TMCnet Feature
June 29, 2021

Why Your Business Should Use CPQ Software



If your business offers complex products and services that can be configured to the customer's needs, then you need to make use of configure, price, quote (CPQ) software. You're already aware of the challenges that can occur during the ordering process when you're trying to close a sale while calculating configurations manually in an attempt to provide an accurate quote.



You're likely also familiar with the customer dissatisfaction that can come with receiving a quote that's below the final asking price. CPQ software helps automate these processes to ensure that such errors are avoided. Here's a quick rundown of how it works and how it can help you.

Configure

No matter what kinds of complex products you're selling, a product configurator can assist customers in selecting exactly what they need to suit their needs with a simple dashboard. Thanks to data visualization options, customers can see exactly how their changes to customizable products affect the overall look of the product in real time. 3D visualization makes it easy to inspect all aspects of the product, no matter how many times it's changed.

With preset rules, you can classify which products and parts are compatible with each other, so customers are always getting an accurate representation of what's possible with your CPQ solution. New sales people and experienced reps alike can also create their own custom configurations in order to pitch them to customers based on previous purchases. This can go a long way toward boosting revenue and inspiring customer loyalty.

Price

With Configure One CPQ, you can generate accurate prices either dynamically or by using bill of material item data. You can even integrate the Configure One solution with your enterprise resource planner (ERP) to pull item pricing information that's automatically kept up-to-date and accurate.

As customers change configurable products in the product configurator, the price of the product will be updated accurately as well to reflect your current contract with that customer (if applicable). You can apply rules for discounts on certain products and parts, or you can apply them to packaging or shipping. You'll even be able to take your products global thanks to the C1 team's knowledge of multi-currency support, so you can accurately price anywhere.

Quote

You'll also be able to easily generate dynamic quote documents for customers that detail every line item for configurations. Sales reps can include additional data and images while preparing the documents as well. The Configure One CPQ solution also offers convenient quote tracking, so you can see when any changes are made to a quote and who made them. The C1 team can even support you by setting your products up in the system for you, so you can start providing your customers an improved service right away.

Integrations

While it's perfectly viable to do so, you don't have to run a CPQ solution on its own. In fact, CPQ can be easily integrated with Salesforce, NetSuite (News - Alert), and other CRM systems, thanks to fluent API design. The complete CPQ solution can be run inside Salesforce, making it easier than ever for sales reps to seize opportunities by providing immediate configurations and quotes to sales leads. Of course, any updates in one system are automatically replicated in the other, so there's no need for the manual transfer of data.

The inherent advantages of a CRM system can also be applied to CPQ. A reliable CRM system makes it easy to pull accurate customer data at any time, so you'll be able to identify each customer's preferences and even predict future buying behavior based on previous purchases. By having better configurations that suit their needs made in advance, you'll increase your chances at securing future sales and inspiring customer loyalty.



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