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Originally Posted On : https://itequality.com/2023/06/27/salesforce-cpq-what-are-the-best-benefits-for-your-business/

 

 

Salesforce CPQ can help you in many ways. For example, convincing a lead to move into your company’s sales process is challenging. However, it’s even tougher to entice them to wait until the sales cycle ends. You must know how to keep them interested through each phase at a specific speed. It explains why you need to optimize each process, especially the part where you close the sale.

This tool can eliminate setbacks like outdated price lists, erroneous customer data, repetitive routine tasks, and human errors. The rest will be smooth sailing if you can simplify your customer-related processes.

 

What is CPQ by Salesforce?

It is not just another CRM. It functions like a knowledge base where sales teams from different locations can access centralized information. Any authorized team member can check customer data, available prices, services, and products. You’ll have real-time information to make business decisions if you’re the decision-maker.

Salesforce has a lineup of tools that help businesses streamline their operations. These native tools can create highly personalized and more accurate quotes. If these manual tasks are eliminated, your sales reps will be more productive. They will have more time and energy to deliver exemplary service.

9 Proven and Tested Advantages of Salesforce CPQ Process Flow for Businesses

If you’re unconvinced of the advantages of this tool for your business, consider these proven and tested benefits.

1. Automate Redundant Tasks

With smart in-built filters and rules, it ensures that selected products for quotations are tailored and related to your customer’s needs. You can view these prices and even set a specific discretionary price. All you have to do is define the product and generate a PDF detailing the quote.

2. Streamline the Quote Creation Process

When your client reaches the sale or negotiation stage, you must present them with the quote to keep their attention. You can configure the CPQ tool correctly to generate error-free data.

3. Increase in Sales With Personalized CPQ Salesforce Quotes

Clients want personalized quotes because they feel they receive special treatment. It’s up to the company to gather relevant information and make the quote reflect the specific client’s needs. With your error-free quotes, you’re meeting and exceeding customer expectations.

4. Generate More Contracts and Close More Sales 

A quote is considered a final document because this is where the client affixes their signature if they agree to the price and terms. With Salesforce CPQ pricing and quote templates, you can create impeccable documents with proper formats and sections you can reuse in other contracts. You can also add signatures that validate the contract content in advance.

5. Increases Sales Team Productivity

With an automated quotation process, your sales reps will spend less time drafting your contracts. It gives them time to focus on attracting new customers and retaining old ones. Aside from that, Salesforce CPQ supports guided sales, showing every customer the most suitable product offers. With this, you’re essentially favoring cross-selling opportunities.

6. Automated Subscription Renewal Management

After closing each sales translation, the administrator defines the tool’s rules to track specific products within the contract, subject to subscription duration. It makes it easy for customers to receive contract renewals before their subscription ends.

7. Seamless Integration With CRM

If your tools can integrate with other productivity-enhancing apps, your team’s performance doubles or triples. This reason is why Salesforce CPQ consultants proactively suggest CPQ to their clients. With this tool, you optimize and standardize the whole sales cycle, from attraction to the sales closing stages.

Data standardization also offers teams an organized view of contracts, opportunities, products, and customers. With this function, teams reduce errors, increase revenue, and improve efficiency.

8. In-Platform Centralization 

With the quote-to-cash process, centralization happens within the same platform. If you use Salesforce CPQ and billing add-ons, your organization has complete control from the quoting to the payment stages. As soon as your rep finalizes the quotes, they’ll post them to CPQ.

With the billing feature, you get a copy of the order, move to invoice generation, payment receipt, and revenue recognition completion.

9. CPQ as a Subject Matter Expert (SME)

When you utilize CPQ as an SME, you allow it to contribute to the deal’s increasing value. A good client negotiation involves knowing the client’s problems and offering solutions beyond their expectations.

A Salesforce CPQ training includes the usual technological knowledge. However, salespeople can’t be SMEs, no matter how prepared they may be. As such, it’s advantageous that CPQs design rules that can create packages and price combinations. With this, customers have an array of options that fit their needs.

Impress Your Customers With Exemplary Service

Going above and beyond for your customers may require more effort and resources. However, the return will also come in the form of closed sales, repeat buyers, and continued patronage. With Salesforce CPQ and ITequality, we can do this and more for your valued guests.

Talk to us today, and let’s brainstorm with our CPQ and Salesforce experts. We will show you how these tools can benefit your business. Our years of comprehensive industry experience and our client’s feedback can ensure that we mean business. Get a free case estimate now.