May 6, 2021
Every seller has to face challenges while generating quotes for complex products for a wide range. This case is more common for companies that have high-value products in the industry. Sales representatives in typical industry verticals need advanced product knowledge to create an accurate quote for the product. This can be very time-consuming to generate manually. That is why companies are starting to rely on Configure Price Quote (CPQ) solutions, preferring Salesforce CPQ for that.
As sales representatives start working with Salesforce CPQ, they need to know the right means to use CPQ in sales to improve the process. It is essential to know the tool’s ins and outs to ensure you’re efficiently using it.
To make CPQ more effective, Salesforce even brought many new releases related to it in the Summer ’22 release of the year 2022, like Subscription Management, to streamline the process of selling, invoicing, and payment collection. Along with this, Einstein Collections enabled prioritizing unsecured invoices on the basis of late payment history.
Here we have listed ways the sales team can use Salesforce CPQ to improve the sales process and profits.
If you are using Salesforce CRM in your company to monitor leads and improve customer relationships, adopting the native Salesforce CPQ software would not be a brainer for the representatives. They don’t need to go through the new software, which saves them time. They can allocate this time to close more deals and concentrate on the accuracy of quotes and proposals they’re generating. This will be possible as they will be handling an opportunity from start to finish on the same platform.
You can consider hiring a Salesforce consulting firm to assist you in rolling out the CPQ implementation to meet your needs and get your sales team acclimated to the system quickly.
Salespeople can lose their momentum and sense of urgency when they take hours to configure products and generate quotes for prospects. This can end up delaying closure. Salesforce CPQ admin can help to configure products according to business rules and logic and store them in one location, making it easier to update when needed. Salesforce CPQ helps generate and send quotes within mere minutes, thus reducing the time required to close deals.
Salesforce CPQ provides sales representatives the insights to discover what’s effective for sales and which areas need improvement. CPQ gives the team a strategic view of all the sales activities, which adds more business intelligence to every quote generated.
Salesforce CPQ allows you to access custom revenue reports and dashboards to easily identify the most profitable customers and top-spending customers.
The operational costs of the sales process need to be decreased to augment your overall revenue. Using CPQ can dramatically improve the operational efficiency of your sales team, which in turn helps in cost savings. Using one fully and natively integrated platform (i.e., Salesforce) can enhance internal communications within your company while improving the efficiency of your sales team.
To achieve success in sales, it is important to ensure that your sales representatives and prospects can go through the sales cycle in the field or on the go, virtually, or through any handheld device. Being a cloud-based platform, CPQ provides increased visibility across the sales process as it is accessible from all devices, anywhere, and at any time. Your sales representatives should actively engage with the prospect wherever they are to build a customer-centric brand.
Salesforce CPQ isn’t just sales software but a platform that helps the entire company streamline complex sales processes. Implementing CPQ can help define sales as a process and helps your team maximize their time and resources, optimizing the overall sales. Give your sales team this efficiency by getting them on CPQ with the help of our Salesforce implementation partners, who will handle the complete processes, from implementation to user adoption.