Changes in technology behavior are driving big changes in the way B2B sales teams must engage with buyers. Gone are the days of old-school spreadsheets and email attachments. Today’s top sales professionals are virtual, paperless, and more agile and flexible than ever before. It is now more important than ever to establish the right balance between great technology and great people to keep up.
Sales professionals must place the buyer at the center of their process and engage in the ways that buyers want – when they want. That means moving to new ways of working that remove friction from the process. To do that, teams must have a modern approach to sales using technology that can flex and scale easily, allowing increased agility and response, and positioning the team to move fast and secure quick wins.
One way to establish an advantage is through the use of Configure-Price-Quote (CPQ) software. Often integrated within existing software systems such as Customer Relationship Management (CRM), Enterprise Resource Planning (ERP), and e-commerce, CPQ serves as an invaluable conduit to fast, efficient sales growth. Imagine a bow tie. On the left-hand side, you have the ERP software fanning out from the center. And on the opposite side, you have CRM software fanning out toward customers and prospects. And in the middle, the piece that joins it all together, is Configure-Price-Quote.
CPQ solutions span a wide range of functionality; from very simple tools to complex solutions. Regardless of type, they are ultimately all designed to help and encourage buyers to make a purchase. Here is a quick breakdown:
A good CPQ tool captures all of the complex product, pricing, and business rules in one central place for automating and streamlining actions in real time, allowing sales teams to have everything they need at their fingertips to close deals faster, with better collaboration, control, and transparency.
This is in stark contrast to traditional quoting processes that often rely upon disjointed systems and silos of knowledge that slow the process, increase the chance of error, and are expensive to maintain.
In these circumstances, it is difficult for sales teams to convey the maximum value of their company’s products and services. The bottlenecks and the inherent risks in traditional quoting are key reasons why more and more companies are turning to CPQ software.
If your company experiences the following challenges, it may be time to move to a CPQ solution:
Related article: Experts Explore the Convergence of ERP, CRM and CPQ
Paul, has been entrusted with helping to grow the North American market for XaitCPQ. He has more than 15 years of successful experience as an entrepreneur and senior sales leader in technology and financial services. He enjoys almost any outdoor activity as well as extolling the virtues of vinyl compared to digital music with anyone who will listen. Paul is a graduate of the University of Massachusetts and lives in Boston with his wife and two kids whom they love dearly even though they regularly demolish their house, eat all of their food, and never let them sleep.