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There is a widespread notion that Quote-to-Cash operations can be performed from spreadsheets. A few also believe that tools like Salesforce CPQ are only for Enterprise level companies. This is not true. CPQ software takes everything that your sales team needs to finalize their contracts and places it directly at your team’s fingertips – big or small.
Benefits of Salesforce Steelbrick CPQ includes –
Price books, SKU Simplification, and Discount Tiers – made easy: Every Business is unique. A few sell Products, a few Services and others sell both. They also bundle products with services and apply discounts at every stage which goes through an approval process. All these make it more complex and end up having massive Human Errors. Pricing may be based on SKUs/price books and established price lists. In other cases, pricing may be built based on costs, plus mark-up or gross margin. To add to it, there could be subscription and perpetual licensing. The calculations can be extensive and complex. Salesforce.com mentions a study that says 76% of consumers stop doing business with a brand after only one bad customer experience. With CPQ - tiered pricing and discounts are simplified and made error-free with the help of Price books, SKU Simplification and Tiering.
Takes Less Time to Quote: One of the advantages of Salesforce CPQ is the partner portal. This is used by Channel Partners and Distributors. The quotes they create come to you for your approval. You could set it to include Partner Tier level discounts by default. This can also be set to auto-approve if it meets the criteria. This helps your Channel Partners and Distributors close more deals quickly by automating the quoting & contract processes.
Your Sales Representatives with pre-configured templates CPQ could reduce the time it takes to meticulously create a BoQ and its associated quote. Many such templates can be created to help automate the most repeated/complex tasks. Time saved for a Sales representative is time created to chase a new Opportunity. Quick facts – (1) Businesses that have Salesforce CPQ implementation done see 28% reduction in Sales Cycles (2) Proposal Volumes have increased to 49% per rep per month (3) See an increase of 105% into their average deal size.