Salesforce CPQ needs no introduction as of itself. However, if you want to acquaint yourself with it, consider Salesforce CPQ Trailhead. Here, you can learn all the basics about Salesforce CPQ. And you can forge a personalized experience with Salesforce CPQ Cloud Software.
As a software as a service (SaaS), Salesforce CPQ has been instrumental in bringing the digital revolution to the Configure Price Quote.
Salesforce CPQ is a transformative cloud computing technology that has made pricing faster, easy, and more accurate.
Using a smart device, it’s accessible from anywhere. And it has made remote access feasible because no complicated hardware is needed to access its processes.
The result is that it’s less expensive, even though the services provided by Salesforce CPQ are immense.
Salesforce CPQ benefits
Many complexities that hold back B2B businesses from scaling have to do with a lack of technological expertise.
In fact, the more sophisticated the operational complexity of the industry, the more it calls for sweeping technological changes.
Let’s take the case of the manufacturing industry, where a lot of factors from pricing to shipment factor in and the selling is on a larger scale.
Salesforce CPQ streamlines the entire selling process with everything inclined to meet the needs and expectations of individual customers.
For someone more interested in counting the benefits of Salesforce CPQ than the technology itself, here are the top benefits of Salesforce CPQ for the manufacturing industry.
Top Benefits of Salesforce CPQ for the Manufacturing Industry
Pricing variables and product options are two major contributors to the erroneous CPQ process in the manufacturing industry. Salesforce CPQ removes those errors.
What’s wrong with manual CPQ isn’t only errors in quoting and configuring prices but also it’s the time-consuming nature.
In fact, there are multiple factors that preserve the margin for profit that renders the CPQ process painfully slow.
But, Salesforce CPQ equipped with AI capability brings automation to the process and allows sales reps to compile prices without committing errors in calculation.
Salesforce CPQ promises the utmost accuracy in quoting and pricing, forecasts, and furnishes data to improve sales.
1) Avoid loss of revenue due to errors in pricing
Human hands are bound to commit errors when tasked with manually performing the delicate process of price configuration.
Considering the manufacturing industry where factors to be taken into account are many, errors are staggering.
Though on paper it’s just an error in quotes, pricing, or discounting, these could add up to cost a business a large chunk of its revenue.
The solution is the adoption of Salesforce CPQ, which automates manual, time-consuming, and fluctuating tasks.
As a result, sales reps get more time to concentrate on selling.
2) Squeeze profit for your company even if margins are thin
The dwindling profit margins, because of global competition, create what’s called margin pressure.
And for manufacturers, it’s a really bad predicament.
But, technology solutions offer a reprieve to those businesses who already find themselves in the midst of margin pressure.
Implementing CPQ eliminates non-standardized quotes, promotes intelligent discounting, and facilitates smart upselling.
Salesforce CPQ offers sales reps a better understanding of discounts and margins, which helps you squeeze profit for your business out of thin margins.
3) Gain better insights into customers and channels
Taking a traditional or manual route to the CPQ process means missing out on customer data.
As a result, any measure taken to ensure personalized pricing or discounting might lead to nothing.
Knowing your customers is paramount and Salesforce CPQ offers you great insights into customers and channels, helping you understand your customer better.
So, depending on what you want, Salesforce CPQ is there to help you improve Sales, Revenue, or Profit in a highly customizable manner.
A consensus has grown among CPQ users that it enhances sales effectiveness. If you wonder how, here’s the answer.
Enhance Sales Effectiveness with Salesforce CPQ
Enhancing sales effectiveness CPQ is indispensable. Salesforce CPQ software is the best in the business for its immense capacity to scale and grow. It brings market acumen, speed, accuracy, and precision to sales strategies .
Then there’s accessibility, and since Salesforce CPQ is a cloud-based software/application, it offers:
Access from Anywhere
Omnichannel selling is made easy with Salesforce CPQ. Its real-time pricing feature has proved fruitful for B2B eCommerce. One such feature is accessibility.
Accessibility empowers sales teams, as it offers a cross-channel and cross-device access pricing database.
This ensures that selling is integrated across all channels and is consistent and accurate.
Accessing a single product catalog is especially liberating for sales reps who have the freedom to access it anytime and anywhere, and initiate a customizable sales process.
Targeted selling improves sales. And targeted selling implies that sales reps take into account the whereabouts of customers.
Salesforce CPQ, with embedded robust AI technology, offers result-oriented insights into customers.
It aggregates data and turns it into intelligible inputs usable in designing marketing strategies.
Its predictive analytics help delve deeper into customers’ preferences and makes selling all the more fun and rewarding.
Salesforce CPQ Is Intelligent Discounting CPQ
What do we mean when we say that salesforces are intelligent discounting CPQ? Simply put, it means Salesforce CPQ helps implement custom discounts.
It’s not easy to figure out how much to discount. In all its aspects, overt and covert, the discounting process is complicated and hectic.
And delicate too, in the sense that as profit margins plummet, bad discounts could ruin the business itself.
The reductions in the regular price have to be made in the manner where room for profit isn’t closed, or that customer satisfaction doesn’t come at the cost of business.
A balance has to be struck so that both businesses and customers benefit from the discounting process.
Since we know that discounts a) increase sales, b) create brand awareness, c) attract new customers, and d) forge lasting customer-business relationships:
Salesforce CPQ, as a tool, helps businesses create error-free and accurate sales quotes.
Owing to overall Salesforce CPQ Solutions, all inefficiencies are successfully eradicated.
Continuing its legacy of solving challenges that B2B ecommerce was replete with a decade ago,
Salesforce CPQ provides volume discounts with diligence and intelligence. The same is the case with bundle offers, promotions, etc.
Source: Revenue with Salesforce CPQ