Getting a deal approved can be a fully fleshed and challenging procedure in many firms. The good news is that CPQ eliminates or drastically lowers these delays. The entire business process, including workflows for product configuration, pricing, quoting, ordering, and approval, is being streamlined by savvy businesses.
For today's enterprises, Salesforce CPQ has many benefits. With it, businesses can easily automate operations while swiftly configuring and pricing complicated goods or services, maximizing margins, avoiding mistakes, streamlining the approval process, and taking advantage of up-sell, cross-sell, and renewal opportunities. There is, however, still more that can be done. In this blog, we will cover essential Salesforce CPQ advantages that each company may use. Continue reading to learn more about how Salesforce CPQ features might benefit your business and improve the deal approval process
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1. Send automatic notifications
Generally, approvals indicate that one or more triggers need to be authorized. Using CPQ in Salesforce can expedite approvals more quickly than manual methods. People who grant authorization are automatically alerted since the quote or trade and the integrated triggers are contained in one system.
2. Automated approvals
It can take a lot of time to track down everyone who must consent for a trade to proceed. With CPQ, you can provide your salespeople more excellent support by creating a more transparent, automated approval process that notifies the team when offers are accepted or refused.
When offers are sent off for permission using a manual method, your salesmen could feel as though their deals disappear into thin air. Salesforce CPQ manages parallel and serial approval chains, giving all parties involved visibility into the deal's development. To save time, it also updates when a trade is accepted or denied at any stage.
3. Cross-selling and up-selling
Product marketing departments can quickly establish configuration criteria to retrieve recommendations for complementary goods and services, which salespeople can then include in quotes. These supplementary goods frequently have better margins and can increase profit.
4. Make pricing decisions faster
Salesforce CPQ displays past pricing trend data to sellers so they can choose their bid price. A win probability figure is given to assist the salesman in deciding whether to advocate for a higher price or offer a reduction. Graphical representations of historical win/loss pricing data are possible.
5. Reduce the burden of administration
All account information, including names, addresses, phone numbers, job descriptions, and more, may easily be transferred from the CRM to the CPQ system when the two systems are integrated. The products, costs, and deal status can instantly be synchronized into the CRM once the deal is in CPQ. This lessens the requirement to update two different systems and also lowers errors.
6. Real-time changes in product and quote
CPQ enables collaboration between sellers and managers during a contract. This gives the team more assurance and lets them grow the business successfully. All systems receive real-time updates when client requirements change. Your teams can sell more by streamlining administrative duties and taking them off the front lines of sales. Take the work off your salespeople's plates, standardize it, automate it, and let CPQ free them to do what they do best: sell.
7. Speed-up Quote/proposal creation
CPQ lessens the laborious administrative work necessary to produce a quote or a proposal document. The time it takes to develop an accurate proposal can be cut from days to just a few minutes when all transaction information is generated into branded, professional-looking templates.
Summing Up
When Salesforce CPQ is integrated with ERP and order management, it streamlines order processing by providing all the information downstream systems need—at the touch of a button—completely validated and error-free.
In most Salesforce CPQ, a quotation gathers all necessary data and displays it via customer-facing documents like proposals, quotes, and contracts in the most appropriate way. KBMax CPQ solutions organize the transaction data to seamlessly connect with or flow into your downstream systems, minimizing the need for manual order re-entry.