A configure, price, and quote system (CPQ) provides manufacturers with an effective sales tool that simplifies creating price quotes for all products. Customers have the option of ordering the products online or reviewing the quote and speaking with a customer service representative. CPQ prevents on-site sales workers from making mistakes in their estimates or providing inaccurate information to their clients. CPQ systems increase efficiency for company sales and do not overburden the sales team. CPQ provides companies with competitive advantages in the following five ways.
- Selling Products Faster
By using CPQ, manufacturers can sell products more quickly, and customers do not have to wait for a sales representative to contact them. Using this design, the customer can browse the manufacturer’s website and select the products they wish to purchase online. The self-serve features allow customers to add elements to their orders and customize the products according to their individual requirements. Learn more about CPQ for Manufacturing and how it can improve your business.
- Maximizing Profit Margins
By incorporating CPQ into their network and sales practices, companies can maximize their profit margins. The sales team and these integrations enable a greater number of clients to receive services and products. A lot of customers do not wish to speak with a customer service representative every time they wish to make a purchase. Clients can complete their orders online through CPQ designs. Online sales will increase the company’s profits and will not exhaust the sales team. An overburdened workforce performs poorly, and an alternative sales method is more efficient.
- Improve the Efficiency of the Sales Team
The sales teams need to generate more qualified leads in order to close more sales and increase profitability for the company. Online CPQ integrations provide customers with all the information they need to make an informed decision. When customers place orders online, the company’s sales team is available to answer questions and provide efficient customer service for callers.
A greater number of internet sales may free up the sales team’s time and allow them to handle incoming calls efficiently. There is a higher level of customer service, and clients do not have to contend with lengthy sales pitches when they purchase products.
- Avoiding Errors in Orders
With CPQ, customers are given a wide range of options and asked to confirm all elements of their order. Rather than speaking with a customer service representative, the customer makes all final decisions about the order. They make any necessary changes before placing the order. Through the software, the client receives an error-free order based on their responses to prompts on the screen. A company does not have to contend with the effects of human error because a worker entered the order details incorrectly.
- Guided Selling Opportunities
Customers can get a basic understanding of each product through guided selling opportunities. They can customize any product based on the client’s needs, and the CPQ system shows the customer what modifications are available to make. When a customer is setting up their order, they will see new questions related to each element of the product.
CPQ improves the performance levels of the company’s sales team and provides customers with more accurate quotes for their orders. Sales are faster and more efficient, and customers do not need to contact a customer representative to purchase products from the manufacturer. Learn how CPQ improves manufacturing sales and transforms companies.
