5 Things Every Sales Manager Needs to Know Before They Consider CPQ Software
Take time to understand these five things and be able to convey your organization's view on these to a shortlist of CPQ vendors. This will help them to show you how they can help you, making it easier for your team to make an informed decision on which CPQ vendor will best meet your specific needs and deliver the outcomes you desire.
There will be many measures for success around sales; however, it is important to understand which of these will be addressed through the introduction of a CPQ solution and by how much.
Typical measurements that can be improved are:
With so many things that can be addressed with a CPQ solution, it is critical to establish the ones that will deliver the biggest ‘bang for your buck’. A great way to establish this is to consider what would help your buyers to become minded to select your quote or proposal – in other words, how would you become easier to buy from. Luckily, there are some common factors that heavily influence the buyer, regardless of the industry.
Proven factors for success:
Understanding where your organisation has existing constraints to achieving better performance in these areas will help validate the priorities from your CPQ project
Document your vision of the ideal process that would transform your quoting and pricing process. Paint a vivid picture of this vision and let your selected CPQ vendors work out how they will bring this to life.
Change is inevitable. Some changes will be known and expected. Other changes will be less predictable and sometimes impossible to predict. Faced with the fact that changes are going to happen, there are some trends that it would be wise to consider:
When thinking big, particularly in business transformation projects, there may be a temptation to want the vision delivered in one big bang launch. There are three potential issues with this:
A good way to mitigate against these risks is to seek lots of smaller, faster wins. Involving others in the business to review after each step and contribute will usually bring increased engagement and buy-in, and better solutions in the medium to longer term.
Taking time to consider what your business really wants and needs from a CPQ solution and challenging vendors to show how they can support you through a project that should deliver business transformation and competitive advantage is a wise and solid investment. A structured approach that uses these five criteria will make your buying decision far easier and your project more likely to succeed.
Kevin's passion is helping companies become easier to buy from. He is a pioneer and thought leader in CPQ (Configure, Price, Quote). Quick to spot how technology (in particular CRM and product configuration software) enhances sales team performance, he was instrumental in the development of cloud based CPQ applications. He co-founded BlueprintCPQ in 1999, and built this to become one of the most powerful and flexible CPQ platforms. BlueprintCPQ was acquired by Xait in December 2020 where Kevin is Head of CPQ practice and Managing Director of Xait Ltd where he continues to apply his innovative thinking and experience to drive sales efficiency.