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Showing posts with label product configurator software. Show all posts
Showing posts with label product configurator software. Show all posts

CPQ Partner meetup

Posted On Friday, November 8, 2019


The partner network for CPQ and especially Tacton CPQ is expanding in the Nordics. Yesterday we had a first meetup in Uppsala, organized by cpq.se and hosted by Sisyfos Digital.

We started out with a short introduction of all attendants. There were six companies joining during the day.

CPQ Finland - CPQ implementation in Finland with extensive knowledge in PLM.

Cloud Exponent - 20+ Tacton experience with focus on business transformation and expert on SalesForce integrations

Metro Communications - Microsoft partner in the UK with long Tacton experience now focusing on cloud solutions including Microsoft Dynamics

OMT - Business engineering with 50 years combined experience within their CPQ consulting team

Sisyfos Digital - working with digitalization and PIM (and my favorite Uppsala consulting firm)

cpq.se - that's us. Tacton CPQ re-seller in the extended Nordics and CPQ expert consulting.





The purpose of the day was to bring together some of the people that have reached out to myself and Patrik over the last months. We started out with speed-dating, but quickly realized it was more of ex-on-the-beach.

Many of us knew each other from previous endeavors, but there were sure new faces to be introduced as well as new collaborations to be investigated.
Today’s topic - How to present CPQ

The topic for the day was sales and the second session focused on a meta-presentation how we at cpq.se present the concept of CPQ, challenges for our customer, value delivered, quick demo and subscription fees. The presentation ends with a proposed next step.

Next thing, after some traditional Swedish fika, was for every company to present their take on the CPQ sales pitch. After a few minutes of preparation each company presented their view of how to present CPQ to their customers.

With all the expertise in the room there was a very good discussion on how each and everyone of us could improve and optimize the pitch.

The afternoon went by really fast and we finished of the day with a visit to my favorite local brewery in Uppsala. During the evening we were joined by some old friends from Tacton. The picture above was taken by our guide Colin when we had a first ever taste of the upcoming collaboration between Uppsala Brygghus and Edge Brewing.

A very inspiring day. We will definitely meet-up again to discuss opportunities and challenges in the CPQ business.

What is a sales configurator ?

Posted On Monday, September 9, 2019




With an online sales configurator – like Tacton CPQ – your customers, resellers, retailers, and sales teams can easily configure and display their products on any device. Access to the online sales configurator is possible anytime and anywhere. It's much like having an experienced product manager who offers the best suggestions while ensuring products can be produced. The pricing module of the sales configurator will make sure the price is competitive and profitable.

The sales configurator controls what products are available to what user.  Changes to new products, options, pricing, promotions and marketing materials can be distributed instantaneously, so all sales channels always have accurate updated information.

A sales configurator helps translate product features into value and benefits. A sales configurator integrates rules and business logic for design, manufacturing and cost, and will reduce the training needs and the in-depth product knowledge. A sales configurator also reduces costs due to errors and incomplete offers.

By presenting the entire product range in an online sales configurator, your customers can configure their product choices, get quotes instantly, set accurate delivery dates, and even place orders with no or minimal impact on sales.

A sales configurator is often used to guide customers to the right buying decision based on their needs and budget. The “Guided Selling” approach identifies ways to promote higher value products and introduce new revenue streams, such as: service contracts, aftermarket packages, add-ons, and warranties.

By making it easier to buy the products thru the sales configurator enterprises build strong relationships with customers and strengthening brand loyalty. A smooth sales process has a very positive impact the sales process and the way companies bring their products to market.

Today's B2B and B2C customers want options and customizations for most offers. Customers also want to receive complex offerings in no-time. Finally, customers expect a quick response to changing demands on purchase contracts.

To provide customers with this flexibility the sales force will need tools like a sales configurator that accelerate supply, ensure accuracy, and make selling custom products and services as easy as selling standard offerings.

With a sales configurator a sales rep can create quotes and quotes that are instantly. It’s no longer necessary to search for price list information, brochures, old proposals and other sources. The sales representative doesn’t need to request expertise from other teams and departments. Instead, they can launch the sales configurator from a tablet or browser. Intuitive questionnaire will deliver the right product, the right price and a fancy quote within minutes.

The sales configurator business logic provides non-sequenced questions, 2D and 3D visualizations, and continuous calculations to ensure product conformity. Pricing, discounts, margins, and more are calculated in by the advanced pricing engine to ensure bottom line profit.

With an advanced sales configurator – like Tacton CPQ – a sales rep will NEVER get stuck between conflicting choices. The sales configurator will always present a valid product selection and will also indicate conflicting choices. There’s a big difference between different techniques to describe “the product rules”. All will stop you from doing wrong, just a few will help you do right. This makes a difference front-end but will also dramatically simplify maintenance of the business logic.

How a sales configurator contributes to business success

Customer Confidence: the product selection is customer centric and asks questions based on customer needs and budget. A sales configurator an suggest the optimal solution for a specific customer. This creates confidence

Guided Selling: A modern sales configurator will guide sales representatives through the sales / 
quotation process. The sales configurator quickly identify ways to cross-sell and up-sell accessories and other products, helping the sales representatives to better meet customers hidden needs.

"Selling the Impossible": Sales representatives will never again sell impossible solutions, products that can neither be produced or delivered. “Selling the impossible” is a far to frequent and often costly job mistake. In a sales configurator an impossible combinations is simply blocked.

Mobility for responsive service: Sales representatives can work anywhere on devices from laptops to smartphones to create and adjust outstanding quotes. The information is stored and version handled directly in the sales configurator.

Full Insight: With a modern sales configurator sales representative can quickly show how options can affect weight, price, production time, and other critical variables.  

Product Visualization: “Seeing is believing” and depending on customer expectations both the 2D and 3D views can be presented directly in the sales configurator. This makes the configuration easy to understand and has proven to shorten the sales cycle for both simple and complex products.

A sales configurator will change the way your sales representatives do business, negotiate complex deals and respond quickly to changing product and service requirements. Learn how to use the sales configurator to configure virtually anything on any device to ensure a fast quote and responsive customer service!

CPQ meaning

Posted On Wednesday, August 28, 2019

CPQ meaning


Definition

The meaning of CPQ is Configure Price Quote. The acronym is used to describe a system to support sales by guiding selling, governance of pricing and automation of document creation.

Configure Price Quote (CPQ) is the combination of techniques, strategies and technologies that companies use to manage and customize products throughout the customer lifecycle, with the goal of improving customer service and assisting in customer retention and driving sales growth.

CPQ systems compile product and pricing data across different channels, across the company, which usually include the product management, sales, marketing and R&D.

A CPQ systems can also give customer-facing staff detailed information on buying preferences thru a guided sales process.

CPQ has historically been used by larger enterprises, but the market is now moving toward small and medium sized businesses mostly due to cloud technology lowering the overall cost.

Components of CPQ


At the most basic level, CPQ consolidates product information, pricing and documents into a single “CPQ database” so business users can more easily access correct information. Business logic explains dependencies and ensure product correctness, pricing alignment and unified quote documents.

Over time, many additional functions have been added to CPQ systems to make them more useful. Some of these functions include automating various workflows, various calculations, advanced pricing structures and pricing models. Analytic capability gives managers the ability to track customer preferences and product inefficiencies based on information logged within the system.

Sales automation: CPQ tools with sales automation capabilities can automate customer interaction offering a 24/7-service for advance product enquiries. For example, as sales prospects come into the system, it might automatically send the prospects marketing materials, budgetary pricing indications typically via email, with the goal of turning a sales lead into a full-fledged customer.

Workflow automation: CPQ systems help businesses optimize processes by streamlining mundane workloads, enabling employees to focus on creative and more high-level tasks.

Lead management: Sales leads can be tracked through CPQ, enabling sales teams to input, track and analyse data for leads in one place. This is often combined with online presence of the configurator.

CPQ Analytics: Companies are keen to capture customer sentiment, such as the likelihood that they will recommend products and want to measure the overall customer satisfaction to develop marketing and service strategies. Companies can integrate CPQ data with other customer data from sales or marketing departments to provide a consistent view of the customer. Analytics in CPQ help create better customer satisfaction rates by analysing user data and helping create targeted marketing campaigns.

Geolocation technology: Some CPQ systems include technology that can create geographic sales campaigns based on customers' physical locations. This is important to make the product offering more adapted to the country or region. Geolocation technology can also be used as a networking or contact management tool in order to find sales prospects based on a location.


Types of CPQ technology


Some major players within CPQ systems are Apptus, Salesforce and Oracle. Other providers are popular among small to mid-market businesses, but these three tend to be the choice for large corporations with simple configuration problems. Some CPQ providers offer more advanced solutions for specific business segments such as Tacton that offers advanced CPQ with primary focus on the manufacturing industry.



The types of CPQ technology offered are as follows:

On-premise CPQ: With this system, the information about the company needs to be managed, controlled, backed up, and maintained using the CPQ software. With this approach, the company acquires licenses in advance rather than purchasing annual subscriptions from a cloud CPQ provider. The software resides on the company's servers and the user pays for upgrades. In addition, a longer installation process is usually required to fully integrate a company's data. Companies with complex CPQ requirements can benefit from a local deployment.

Cloud-based CPQ: Cloud-based CPQ, also known as SaaS (Software as a Service) or on-demand CPQ, stores data in an external remote network that employees can access anywhere, anytime. Sometimes an internet connection is established with a third party who oversees the installation and maintenance. The cloud's fast and relatively simple provisioning capabilities address companies with limited technological expertise or limited resources.

Companies might consider cloud CPQ as a more cost-effective option. Vendors such as Tacton charge by the user on a subscription basis and offer the option of monthly or yearly payments.

Data security is a major concern for companies using cloud-based systems because the company does not physically control the storage and maintenance of their data. If the cloud provider gives up the business or is taken over by another company, a company's data can be compromised or lost. Compatibility problems can also occur when data is first migrated from an in-house system to the cloud.

Finally, the cost can be an issue because paying subscription fees for software can be more expensive over time than with on-premise models. On the other hand, with a hosted SaaS solution improved functionality is constantly added to the CPQ platform.

CPQ examples in practice


Direct sales: Traditionally, data intake practices for CPQ systems have been the responsibility of sales and marketing departments. Sales and marketing teams procure leads and update the system with information throughout the customer lifecycle, and with the help of CPQ they gather data and revise customer history records through calls, meetings and technical support interactions. The CPQ system provides accurate pricing, correct product selection and impressive quotes.

Digital twin CPQ: CPQ can interact directly with customers thru a 24/7 business portal. CPQ gives the customer the possibility to investigate and understand the product offering prior to contacting a sales representative. This gives the company the possibility to find new lead thru automated channels and it give the customer a digital sales companion to guide thru the early phases of the sales journey.

Mobile CPQ: CPQ applications for smartphones and tablets are a must for salespeople and marketing professionals who want to access customer information and perform tasks when they are away from their office. Mobile CPQ apps use features that are only available on mobile devices, such as mobile devices. For example, GPS and voice recognition capabilities enable sales and marketing professionals to access customer information from anywhere.

Business-to-Consumer (B2C) Practices: A CPQ system in a B2C environment helps monitor sales as they go through the sales funnel and enables a business to solve any issues that may arise during the process. CPQ systems in the B2C market help improve the transparency of leads and thus increase the efficiency of the entire sales process.

CPQ challenges


For all the advancements in CPQ technology, without the proper management, a CPQ system can become little more than a glorified database in with product information is stored.

Companies may struggle to achieve a single view of the product portfolio. Challenges also arise when systems contain inconsistent data or outdated information. These problems can lead to a decline in customer experience due to lack of trust in the CPQ tool.

CPQ systems work best when companies are able to keep the product information up to date without involvement of consultancy services.

Top 10 reasons why CPQ projects fail

Posted On Saturday, July 13, 2019

The CPQ does not have backing from senior management

The CPQ process is spread all over the enterprise and touches many groups including sales, IT, engineering, marketing and order management. The planning and development of a CPQ solution must involve all of these organizations and must address the requirements of each group.

CPQ is a knowledge-based tool, and it's never better than the actual knowledge and data in the tool. Usually the product expert or senior sales rep who is too busy working with deals, is the person most needed for this type of project.

Backing from senior management is essential, to allow for prioritization of the implementation of the CPQ over the day-to-day business tasks for all these organizations, including the busy experts.

Scope creep

Scope creep is an uncontrolled growth in a project’s scope after the project has begun. This is very common in CPQ projects as you learn about and define processes that quite often were never documented before. 

This is why it's important to define project objectives early in the project, and refer to them as much as possible when deciding on changes to the project. It's also important to have a defined change control process, with a steering group that has backing from senior management. 

There's no easy solution to scope creep, but being aware of the problem is essential. 

Aiming at 100% of sales done with CPQ

If you ask an engineer working for an elevator company how many floors the elevators can have the most, he might answer 100. However, maybe 95% of the sales have fewer than 10 floors, and all elevators above 20 floors require some engineer-to-order? So, does it really make sense to allow for 100 floors in the configurator?

We recommend aiming at 80-95% of the configurations done automatically by the CPQ software, and allowing for some manual work for the rest. The reason is that there is typically an 80-20 rule in regards to implementation, where the last 20% of the configuration complexity will take 80% of the implementation time of the tool.

It is much better to focus on 80% of the sales initially in the project, and to make sure there is a ready process for the other 20% of the sales. If the project is a success, why not aim higher in the next phase of the project?

Bad data quality

A good sales configurator will use your product data existing in current systems. But how good is the quality of that data today? Do you have an organization in which all knowledge is stored in people’s heads and documentation is missing? As stated above, the output from the configurator will never be better than the input, which means you need to make an inventory of your product data and documentation.

You might need to structure and systemize your product data before selecting or implementing sales configuration software. If you don’t, the implementation will probably take much longer than expected, and changes of the tool will be done multiple times back and forth before being able to release.

Too few or too many integrations

Implementing integrations take time, whatever the IT-guy will tell you. Even a standard integration may require some adaptation because the software you are already using and want to integrate to is probably customized. Adding integrations to all your surrounding tools will add up to a hefty budget, and with some delays added, your project might get stopped before it is released.

Hence it is important to prioritize integrations, and to allow for manual integration in the early phases of the project. Do your prices reside in ERP? Are they only changed every 6 months? Can you export them to Excel initially, to get the project going? If you can get a manual integration to work, try to push the implementation work to the future.

However, from a similar perspective pushing integrations to the future which require a large amount of manual work is also a bad idea. The manual work will cost money and may cause update errors.
When selecting a vendor, make sure they have standard integrations to the essential systems you need to integrate to. Focus only on crucial integrations in the early phases to allow for a quick return on investment. Add the additional integrations in later phases, and do separate ROI calculations for the specific integrations.

The configurator cannot solve the configuration problem

Configuration is a complex subject. To put things into perspective; the number of atoms in the universe is estimated to be 10^80. A configurable product with 100 choices, and 10 alternatives for each choice has 10^100 combinations.

It is important to select a configurator that is able to solve complex configuration problems, an incorrect selection of sales configurator may lead to being force to simplify the configuration problem too much and hence giving incorrect configurations or prices to the sales person.

Too much focus on tangible products

A typical product does not only consist of hardware, but also other intangible products. It’s not uncommon for companies to have higher margins on services, spares and extended warranties. These products should not be forgotten when implementing the configurator – because without these the configurator is not complete. And if the configurator is not complete, the deals will either be missing these high margin products, or the sales will simply not use the CPQ due to the missing products.

The CPQ isn’t easy to use

If the solution is difficult to use or just slow – it will fail because no one will use it.

Your solution should simplify a complex process, not replace one complex process with another. There are often tradeoffs in functionality when simplicity is the primary goal. Make sure your CPQ is achieving a good balance between these two elements.

The CPQ doesn’t focus on the key users

CPQ projects tend to be initiated by all other departments at companies except sales, because sales are too busy working on quotes for customers. Hence the key tasks of the tool often misunderstood and not implemented properly.

The most important task of a CPQ is to help the sales person create a correct, competitive and valid quote quickly – and what that means exactly is different for different companies.
Makes sure key people from the sales department are involved in the selection and development process to insure that their requirements are covered.

No focus on data maintenance

In most configurable products, the master data changes continuously. New options are added and old ones disappear, new suppliers emerge, prices change, etc. Often, these changes are made on a daily or weekly basis. Typically, these changes are managed in ERP or PLM systems by people not involved in the CPQ maintenance.

It's vital that master data maintenance requires minimal amount of changes in the CPQ software. It is also equally important that an organization is set up to be responsible for the maintenance of the software, because with even a minimal amount of maintenance it still needs to be tested and validated.

Configure Price Quote Software

Posted On Friday, July 5, 2019


CPQ is normally a cloud-based software that helps sales teams to automate their quotation routines and manage interactions with clients.

Configuration

The C in CPQ stands for configuration. This means keeping track of all the logic that goes into a complex product. Certain options are required, others can not be combined.
The number of permutations is normally enormous. Even simple products often have millions of possible ways of combining a product. This means that the maintenance-effort required to keep the product logic up to date is one of the most important factors when evaluating the configuration engine.

Pricing

The P in CPQ stands for pricing. The next set of logic to master is the rules and constraints regarding prices and discounts. Certain items come cheaper as a bundle, some item are alliable for bigger discount while other can not be discounted at all.
This means that workflow and organizational hierarchies are needed to do pricing effectively. Keeping track of prices and the possibility to escalate the sales opportunities to management is all part of pricing.
Support for different pricing models, pricelists and purchasing agreements are essential in pricing.

Quotation

The Q in CPQ stands for quotation. Texts, specifications and images all come together in an advanced template that dynamically adjusts the quotation for each customer.
The ease of use and flexibility of the document generation is a very important factor when evaluating how the quotation can meet your business needs.

For a global company it’s often a requirement that both configuration and quotation must natively support multiple languages.

Vendors

According to analysts the leading vendors in CPQ are Apttus, Oracle, Salesforce and SAP. Niche players in manufacturing are PROS, FPX and Tacton. 

Configurator challenge

Posted On Friday, March 8, 2019


The configurator is one of the more difficult parts to evaluate in a CPQ-solution. The most straight forward way is probably to set up part of your real product rules in the CPQ system. However, this exercise is time consuming if you are evaluating multiple vendors. You are also likely to get questions from the vendors which in turn consume even more time.
It is not uncommon to try to solve this by instead giving the vendors a general problem and ask them to solve it. The travelling salesman problem is one typical example, however these problems tend to be completely unrealistic and have almost no relation to real configuration problems.
Below is an example of a configuration task that can show you how the configurator works. The main complexity with this challenge are all the ‘or’ statements which are very common product rules problems, but that are difficult to solve with a simple configurator.
Please contact us to get the expected results for the scenario.
Configuration task 1: 
Variables:
  • A: integer between 1 and 5
  • B: integer between 1 and 5
  • C: integer between 1 and 5
  • D: integer between 1 and 5
  • E: integer between 1 and 3
  • F: integer between 1 and 9999
  • G: integer between 1 and 9999
  • H: integer between 1 and 20
Rules:
  • Rule 1: A=2 requires D=4
  • Rule 2: B=1 requires (A=1 and E=1) or (A=2 and E=1)
  • Rule 3: C=1 requires (A=3 and B=2) or (A=4 and B=2)
  • Rule 4: C=2 requires (A=3 and B=2) or (A=4 and B=2)
  • Rule 5: C=3 requires (A=2 and B=1) or (A=3 and B=2)
  • Rule 6: C=4 requires B!=4
  • Rule 7: C=5 requires D=3 or D=4 or D=5
  • Rule 8: A=2 requires G=1 or G=2
  • Rule 9: D=3 requires F=3 or G=4
  • Rule 10: A >= F
  • Rule 11: E >= F + G
  • Rule 12: H = A * B

Publicly available CPQ examples

Posted On Saturday, February 2, 2019


Configurators built using CPQ software :

Aritco (Animech Technologies)
Bennington Marine (Verenia)
B├╝rkert (Tacton)
Demag (Camos)
Ebara (Intelliquip)
Festo (Camos)
Grundfos (Configit)
John Deere (FPX in the old version, Configit in the new version)
Maxon motor (Camos)
Mercedes-Benz Trucks (CAS Software / SAP)
Piab (Tacton)
Scania (Tacton)
Tuff Shed (KBmax)

Demos by vendors:

8-queens problem (Configit)
Bike/Lawn Mower/Etc (e-Con Solutions)
Cabinet Configurator (Configure1st)
Hi-tech, SaaS and IT/Managed Services (CallidusCloud CPQ)
Scissor lift/Cupboard/Etc (DriveWorks)
Sudoku (Tacton)

Notable configurators built in-house:

DAF Trucks
International Trucks
MAN Trucks
Montech AG
Renault Trucks
Schindler
Siemens AG
Volkswagen


Other configurators may be found in the configurator database, however most of them are very simple B2C (Business to Consumer) products.

Why is product configuration complex?

Posted On Thursday, January 17, 2019


In essence, a product configurator is only a bunch of selection menus that you need to keep track of to validate that it is technically correct solution. So why is it complex, and why do you need a tool for it?

The easiest way to explain this is to think of a typical configurator for a product. Imagine that our sales configurator has 25 questions, with an average of 10 answers to each question. This is a reasonably sized configurator, your product may very well have many more questions. So how many theoretical variants of the product do we have? To calculate this, you have to take the number of variants in question 1 which is 10, multiple by the number of variants in question 2 which is also 10, and keep on going...

So basically 10x10x10… until we get to 25 questions. So this gives us 10^25 number of solutions (that’s a 1 with 25 zeros).

This is a large number, but how large is it? Well, imagine we spend 1 millisecond (a thousand of a second) to analyze each potential solution just to make sure it is valid or not. Well, then we would spend the time equal to the age of our universe 10000 times (the age of the universe is about 10^21) to validate that our solution is correct.

So it becomes obvious we cannot analyze each solution in a configurator. We can cheat - and just try the configuration the sales rep put together and check that all rules are ok. But then we won't know if there are any better solutions out there.

Tacton uses a constraint-solving configuration engine, to try to do something smarter.

Contact us to find out what!

What is CPQ?

Posted On Tuesday, August 12, 2014

Definition

CPQ is an acronym for Configure, Price, Quote. CPQ is used to describe the process of selecting components (configure), handling pricing (price) and generating documentation (quote). CPQ software is primarily used for complex products, services or a combination of the two.

CPQ solutions
  • supports a simple way to select valid product combinations with respect to product rules and limitations
  • price the product correctly according to bundling and discounts
  • creates an accurate and persuasive quote based on this information
CPQ software connects front and back end systems and automates the lead-to-cash process.

What is a CPQ process?

What’s included in a CPQ process? Is it all automated and in what way is it adoptable and flexible?

Configure: All complex products have limitations to how modules or sub-components can be combined. The user normally specifies key features and main products, a configurator handles all limitations and itty-bitty details.

Price: Manufacturing costs, geographies, competitive situation, and local protocols - the pricing can be just as complex as the product itself. The price adjustments should both be automatic but also offer flexibility and advice for sales tactics.

Quote: Documents describing a complex product includes texts, illustrations, data sheets, drawings. All specific for each offer generated. The level of details should be flexible and document generation should be fully automated.

Top 4 reasons why manufacturers choose a CPQ solution

Posted On Wednesday, July 23, 2014

What criteria can you use to determine if your company needs a CPQ solution? How can you tell when it’s time to invest in CPQ software?

I wouldn’t set out specific criteria as much as offer four reasons that I think will help you sort out an answer.

This is what we hear over and over again from clients and potential customers.

Spend more time selling

Is there a feeling that not enough selling is being done by your team? If so, this deserves your immediate attention.

Sales people are expensive and their primary role is to engage with customers and prospects. This is how your organization generates revenue.

Preparing quotations and proposal documentation is still a major tasks in many sales organizations. If this can be reduced there will be more time for actual selling. This is the first reason to invest in a CPQ solution.

Better proposals

A good quote delivers a vibrant, crisp and compelling proposals that distinguish you from the competition. A superior quote will persuade your customer and win more business.

Developing best practice for quotes, RFP documents and other sales documentation enables your team to increase the overall quality of the delivered proposals.

A better proposal will tell the customer that you will fulfill their needs and deliver what the customer wants. A better proposal that will provide important benefits and clearly describe the delivered value. A better proposal that validate that you have the right qualifications to fulfill the customer needs.

The proposal should send the message why your company better than anyone else can deliver the optimal solution with the highest value. This is the second reason to invest in a CPQ solution.

Get the price right

Working with complex products is somewhat problematic. To get the price right is a challenge and it makes a big difference when it comes to bottom line earnings.

The first problem: One option often requires another option. Forgetting that other option in a quote can be will severely reduce the profit. But to keep track of all options and exception is a difficult task that requires up-to-date knowledge.

The second problem: When multiple products are combined there is normally a reduction in price that only applies under certain conditions. To work with packages is an efficient way to expand the offering, but it also requires that up-to-date knowledge.

The third problem: In a changing world pricelists need to adopt fast. What was previously done on a yearly basis is nowadays more likely to be day-to-day updates. To be able to adopt to changing circumstances also requires that up-to-date knowledge.

The third reason to invest in a CPQ solution is the fact that up-to-date knowledge should be part of the CPQ package.

First to respond

When a customer asks for a quotation or proposal it’s unlikely the request is sent only to your company. The most likely scenario is that the same questions and requirements will be sent to up to a dozen competitors.

Companies with an implemented CPQ solutions reports that speed makes a difference when it comes to closing more deals. A rapid respond really makes a difference.

Being the first to respond will in itself not guarantee better business. But in combination with more time selling, better proposals and correct pricing it definitely makes a difference. That’s why it’s the forth reason to invest in a CPQ solution.

CPQ - Configure, price, quote software

Posted On Sunday, July 13, 2014

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