How Your Business Can Benefit from Using CPQ Software
With the stiff competition and uncertainty that characterizes the business world, businesses are increasingly looking for new and effective ways to improve customer care. Today, any business that wants to remain relevant and stay ahead of the competition has to win new clients while retaining existing ones. Thanks to technology such as Configure Price Quote, commonly known as CPQ software, companies are in a better position to drive revenues and profits as well as ensure customer satisfaction.
Studies show that customized product offerings are increasingly replacing standardized offerings as the world continues to change. The effect has been a burden or sellers and a longer period for customers to get quotes. With such effects, there is a real possibility of customers walking away when a seller takes long to turn out a quote. With this software, the process of creating a quote is significantly speeded-up, easing pressure on sellers and promoting customer satisfaction.
More accurate pricing
In the business world, pricing of products plays a major role in keeping companies afloat. While setting the prices too low may eat into the profits of the business, companies that set high prices risk driving away customers. As much as sellers may try their best to strike this delicate balance, using software will speed up the process. The technology embraces set pricing models to deliver accurate prices at all times.
Shorter sales cycle
‘Time kills all deals’ is an old selling adage that holds true to this day. When customers request a quote, they will mostly expect feedback within the shortest time possible. If the quote process is unnecessarily long and unpredictable, the sales cycle will also be long. Since this may work to discourage customers, the software was developed to deliver quotes right away, a factor that will go a long way in helping you stay ahead of your competitors.
With the made-to-order product offerings that are taking over the business world, you may need several people to handle the quoting process. Getting the relevant software to handle pricing rules will allow you to put these resources to handle tasks that are more valuable to the company. By deploying relevant skills to the right department, there are high chances that you will realize higher productivity.
Improved brand awareness
One of the reasons why marketers spend a considerable amount of time promoting a brand in markets is because the brand is the promise that the company makes to customers. In the same way, every single quote will either take away or support this promise. By using CPQ software, your business will achieve consistency in pricing.
This list is by no means exhaustive since CPQ software can help your benefits to realize numerous benefits. Termed as a transformational technology, any business that is keen on realizing high Returns on Investment in today’s world should consider this solution.