Implementing configure price quote (CPQ) technology empowers organizations to respond to buyers faster, quote accurately, reduce revenue leakage from their pipeline, manage their subscription contacts more efficiently, and generate data to use for the continual improvement of their quoting processes. This leads to higher revenue achievement for executives, revenue operations leaders, and sales operations professionals.
DealHub CPQ is the clear choice for organizations looking to accomplish all of this and achieve more revenue impact. Its advanced technology empowers you to generate complex quotes quickly and accurately, streamline internal quote approval workflows, and manage subscriptions with ease. DealHub CPQ’s Salesforce CRM and Microsoft Dynamics 365 integrations also let you push/pull data directly from your current system.
Read on to learn the main reasons you should implement CPQ.
Fast and Accurate Quoting
Speed is essential to capturing the attention of buyers. The first team to respond to a buyer with a quote wins the deal. The best CPQ technology generates accurate quotes quicker and more accurately than manual processes.
In fact, DealHub CPQ averages 8 minutes, even for the most complex quotes.
Our advanced guided selling playbooks make this possible by eliminating the need to dig through product and pricing documentation. Instead of this tedious, inaccurate process, leadership inputs their pricing strategy into a rules-based engine once. Then, reps answer a series of questions about every deal they work. DealHub CPQ maps the responses onto the strategy automatically. The result is a 100% accurate quote, no matter how complex the deal.
This accuracy is possible because CPQ technology takes human error out of the equation. Quoting mistakes risk sacrificing the goodwill accumulated with buyers during the initial phases of the deal. In some cases, it can even derail a deal entirely.
Our playbooks also make it quick and easy for you to revise your sales strategy. No hard coding is required to implement DealHub CPQ. In many cases, changing the configuration of the playbooks is as easy as changing a spreadsheet, so you can make adjustments and keep your tactical sales execution up to date with your strategic understandings and goals.
Initiating, maintaining, and renewing subscriptions with CPQ software creates a seamless integration of essential tasks. Recurring billing, collections, and quotes are enacted automatically. A CPQ solution provides consistency for all subscribers and at the same time, puts into motion customized actions, such as discounts, billing changes, and renewals.
Subscribers should be kept up to date about the status of their subscriptions and new deals. CPQ solutions automate reminders of expiration and renewal dates. This creates a sense of a unified process across all communication channels.
Subscription management also empowers sales teams to consistently offer upsells and cross-sells. Encouraging existing subscribers to renew services and make additional purchases the complement their current subscriptions dramatically increases revenues.
DealHub CPQ’s advanced subscription management technology uses historical deal data to find the optimal mix of products to offer each type of customer — opportunities manual processes almost always miss. By taking buyers’ interests, past purchases, and activity into account, leadership ensures every deal maximizes its revenue impact.
Seamless Buyer Experiences
Implementing CPQ technology automates and streamlines your quoting processes, making it possible to connect your quotes into an improved buyer experience throughout the entire quote to close cycle. Our DealRoom is the best way to create this seamless experience.
For starters, DealRoom offers advanced contract lifecycle management (CLM). You can generate sales proposals using pre-approved legal and commercial language, manage redlining in a single place, and integrate e-signature with solutions like DocuSign directly into the contract.
In addition to automating different stages of the sales cycle, DealHub CPQ + DealRoom also streamlines workflows at every touchpoint. During the quoting phase, leadership can set maximum discounting thresholds — automatically approving everything below a certain amount, and sending everything above it for manual review. That streamlines the process while still placing guardrails around reps that protect margins. During contract negotiations, stakeholders are automatically notified when their input is needed — eliminating the need for long email chains.
Overall, DealHub provides a unified approach to sales proposals that keeps the sales team on the same page. Our guided selling playbooks collect essential information for quotes, pass it on to the negotiation phase of a deal, and integrate with your sales tech stack to close the deal.
Optimizing your sales processes over time requires data. However, manual sales processes provide little, if any, meaningful data. The proliferation of these harmful practices has led to a sales data deficiency crisis for many sales teams.
A key benefit of implementing a CPQ is the specific data it generates on touchpoints in your sales process. DealHub provides data to both to close more individual deals, and increases the long-term success of your sales operations.
For example, you can keep track of how quotes translate into revenue with manual processes — but your understanding will be imprecise. Human reps will occasionally fail to offer the bundles and cross-sells called for by the overall sales strategy, limiting your understanding of what works and what doesn’t. In contrast, DealHub CPQ’s guided selling playbooks ensure quotes adhere to current pricing and product strategies, giving you an accurate picture of what works and what doesn’t over the long-term.
With DealRoom, reps benefit from real-time notifications of buyer interactions with your sales content and proposals. When you see a buyer is showing increased interest, you can send the right message to close the deal. Or, if you notice a decrease in interaction you can step in and try to restart the relationship.
Implement CPQ and Achieve More Revenue with DealHub CPQ
DealHub CPQ’s advanced technology empowers sales and revenue operations leaders to quote faster, streamline internal workflows, manage contracts more effectively, and generate data for continual improvement.
Choosing the right CPQ for your business is one of the most important decisions you will make. To learn more about how to properly evaluate a CPQ, check out our blog post where we give 15 tips for how to choose CPQ software.
DealHub CPQ has been selected as a Top-50 Sales Product by G2 and recognized as a leader in the CPQ Momentum Grid. We have innovated the next generation of CPQ to empower teams to connect their tech and their teams to send their revenue to new heights today and in the future.