But how can we dodge these obstacles unharmed?
Fear not, leaders, for Configure Price Quote (CPQ) technology is here to save the day. These systems are game-changers, revolutionizing operations with their tailored solutions designed to streamline processes. By automating and optimizing the quote creation process, CPQ addresses the core pain points of Sales and RevOps. It paves the way for more accurate, timely, and efficient quote management, enabling businesses to scale seamlessly while maintaining high standards of customer service and operational excellence.
The power of a scalable CPQ solution
CPQ offers valuable scalability benefits for industries facing rapid growth or complex product lines. Manufacturing companies with intricate configurations, SaaS businesses with evolving software offerings, and IT services with bundled packages all find value in CPQ’s scalable solutions for handling pricing structures and regulatory requirements efficiently.
Scalability in CPQ is the ability to efficiently manage increasing and complex quote volumes without hindering performance. A scalable CPQ solution, such as DealHub, is necessary for driving business growth and maintaining operational flexibility.
Guided selling within CPQ simplifies the sales process, steering sales teams through a streamlined, error-free quoting experience. This approach significantly reduces the likelihood of mistakes, thus enhancing both accuracy and speed.
As businesses evolve, continuous change management becomes crucial. CPQ platforms adeptly adapt to changing business needs, ensuring that sales strategies and tools are always aligned with current objectives. This adaptability is essential to balance rapid execution with sustainable growth.
Moreover, CPQ fosters multi-team collaboration, bridging gaps between departments. It serves as a collaborative platform, ensuring that all teams — from sales to finance — work in harmony, further solidifying its role as a scalable solution.
CPQ features that contribute to scalability
CPQ solutions offer a range of capabilities to support scalability for businesses as they grow. When evaluating scalable CPQ software, look for these features:
Product and pricing configuration engine
This feature offers customization and flexibility, enabling users to create complex product configurations and pricing structures. Businesses can easily adjust pricing based on market trends or specific customer requirements, enhancing responsiveness and competitiveness.
Automated workflows and approvals
Automated workflows streamline decision-making processes. For example, a sales representative can submit a quote for approval, and the system can automatically route it to the relevant manager, reducing the time spent on manual approvals.
Integration with CRM and ERP systems
Seamless integration with CRM and ERP systems ensures consistent and error-free data flow. This integration allows sales data to be accurately reflected across all platforms, from inventory management to customer relationship tracking.
Reporting and analytics dashboards
These dashboards offer strategic insights by analyzing sales and revenue data and enable businesses to identify trends, measure performance, and make data-driven decisions for future strategies.
No-code solution
A no-code CPQ solution empowers non-technical users to make changes or updates without needing specialized IT skills, enhancing agility and responsiveness to market changes.
Cloud-based infrastructure
Offering global accessibility and robustness, a cloud-based CPQ system ensures that teams can access necessary tools and data from anywhere, supporting a distributed workforce and global sales operations.
These features collectively enhance the scalability of CPQ solutions, enabling businesses to grow efficiently while maintaining high operational standards.
5 reasons to scale your business with CPQ
Implementing CPQ software propels business growth and scales revenue operations in several strategic ways:
- Increased efficiency and accuracy in the quoting process
CPQ systems automate the quoting process, drastically reducing the time taken to generate quotes. For instance, a business dealing with customized products can use CPQ to automatically generate accurate quotes based on customer selections, eliminating manual calculation errors.
- Quicker turnaround times for quotes
With CPQ, quote generation is expedited, allowing sales teams to respond to customer inquiries more swiftly. This rapid response capability is crucial in today’s fast-paced market, where prompt customer service can be a significant competitive advantage.
- Increased productivity among sales teams
CPQ tools liberate sales teams from time-consuming administrative tasks, allowing them to focus more on selling and less on paperwork. This shift not only increases productivity but also boosts job satisfaction among sales personnel.
- Reduction in errors and non-compliance risks
By automating the quoting process, CPQ minimizes the risk of errors and non-compliance with pricing and discount policies. For example, a company with complex discount structures can rely on CPQ to apply discounting rules accurately across all deals, ensuring consistency and compliance.
- Enhanced visibility into sales data and performance metrics
CPQ solutions provide valuable insights into sales operations through data and performance analytics. These insights enable businesses to make informed strategic decisions, such as identifying best-selling products or optimizing sales strategies based on performance metrics.
The real benefits of CPQ scalability
CPQ scalability isn’t just a fancy idea for sales and revenue operations teams – it’s a reality that’s reshaping the way businesses operate. The following case studies of Wealth.com and Yotpo, two diverse businesses, provide concrete examples of how they leveraged DealHub CPQ to overcome distinct challenges, implement effective solutions, and achieve remarkable post-implementation results. These stories paint a clear picture of CPQ’s impact in driving operational efficiency and business growth:
Wealth.com, a financial services provider, faced a challenge in optimizing its quote and proposal processes. Their adoption of DealHub CPQ, supported by LeanScale, led to a drastic overhaul. Post-implementation, they achieved complete team adoption and reduced their quote turnaround time by 60%, significantly enhancing operational efficiency and customer response time.
Yotpo, specializing in e-commerce marketing, encountered issues with SKU complexity and low CPQ usage. Integrating DealHub CPQ transformed its operations. The solution cut down quote turnaround time to under 8 minutes, increased accuracy, and improved overall efficiency. This change notably brought about considerable cost savings and return on investment, boosting Yotpo’s sales execution capabilities.
Both case studies highlight how DealHub CPQ’s scalability directly contributes to improved operational efficiency, faster quote processing, and cost-effective business growth.
Scalability for your high-growth CPQ needs
Scalability in the tech stack for revenue operations is critical for growth, and CPQ plays a vital role in this endeavor. CPQ solutions like DealHub enhance scalability by offering faster setup, easier maintenance, and reducing the need for technical support, leading to quicker onboarding of sales representatives. CPQ keeps pace with business changes in real time, consolidates sales tools, and integrates seamlessly with CRM systems. CPQ integration not only improves daily operations by reducing errors and manual work but also provides deeper analytics for strategic decisions. In addition, features like digital sales rooms and continuous updates support scalable, efficient, and collaborative environments, which are indispensable for modern revenue operations.
DealHub CPQ is versatile, user-friendly, and packed with features to meet the needs of growing businesses. Features include:
Easy configuration and updates
Our solution excels in its user-friendly configuration and update process, allowing for swift adaptations to evolving sales strategies and market conditions with minimal IT involvement. Our no-code solution promotes operational agility and responsiveness.
Real-time business adaptation
Using advanced APIs, DealHub ensures that the CPQ system adapts in real-time to business changes, maintaining alignment with the latest business strategies and market dynamics and fostering a highly responsive business ecosystem.
Beyond basic CPQ functionalities
DealHub’s CPQ solution is designed to grow with your business, eliminating the need for additional add-on solutions as your company expands. This comprehensive approach ensures that all essential capabilities are integrated from the outset.
Advanced contract management
DealHub enhances its CPQ offerings with advanced contract management features, streamlining complex contractual processes and ensuring accuracy and compliance, which are crucial for diverse agreement terms.
Subscription management
Grow recurring revenue through our subscription management capabilities tailed to your pricing model. Boost renewals and reduce customer churn with automated subscriptions. Grow revenue with upsell and cross-sell recommendations.
Integrated e-signature
Integration of e-signature technology within DealHub streamlines the approval process, accelerates deal closures, and enhances the efficiency of transactions, supporting smoother and more reliable business operations.
Integrated document generation (DocGen)
The DocGen feature in DealHub automates and simplifies document creation, significantly reducing time and manual errors in document processing and enhancing overall document management efficiency.
Digital sales rooms
DealRoom, our digital sales room, provides an immersive and interactive customer engagement experience, strengthening customer relationships and differentiating the sales process.
Streamlined onboarding and feature introduction
DealHub’s CPQ platform streamlines the onboarding of new sales representatives and seamlessly introduces new features and pricing models, showcasing its scalability and adaptability in a dynamic world.
Unlike many CPQ solutions that offer a one-size-fits-all approach, DealHub distinguishes itself with its tailored scalability. It meets the growing demands of high-velocity sales environments and offers unparalleled customization and integration capabilities. This distinctive blend of flexibility and power sets DealHub apart as a leader in scalable CPQ solutions.
