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The Importance of CPQ for Sales Growth

The job of a sales rep doesn’t end once a customer makes a purchase decision. B2B sales are highly competitive, and the demand for specialized and customized products is growing. Buyers are no longer interested in a one-size-fits-all product or service; rather, they seek personalization to fit their unique needs. This can lead to complexity in the sales process for sellers when it comes to pricing. Rather than face complexity, many B2B SaaS companies are adopting configured-price-quote software to streamline the sales cycle. Continue reading to learn more about CPQ visualization software.

What’s CPQ?

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Configure-price-quote (CPQ) software is used by sellers to generate accurate quotes for complex and configurable products. Implementing CPQ results in a sales cycle that’s more efficient, productive, and successful. This system accelerates the product configuration and proposal process, reduces human error in quotes, and helps sales reps establish a personal connection with customers while providing a great buying experience.

How It Works

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Configure-price-quote increase sales productivity and velocity. Configuration is the first step of this software solution. Businesses have shifted to offering buyers customized solutions, experiences, and products that better meet their needs. This complex configuration is great for buyers but challenging for sellers. CPQ software takes the challenge out of complex configuration by finding cross-selling and upselling opportunities and removing human error when configuring exact product specifications.

Complex configurations come with complex pricing structures. You can’t set a predetermined price on a customizable product before configuration. This means the sales team is tasked with appropriately pricing customized products and services in a reasonable turnaround time. CPQ software uses artificial intelligence to detect customer buying behaviors and determine how much buyers are willing to pay. This allows you to offer a reasonable and personalized price that’s profitable.

Once configuration and pricing are determined, the sales reps need to send customers a final, accurate quote that details the purchase. Smart buyers request multiple quotes from multiple vendors, which means time is of the essence when delivering a quote. CPQ software allows you to generate personalized, accurate quotes that can be easily reviewed and updated as needed.

The best way to help customers bring their product design to life according to their specifications is to use CPQ visualization software. Configure One’s product visualization software improves the customer experience by allowing them to engage with prototypes made according to their specifications in real-time. Animations allow customers to see how the final product will work, and you can include product snapshots in the price quote. Seeing the product design physically and understanding how it will work reduces production errors and saves money.

The visual product configurator provides interactive, real-time 3D CPQ visualization that assembles prototypes as customers select different options. Real-time 2D CPQ visualization allows for customer interaction without investing in equipment for 3D or CAD. Customers can simply zoom in and out and pan across drawings and make changes as they go. Interacting with visuals ensures a final product that meets exact specifications.

Benefits of CPQ Software

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CPQ software puts the power of automation in the hands of your sales team and streamlines the sales process. Sales reps can focus on building a personal connection with customers and delivering exceptional customer satisfaction. A CPQ system means all potential configuration, price, and discount combinations are automatically created so that the most detailed quotes can be delivered to customers. CPQ software results in the efficient generation of accurate quotes across multiple departments. The key functionality of CPQ is integration with other sales tools such as CRM. CPQ streamlines tedious administrative tasks related to configuration, pricing, and quoting so that sales reps can focus on customer interactions.

CPQ saves your business and sales team time and money. Not having to focus on the CPQ process allows teams to build a strong sales process, evaluate what does and doesn’t work, establish best practices, and determine areas for improvement.

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