Reducing Friction with Configure Price Quote (CPQ)

Reducing Friction with CPQ

Often, companies struggle to find a balance between sales operations and finance teams.  In order to appeal to more consumers, sales ops want more compelling prices and products, while your finance team is likely focused on producing higher margins and limiting costs. Often, these two demands create friction in your organization. Any friction created internally will inhibit company performance, so it is vital to your team to find a solution to satisfy both.

As a manager, it is your role to find a solution to coordinate between the two departments and find a cohesive balance in order to achieve profitability and increase sales conversion. Failing to alleviate friction in your organization can will have destructive consequences if mismanaged.

Configure, Price and Quote (CPQ), is an automated process that generates quote proposals for sales teams. The process includes assessing product variables, creating accurate pricing, generating quotes, and then applying those quotes to contracts. With pricing, you can be assured that CPQ takes into account endless complicated pricing variables, products, packaging, bundling, and discounts that sales teams can often misquote. By utilizing CPQ you ensure your sales team is empowered to handle any sale cycle in record timing with amazing accuracy, regardless of pricing complexity.

Utilizing Configure, Price and Quote tools with your company will have a positive impact on your sales effectiveness, sales productivity and sales order accuracy, all of which will protect your margins. More than that, CPQ creates an automated and well-crafted quote system that integrates new price parameters so that sales teams will not offer inaccurate quotes and hurt company profits. While previous paper-based and manual quoting can result in costly errors, CPQ is an all-electronic automated approach that will save you time and money and provide margin protection (read: a happy finance team).

CPQ will ensure your sales team is selling with confidence and integrity while lowering additional unnecessary costs. As a result of implementing CPQ technologies, your sales process can be streamlined, allowing your sales team to move on to new deals much more rapidly, which in turn increases your conversion and ultimately allows for more revenue.

Move forward with confidence that your sales operations are as efficient and accurate as possible, without compromising margin. By utilizing the latest technological initiative in the industry, you are protecting your company’s financial future.

Because CPQ is efficient and effective, sales teams are empowered with the collective knowledge that they can create quotes in record timing and finance teams can be assured that prices are efficient. Before you know it, your friction will be eradicated and your sales conversion and margins will increase. With CPQ your operations can be streamlined and automated, making everyone’s jobs easier. By restructuring your sales process to CPQ, you can increase margins while resulting in customer satisfaction, increased sale cycle and customer retention. Win-win.