The sales process has many hurdles to overcome, from identifying and connecting with prospective customers to closing the deal. Determining price and delivering an accurate quote should not be one of those hurdles.
Nobody ever pays full list price. Yet many organizations offer different cost structures to different customers, complicating the sales process right at a moment in the cycle when expediency can be the difference between winning and losing a sale. Configure price quote (CPQ) software automates pricing by assigning rules engines to this part of the transaction, stripping away the red tape that creates unnecessary delays en route to an accurate price tailored to the customer's needs.
CPQ automation has been around many years as a noble idea; however, the cloud now brings an upgrade to the process. Numerous vendors -- native and third-party partners -- offer choices for CPQ integration with Salesforce and competing CRM systems to eliminate the need for sales staff to search for pricing data and manually assemble proposals. These tools typically come with scalable pricing models that can accommodate operations of all sizes.
Another new wrinkle is integration with quote-to-cash (QTC, or Q2C) applications that connect invoicing, payment and contract managing to CPQ. In the near future, artificial intelligence through Salesforce's Einstein coupled with QTC apps promises to help customers predict the milestones a company will need customers to meet through the payment process or how aggressively the collections may have to be on a particular account.
If your organization is looking to upgrade its operations with CPQ software, learn about the latest trends in automating this critical but complex piece of the sales puzzle. This handbook examines those trends in CPQ systems and the ways different CPQ tools connect to Salesforce, while offering an overview on the benefits of integrating CPQ with billing and collections systems.