Let’s face it. Doing business in today’s competitive global environment is not easy, especially for small and medium-sized businesses. Companies need to use every piece of technology that can positively impact productivity and improve their bottom line. The sales team is at the core of revenue generation activities in any organization. We can all agree that sales teams need access to the best tools that help them do their job more effectively and increase revenue. It is also the reason why more and more businesses and investing in CPQ software.
What is CPQ software?
CPQ stands for Configure, Price, and Quote. It aims to streamline the quoting process and enable sales teams to deliver quick, consistent, personalized customer experiences. The most significant advantage of using CPQ software for sales teams is that it offers everything they need to close deals in one place. It results in improved sales productivity, accelerated deal velocity, and happy customers. Read on to learn about the benefits of using CPQ software.
Benefits of CPQ software for the sales team
Improves sales productivity
The average salesperson only spends roughly 33% of the time actively selling. Guess how do they spend their remaining time? Yep, that’s right. They are creating quotes and proposals. CPQ software can dramatically improve sales team productivity by automating manual processes and allowing more time to sell actively.
Improves traceability
We’ve all struggled with sifting through the inbox to find that “one” email. It is a productivity killer, and no one enjoys doing it. Sales teams spend a great deal of time replying to emails and following up on opportunities. A CPQ software can help your sales team track emails into the relevant quotes, giving them complete visibility of every email, discussion, and followups.
Helps to deliver a consistent customer experience
Many businesses still use Microsoft Word and Excel templates to create quotes. While this generally works fine for smaller teams, it is still prone to errors and, more importantly, is highly inefficient. Delivering a consistent customer experience is an integral part of keeping customers happy and winning repeat business. A CPQ software streamlines the quoting process and drastically reduces the time it takes for sales teams to create and send professional-looking quotes every single time.
It makes training and selling easier
Companies that sell configurable products such as furniture or industrial equipment invest a lot of time training their sales reps. However, it is not uncommon for the sales team to make costly mistakes, given the complex nature of such products. A CPQ software can eliminate errors by automatically validating dependencies and resolving conflicts.
Identify and create more upsell opportunities
Leveraging your existing client base to increase revenue is both cheaper and quicker than finding new business. If you have a relatively large product catalog, there is a reasonably high chance that your sales team may be missing out on valuable upsell opportunities. A CPQ platform can automatically propose optional add-ons that might be useful for your customers.
Conclusion
Overall, empowering your sales team with CPQ software is a great decision and helps increase revenue and profitability for your businesses. It not only helps eliminate embarrassing errors but also improves customer experience and retention. If you are looking for CPQ software for your sales team, be sure to check out AccelGrid – an all-in-one platform that has helped hundreds of distributors and manufacturers scale their businesses.
