selected.
This saves the time your prospect has to spend in running through the various products located in your catalogue. With CPQ, you are confident that all the quotes leaving the company have the right pricing, best product combinations, as well as within your set discount rates.
Furthermore, another importance of CPQ is the fact that it is uniform and accepted worldwide. The use of a CPQ system that is centralised ensures that irrespective of the location of your users in the world, they will be exposed to the same quote templates, price books as well as your own set standards.
Every CPQ system has a rationale behind its use, and it is also equally important to know when and how to use any type of CPQ solution. But generally, the CPQ system is usually used by companies that have a minimum of hundred sales people, even though it can also be used by small enterprises, but with a different approach.
Sales persons usually spend most of their time developing quotas and sales plans. The use of CPQ will make sure that your sale team does not spend productive time to input simple data, which might not even yield the desired results because of the hectic nature of the job. Therefore CPQ, as the acronym accentuates, configures, prices your products and develops quotas.
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