Sales quotes are the backbone of the strategies and tactics leadership will present during sales kickoff 2021. They touch every aspect of the sales cycle. Generating them is often a cross-departmental effort; presenting them to leads sets the tone for what kind of experience they can expect if they become a customer.
For these reasons, emphasizing getting the quoting right in the coming year is one of the most important things sales leadership can do to maximize the SKO 2021 revenue opportunity.
But what does that mean? Research from Microsoft shows buyers respond to personalized quotes 25% faster than generic ones. Buyers reward teams that distinguish themselves by quickly delivering quotes that accurately reflect their needs.
Achieving this requires teams to replace their manual processes with next-generation sales technology that empowers sales reps to generate smarter quotes, and unlock more revenue, in the coming year.
DealHub CPQ is the next-generation technology that unlocks the maximum revenue opportunity for every prospect in your pipeline!
Manual Quoting Harms the Revenue Opportunity of SKO 2021
Sales processes that use old, manual ways of generating sales quotes make it difficult to capitalize on SKO 2021s revenue opportunity. Too many inefficiencies exists for companies to maintain manual quoting and maintain an edge over the competition.
For starters, creating quotes manually from a spreadsheet and product catalogue is an error-prone process. Sales reps can easily use incorrect coupling information, fail to make changes to reflect current sales strategy, or even make basic data entry errors. These mistakes can in-turn lead to quotes that don’t meet SLAs, fail to protect margins, and require reps to make changes once negotiations have already begun.
In addition to inaccuracies, manual quoting also fails to maximize the revenue potential from product bundling. It is difficult, if not impossible, for sales reps to remember every potential cross-sell and upsell opportunity. Even if they do, they must ‘go with their gut’ when setting specific quote terms–which doesn’t make effective use of corporate data about the best product and pricing combinations.
Moreover, these error filled manual processes also often add insult to injury by requiring layers of cumbersome manual administrative approvals along the way to creating them. For example, cross-departmental communication between Sales, Procurement, and Legal can set dozens of separate email chains in motion. These processes increase the amount of time it takes to get quotes into the hands of buyers, and force stakeholders to waste time on manual administrative tasks.
For all these reasons, today’s advanced sales teams use DealHub’s next-generation CPQ to generate smarter quotes and unlock the full revenue opportunity of leaderships’ sales strategies.
“Compared to what we were using prior, DealHub has greatly decreased the time it takes for us to generate detailed quotes.”
DealHub CPQs Smarter Quotes Unlock SKOs Revenue Opportunity
DealHub CPQ replaces manual sales processes with advanced technology that empowers sales teams to automatically create smarter sales quotes. It’s how today’s highest-performing sales teams maximize the revenue opportunity of every deal in their pipeline.
Here’s how it generates quotes more intelligently, and eliminates the problems caused by manual quoting processes:
100% Accurate Quotes
DealHub CPQ eliminates the need for sales reps to manually use Excel sheets to create product and pricing combinations. Leadership can input the information into DealHub a single time, and then set rules for product and pricing that conform to current strategies.
Then, sales reps can use DealHub CPQs advanced guided selling sales playbooks to use that information intelligently. Reps are asked a series of questions about their deal, and DealHub CPQ matches their responses to the product and pricing information added by leadership. The result is a smart quote that is both 100% accurate, and also represents the pricing/product combination that will achieve the most revenue.
Optimized Subscription Management
In addition to accuracy and bundling, DealHub CPQ also automatically generates upsell and cross-sell bundling options. Instead of having sales reps guess at what products a buyer will be interested in (or forget altogether), DealHub CPQ crunches corporate data to understand buyer personas and make recommendations based on what upsells and cross-sells have already been proven to work in the past.
Sales reps get the benefit of intelligent data to help them with not just a quote for the products a lead requests, but with the quote that, taking the entire product catalogue into account, is most likely to have maximum revenue impact.
Eliminate Administrative Tasks
DealHub CPQ also streamlines interdepartmental communication channels when generating these smart quotes.
First, leadership can set maximum discount thresholds below which approval is automatically granted. That eliminates the need to process routine discounts. Second, when an approval is necessary, DealHub CPQ automatically sends notifications to relevant stakeholders. And third, DealHub CPQ performs version control, maintaining a single source of truth as changes are made; teams never have to waste time reconciling versions. In other words, DealHub CPQ not only creates more intelligent quotes, but it does so in a way that is far smarter than manual processes could ever hope to be.
Are you ready to put the intelligence of next-generation CPQ technology to work for you? 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 revenues to new heights today and in the future.
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