Johann is the IT manager of a mid-sized automotive component manufacturer based in Stuttgart, Germany. Recently, his firm implemented a Configure, Price, Quote (CPQ) system to meet its fast-growing needs. The solution is very robust and comes with a wide range of features. However, Johann soon realized his organization doesn’t need most of the features. But the firm has to pay a huge amount as subscription fee each month for using the system, resulting in a heavy, unnecessary drain on its budget.
Does this story sound familiar? Are you shelling down large sums of money on your CPQ tool even though you only use a fraction of its capabilities? Would you like to move to a cost-effective solution that allows you to pay only for the features you require? You must go in for CPQLite, a novel, cutting-edge product designed to meet your CPQ needs in an affordable manner.
What Is CPQLite?
CPQLite is an innovative application developed by Solunus primarily to cater to the product configuration, pricing and quoting requirements of Micro, Small and Medium-sized Enterprises (MSMEs) with high efficacy, in a very cost-efficient way. The solution runs on the Salesforce platform and is available on Salesforce AppExchange. Unlike several CPQ platforms, CPQLite allows firms to pay only for the features they actually use.
Let’s move on to examine the cutting-edge capabilities of this affordable CPQ solution.
What Are the Features of CPQLite?
CPQLite comes with various useful features that enable you to enhance your quoting efficiency and deliver better customer experiences. These include the following.
A Facility to Create a Single Source of Truth
CPQLite enables you to create and maintain a single source of truth for all products available for sale. The application allows you to include products sold using both one-time and subscription-based revenue models in your quotes. This will go a long way in helping your salespeople come up with quotes faster, thereby increasing their productivity in a big way.
An Ability to Configure Products Rapidly
You can use CPQLite to configure different types of products, including bundled products and subscription-based products. The user-friendly application comes with a powerful bundle configurator, which has a highly intuitive interface, that allows you to quickly configure product bundles. The configurator also enables you to customize bundles to meet your customers' specific needs.
An Advanced Product Search Functionality
Another key feature of CPQLite is its advanced product search functionality. You can search for products using a keyword. For instance, you can type the word ‘flight’ to search for products pertaining to flight automation. You can also search based on a particular product family. Furthermore, you can search for products based on their type viz. standalone and bundle. The powerful search functionality plays a key role in helping your reps find products very quickly, resulting in a considerable saving of their precious time.
A Capability to Price Products in a Highly Flexible Manner
You can configure various pricing models and offer volume- based discounts or discounts on product options. You can also provide different rates of discount for the same product when it is sold as part of a bundle and as a standalone product. For instance, you can offer a specific rate of discount for an iPhone charger when it is bundled with an iPhone and a different rate of discount when it is sold alone. Furthermore, you can sell your products at a fixed price or provide a discount based on a percentage of the total order value.
An Option to Provide Discounts Based on Quantity Ranges
Staying on with pricing, CPQLite allows you to price a product based on a range of quantities. For instance, you can offer a discount of 10% on a purchase of up to fifty units, a discount of 20% when the customer buys between fifty and hundred units and so on.
A Very User-friendly Quote Line Editor
You can streamline your quoting process very effectively using CPQLite. The tool comes with a very user- friendly quote line editor to perform calculations in real time. This means you perform super-precise pricing and adjustments on the spot. You can also clone a quote along with its related quote line items.
A Mechanism to Create Subscription Renewal Opportunities Automatically
CPQLite automatically creates a contract when you close an opportunity, allowing you to keep track of subscriptions and assets without hassles. You can also create renewal opportunities for subscription products. This helps you forecast revenues from these renewals, facilitating development of robust financial plans.
As you can see, CPQLite enables you to enhance the productivity of your sales team in a big way in a very cost-efficient manner. At Solunus, our team of experienced CPQ product specialists will help you leverage the novel solution to meet your unique needs effectively with high levels of affordability. The team has worked with companies of all sizes in diverse industries. This rich experience, coupled with our ‘needs-first’ implementation approach, allows you to deliver the perfect solution that provides the best ROI.
Hope you liked this post. Would you like to give CPQLite a try? Click here to access the tool on Salesforce AppExchange.
Solunus is a leading Salesforce consulting company, based in Dallas, TX, USA. Our proven ‘needs-first’ approach coupled with our unrivaled expertise of the Salesforce platform enables us to provide the perfect solution to help you deliver delightful services to customers and achieve rapid growth.