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What is CPQ For Small Business?
CPQ, or configure price quote software, is a must-have for any B2B small business or startup that sells products or services. CPQ streamlines the quoting process by automating repetitive tasks and ensuring accuracy, which leads to happier customers and more sales.
There are many CPQ solutions on the market, but not all of them are well suited for small businesses. The best CPQ software for small businesses should be affordable, easy to use, and offer a robust set of features.
- CPQ for small business
- CPQ for startups
- CPQ for SMB
How CPQ Solves Pricing and Quoting Challenges for Small Businesses
One of the biggest challenges facing small business sales teams is a lack of resources. This can include everything from a small sales enablement budget to a limited number of team members, making it difficult to qualify leads and close deals.
CPQ software is becoming an increasingly popular tool for businesses with limited sales operations capacity and small sales teams. CPQ can help streamline sales processes by automating price quote generation. This enables small businesses to respond to buyers quickly with accurate pricing quotes and contracts. Although your business may be small, you can operate as smoothly as larger organizations.
Here’s how CPQ helps small businesses:
Improve quoting productivity
SMBs need to work efficiently and at maximum productivity to grow revenue. Using CPQ software enables small business sales teams to minimize time spent on administrative tasks like manually creating quotes from Excel pricing sheets and Word docs. CPQ automates the quoting, approval, and document generation process so businesses maximize efficiency and drive sales productivity.
Ensure pricing accuracy
One of the best features of CPQ for small businesses is pricing accuracy. With product and pricing information built into the CPQ system, price quotes are always correct. Sales reps simply answer questions about the deal, then the correct product configuration, and the right price, is automatically generated for them. Leaders can also set guardrails around discounts, so reps can send quotes quickly while protecting margins.
Deliver quotes and close deals faster
Buyers expect companies to respond quickly to their requests for quotes. Just because you have a small sales team doesn’t mean you have to sacrifice response time. CPQ enables sales teams to quickly and easily configure products, generate quotes, and place orders. Getting the right products to customers without spending a lot of time on manual processes frees salespeople to focus on selling.
Integration with CRM
Having a lean tech stack that integrates with a CRM enables small businesses to maximize their spend on technology and minimize the number of tools their sales team needs to learn and use. This also eliminates friction in the sales process by unifying all sales tools into one platform.
CPQ software offers a low-maintenance tool in which to manage product and pricing information. Some CPQs, such as DealHub, are no-code solutions that small businesses can easily implement and maintain.
Easy to use
Small businesses love how easy it is to use a CPQ tool to generate quotes quickly. New sales reps can be onboarded quickly because the CPQ is an extension of the platform they already use daily, their CRM.
Excellent customer experience
When your sales reps can create customized quotes quickly, customers will notice and appreciate the responsiveness. Sending branded, professional quotes creates a lasting positive impression on potential customers.
Where to Start Looking for CPQ
If you’re running a small business, you know how important it is to have the right tools in place to help you manage your operations. CPQ can be very beneficial to SMBs, but it’s crucial to select the right software for your needs, resource limitations, and budget.
With so many different CPQs on the market, how do you know which one is right for your business? Here are a few things to keep in mind as you evaluate different options:
- The size of your business. Some CPQs are designed for larger businesses and may not be a good fit for a small operation. Choose one that will scale with your business but is not too complex for your sales operations team to manage.
- The complexity of your products. If you sell simple products that don’t require a lot of customization, you may not need a CPQ with a lot of bells and whistles.
- Your budget. CPQs can range in price from a few hundred dollars to several thousand, so it’s important to find one that fits within your budget.
- Your needs. Make sure to evaluate your specific needs and find a CPQ that will help you meet them. Also, find a CPQ vendor that will work with you to customize the software if needed.
Which CPQ is Right for Small Businesses?
For small businesses and startups with limited resources, a CPQ that’s easy to use, easy to implement and maintain, and doesn’t require any code is the best solution. DealHub CPQ helps small sales teams become more productive and efficient. Unlike some CPQ solutions, DealHub can be implemented in a couple of weeks (not months!), so you can start seeing value from your investment right away.
Your sales team will be able to:
- Configure custom quotes based on your customers’ needs
- Generate error-free quotes in any branded format (e.g., DealRoom, PDF, Word, Excel)
- Change quantities and apply discounts without complicated calculations
- Streamline the approval process with automated workflows
- Automatically sync data with your CRM
- Use one software solution for generating quotes and sales documents, contract management, subscription management, and ESignature
How CPQ Software Helps Small Businesses Compete
CPQ Software is an essential tool for small businesses looking to grow. Automating processes and improving efficiency allows companies to focus on what really matters – growing and maintaining profitable customer relationships. A study found that 83% of salespeople are using CPQ platforms, and no company can ignore its potential. As a result, many companies are investing heavily in this type of software.
People Also Ask
What are CPQ tools?
Sales organizations use CPQ tools to streamline and accelerate the sales process by automating key steps, including pricing and quote generation, which in turn reduces errors, speeds up turnaround times, and improves sales team efficiency.
CPQ tools can be used to generate quotes for customers based on their specific needs and requirements. These tools can also be used to manage pricing data, discounts, and other sales information. In addition, CPQ tools can be used to create and manage product catalogs.
CPQ tools are typically web-based applications that can be accessed from any computer with an Internet connection. Some CPQ tools are integrated with customer relationship management (CRM) applications, while others are standalone applications.
How does CPQ software help small businesses and startups?
CPQ software is a great solution for small businesses and startups. It provides a simple and efficient way to manage your product catalog, configure products, and generate quotes. CPQ software can help you save time and money by automating the quoting process and reducing errors.
CPQ software can also help you keep track of your customer relationships and sales pipeline. CPQ software can help you manage your sales team and customer service team by providing a central place to store all your customer data. CPQ software can also help you generate reports and analytics to help you track your progress and optimize your sales process.
How much does it cost to implement CPQ?
The cost of CPQ software varies depending on the features and functionality required. CPQ software is typically priced on a per-user, per-month basis. The cost can range from $50 to $200 per user, per month.
CPQ software can be purchased as a standalone application or as part of a larger CRM or ERP system. CPQ implementations often require professional services to ensure successful deployment and use. The cost of professional services can range from $5,000 to $50,000. However, DealHub’s no-code solution does not require a consulting firm or professional services agency for CPQ implementation.