Sitting in between a CRM and an ERP, a CPQ is the vital link or middle child of any great business and currency to the downstream fulfilment, the ERP. Just like a middle child plays an integral role in connecting the family together, CPQ does the same for any business. Be it delivering measurable sales effectiveness improvements, Quoting and deal intelligence adoption or Enabling launch of customizable products on global scale.
Have you ever wondered as What can your business do with CPQ? Well, CPQ is not just a one-layer solution, it is rather a vital to streamlining the customer experience, the solution impacts a variety of departments, often meaning different things to different people. Oracle’s CX suite serves a variety of industries with broad functionality.
Through CPQ, a business can leverage Oracle CX products to do the following:
CPQ is an essential part of a successful global, multi-channel selling strategy and isn’t just for making your internal reps effective and efficient. CPQ allows you manage different strategies for different channels or different geographies by giving you full visibility into sales trends and channel effectiveness, so executives can course-correct when needed. Also, grants you full control over which partners, groups, or channels can access certain pricing or product information, with role-based access, discount locks, and portals.
CRM software is not sufficient, when it comes to complex quoting and configuration processes. But manual is messy. Quotes take too long and often contain numerous errors. Managers often become bottlenecks for approvals – the problems go on and on.
CPQ is the ultimate sales tool and shortens sales cycles by: having one centralized location for all product and pricing information, providing guided selling recommendations and user-friendly interfaces, and configurations that manage product complexity.
CPQ solutions allow companies to ensure automatic compliance with product, pricing and business rules. CPQ eliminates common quoting errors and the downstream problems they cause to sales. When information delivery and timing are optimized through CPQ tools, the impact to your business is extraordinary.
A CPQ software solution helps sellers spend a larger portion of their time with customers. Selling should be your sales staff’s key focus, and every hour they spend building configurations, creating proposals, and pricing orders is an hour they won’t be working directly with customers. By automating time-consuming configuration and pricing processes. As a result, your sellers will be able to meet with more leads in a day, and identify more sales opportunities.
CPQ play a connecting bridge between front office and back office applications, CPQ helps break down the process silos that often create hidden complexities and unnecessary delays. CPQ really shines and that’s the reason why a CPQ solution is the most important CRM application: it empowers the current consumer culture to sell and buy the way they want. So CPQ is going to have some staying power for the foreseeable future and hence one of the easiest ways to improve the selling process is to make it as flexible and easy to use as possible.