CPQ – Breaking Organizational Silos to Enable Seamless Quoting
Nathan is a sales rep at a well-known electric vehicle manufacturer. Recently, his company received a request for a quote from a prospective customer, a large state-owned road transport firm. The firm was interested in buying 200 electric buses. Nathan began the process of creating a quote for the prospect using his company’s quote template, an Excel workbook containing 20 sheets. Most of these sheets had to be filled in and approved by various departments of the manufacturer. This resulted in an inordinate delay in the preparation of the quote. Making things worse, the prepared quote had to be thoroughly checked by Nathan’s manager, and this caused a further delay in sending the quote to the prospective client. Nathan was very worried the prospective customer would be frustrated by the huge delay and switch over to one of his company’s competitors.
Does this story sound familiar? Are you too facing issues with departments in your company that operate in a siloed manner? Is the lack of proper coordination between the departments preventing you from developing quotes in an efficient, timely manner? You’re not alone.
Most salespeople of large B2B organizations face a similar problem. They have to ‘get through’ at least 2 or 3 silos, before they can get their job done. People who have been serving these companies for a long time and those with an innate ability to navigate complex organizational structures can ‘work around the system’. Unfortunately, very few fall into these categories.
So, how can this problem be resolved? You must use a robust Configure, Price, Quote (CPQ) platform.
What Is a CPQ System?
A CPQ system enables businesses to come up with very precise quotes rapidly, with minimal effort and expenditure. CPQ platforms help companies streamline their Quote-to-Order (QTO) processes, thereby helping the organizations maximize their selling efficiency.
How Does a CPQ System Ensure Visibility and Efficacy of the Quoting Process?
A good CPQ system helps share quoting information across the organization and partner ecosystem in real time. It allows organizations to implement a well-defined quote structure, and this goes a long way in eliminating errors. It also helps identify up-sell and cross-sell opportunities at the time of quoting, ensuring:
Creation of technically-valid quotes quickly using AI-enabled guided-selling tools
Optimization of revenue for all departments/divisions of the company
Development of sophisticated deal scenarios to pinpoint and prevent revenue leakage
Creation of a single, comprehensive data model to facilitate easy maintenance of product catalogs and price books
Automation of the quote-generation process, thereby improving quoting accuracy and reducing costs
Closure of deals quickly by streamlining approval workflows and ensuring total transparency
Generation of dynamic quotes that allow insertion of specific terms using a library of clauses
Provision of timely incentives to the sales team to ensure the presentation of aggressive proposals
As you can see, a good CPQ platform helps companies enhance their quoting efficiencies in a big way, thereby enabling them to sell more effectively. Solunus' Salesforce revenue cloud services assist enterprises in ensuring trouble-free QTO cycles and closing more sales effectively in a given period of time. Our rich experience serving organizations in diverse industrial sectors and unparalleled expertise of CPQ tools enable us to deliver the right solution to meet your unique quoting requirements very efficaciously.
Hope you liked this post. How do you ensure smooth quoting cycles? We’d love to know.
Solunus is a dedicated Salesforce partner, based in Dallas, Texas. The company provides high-quality, affordable Salesforce services that empower you to achieve your growth goals and cement relationships with your clients. Our strong emphasis on comprehending the unique requirements of our customers and unrivaled expertise of the Salesforce platform allow us to deliver the perfect solutions that create the best value.