If your company is using Salesforce, chances are you’ve heard of CPQ. If not, maybe you’ve at least read about the comparisons between CPQ systems. CPQ software helps keep momentum throughout 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 complete. Salesforce CPQ is a solution that allows you to close more deals and recognize revenue more quickly.
While the benefits of CPQ are appealing, introducing CPQ into your system might seem daunting. Let’s explore Salesforce CPQ and discover if it is the right solution for your business.
What is CPQ?
CPQ stands for configure-price-quote and describes software solutions designed to help businesses create and share price quotes quickly and easily. An ideal CPQ solution streamlines the contracting process, allowing sales reps to do the following.
- Efficiently create multiple quotes
- Track prospects and customer information within your CRM
- Tailor contracts and sales quotes to individual customers
- Make better-informed decisions involving special pricing, discounts, and terms
- Eliminate user error by drawing from reliable data sources to auto-populate fields
Why Do I Need It?
The process of negotiating contracts, quoting prices, and considering special circumstances can be slow and tedious. This slow back-and-fourth dynamic with the prospect can make them lose interest in your product altogether.
CPQ pricing solutions streamline these steps and help reps move prospects through this stage quickly and painlessly. Utilizing CPQ software helps deals close quicker, and removes the risk of user error that comes from manual input, spreadsheets, and pricing pages.
Furthermore, solutions like Salesforce CPQ integrate with your CRM to automate many of the final steps in your sales process. The end result is better sales productivity and an increased close rate. In fact, companies that use a CPQ tool average a 17% higher lead conversion rate than those that don’t.
Salesforce CPQ Advantages
Salesforce CPQ is the most trusted solution by users. In a CPQ comparison performed by G2 Crowd based on customer satisfaction and scale, Salesforce scored first out of 45 CPQ providers.
Salesforce CPQ provides reps with automated tools to generate accurate quotes, error-free contracts, and professional proposals. Its streamlined billing and revenue features help collect payment, manage subscriptions, and account for revenue received. The entire tool is accessible through a single dashboard, making it simple and efficient.
Salesforce CPQ is also fairly straightforward when it comes to implementation but is out of scope for a majority of Salesforce administrators. To get your team working with Salesforce CPQ quickly, contact a Salesforce vendor like us at StarrData. With our help you will have a smooth, seamless implementation process, allowing you to reap the benefits of CPQ as soon as possible. Contact us today to get started!