The sales process needs to be as smooth and efficient as possible in order to close deals with new clients and maintain relationships with existing clients. Accurate pricing, discounts and terms, organized and efficient quoting and streamlined renewals are vital in building and maintaining your sales funnel. Fortunately, Salesforce CPQ makes this process easy.
What Is Salesforce CPQ?
Salesforce CPQ, formerly Steelbrick, is designed to configure price quotes quickly and easily at the click of a few buttons for clients. CPQ makes it easy to create accurate quotes in real time by pulling in client data and pricing options in one centralized platform. CPQ ensures that sales quotes are aligned with current customer data so that the quote is ready when your client is ready, removing delays and making the sales process fast and painless.
The Benefits of Salesforce CPQ
With Salesforce CPQ, everything you need to generate quotes for clients is centralized and available in seconds. This provides a number of powerful benefits including the following:
Speed – One of the biggest advantages of Salesforce CPQ is that it helps your company close deals more quickly by optimizing and automating the quoting and contract process. Salesforce CPQ accomplishes this by automating the quoting and contract process and keeping current customer data like terms, pricing, and discounts. CPQ also automates the approval process, removing the waiting period associated with traditional sales operations approvals. This in turn allows more deals to be closed and increases the odds of a successful deal by removing a key time period of uncertainty when clients may have second thoughts.
Accuracy– By their very nature contracts are meant to be accurate and to lock both parties into an agreed upon business relationship. This means that if there are errors in the sales quotes used in the contract, this can result in significant lost revenue for your company or a loss in confidence by the client if the contract does need to be changed at the last minute. Yet mistakes are almost bound to occur when sales people spend hours manually creating quotes and configuring them to the client. By automating this process with Salesforce CPQ software, many of the most common human errors can be eliminated. Additionally, by accessing the most current customer data from Salesforce CPQ, sales reps can provide each client with the correct products and services and with the right promotions and pricing.
Personalization – In today’s age of connectivity and social media, clients have come to expect a personalized experience with the companies they do business with. This is particularly true at high value contract levels. Your sales quotes must take into account all the unique factors that affect your client and your relationship with them. Salesforce CPQ greatly increases the ease of personalizing your sales quotes and helps you quickly and easily see all the factors that may go into pricing considerations. Salesforce CPQ also provides sales reps with key insight into which products and services a given client might be most interested in, creating valuable upsell and cross-sell opportunities for existing clients.
Efficiency – The net results of reducing errors and contract lead time and personalizing your sales quotes is an overall more streamlined quote and contract process. Quotes can be performed in real time with high accuracy, avoiding the need to get back to clients and ensuring that the sales process continues smoothly and builds on the momentum you have established in your meetings or presentations. With Salesforce CPQ software, if your client is ready to close the deal, you will be too!
Increase Sales – The primary goal of Salesforce CPQ software is to help companies increase their sales and profitability. Salesforce CPQ delivers on this goal with its powerful options and features and unbeatable performance. According to data from Salesforce, companies that implement CPQ software increase their average deal size by a massive 105%!
The Refinery Source is committed to helping our clients find smart business solutions that make sense for their companies. Salesforce CPQ is a great addition to a variety of sales teams across many different industries and sectors. We can help you determine if Salesforce CPQ is right for your company and identify the next steps for implementation.
By Kevin Knight