5 Ways CPQ Companies Can Benefit From CPQ Configuration

CPQ companies can change the way you do business. Best CPQ tools have the potential to achieve whopping returns. As per reports, when a CPQ system is used, 26% more sales representatives meet their quota.

Many manufacturers and retailers are dealing with hundreds of problems due to low productivity. Especially when it comes to complex product producers, the situation becomes worse. All the solutions to your problem are hidden under the CPQ sales software.

CPQ is an abbreviation for Configure, Price, Quote. This business software solution is created for sales teams to deliver accurate product selections and costs. Its advanced features help sales representatives to enhance their productivity and close lucrative deals. 
Here we’ll explore the five ways CPQ companies can benefit from CPQ Configuration. So let’s dive in!

5 Ways CPQ Companies Can Benefit From CPQ Configuration

1. Reduces Order and Quoting Errors

As a manufacturer, we always make mistakes such as wrong dates, signatures, or names when we manually monitor many bids and contracts. But over time, these mistakes build up, delaying the sales cycle and giving your clients a poor impression.

But with top CPQ Companies configurator software, manufacturers can eliminate human mistakes from their quoting processes and drastically lower errors and the number of quotation modifications per customer. From automatically creating quotations to managing the billing, every feature is integrated into CPQ technology that helps sales representatives to smoothen the process and eliminate errors. 

2. Simplify the Complexity 

CPQ technology perfectly fits you if you’re struggling with a complex sales process. As per research, With CPQ, sales representatives have reduced the sales cycle by 28%. This software frees sales reps from manually calculating price estimates for each prospect, which increases sales effectiveness and reduces lost time and productivity.

3. Seamless Experience

The key to the success of any business is providing better customer satisfaction. But a complex product producer constantly struggles with customer satisfaction because they cannot explain their product's significance due to its intricacies. With the visual configuration, producers can solve this problem. This feature of CPQ Technology allows customers to clearly and intuitively optimize every product feature,  dispelling any questions users could have about the product and services. Moreover, it also helps reduce support costs because producers can deliver the right product at each stage of the buying process. 

4. Personalized Service

Offering personalized service to each individual is not possible for sales representatives. Especially when complex product producers offer various types of products and services. But CPQ technology provides a solution that allows you to offer a personalized experience to each customer. 

With CPQ sales software, you can create a quotation tailored explicitly for each client. If a customer wants to make modifications or if any discounts are available, a salesperson can update the quote in real-time.

Moreover, sales representatives can select from various pre-made or customized quote templates, create attractive PDFs of your quotes, and send them to clients.

5. Higher Return Of Investment 

One of the finest advantages of integrating CPQ into your business is that it aids you in gaining higher portability by simplifying the selling process.  CPQ companies provide an intelligent quotes option through its top-notch software. With this tool, sales representatives build quotes in minutes, and the estimate is immediately sent to the required individuals for approval, cutting down on waiting time even further.

Additionally, this CPQ configurator enables you to crack more deals by smoothly swapping from the sales process to the purchase. Manufacturers can quickly configure items using CPQ. It helps in setting pricing and taking advantage of bulk savings. This automation gives customers confidence and makes you appear to be an actual sales professional.

Conclusion: 

The way CPQ sales software demand is growing in the market, it's clearly visible how CPQ can reshape our businesses. 

It helps in the complex task of configuring products and other day-to-day business activities, which enhances the sales team's efficiency. 

If you are still relying on old-time software, it's time to revamp your organization. The best CPQ companies, like KBMax, provide a bespoke CPQ solution that enables producers to streamline their product configuration process and improve overall efficiency. With the cutting-edge rule-based engine and real-time validation tools, KBMax Configurator ensures that each configuration is correct and complies with all relevant specifications.

For our CPQ demo, get in touch with KBMax CPQ specialists. Our team is always ready to provide consultation related to CPQ software.