What CPQ Software Can Do For Your Hi-Tech Company

What CPQ Software Can Do For Your Hi-Tech Company

Kevin Geraghty
04. Jan 2022 | 4 min read

What CPQ Software Can Do For Your Hi-Tech Company

The market for hi-tech solutions is booming with innovation and new developments. There's constant competition for the newest products and breakthroughs. What can you do to make your technology company stand out? 

To compete in a crowded market, you must streamline your business processes and eliminate bottlenecks. However, when you're constantly working to improve your products, it negatively impacts your ability to create and send out accurate and timely quotes and proposals. 

That’s why you should implement a solution that makes the sales cycle shorter, streamlined, and more accurate.

CPQ software has many advantages for companies in hi-tech industries. Let's take a look at four:

Faster Sales Cycle

As a hi-tech company, you are constantly changing. In order to provide your customers with quick and accurate quotes, it is imperative that your sales team and channel partners have the latest product information and pricing. 

With CPQ software, all sales-related information can be stored in one place, ensuring that your sales team can provide fast and accurate quotes.

Better Sales Performance

CPQ software gives your sales team all the tools they need to close a deal faster. Through guided selling, CPQ helps sales professionals quote the right product at the right price. Sales personnel can also see what cross-sells and up-sells they should suggest.

Fewer Errors

CPQ software speeds up sales, but it also helps sales teams coordinate pricing, discounts, and bundling options. Changes made to these quoting components can be easily deployed throughout the entire organization with the CPQ software. So, the sales team is always on the same page.

The Gap is Bridged

CPQ software is not only a comprehensive sales tool, but it can also work with a range of other technology solutions to guide your Channel Partners and even end users throughout the buying cycle. Sales managements get a chance to see their entire sales pipeline and spot things they might not otherwise.

A quote-to-order CPQ solution, for example, bridges the gap between CRM, eCommerce and ERP by providing the ability to accurately and easily produce quotes and convert them into orders. An enterprise-grade CPQ solution can be deployed seamlessly within the most popular CRM systems – such as Microsoft Dynamics 365 and Salesforce.com.

Is your company using spreadsheets or other legacy solutions for configuration, price, and quote functions? They're convenient, but they're not reliable platforms for building product configurations and generating accurate quotes and proposals. 

Related: The 3 Crucial Factors for Configure Price Quote Success

Summary

By using market leading CPQ software, your technology-driven company has a quoting solution that adapts as quickly as the market evolves and grows. CPQ gives you the flexibility to change product and configuration options, as well as pricing quotes as required so that you're always at the forefront of your market's ever-evolving needs.

We Are Here to Help

If you're planning to implement CPQ software in your company, Xait can make sure it's set up correctly and help equip your sales team with the data they need to improve their processes. Our implementation options can be tailored to suit your budget and strategy.

Get in touch with an experienced professional to find out what is needed to help you achieve your sales targets (and CPQ goals).

Securing buy in and budget

Kevin Geraghty

Kevin Geraghty

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.

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