You already know how important it is to make a sale, right? Of course, you know, because it’s not possible to keep an enterprise running without being able to sell the product or service you offer.
Generating sales is one thing- sending the right quote and proposal is a different thing altogether. A lot of time wasted on creating the perfect quote could be used for more substantial activities resulting in a company’s growth.
A lot of sales reps remain tied up in those usual routine activities- managing spreadsheets, training recruits, and then overseeing them while getting back to that back-breaking sheet maintenance.
Tired already? That was just the start of what sales reps do, until the arrival of CPQ technology.
Before going into what it all means, let’s look at the factors that lead to the need for a CPQ process in the first place-
CPQ Technology- A Justified Differentiator Adopted as a Parameter
CPQ stands for configure, price, quote, representing the three functions that the platform makes so seamless and efficient. In fact, this technology has been so revolutionary that it influences almost every business function with it.
If there’s a dedicated sales team in your organization, then a CPQ solution has to be available to keep their potential at the highest level. Specifically, in the case of manufacturing complex products, CPQ leads to reduced times between configuration and pricing- all the more reason to adopt this technology at the earliest.
In the market today, there are a lot of CPQ products that claim to be the best, but for us, the one which boasts of efficient integration with existing platforms that you have employed.
B2B e-commerce is one of the dominant platforms where the power and potential of CPQ are unleashed in full glory.
Let’s delve a little more into what this CPQ and e-commerce combination brings together.
CPQ and B2B E-Commerce Systems- A Great Integration!
With B2B businesses, B2B business integration has also become a genuine term, where different functions are aligned together with the help of automation as well as seamless communication between two or more entities.
The outcome? Overall operations and dealings become highly efficient for customers, business associates as well as suppliers through the automation of various involved processes.
For every single rule, a robust CPQ system brings perfect execution in effect with alarming accuracy and efficiency, while integrating with your e-commerce platform at the same time to deliver stunning results.
Benefits of this integration-
Why Look at Integration?
We know we are using the word integration quite a lot, but it is indeed so dominant in its impact where CPQ and e-commerce are concerned. Irrespective of any challenges that you might be facing, a properly loaded CPQ system delivers value that you never thought possible.
We mention a few reasons why CPQ technology and e-commerce are an integration solely needed-
If the pricing is not right, the implications are far and wide- from bad customer experiences to margin reduction and elimination, it can ultimately lead your client to leave you for competition that is more ‘sure’ about what it is selling.
CPQ pricing allows accurate pricing for your product and service offerings while also keeping you alert about the kind of discounts you can offer without compromising on your margins.
If you rely more on sales cycles for generating most of your revenue, there will be a lot of upselling and cross-selling opportunities with it. That’s also understandable, as increased product complexity is sure to disrupt the human thinking of the sales reps sooner rather than later.
A great CPQ system makes use of available data and workflow to cut downtime and unnecessary employment of resources to deliver accurate pricing.
Sticking to deadlines and delivering with accuracy is what keeps clients hooked to you. Today, they want instant gratification whether it’s a B2B scenario or even B2C.
With a CPQ solution, there’s no need to keep evaluating the variables, submit quote requests, and then getting your sales rep to call clients for a final update. All of it happens almost instantly with CPQ.