Configure, Price, Quote (CPQ) software has been around for decades. This sometimes-overlooked sales tool has enabled companies that take advantage of it to accurately and quickly generate quotes for orders. Quotes are produced based on the preprogrammed rules such as account quantities, available discounts, the multiple revenue types, etc. In general, users of CPQ software report:

• 10x faster quote generations
• Moving from quote to cash 2x faster
• 95% reduction in approval time

Software is constantly changing and CPQ is the new wave in sales optimization. Have you been contemplating adding CPQ but question the impact that CPQ software could have on your business? According to case studies performed and analyzed from 2015-2020 by Nucleus Research, Inc., it was determined that CPQ solutions delivered accelerated business value across the board

Possibly the most eye-opening finding is that investing in CPQ returns on average $6.22 for every dollar spent. Talk about ROI (Return on Investment)! Imagine the impact that could have on your business. In addition, organizations have seen:

• Increase in the number of quotes
  • Businesses that leverage CPQ solutions allow for new sales channels and payment methods to attract new customers. With this software, quotes are generated faster which directly allows for an increase in quotes for your new customers.
• Faster time-to-close
  • Generating quotes used to be one of the most time-consuming manual processes in sales, but this is no longer the case with CPQ software. CPQ generates these quotes more quickly, removes potential human error, and delivers the quote to the customer with greater speed which initiates a more expedient sale.
• Reduced operational costs
  • CPQ software allows for accurate and up-to-date pricing and product options that will reduce errors in quoting and result in a reduction of long-term hard costs.
• Improved customer satisfaction
  • With human error removed from generating quotes, customers can be more certain that the quote they are given is accurate which ensures long-term satisfaction and reduces costs from incorrect order errors.

Successful businesses are ones that have moved toward modernizing their IT stacks through migrating applications to the cloud. CRM and ERP are the most complex and largest applications that a company can deploy, and they are generally kept separate as they involve different data and business. As more companies look to centralize with a single platform, connecting sales processes with billing and reconciliation (or CRM and ERP) to enable true lead-to-cash has become the targeted goal. CPQ technology is the ideal first step in modernizing businesses as it is the step between sales and billing.  CPQ serves as an ideal bridge for organizations looking to integrate CRM and ERP.

For more information regarding ERP, CRM, CPQ and ROI (Return on Investment), visit www.godlan.com or call 586.464.4400 today!