How Salesforce CPQ Can Help You To Get The Most Out Of Your Business?
- July 20, 2021
- 7 minutes
According to Salesforce reports, the sales representatives spend around 34 percent of their time remaining engaged with actual sales activities. Unfortunately, they often have to spend 66 percent of their time generating quotes and getting proposals. With the advent of high-end tools for conducting sales activities, sales representatives should not remain indulged in something that is not associated with actual sales. This is why there is so much emphasis on Salesforce CPQ Implementation among sales professionals in modern times.
Providing All-Out Help for Sales Representatives
Salesforce CPQ is a tool that can be helpful for sales representatives in generating quotes regarding orders. The best part is that CPQ functions perfectly in companion with the CRMs, ERPs, and various systems ensuring utmost accuracy. CPQ enables businesses to generate quotes that already programmed rule sets can automate. The quotes generated are thoroughly flawless as it takes discounts, different types of revenues, and other features of the products into account.
Top companies that use CPQ have observed that it can make quite a generation 10 times faster and reduce the approval time by 95 percent. It can make the process of moving to cash from quotes twice faster. So, this is all about CPQ helping in boosting the efficiency of the businesses. The following abstracts throw more light on how Salesforce CPQ Integration can be encouraging for enterprises.
How Can the Salesforce CPQ Be Beneficial For Enterprises?
Below are the top 5 ways how Salesforce CPQ can be helpful for a company in boosting its efficiency by closing more deals in a short period:
1. Superior Accuracy
Salesforce CPQ Configuration boosts efficiency upon integrating different sales cycles, ranging from sales, finance, legal, and even renewals. This restricts the sales representatives from dealing with configurations that can’t be handled through legal means or financial means. With such clarity, the time that would have been wasted in manual quoting can be saved.
Moreover, it can be useful in generating quotes with superior accuracy. The errors can be kept away even before their occurrence, keeping the customers accomplished through the process. One can accurately map the trend of demand and available products through the help of CPQ analytics.
2. Streamlining the Process with Strategic Collaboration and Cutting down Costs
There are many dimensions associated with an enterprise, ranging from sales, finance to legal. Through the help of effective Salesforce CPQ Services, the perfect collaboration between all these can be formed, facilitating smooth communication. Starting from order generation, invoicing, the payment received to auditing, CPQ can make the entire process streamlined. The distinguishing aspect of CPQ is its ability to integrate with ERPs and thus form a bridge between sales and functionality. A combination of CPQ and ERP can lower operational expenses significantly.
3. Boosting Sales Efficacy and Saving Time
As cited above, sales representatives spending around 34 percent of their time with real sales works causes various issues, ranging from lowered efficiency, lower sales, and stretched sales cycle. Salesforce CPQ can streamline the entire process, through which the non-selling activities can be greatly reduced. Through the process, CPQ can flawlessly configure products when the time comes for closing deals and initiating transactions, implementing discounts, and having automated approval for hastening the process. This can boost efficiency and lower time.
4. Greater-Scope of Revenue Generation and Business Transparency
According to Salesforce reports, companies using CPQ software can increase the overall size of the deal by a staggering 105%. CPQ enables the companies to generate the best sales by analyzing the sales funnels and doing profitability analysis to provide financially feasible and effective quotes upon automating the process.
Working in tandem with Einstein Analytics can be helpful for sales representatives, providing them with practicable insights. Insights can be useful in identifying the areas needing improvements. It enables the user to access custom dashboards for identifying prominent customers, effective pricing strategies, and scopes.
5. Providing 24×7 Access
24×7 accessibility and on-time communication are among the crucial factors that help in streamlining the sales cycle. CPQ helps the sales reps have greater exposure all through the sales cycle, through any device, from anywhere. It enables sales reps to offer deals by revenue aim, legal aspects, pricing structures, etc. Moreover, it enables them to deliver quotes, generate reports, and access the dashboard, instantly.
6. Replicating Recruitment Process and Boosting Confidence of Rookies
The interesting aspect about the CPQ is that it can enable the sales team to replicate all aspects of selling, including the recruits. It saves a significant amount of time that would have been wasted to train and make the team members proficient. A rookie managing to maintain utmost accuracy with quotes and facilitating smooth deal closures can strengthen the company from the base level. Through the help of CPQ, it is possible to centralize all the departments and ensure that no detail simply remains within the storage. It makes the entire sales process transparent, at the same time making all equally accountable.
7. No Manual Intervention for Minute Aspects
The minute aspects like a renewal of subscriptions, updating the orders, etc., often would take a lot of time. However, the same aspects can be automated using Salesforce CPQ. Fresh quotes, upgraded norms, a whole range of add-ons can be made part of the contract without manual intervention. These can be used by the sales representatives instantly for the greater satisfaction of the client.
All said and done; Salesforce CPQ can be useful for companies of all sizes to enhance their overall functionality, enabling them to generate larger ROIs. This is why interest among contemporary companies of all sizes to adapt CPQ software has increased significantly over the globe.
With more companies managing to reap the advantage out of the system, specifically being coupled with ERP, it has certainly encouraged sales professionals the most. This is why it is advised that companies who are new to Salesforce CPQ should take the help of a salesforce CPQ consultant to leverage the best for their companies.
Are you looking for a Salesforce CPQ Consultant? GetOnCRM Solutions is a global Salesforce registered consulting partner based in California (USA), with offices in Canada and India. At GetOnCRM Solutions, We help customers to get their CRM off the ground with a professional implementation process catered to their specific needs. Contact us for any Salesforce requirements.