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How To Recognize Revenue More Quickly With Salesforce CPQ

Recognize revenue with Salesforce CPQ

In sales, time is money, and today’s sales reps can’t afford to waste a minute as they work to close deals and bring in more revenue. The quote-to-cash solutions provided in the Salesforce CPQ simplify several aspects of the sales process, from quotes to invoices, all to assist reps in recognizing revenue faster.

Take a look at the three stages of the sales process that can be accelerated with Salesforce CPQ.

Sales Quotes

The CPQ system increases sales rep productivity as a whole;  better productivity equals more sales. It allows businesses to configure products and services based on business rules and logic. Storing this information in one place allows configurations to be updated at any time, such as when products change or special promotions are applied. All pricing and discounting can be found in one location, ensuring consistency across the company, while speeding up the approval process. Sales reps can enjoy the ability to generate customer-friendly quotes easily, while knowing the information will be accurate and up-to-date.

The quoting features also lend themselves to guided selling capabilities. Reps can select the right product and services for each customer and easily identify cross-sell and upsell opportunities with the product and service configuration features. Channel sales can also benefit—as partners generate quotes and make sales, pipelines and forecasts are automatically updated.

Proposals and Contracts

Again, consistency and automation play an essential role in improving the sales process. The proposal generator can create professional, branded proposals every time, ensuring consistency. Pre-built, fully-customizable templates allow reps to create a new proposal with one click of a button. The pre-approved templates can significantly reduce the chance for error, eliminating the need to take precious time going back and forth making corrections to the proposal.

Contracts can be managed in a similar way. Executable contracts can be delivered in a single click, with e-signature capabilities integrated as well to help close deals faster. Contracts and customer records are both easy to find and reportable, making the whole process simple not only for the sales rep, but also the customers themselves.

Revenue and Billing

Finally, what better way to recognize revenue more quickly than by speeding up the process that gets the money into your hand? Salesforce CPQ can automate the invoicing process, allowing invoices to be created on the go, from any device. Collecting and managing those payments, as well as the dunning process, can all be handled in the system without complication. Subscriptions can be set to auto-renew, so you can automatically collect on services that are billed on a recurring basis.

Custom revenue reports and dashboards can also be accessed with Salesforce CPQ, so you can easily identify your top-spending customers, most profitable customers, and the most successful pricing models.

Ready to implement or optimize your own Salesforce CPQ? Contact the experts at StarrData today to get started.

Posted by Darren

Darren

Posted: September 26, 2017

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