Manual quoting processes are no longer enough to maintain a competitive edge in today’s dynamic landscape. Even the best salespeople will fail to close deals as quickly and effectively as the competition when they’re forced to spend hours performing administrative tasks. Speed is essential to achieving higher revenue. Research shows that 50% of customers accept the first proposal they receive.
DealHub’s powerful enterprise-grade solution gives sales teams next-generation CPQ technology that streamlines the quote-to-cash process and enables them to make strategic pricing decisions. It also reduces time-to-proposal by 80% by replacing time-consuming manual tasks with automation at every stage of the quote-generation process.
Here’s how today’s leaders of high-performing sales teams are showing their sales teams the love they deserve:
DealHub’s Agile CPQ solution eliminates the need for sales professionals to dig through price and product lists in order to create a quote. Rather, its unique guided-selling sales playbooks invite sales professionals to answer a series of questions about any given deal. By ingesting information about the buyer profile, products, geography, and more, DealHub’s CPQ solution generates a quote that’s tailored to the exact needs of the buyer – and aligned with the company’s best practices around pricing, sales margins, and discounts.
Sales leaders are harnessing technology to power their growth with DealHub’s guided selling playbooks. By inputting pricing strategies into playbooks once, salespeople can then use them to generate 100% accurate quotes for every single deal. Not only does this eliminate the risk of manual quoting errors and outdated pricing or product information, but it also enables them to make smart selling decisions that maximize deal size and optimize revenue.
DealHub’s guided selling playbooks have been shown to reduce the average amount of time it takes to create a quote – down to 8 minutes from the 90 minutes it takes with manual processes.
Quote approval workflows
Sales professionals often make changes to quotes, offering discounts or other incentives, to increase their odds of closing a deal. These changes often require management approval before the quote is sent out.
Approvals can take days, or even weeks when handled manually. Making matters even worse, sales leaders often have inconsistent ideas about what kind of discount should be offered to prospects. As a result, it often takes so long for discounts or changes to be approved, that deals are routinely held up due to bureaucratic delay, or worse still, they are completely lost.
DealHub’s CPQ solution streamlines the approval process by allowing sales leaders to set discounting guardrails. Any discount offered below the threshold gets automatically approved, while discounts offered above it are sent for approval via an automated workflow. When multiple approvals are required, discounts can simultaneously pass through parallel approval workflows. Automated approval workflows fast-track quotes that conform to the company’s sales strategy while ensuring those that don’t are correctly routed to leadership for review.
This enables leadership to protect margins and put pricing guardrails in place – giving salespeople the freedom to make independent decisions about their deals, without straying from the defined sales strategy.
DealHub’s Agile CPQ solution offers powerful subscription management capabilities that make it easy to quickly and efficiently handle recurring revenue contracts. This is opposed to manual quoting, which forces sales professionals to hunt through previous deals to find something that’s similar, or to create a new quote for a product mix (requiring them to reference existing contracts).
DealHub standardizes subscriptions with rule-based logic. This rule-based logic sets deal terms that are in line with leadership’s expectations for every prospect and product mix, every single time.
This enables sales leaders to automate the subscription-renewal process, eliminating sales professionals’ need to spend time manually renewing existing deals. And as before, the discounting-approval process ensures sales leaders can always maintain their pricing strategy.
DealHub’s CPQ solution also maximizes upsell, cross-sell, and bundling opportunities by automating the price and product-combination process. This way, salespeople don’t need to spend their time trying to find the optimal mix to offer prospects. Instead, DealHub automatically configures the different pricing and product combinations that can be offered, in order to generate the option with the greatest revenue potential.
Show your sales team love at SKO 2023 and increase their average deal size by 15%
Your annual sales kickoff is a celebration of your sales organization. It’s an opportunity for sales leaders to show their appreciation by setting up their sales team for success in the coming year. To do that, leaders must prioritize enabling teams with the next-generation sales tools they need to execute deals and stay ahead of the competition.
This starts at the quote stage of a deal. By “automating away” the manual processes that prevent salespeople from delivering quotes and proposals to their prospects as quickly as possible, sales leaders will give them a significant edge in the race to closing deals and maximizing revenue.
Learn more about how DealHub’s Agile CPQ solution can power your SKO and propel your 2023 strategy here.
For the past 4 years, DealHub has been ranked the #1 CPQ on G2, operating with a variety of popular CRMs, innovating the next generation of CPQ software to empower teams to connect their tech stack and enable teams to take their revenue to new heights.