25 Apr

Configure, price, quote software (CPQ) helps manufacturers reduce errors, increase productivity, and streamline sales. It also enhances the customer experience (CX), which greatly impacts their bottom line. Consider that 96% of customers will leave for poor customer experience, while it’s anywhere from 5 - 25 times more expensive to attract a new customer than retaining an existing one.


Hence, several CPQ solutions have emerged in recent years—including the CPQ in Salesforce. Let’s take a look at the CPQ in Salesforce in closer detail, delving into its pros, cons, and key considerations for companies seeking to implement the Salesforce CPQ.

Essential Points:

  •      What are CPQ software solutions?      
  •      What does the CPQ implementation process look like?      
  •      What is the CPQ in Salesforce?      
  •      The Pros of CPQ for Salesforce      
  •      The Cons of Salesforce CPQ 

What are CPQ software solutions?
CPQ software solutions provide various benefits to both manufacturers and their customers, with the market set to be worth $3.9 billion by 2026.


But what exactly are these benefits?


Manufacturers can dictate how their products are configured, priced, and sold. By leveraging advanced rules engines, such as the Epicor CPQ Snap rules engine, they can then build an automated configurator based on their organization’s specific manufacturing rules.

Customers can self-serve, taking advantage of almost limitless customization options without enlisting a rep’s help. Reps can wave goodbye to dealing with dense spreadsheets and battling through thousands of SKUs. Instead, they can focus on sales, leaving automation to handle the customers’ requests.


CPQ software leverages 2D and 3D visual configurators to show customers exactly what their end-product will look like—reducing the likelihood of returns. The price updates in real-time while automation eliminates errors throughout the buying journey.

Once they convert, the CPQ’s in-product configurators will pass critical data immediately from the shopping cart to the shop floor. All vital documents, including BOMs, cut sheets, inventory status, and assembly documentation, are automatically generated without reps needing to lift a finger.


Internally, this amounts to a smoother, more seamless buying process. As Jeff Smith, Engineering & Design CAD Specialist at Timberlane, Inc., comments, “We have a simple product with numerous and sometimes complex and unlimited option catalog. KBMax [Epicor CPQ] allows us to handle 95% of the custom requests without needing to use outside drawing programs to meet the customer’s needs.”


What does the CPQ implementation process look like?  

Manufacturers need to derive value from their CPQ solution as soon as possible. Lengthy implementation processes are not only a time-consuming distraction, but they can also harm the organization’s productivity. 

Fortunately, the CPQ implementation process is easier than you might think. Follow these five steps to get your CPQ software solutions up and running:

  • Create a genuinely cross-functional team            
  • Pinpoint your business drivers before developing a project brief Devise a robust business case to secure buy-in as early as possible      
  • Carry out your CPQ project      
  • Systematically tackle company culture to overcome resistance to change


By mastering these five steps, you can ensure your CPQ implementation process is as seamless and successful as possible.

What is the CPQ in Salesforce?

Housed in the Sales Cloud platform, Salesforce CPQ (which used to be called Steelbrick) is a tool that helps manufacturers close more deals in less time, satisfying more customers while reducing errors to the bare minimum. It’s a CPQ explicitly designed for Salesforce users, meaning organizations can easily pull in their CRM data to better personalize the customer experience

The Pros of CPQ for Salesforce

It’s time to delve a little deeper. Let’s analyze the specific benefits that Salesforce CPQ provides its customers.

Rapid, error-free quoting
78% of customers buy from the company that responds first. The Salesforce CPQ offers 10x faster quote generation, resulting in a 95% reduction in approval time.


A one-stop reporting shop
Users can achieve a 200% quicker quote-to-cash process by managing invoices, orders, and reports within Salesforce CPQ.


Guided selling
Salesforce CPQ’s guided selling capabilities get new hires up to speed 30% faster.


Boost your subscriptions 
The CPQ in Salesforce allows manufacturers to engage in multi-dimensional quoting for subscription products, maximizing customer lifetime value by locking in repeat orders.


The Cons of CPQ for Salesforce
However, there are a few areas where the CPQ in Salesforce falls short.


It isn’t easy to wrap your head around
Before they can derive value from the CPQ in Salesforce, reps must first undergo rigorous training. This precious time could be better spent serving customers and getting deals over the line.


A sluggish system
Salesforce CPQ users frequently report the system as being unresponsive and laggy. CPQ solutions have the potential to speed up the sales process by 38%, so this sluggishness is particularly disappointing.


As the adage goes, ‘time kills all deals.’ The slower a CPQ system is, the more likely prospects will get frustrated during their buying journey and decide to go elsewhere.


Not customer-centric
The best, most customer-centric CPQ solutions provide ample consumer benefits. Unfortunately, it isn’t easy to embed the Salesforce CPQ’s configurators into customer-facing websites.


Perhaps too simplistic?
Manufacturers offer a range of highly complex, technical products. They need a CPQ that can keep up—one that will easily handle advanced product rules. Unfortunately, the CPQ in Salesforce is notoriously poor at handling complicated technical requests.


Lacks 3D configurators
3D or VR/AR-based configurators set the best CPQ solutions apart. They allow customers to interact with products as if they were right there, ensuring customers buy the right product for their specific needs. 3D configurators shorten lead times and improve design accuracy. But, Salesforce CPQ lacks 3D configurators, which significantly hampers the customer experience.


Doesn’t play well with others
The best CPQ solutions integrate seamlessly with manufacturers’ tech stacks. However, Salesforce CPQ offers limited integrations, meaning it can only provide its users with minimal productivity and efficiency gains.


Users cannot drag and drop specific line items
For over two years, Salesforce CPQ users have demanded one thing: to be able to drag and drop specific line items. Yet, their requests are still unanswered. This shortcoming overcomplicates fulfilling large orders that can run into the tens of thousands. It also demonstrates a worrying and uncharacteristic lack of customer-centricity from Salesforce.


Solid, but far from a superstar
The CPQ in Salesforce handles the basics with ease, speeding up the sales cycle, reducing manual effort, and providing customers with a seamless, error-free buying experience. However, it’s far from the complete package. It struggles with more complex requests, lacks immersive visualizations, and integrates poorly with other systems.
If you’re looking to implement a CPQ, consider researching other, more well-rounded (and customer-friendly) solutions.

 


Comments
* The email will not be published on the website.
I BUILT MY SITE FOR FREE USING