Configure, price, quote (CPQ) software have been around for over a decade, but it’s only recent innovation in CPQ that has catapulted this software to the top. It has caused a revolution in sales optimization letting businesses make the best of an opportunity. A CPQ software is designed to assist companies to automate quoting and proposal process lifecycle. The lifecycle starts from the time a customer provides their needs and ends with a detailed quote to the customer or lead. Generally, the sales department in a company uses this software to speed up the sales process as it improves accurate quoting and customer relations.
CPQ software lets companies pinpoint what a customer needs and give them custom quotes according to their particular needs. Since there are too many factors to consider, a manual project cost estimation is a confusing and challenging task. That’s why CPQ software eases this hardship from the sales team and helps them build an accurate quote quickly.
CPQ Software Transforming Sales Optimization
Even if a business is using traditional means for sales and working fine, a CPQ software can help you counter these situations that might be creeping in:
- Your revenue growth is slowly outrunning your capacity to work
- You’re working towards a recurring revenue stream.
- You have to evaluate your complete sales quotes manually.
- You’ve made and sent incorrect sales quotes to leads.
- You’re on a lookout for better business solutions that can make operation easier.
CPQ tools eliminate all these sales hurdles and help you streamline your business. The process allows you to focus on other ideas to grow your business further.
CPQ’s Main Advantages
Picture this: Your sales rep has a prospect on the line. The sales rep needs to offer configurations, prices or customer options but has to go looking through spreadsheets after spreadsheets to ascertain the correct price ruling to make a quote. Sounds time-consuming, doesn’t it? Meanwhile, a project cost estimation software like QDV can solve this problem for you. QDV lets your sales rep avoid this struggle by following prerequisite conditions. The tool is among the most revered once among significant industries.
QDV is a powerful and versatile estimating tool that is serving commercial contractors and small businesses around the world. It allows you to collect data related to business expenses and store them in a single database. Through the process, it ensures information reliability and easy access for a staff member at all times.
This software can be used to specify all kinds of scenarios, price, discounts and configurations. So, it turns product configurations and other items effortless depending on company abilities. Now, a CPQ can show sales reps how to create a precise quote using templates within a short period. Furthermore, since the CPQ is connected to the mainframe of the company; the quote is sent to the right people for approval.
Using CPQ software like QDV, companies can double profits through preprogrammed processes like:
- Support for multi-currency
- Steady control on pricing and discount
- Steady recurring billing
- Connected approval network and workflow
A CPQ tool or project cost estimation software like QDV is a massive help in sales optimization and streamlining business. The new-age CPQ software has started integrating artificial intelligence, making them even more effective in business processes.