The benefits of Salesforce CPQ are immense, but only if the solution is implemented correctly. Here’re five of the many benefits of implementing Salesforce CPQ.
According to research by Salesforce, businesses that deploy its Configure Price Quote (CPQ) solution report 10 times faster quote generation, 95% reduction in approval time, 30% quicker onboarding for new reps, and a significantly faster quote to cash process.
Salesforce CPQ will not only give sales agents the ability to quote quickly, increase growth rate, and eliminate human errors; it will also empower the sales team to create a tailored experience for each customer. However, the accuracy of quotes and quality of customer experience depends on the correct implementation of Salesforce CPQ.
Benefits of implementing Salesforce CPQ
Salesforce CPQ has the potential to empower the sales team in innumerable ways. Here’re some of its many benefits:
Reduced risk of human errors: Most customers will overlook minor mistakes. However, they will not forgive pricing errors easily. Often, customers stop doing business with a company after having a bad experience. By using Salesforce CPQ, the scope for human errors is eliminated from the equation, delivering accurate and updated quotes due to process automation.
Increased Efficiency: By creating the right mix of products for each customer and providing accurate quotes and updated contracts, Salesforce CPQ allows sales teams to focus on nurturing customer experience. Also, the customer data analytics capabilities of Salesforce CPQ allow sales reps better opportunities to upsell, cross-sell, and create accurate forecasting.
Increased Revenue: The most significant benefit that all businesses hope to gain from Salesforce CPQ is increased revenue. According to research, businesses that use Salesforce CPQ have an average deal size 105% larger than companies that don’t use CPQ solutions. Guided selling features in Salesforce CPQ can play an integral role in improving average deal size. By enabling accurate quote generation, improved selling, and increased deal size, Salesforce CPQ helps generate greater revenue.
Enhanced Customer Experience: Salesforce CPQ allows sales reps to generate personalized quotes for the customers, delivering a greater level of customer satisfaction. When customers want to make changes to their orders or when the discounts are applied, the sales reps can create updated and accurate quotes in real-time. Imagine your customers getting instant solutions to their pricing-related queries! They will feel valued and may decide to stick to your brand and even refer your services to their family and friends.
Competitive Advantage: Salesforce CPQ can help businesses build and maintain a competitive edge by streamlining sales processes. The CPQ tool allows businesses to regulate the pricing as per the competition. In addition to enabling streamlined processes and moderate pricing, Salesforce CPQ improves customer experience and personalization, which helps businesses stay competitive.
To survive and thrive in this cutthroat competition, businesses need a system to help sales agents collaborate better and deliver an exceptional customer experience. If you are serious about building efficient workflows, Salesforce CPQ can be the answer to the majority of sales process-related problems and put your business on the path to success.