Salesforce CPQ, or Configure, Price, Quote Software by Salesforce is a sales tool for companies to provide accurate pricing with any given product configuration scenario. CPQ applications take into account optional features, customization’s, quantities, and discounts, allowing sales reps to quote prices quickly and accurately. Salesforce CPQ training gives your sales team easy to use software, available on any device due to it’s cloud based platform. Hosted within the Sales Cloud platform giving you a direct link with your CRM to make the most impactful sales decisions.
How can CPQ increase the bottom line?
While many companies don’t have CPQ software yet, those that do are seeing impressive positive results in time, deal size, quote accuracy, and sales processes.
CPQ reduces wasted time.
Simplifying important processes like submitting proposals are essential to making sales processes lean. Because Salesforce CPQ online training is integrated with Salesforce CRM, the information sales teams need is available on their mobile devices. The process of delivering quotes becomes a lean, efficient activity. “Spending time developing or providing the wrong product or service is a tremendously wasteful use of time and resources,” Pryor explains. “It is not a good way to become a trusted supplier.
Using CPQ as a Subject Matter Expert identifies specializations, add-ons, and options to increase deal size.
customized CPQ application could provide for your customers:
Ask the right questions and provide a comprehensive needs analysis
Understand the opportunities to maximize the deal size through cross-selling and upselling
Identify the features that set you apart from your competition
Determine the expected ROI, thus minimizing discounting
Address any questions or objections
Record what happened during the sales call
CPQ speeds up the process.
A quicker sales process is key to the new landscape of selling. Pryor commiserates with sales people who think they’ve landed the deal only to realize unforeseen circumstances will stall or even kill it. Sales people may realize, says Pryor, that the planned budget is no longer available, requirements have changed, reorganization is imminent, or the decision maker has left the company.
Adding CPQ to CRM increases profitability.
Adding CPQ to your existing CRM results in more profitability-both in increased revenues and increased efficiency. Dickie cites a CSO study showing that implementing CPQ tools showed significant increase in company revenue.Similarly, Salesforce CPQ online training Hyderabad users are seeing significant return on their investments. Politico reports a 17% average revenue contribution and Mitsubishi shows a 50% increase ROI in quote-to-cash.