In the fastest growing business industry, entrepreneurs are constantly inventing and innovating new ideas. This has led them to fill all the spaces for improvement. Despite all the technological advancement, many businesses fail to assess the right value of the products and services. Inappropriate guessing and poor pricing quotation contribute to the failure of the businesses. This is where the CPQ (Configure, Price, Quote) tool comes into play.
CPQ software helps businesses to align the pricing of complex products with ease. It generates quickly and efficiently. Eliminating a number of sales hurdles, CPQ has proved to be a loyal companion for businesses.
Upsides of CPQ tool to integrate with the ERP and CRM system
- Short sales cycle
A shorter sales cycle is the most attractive benefit that the price quotation tool offers to business-to-business companies. It streamlines the products and automates the quotation process of the businesses that speed up the sales process eventually. A technically advanced business is capable of shortening the sales cycle and boosting capital gains.
Usually, sales reps in businesses with no software installation have to dig through the products’ catalog to provide accurate quotes to the customers. Customers experience a high-standard buying process. CPQ tool evidently increases productivity by 33% approx. The reason is that the sales reps are free from the hassles of generating quotes and can focus on the factors dragging the business down. A quick response from the businesses to the customers significantly increases the engagement ability of the customers.
- Improved sales team performance
Advanced problems require advanced solutions. It is important to identify lucrative cross-sell and upsell opportunities. Sales reps have to put in a lot of effort but the advanced CPQ system helps them do it effortlessly.
This tool lets the customers order the products easily that lands you in the competing race to increase conversion rates and boost sales team performance further.
- Increased efficiency
Sales reps are accountable for selling the products effectively but the majority of their time is spent on unnecessary processes of the businesses.
The quote software consistently manages the core tasks and keeps track of the analytics for you to review. Quote and proposal generation has no room for errors as these represent the strength of the businesses. These tasks are allocated to the efficient system and the reps can higher value tasks to generate the revenue for the company.
- Less quoting errors
Complex, configurable quotes, products, and errors might get very expensive for businesses.
Any manual error stretches the sales cycle and potentially impacts your customers negatively. A competent CPQ tool has advanced rules and validations engines that only allow the orders under your business capabilities.
The integration of the CPQ tool with the ERP (Enterprise Resource Planning) and CRM (Customer Relationship Management) system lists out the strategic quotation of the products to keep your customers engaged. Vistaar helps you configure smart pricing. It ensures quick quotes and responses for your customers. Our professionals help your business to take a lead in the market.