#CPQ Pricing

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KBMax CPQ (Configure, Price, Quote)

KBMax CPQ Configure, Price, Quote is changing the e-commerce market. CPQ can handle complex business rules, 2D and 3D visualization, real-time pricing, CAD automation, and website embedding. With the help of CPQ, you can shorten the sales cycle and more effective production processes. To know more, visit kbmax.com

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How The Best CPQ Software Boost Business Productivity

Enterprise software with CPQ offers numerous benefits for businesses of all sizes. Firstly, it streamlines the sales process by enabling sales teams to configure complex products and services accurately and efficiently. With configure price quote software, sales representatives improve sales productivity and faster quote generation, allowing businesses to respond to customer inquiries promptly. 

The best CPQ software enhances the overall customer experience by providing real-time quotes, reducing the time taken for negotiations, and enabling faster order processing.

Moreover, enterprise software with CPQ enables businesses to maintain consistent pricing across different channels, preventing revenue leakage and reducing pricing errors. It also provides:

Advanced analytics and reporting capabilities.

Allowing companies to gain valuable insights into sales performance.

Customer preferences.

Market trends.

Ultimately, enterprise software with CPQ  empowers businesses to streamline their sales operations, increase efficiency, improve customer satisfaction, and drive revenue growth.

5 Ways configure price quote software Benefits Businesses

Here are five ways the best CPQ software can improve an organization's efficiency by accelerating contract closings:

Streamlined Sales Process

The best CPQ software automates and simplifies the complex sales process, eliminating manual errors, reducing administrative tasks, and increasing the overall speed of sales cycles. By integrating product configuration, pricing, and quoting into a single platform, sales teams can quickly generate accurate quotes, ensuring consistency and reducing the time spent on manual calculations and paperwork. This streamlined process allows sales representatives to focus more on building customer relationships and closing deals, leading to increased productivity.

Enhanced Sales Efficiency

Efficiency is a critical factor in driving business productivity. The configure price quote software optimizes sales efficiency by providing sales teams with real-time access to product catalogs, pricing information, and configuration rules. This enables sales representatives to create customized quotes on the spot, eliminating the need for back-and-forth communication with product specialists or pricing teams. With a user-friendly interface and guided selling features, the best CPQ software empowers sales teams to navigate complex product configurations effortlessly, resulting in quicker and more accurate quotes.

Improved Quote Accuracy

Quote accuracy plays a vital role in reducing costly errors and avoiding potential customer dissatisfaction. Configure price quote software ensures that every quote generated is accurate and consistent by automating pricing calculations and applying predefined business rules. Sales teams can access up-to-date pricing information, including discounts, promotions, and bundling options, eliminating the risk of quoting outdated or incorrect prices. By minimizing errors and delivering precise quotes, businesses can enhance their credibility and customer satisfaction, increasing productivity and repeat business.

Cross-Selling and Upselling Opportunities

The best CPQ software provides valuable insights into customer preferences, historical purchasing data, and product compatibility. This data empowers sales teams to identify cross-selling and upselling opportunities during the quoting. Sales representatives can maximize revenue per deal by suggesting complementary products, upgrades, or additional services that align with customer needs. CPQ software enables sales teams to capitalize on these opportunities seamlessly, without manual research or extensive product knowledge, resulting in increased average deal size and improved overall sales productivity.

Integration with CRM and ERP Systems

CPQ software's integration with Customer Relationship Management (CRM) and Enterprise Resource Planning (ERP) systems further enhances business productivity. The integration allows seamless data flow between the different platforms, ensuring that all relevant customer and product information is readily available to sales teams. This integration minimizes manual data entry, eliminates duplicate efforts, and provides a holistic view of customer interactions and transaction history. With a comprehensive understanding of each customer's needs and preferences, sales teams can offer personalized solutions, fostering more robust customer relationships and driving business productivity.

Conclusion:

The best CPQ software is a game-changer for businesses aiming to improve productivity and efficiency in their sales processes. CPQ software empowers sales teams to focus on value-added activities and achieve higher sales volumes. Embracing CPQ technology boosts business productivity and enhances the overall customer experience, leading to long-term growth and success. Contact Kbmax CPQ software vendors for the successful implementation of CPQ software. Check KBMax CPQ Software Reviews & Ratings | 2023 to learn more about our services and offerings. 

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6 Best Practices for Implementing CPQ Systems

For most manufacturers operating without CPQ software, generating instant and accurate quotes can be a real struggle. This is because the data required to prepare accurate quotes are frequently dispersed across multiple siloed teams that use different systems.

You can, however, significantly improve your sales cycle by implementing robust CPQ software that automates sales, connects departments, collects data from across your organization, and eliminates errors.

As great as this sounds, CPQ systems are only as good as their integration, implementation, and application. For a successful CPQ software implementation, you will need the right:

Product design

Set-up

Project strategy

Here are some best practices for implementing a highly effective CPQ system in your organization.

1. Clearly Define Project Goals Internally and with Your CPQ Vendor

To achieve an objective in business, you must start by clearly defining it. One of the main reasons business owners buy a CPQ tool is to improve the sales process, streamline communication bottlenecks between manufacturing and sales, or simply connect with their clients better by giving them access to certain features such as 3D product configuration.

The right CPQ tools have all these key features and can help achieve these objectives if implemented correctly. The best way to do that is to start by clearly defining your goals and the desired outcomes. For example:

Faster sales cycles

Reduced quoting errors

Enhanced sales productivity

Increased customer satisfaction

These goals or objectives must be SMART: Specific, Measurable, Achievable, Relevant, and Time-Bound.

2. Choose Top CPQ Software with the Right Features

High-end CPQ software has a lot of powerful features, including but not limited to the following:

Visual product configuration

Pricing management

Automated quoting

Guided selling

Implementing all the available product features at once can be tempting, but this would be a mistake. For one thing, your team will struggle to master them all. Secondly, your business might only require a limited number of features–anything more will only increase complexity.

The best approach is to focus on the product features you need to meet your defined project goals. Once you are clear about what you want to achieve as an organization, it's easier to prioritize the CPQ software features that will help you get there faster.

Sticking to the stock features built into the product is also advisable instead of customizing your own. The best strategy would be to use the built-in features first and ensure everything runs smoothly and effectively before adding any customizations.

3. Collate Your Data

One of the most significant advantages of implementing CPQ tools into your organizational operations is that it helps to centralize your data. As such, the system you choose will require data from several different sources. 

To get this right, you must ensure that the CPQ system you implement integrates seamlessly with other organizational systems, such as ERP and CRM, whether on-prem or in the cloud. This will keep teams in sync and enable the automation of cross-functional workflows.

4. Configure the Approved Features

After collating the necessary data and installing the approved CPQ package, it's time to configure your chosen features. While these features will vary from one implementation process to another, a few are paramount to each CPQ system. These include:

Product and Pricing Rules: These rules determine how products can be configured, priced, and sold. The best CPQ systems, like Epicor CPQ, have a no-code rules engine, enabling non-technical business users to configure the solution.

Approvals: A complete and accurate quote may go through several departments, depending on your organization. It’s essential for every party involved to understand how the quote process progresses from one approval level to another and to automate approvals where possible.

Quote templates: Formatting your quote templates is one way to ensure uniformity throughout the process and enhance efficiency. You can customize your quote templates with your company name, logo, and terms and conditions. 

Properly configuring these features creates well-defined rules, making the right CPQ environment for your teams to output accurate quotes quickly and efficiently.

5. Proactively Manage the Change and Get Buy-In

The CPQ implementation process should involve the entire organization. Involving every stakeholder in the implementation process will help shed some light on the following:

The necessary features

User experience

Desired outcomes

Stakeholders should all agree on what is an essential part of the CPQ solution and what is considered non-essential and unnecessary for inclusion in the initial implementation phase. Remember to consult customer support. They may not use the CPQ system but interface with customers daily and understand their perspectives and pain points.

6. Test and Track Project Progress

One of the most critical parts of the implementation project is the "User Acceptance Testing" phase. This is where employees and customers are trained on the CPQ tool, test it out, and see if it meets spec and their expectations. Most issues are identified and corrected at this stage before the system is rolled out organization-wide.

Here are some steps you can follow when testing the implemented CPQ system:

Clearly define the testing schedule as well as the timelines 

Identify testing scenarios

Use a corresponding test case for each feature that needs to be explored

Confirm whether the system met business objectives

It's essential to set up a "sandbox" where you will be conducting all the necessary tests on the newly implemented CPQ system. This ensures data-to-day operations are unaffected and vital production data is safeguarded. You can also use this sandbox during demos and training sessions.

Finally, as part of the testing phase, it's necessary to conduct several user satisfaction surveys. These will show you whether or not the new CPQ tool has a positive impact.

You should note that the user adoption process is just as important an implementation step as any mentioned here. If the intended users find the CPQ system challenging, not only will it slow down the return on investment, but they may resist embracing the change altogether. To avoid this, ensure adequate user adoption support regarding training materials, real-life case studies on the positive impacts of CPQ adoption, and user involvement from the beginning.

The Bottom Line: Implementing CPQ Software Solutions Doesn’t Have to Be Challenging

As you can see, CPQ implementation can be complicated, and it often requires the help of a technical CPQ installation expert. However, by following the six best practices above, you can achieve systematic implementation quickly and efficiently, experiencing rapid time-to-value and adoption.

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Quoting Software for Manufacturing: Why Every Modern-Day Manufacturer Needs It

Quoting software can shorten sales cycles by days–even weeks. Productivity increases, quotes are more accurate, and customers are more satisfied. Using manufacturing quoting software improves efficiency, precision, and margins while reducing costs. If you are looking for a quoting software for manufacturing? Check out KBMax! https://kbmax.com/blog/quoting-software-for-manufacturing

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Mastering the Art of Price Waterfall in Salesforce CPQ

Curious about how to refine your pricing strategy in Salesforce CPQ? Explore the concept of Price Waterfall, unravel its intricacies, and discover how to streamline your pricing to maximize revenue. Elevate your pricing game and outmaneuver the competition. Don't miss this opportunity to fine-tune your pricing strategy - read our blog today! Learn more - https://revsolutions.co/blog/price-waterfall-in-salesforce-cpq/

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Web Development Agency Seattle

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Streamlining Sales Processes: A Guide to CPQ Implementation

Introduction: Getting Around in the Complicated World of Telecom Service providers in the quick-paced telecommunications industry struggle to keep track of a wide range of plans, rates, and services. Intricate product configurations and competitive pricing make this challenge even more difficult, and internal approval procedures can impede customer service and erode brand loyalty.

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 Salesforce CPQ: How to Use it for a Sustainable Future

In today's rapidly evolving business landscape, companies are not only expected to deliver top-notch products and services but also to do so in a sustainable and responsible manner. Sustainability is no longer just a buzzword; it's a driving force for positive change. Salesforce CPQ (Configure, Price, Quote) is a powerful tool that can help businesses not only streamline their sales processes but also contribute to a sustainable future.

Understanding Salesforce CPQ

Salesforce CPQ is a Salesforce-native solution designed to help businesses automate and optimize their configure, price, and quote processes. It enables sales teams to generate accurate and professional quotes, improve pricing strategies, and simplify the sales cycle. However, Salesforce CPQ's impact goes beyond just sales efficiency. It can be a game-changer in promoting sustainability within an organization.

The Intersection of CPQ and Sustainability

Reducing Environmental Impact: The traditional manual quote generation process involves printing documents, using resources, and contributing to a company's carbon footprint. Salesforce CPQ eliminates the need for physical documents by generating digital quotes and contracts. This not only reduces paper waste but also minimizes transportation-related emissions since everything can be shared electronically.

Energy Efficiency: By streamlining the quoting process, Salesforce CPQ can help your sales team work more efficiently, saving both time and energy. With automated workflows, you can reduce the number of clicks, tasks, and manual processes, resulting in significant time and energy savings.

Optimizing Resource Utilization: Salesforce CPQ allows businesses to better manage their product configurations, pricing, and quoting, reducing the risk of overproduction or wastage. This optimization can help companies minimize their environmental impact by producing and selling only what is needed.

Remote Work and Reduced Commuting: Salesforce CPQ supports remote work, reducing the need for employees to commute to the office. This shift towards telecommuting has the potential to decrease traffic congestion, lower fuel consumption, and decrease greenhouse gas emissions.

Empowering Sustainable Business Decisions

Salesforce CPQ not only aids in sustainable practices but also provides valuable insights that can inform environmentally responsible decisions. Here's how:

Data Analytics: CPQ generates valuable data related to sales, quotes, and product configurations. This data can be leveraged to make informed decisions about product lines and pricing strategies that align with sustainability goals.

Real-time Collaboration: The platform enables real-time collaboration between sales teams, distributors, and customers. This reduces the need for in-person meetings and travel, contributing to reduced carbon emissions.

Automated Approval Processes: With Salesforce CPQ, businesses can set up automated approval processes, which ensure that pricing and discounts align with sustainability guidelines and corporate social responsibility (CSR) policies.

The Path Forward

Incorporating Salesforce CPQ into your business's operations is a clear step towards a more sustainable future. It optimizes processes, reduces waste, and provides data-driven insights for informed decisions. By embracing this technology, you're not only improving the efficiency of your sales processes but also actively contributing to a greener and more sustainable planet.

As businesses continue to evolve and prioritize sustainability, Salesforce CPQ is a tool that can help organizations thrive in an environmentally conscious world. It's time to bridge the gap between sales and sustainability and make a positive impact on our planet's future.

Embrace Salesforce CPQ, and together, let's create a more sustainable and prosperous future for all.

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Our team of seasoned Salesforce consultants and industry professionals streamlines the CPQ implementation process by minimizing time and complexity. Upon successful implementation, you can expect numerous advantages such as enhanced sales, increased lead generation, optimized pricing, and much more. In summary, Salesforce CPQ can improve business revenue and streamline the sales process in the most efficient way possible.

Looking for Salesforce CPQ implementation. Our step-by-step guide can help implement Salesforce CPQ to streamline the sales process and maximize revenue with ease.

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The Benefits of Integrating CPQ Tools with Your ERP System

In today's manufacturing landscape, it is vital for companies specializing in customizable production to employ an ERP and CPQ package during the pre-production phase. The challenge lies in effectively integrating these two systems. 

Manufacturers can establish a streamlined, digital, and scalable pre-production workflow by seamlessly incorporating our CPQ implementation guide on the integration of CPQ with  ERP to foster a harmonious relationship.

Seamlessly Unifying CPQ and ERP for Enhanced Efficiency

Integrating your CPQ Tool (Configure, Price, Quote) and ERP (Enterprise Resource Planning) systems enables you to merge front and back-of-house processes. 

On the front end, your CPQ resources handle vital tasks such as sales management, pipeline tracking, and generating quotes. Meanwhile, your ERP system manages essential back-end operations like inventory management, production, fulfillment, and invoicing. Despite their separation, these processes heavily rely on data from each other to function optimally.

For instance, your sales team requires real-time visibility into inventory levels and order fulfilment status to carry out their responsibilities effectively. Conversely, your ERP system needs information about sales, pipeline activities, and quotes to accurately manage inventory, fulfil orders, and generate customer invoices. Consequently, constant data exchange is necessary between the CPQ and ERP systems.

Integrating CPQ Tool and ERP automates data exchange, minimizing the risk of human error, accelerating processes, and facilitating bidirectional data sharing. This integration streamlines operations, eliminates manual inefficiencies, and enhances visibility for both sides of the business. With CPQ in place, conversion rates increase by 40%, and deal sizes grow by 105%.

Maximize Efficiency with CPQ and ERP Integration

When skillfully implemented, the integration of your CPQ software implementation guide with ERP (Enterprise Resource Planning) systems brings forth significant advantages:

Increased Efficiency and Accuracy

At the core of CPQ-ERP integration lies the ability to streamline complex workflows, eliminate manual data transfers, and establish a unified platform for managing the entire quote-to-cash process. 

Enhance your business operations by seamlessly integrating your CPQ resources with ERP, apps, and core systems. The key lies in utilizing REST web services, MuleSoft’s universal connectivity layer, or ready-to-use configurations. This eliminates the need for manual data entry, reducing the risk of errors and ensuring data consistency throughout the process. Sales orders generated from CPQ software implementation with ERP systems, enabling smooth handoffs to manufacturing, supply chain, and financial departments. 

Real-time data synchronization between CPQ and ERP systems provides enhanced visibility and control over the entire quote-to-cash process. Sales representatives can access up-to-date product information, inventory levels, pricing, and customer data directly within the CPQ interface. This empowers them to make informed decisions, accurately configure complex products, and provide customers with accurate quotes on the spot.

Improved Sales Performance:

In the realm of sales, the integration of CPQ tool (Configure, Price, Quote) and ERP (Enterprise Resource Planning) systems proves instrumental in enhancing overall sales performance. 

Enhancing Quote Accuracy: 

The integration of CPQ and ERP allows for seamless data flow between systems. Sales reps can access customer and product data from the ERP system, ensuring the accuracy and consistency of information throughout the quoting process. 

Forecasting Future Sales: 

By analyzing patterns, seasonality, and customer buying behaviours. ERP systems utilize historical sales data, market trends, and predictive analytics to forecast future sales. Integrating the CPQ tool and ERP ensures that sales reps can access real-time sales data, enabling them to align their efforts with the predicted sales targets.

Enhanced Data Visibility

Through CPQ-ERP integration, businesses can seamlessly collect, consolidate, and analyze data from various touchpoints, including product configuration, pricing, quoting, order management, inventory, and customer information. This consolidated data empowers organizations to gain valuable insights into their sales pipeline, understand customer preferences, identify trends, and make data-driven decisions. 

This eliminates silos and data discrepancies that may arise when managing multiple systems independently, enhancing operational efficiency and reducing the risk of errors.

Organizations can gain a holistic view of customer interactions, preferences, and buying patterns by combining front-end CPQ processes, such as product configuration and quoting, with back-end ERP functionalities like inventory and order management.

Increased ROI and Scalability 

Through CPQ software implementation with ERP, businesses can quickly generate accurate and tailored quotes, incorporating complex product configurations, pricing options, and discount structures. This integration effortlessly creates CAD drawings, bills of materials, assembly instructions, parts lists, product renderings, and much more with zero input required from engineering.

By eliminating manual errors and streamlining the quotation process, companies can respond to customer inquiries promptly and effectively, maximizing their chances of closing deals. The integration also enables real-time access to inventory levels, pricing updates, and customer data, ensuring that quotes are based on up-to-date information.

CPQ-ERP integration empowers businesses with a unified platform that optimizes the sales-to-production workflow. It harmonizes the front-end and back-end processes, enabling effective collaboration between sales, engineering, manufacturing, and supply chain teams. This alignment eliminates bottlenecks, reduces errors, and accelerates the time-to-market for customized products and services. 

Final Words

Epicor CPQ, when integrated with ERP, offers a comprehensive solution that enables businesses to integrate across multiple platforms seamlessly. These platforms include: 

ERP systems like Oracle, SAP, or NetSuite; 

CRM/CPQ tools such as Salesforce; 

CAD systems like SolidWorks or Creo; and 

PLM software like Propel.

Sales representatives benefit from timely access to critical information, including lead times and delivery statuses, through Epicor CPQ- ERP integrated features resulting in improved customer satisfaction through effective communication. Senior leaders can stay on top of sales and pricing processes, ensuring alignment with business goals. Operations teams can gain insights into trends that help continuously improve processes keeping the organization at the leading edge in the market.

Discover the in-depth KBMax review, covering pricing, pros, cons, and features. Take a closer look and make an informed choice for your business!

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Use CPQ Pricing Software To Generate Quote Faster

CPQ pricing software can be handy for companies with complex products and pricing structures, such as those in the manufacturing, distribution, and technology industries. The software can help sales teams work more efficiently by reducing the time and effort required to create quotes while also improving the accuracy of pricing and ensuring that discounts and promotions are applied consistently.

CPQ pricing tools can help companies increase their sales productivity, improve their margins, and enhance the customer experience by providing fast and accurate quotes.

Why is CPQ pricing Software So Crucial To Your Business Growth?

CPQ pricing software can be vital for your business growth by improving efficiency, customer experience, and sales outcomes. Here are some reasons it can be a critical tool for your business growth:

Faster and more accurate quotes: CPQ pricing software can automate the process of generating quotes, saving you time and reducing the risk of errors. This can enable you to respond to customer inquiries more quickly and efficiently, giving you an edge over your competitors.

Improved customer experience: With faster and more accurate quotes, customers can make decisions quickly, leading to a better experience. Moreover, quoting software can allow you to customize quotes based on customer preferences and needs, making the sales process more personal and practical.

Streamlined operations: CPQ pricing software can integrate with other systems, such as your CRM or ERP, creating a more streamlined and efficient sales process. This can reduce the time and effort required to generate quotes and free your staff to focus on other tasks.

Increased sales: By providing accurate quotes quickly and improving the customer experience, you are more likely to close sales and increase revenue. Moreover, with better visibility into the sales pipeline, you can identify areas for improvement and optimize your sales process.

How to Use the CPQ Pricing Tool?

CPQ integration can be a game changer for your business. Therefore it's essential to use it strategically. Here are some tips for using CPQ pricing software to unleash its benefits. 

Analyze your sales process: First, you need to understand your sales process thoroughly. Identify the critical stages of the process, the pain points, and the areas where you can use CPQ pricing software to automate tasks and reduce your sales team's workload.

Select a CPQ software solution: Research and integrate CPQ that meets your business requirements. Some popular CPQ software solutions in the market are Kbmax CPQ, Salesforce CPQ, Oracle CPQ Cloud, and SAP CPQ.

Configure your product catalog: Configure your product catalog in the CPQ software by defining the product attributes, options, and pricing rules. This will enable your sales team to configure products quickly and accurately.

Automate pricing and discounting: Define pricing and discounting rules in the CPQ software solution to ensure consistent and accurate pricing. This will reduce errors and help you avoid revenue leakage due to incorrect pricing.

Enable guided selling: Use the CPQ software solution to provide your sales team with guided selling tools that help them ask the right questions and recommend the most appropriate products and services to customers.

Integrate with CRM and ERP systems: Finally, integrate CPQ with your CRM and ERP systems to ensure seamless data exchange and avoid data duplication. This will help you maintain data accuracy and improve the efficiency of your sales process.

Conclusion:

CPQ pricing software has become an indispensable tool for businesses that want to streamline their sales processes and improve profitability. By automating the sales quotation process, CPQ software can help sales teams quickly generate accurate and consistent quotes, reduce errors and discrepancies, and ensure that customers receive the most relevant and appropriate pricing options.

Moreover, CPQ integration provides valuable insights into customer preferences and behavior, allowing businesses to optimize their pricing strategies, identify new revenue opportunities, and gain a competitive edge in their market. If you want to integrate KBMax CPQ Pricing tool, contact our CPQ experts for efficient  CPQ integration. 

[cpqsolution]

Why Must Manufacturers Adopt CPQ for E-commerce by 2023?

Are you a manufacturer and want to earn a higher ROI in 2023? Then, you have to sell products online. If not, you’re only scratching the surface of what you can achieve in revenue. You’re limiting your reach in terms of where you can sell your products and who you can sell them to because a significant portion of buyers won’t even consider buying from a manufacturer with a high-touch sales process.

However, online selling is not easy for the manufacturer who sells complex configurable products. Letting customers configure products independently seems daunting–a surefire way to create havoc in the engineering department and on the shop floor. But it doesn’t have to be this way.

CPQ for eCommerce streamlines the online sales process by automating much of the configure, quote, and order process. However, the advantages don’t end here. It can also boost conversion rates by providing personalized product recommendations and making it easier for customers to find and buy the products they are looking for. It enhances the customer experience by providing a more intuitive and immersive buying experience, attracting new buyers, and increasing satisfaction and loyalty.

This article will delve deeper into the meaning of a CPQ for eCommerce and how this transformative tech can help boost your business’s bottom line.

About CPQ?

CPQ is an abbreviation  (configure, price, and quote.) It’s a software solution that guides the user through the product configuration process, automatically calculates a price for the configuration, and instantly generates a good-looking and persuasive quote. It’s a game-changer for manufacturers who are struggling to provide an efficient and seamless experience to their customers. 

In recent years, the modern CPQ system has advanced by leaps and bounds. Leading solutions like Epicor CPQ provide far more functionality than their traditional CPQ cousins. They’re designed to make it easy for manufacturers to sell complex products online and off. 

One of the key distinctions between best-in-class and more basic CPQ solutions is how they approach the configuration process. Modern CPQs display configurable products in 3D and let users interact with and configure products visually using a visual product configurator. This process is just like a drag-and-drop that anyone can use. 

Manufacturers can embed their intuitive product configurator into their website, allowing visitors to self-learn, self-configure, and self-serve, all without the help of a sales representative. Constraints programmed into the CPQ ensure every configuration is valid and the back-end sales-to-manufacturing process is entirely automated. This implies that anyone with access to the internet, at any time and from anywhere in the globe, can visit your website and buy products.

How an eCommerce Configurator Helps Your Business

If you’re a manufacturer that sells products with complex configurations, you know that it can be difficult to help buyers choose the optimal configuration for their requirements.

Traditionally, buyers had to rely on a static image of a product or prototype to arrive at a decision. Buyers had no reliable way to analyze the final design, present it to the buying committee, or access configuration information in real-time.

If buyers can access CPQ through your website, they can quickly view and select configurations, obtain a price and quote, and arrive at a decision by themselves. Instead of making follow-up calls and corresponding with prospects via email back and forth, your sales representatives can focus on the strategic components of selling.

Easily Sell Complex Products With Visual Configurator

If your online conversion rate is low, it could be because the buyer is not sure about the product quality and has the inability to understand configurations well enough to move forward.

CPQ systems can push conversion rates by up to 40% (the average for Epicor CPQ customers). The reason? Modern CPQ systems have a built-in visual configurator that allows buyers to view a configuration in 3D, AR, or VR.

An immersive visual experience can have a tangible impact on the buyer’s perception of your product and eliminate the friction buyers experience when buying a product from a manufacturer for the first time. Buyers can examine products closely from every angle until they’re 100% sure of their choices.

Both buyers and sellers are always aligned with CPQ for eCommerce.The configurator creates a sort of visual contract–The buyer can be confident they’ll get what they ordered.

Visual configuration lowers refund requests while also increasing sales. According to the B2B Buying Process report from Sapio Research, the most common errors causing B2B buyers to return a product are.

Incorrect production selection (29%)

Incorrect products displayed (28%)

With visual product configuration, the above rarely occurs.

Enabling Healthy Profit Margin

Accurate pricing always plays a vital role in any business, but it can be challenging to quote buyers quickly and accurately using traditional methods. This is where a configure price quote (CPQ) tool comes in. A CPQ ensures that your quoted prices are always precise,  helping you to save from embarrassing consequences and shrinking profit margins.

When you use CPQ for eCommerce, your online experience is automated with CPQ pricing. Visitors interacting with your configurator get pricing feedback in real-time. They click on a different part or change a dimension, for example, and their price updates automatically. This gives them all the information they need to optimize their configuration in line with their budget and place an order on the spot.

The finest CPQ solutions dynamically alter their prices in response to both internal and external factors, such as the cost and availability of parts, current demand, and price competition. Without making manual adjustments, you can confidently provide your customers with accurate and competitive pricing.

Empower Automation, and Efficiency

Most modern business tools are cloud-based. Integrating your cloud-based solutions allows them to exchange data and update records without manual work. As per Gartner predictions,  over 95% of new digital workloads will be deployed on cloud-native platforms by 2025 for a good reason–the cloud offers tons of efficiency.

Cloud-based CPQ tools provide endless integration opportunities. First and foremost, they integrate with your eCommerce platform, allowing you to embed your visual product configurator into your website and take orders. However, they also blend with your ERP (e.g. CPQ for SAP ) and CRM, helping to incorporate the user interface experience and ensure users are always working with the most up-to-date information ((prices, inventory, lead times, etc.)

CPQ integrates with downstream engineering and production floor systems too. CAD integration can have a massive positive impact on your engineering department. Just like CPQ auto-generates quotes, it can also set up CAD files for configurations, saving hours of bespoke engineering and allowing engineers to focus on more meaningful and innovative tasks.

Earn Higher ROI with CPQ for eCommerce

CPQ for eCommerce opens multiple ways to improve profitability. It helps you sell more by improving conversion rates, earn more by accurately pricing configurations, and save more by increasing the efficiency with automation.

If you select the right system, then there is a higher chance of getting similar returns. Go for a CPQ system that offers the best-in-class feature set, including a visual configurator, dynamic pricing, and the ability to integrate with ERP, CRM, CAD, and more.

[revsolutionsco]

Price waterfall in Salesforce CPQ - Blog

Elevate your Salesforce CPQ game with our game-changing blog on Price Waterfall! Discover the strategic nuances of dynamic pricing, workflow optimization, and revenue maximization. This is your key to unlocking a new era of sales success. Dive in now and transform your Salesforce CPQ approach! Read Blog - https://revsolutions.co/blog/price-waterfall-in-salesforce-cpq/

#SalesforceCPQ #PriceWaterfall #SalesTransformation