We work with companies to improve a host of different business processes. Sales data, customer services and marketing automation are among the top needs. Every day we see companies embracing Salesforce and realizing the new possibilities before them.
Once a company has cracked the code on how to bridge gaps among its sales team, they’ve got the bug. They want to better connect sales and marketing team, and sales and services teams, and so on.
More and more we see companies tackling an arguably tougher nugget. How do we break down the silos and connect the quote, contract, renewal and revenue management processes? Configure, price, quote (CPQ) solutions have been chipping away at this challenge for decades and are at the peak of their game. According to Gartner, growth and adoption of configure, price, quote solutions grew 20% from 2014 to 2015 and are predicted to continue at the same rate through 2020.
So how do configure, price, quote solutions like Salesforce CPQ help, and why are so many companies getting on board? We’ve got a whole crew of Torrent Guides that are CPQ-certified and ready to nerd-out with you about its benefits. They’ve followed CPQ solutions as they matured, they’ve seen hype reach its fever pitch and they’ve managed multiple projects for early-adopting companies. Here are their top-five reasons it pays to automate the Quote-To-Cash process.
- Ease. CPQ has been around for a long time, and we think one of its barriers to breaking through was that it wasn’t easy to use. Those challenges have ceased since Salesforce acquired Steelbrick (for Salesforce CPQ) and rolled out Lightning. With a great user interface, it’s intuitive to adopt, so companies really can experience the next four benefits.
- Speed. Salesforce CPQ keeps up-to-date pricing and discount figures, automates quote and contract creation, and streamlines approval processes. So sales operations isn’t chasing down the latest promotions details, manually creating the paperwork, or sending quotes that sit in an Inbox for a few days before being opened.
- Accuracy. By automating the Quote-To-Cash process in Salesforce, every sales rep has the right products and services with the right prices and promotions at his or her fingertips. That means sales can give the most accurate information to customers and leaders can use controls to prevent rogue special offers.
- Opportunity. CPQ hones data and information to give you insight into which services, product configurations and options are most appealing to the customer and most profitable to you. That leads to increased sales size and customer satisfaction, as well as more upsell and cross-sell opportunities with existing customers.
- Retention. Renewals are a big stream of recurring revenue for most companies. Once you have a customer, it’s generally most profitable to keep them. CPQ takes renewals from an issue-prone manual process to an automated process that ensures renewals are timely, meet contracted terms and pricing, and don’t leave money on the table.
With a well-configured Salesforce CPQ companies help sales teams sell, administrative teams retain control and leaders realize a serious competitive edge. Reach out to us to get an assessment of your existing quote-to-cash process and learn how you can maximize Salesforce. Or continue learning by downloading our free eBook: