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Well known as the Quote to Cash solution, CPQ (Configure Price Quote) has been here for decades. Although, the constant innovations in technology make sure it is efficiently effective even today. The sales tool works for a rapid and accurate quote for orders that saves loads of time for sales personnel. Currently, they estimated the CPQ software market size to grow at a CAGR of 13% with USD 1.14 billion from 2020 to 2024. This made us choose to speak about one of the outstanding CPQ solutions- Salesforce CPQ.
Let’s start with some current worldwide data about CPQ software and the entire process.
Do you know?
- According to Forbes, sales reps who produce accurate quotes produce 65% more orders.
- A non-CQP user takes 73% more time to produce a typical proposal.
- It’s 9 times more expensive to gain a new customer than to keep the old one.
- A CPQ software shortens the sales cycle by 28%.
- The software has proven to erase human error by 40%
- Companies using CPQ software see a 17% higher lead conversion rate.
After enjoying the facts of what you can get with CPQ software, let’s know the speciality of the cloud-based CPQ software of Salesforce.
Elaborating Salesforce CPQ-
Hosted by the Sales cloud, CPQ software directly links you with your CRM and helps to make impactful decisions. Every sales rep wants to close a deal faster, and that’s the goal of Salesforce behind this software. The platform covers the all three questions a salesperson crosses through every day, such as:
- What do they want to buy? (Configure)
- What is the price of the product they want to buy? (Price)
- How can you give them accurate and sales-ready details about the product? (Quote)
Understand more about the CPQ in terms of CRM extension.
Now let’s understand each part of CPQ software one by one.
Configure- To understand the demand of a customer, you need to know everything about their sales history. However, a salesperson can’t remember these things about every prospect. But when you configure it with the help of Salesforce CPQ, the process becomes a lot more easy, on time and accurate. Salesforce CPQ makes a smart rule for products and makes sure, whenever customers see any product, they also see the related product. It not only helps to enhance selling but prevents you and your reps from selling an incomplete product.
Price- All you have to do is to find the right product price and apply a discretionary discount on it. After that, Salesforce CPQ solutions will handle the rest, including math. The efficient platform gives you time to focus on your customers rather than calculators.
Quote- After you have done with the configuration and pricing, just with a click, and it will generate a PDF. You can also customize the look of your quote draft, and especially when your entire team is using CPQ software, they can appear professionally. Also, the entire requirements, including e-signature integration, special terms will appear automatically. This will ultimately help reps to close deals faster and easier.
After Configure, Price and Quote, there are several more steps this CPQ software can help in, such as contract negotiation, Order management, invoicing, payment receipt.
This thorough explanation of this Salesforce software might picture some more benefits that unfold how it enhances the selling process.
List of tinted benefits:
- Helps to close complex deals
- Minimise financial risks
- Generates insightful reports
- Automate sales cycle
- Saves time
Also know- How and why Salesforce CPQ implementation benefits your organization?
Why Atocloud for CPQ services?
After reading this massive work efficiency, vast benefits, eye-popping statistics, you might think of adding this software for your CRM and selling process. At Atocloud, we offer each key solution related to CPQ, including implementation, custom layout, analysis and consultation, integration and IT support and solutions.
Want to know more or looking for the same, contact Atocloud right from here!