If your company is using Salesforce in any capacity, chances are you’ve heard of CPQ or you’ve at least read about the comparisons between CPQ systems. It isn’t hard to see why—CPQ software helps to continue the momentum in the sales process, especially in the final steps.
All too often, the end of the sales process becomes complicated, causing many prospects to drop off before a deal is done. Instead of losing your prospects’ interest, you can actually close more deals and recognize revenue more quickly with a solution like Salesforce CPQ.
While the list of benefits can sound appealing, the thought of overhauling your systems to introduce a CPQ may seem daunting. Let’s explore Salesforce CPQ to discover whether or not it’s the right solution for your business.
What is CPQ?
First, let’s define CPQ. The abbreviation is short for configure-price-quote and describes a software solution designed to help businesses create and share accurate price quotes quickly and easily. An ideal CPQ solution streamlines the entire contracting process, allowing sales reps to:
- Create multiple quotes quickly and efficiently
- Track prospect and customer information within your CRM
- Tailor contracts and sales quotes to individual customers
- Make better-informed decisions around special pricing, discounts, and terms
- Eliminate user error by drawing from reliable data sources to auto-populate fields
Why Do I Need It?
In the final steps of the sale process, contracts are negotiated, prices are quoted, and special circumstances are considered. While necessary, this stage of the process is often slow and tedious. Prospects tire of the constant back and forth, which sometimes makes them lose interest in the product altogether.
CPQ pricing solutions can streamline these final steps and help reps move prospects through this stage quickly and painlessly. Instead of shuffling through pages of spreadsheets to find the correct pricing structure or risking errors by manually inputting information, reps can use CPQ software to close deals efficiently and accurately.
Solutions like Salesforce CPQ can integrate with your CRM to automate as much of these final steps as possible. The result is better sales productivity and a better closing rate. In fact, companies who use a CPQ tool see, on average, 17% higher lead conversion than those who do not.
Why Salesforce CPQ?
Of the many CPQ solutions available on the market today, Salesforce CPQ is the most trusted by users. In a CPQ software comparison performed by G2 Crowd and based on customer satisfaction and scale, Salesforce scored higher than any of the 44 other CPQ providers on the list.
Salesforce CPQ is a complete solution, providing reps with automated tools to generate accurate quotes, error-free contracts, and professional proposals. Its streamlined billing and revenue features can help in collecting payments, managing subscriptions, and accounting for revenue received. The entire tool is also accessible through a single dashboard for ultimate simplicity and efficiency.
Salesforce CPQ is also fairly straightforward when it comes to implementation, but to get your team on board quickly, you can receive custom implementation services from Salesforce vendors like StarrData. With help from the experts, you can expect a smooth, seamless implementation process so you can start reaping the benefits of Salesforce CPQ as soon as possible. Contact us today to get started!