Moderator MSDynamics 365 MVP, Rick McCutcheon, was joined by DealHub expert panelist Eyal Orgil, CRO and Co-founder, and Omer Fuchs, VP Strategic Alliances.
Here are the nuts and bolts of that riveting discussion.
CPQ (Configure, Price, Quote) solutions are considered the latest must-have sales optimization tools. They not only empower organizations to send out accurate proposals quickly and easily but also provide valuable data for revenue forecasting to help navigate the sales process.
Why CPQ?
CPQs provide a solution for some great challenges in B2B sales- generating accurate price quotes, quickly sending out proposals, and keeping the sales process short and efficient.
An Agile CPQ has a sales-first approach, focusing on organizations’ sales processes from the sales team’s perspective. Typically in the world of CPQ, guided selling is used to help sales professionals navigate product catalogs in the price book. The Agile CPQ has taken an innovative approach to this, by creating a dynamic playbook, modeled around the way sales organizations and professionals actually work when managing deals and making sales.
This logical guided process has laid the foundation for its intuitive and easy-to-use design, empowering leaders to connect their teams and processes, execute deals, and create predictable pipelines more effectively than ever before.
This is most evident in the areas of:
- Operational Efficiency – CPQ reduces administrative tasks and allows business application people to continuously adapt to changing business needs through the low-code environment
- Revenue Growth – A single revenue achievement strategy
- Compliance and Control – Centralizes authority and legal compliance across geographic territories
- Customer Experience – Digital DealRoom creates an innovative buyer experience by giving the ability to share content and track engagement behaviors to better understand the customers digital body language
An important thing that’s often overlooked is keeping sales people in mind when integrating sales tools. As obvious as it may seem, organizations don’t always consider the people who are actually using specific solutions. If a tool is not used, it’s a failed solution.
Working closely with the sales team in the configuration stage ensures a high adoption rate. When the sales team fully adopts the tool, that’s when you know your chosen solution is the right one.
What Can a CPQ Do?
CPQs serve the sellers, but carry benefits for buyers, by transforming the customer journey to one that’s fast, frictionless, and user-friendly. A lean and quick sales process is an advantage for both sides of the purchase interaction, and an agile CPQ has all the capabilities to redefine B2B sales.
Additional benefits include:
- Response Time
In today’s fast-paced environment, response time is critical to the success of a deal. Being faster than the competition is important. Just as important, however, is accuracy. Quotes need to be accurate, current and based on customer needs.
- Pricing Accuracy
Pricing is often the most challenging aspect of B2B sales. Errors in pricing have a costly exponential effect. Whether it’s a hundred-dollar cable or a $20K component that was missed, sending out error-riddled quotes damages business. A CPQ alleviates this main pain point effectively by ensuring 100% quote accuracy.
- Sales & Legal Compliance
Sales and legal compliance are paramount to any business deal. CPQ solutions ensure no rogue discounting and contractual misalignment in an organization by placing legal guardrails to protect pricing, clauses, and contractual obligations. This doesn’t take away the freedoms of sales professionals but it does ensure that there are no compliance shortfalls caused by careless or unwitting mistakes.
- Pipeline Accuracy
No organization can afford to have salespeople sending out quotes without departmental or organizational awareness. This is not only irresponsible but dangerous to business prosperity. Accuracy in the pipeline is critical and should be highly detailed within the CRM, so sales professionals can easily follow and track it.
- Standardization
Having standardized brand assets across all forms of communication – from logos to documentation formats – provides a professional and consistent look and feel. CPQ streamlines the standardization process, by speeding efficiencies and reducing the workload for all parties involved while feeding back into the customer experience. All of these aspects work together to promote business health.
- Renewals & Expansions
In software companies and in other industries, salespeople invest a lot of time trying to create renewals for customers. In fact, renewals can be done in minutes via automation tools. Using automation reduces the workload and the time required to manage the deal-making process.
CPQ Transforming Business
CPQs are designed for organizations looking to streamline the deal-making process, automate approval workflows, and gain control of sales processes as they scale. Transforming the way organizations do business, DealHub’s Agile CPQ offers Dynamics 365 users a unified platform that increases the scope of an organization’s offering, enables sales teams to thrive by simplifying the quoting process, and ensures a smooth adoption with guided selling while gaining more control over sales operations.
Partnership for Success
With a quick time-to-value and proven ROI, DealHub’s Agile CPQ is a significant digital transformation enabler giving organizations a competitive advantage in the ever-evolving sales landscape.
To watch the full expert panel, How Agile CPQ & CLM Differentiate Your Dynamics 365 Practice click here
