The domain of B2B selling is not one that you can call simple and get away with. It’s the exact opposite of that. Yes, you figured it right
It’s a highly complex market, with intense competition from every side. As a result, sales teams are working outside of their work hours as well, most of the time. That’s not because they have added responsibilities, but because of the never-ending portfolios of complex products, bigger and more demanding quotes, and also satisfying their customers with an amazing experience.
All of this is a little too overwhelming, even for a team of the most dedicated sales reps. This is when something like configure price quote solutions make lives for everyone easier- for the sales reps as well the customers.
CPQ software solutions have been nothing short of a game-changer for B2B manufacturing companies. Configure price quote solutions provide an accelerated path for sales reps to put the quotes in a customer’s hands as quickly as possible. The right CPQ tool easily enhances an organization’s existing CRM systems, bringing to the fore a heightened degree of flexibility
As far as CPQ customer experience is concerned, things become too simple for them. Making a purchase is a very pleasant experience, as they get bragging rights to give a final design to their product before they purchase it.
But a question arises- how to choose the best among many configure price quote solutions?
We have the answer for you! Keep reading on for more.
Factors to Consider When Choosing the Right CPQ Solution
CPQ implementation is a tricky business, and it works both ways. While the right CPQ tool can turn productivity on its head, landing on the wrong one can have the opposite effect. This is why it’s important to watch out for the right attributes for your choice of configure price quote solutions-
- Financial Feasibility
There’s no use for a CPQ system that is so costly that you spend years recovering the cost itself. By striking the right balance between affordability and feasibility, you ensure that Return on Investment starts right away with the very first product sold.
While some CPQ software solutions have a one-time flat fee, some offer a fixed monthly tariff. You should be able to make the right choice in terms of the financial model that suits your organization.
- The CPQ Architecture
Native and hybrid are two crucial CPQ architectures that differ on the grounds of their usability. Configure price quote solutions with native architecture is tailor-made for particular CRM systems, and cannot be integrated with other CRM systems.
However, in the case of a hybrid architecture, the CPQ system can easily work with any type of CRM or ERP system. Keep in mind that your regional teams might make use of different ERP or CRM platforms, and you will have to consider the kind of flexibility you are looking at.
- Ease of Communication
A CPQ software revolves around major points of reducing costs, increasing productivity, and making quote generation a super-smooth process. Moreover, everything is trackable and guided selling is a genuine process.
All of this is done to foster better collaboration for both the sales teams as well as the customers. If your current list of CPQ software solutions does not include a tool that eases communication, then you need to keep looking.
- Ease of Use
Try to get a CPQ tool that’s simple to use. Applying too many brains to just navigate through is not what you should invest in. Smooth navigation also translates to efficiency in production elements like contracts, quotes, and other related aspects.
Clutter-free CPQ implementation leads to complete adoption within the organization as a whole, which is why it’s even surprising to find companies that have complicated platforms in the time of Agile methodologies.
- Flexible AI & ML
In the present scenario, many CPQ solution providers boast of including AI on their platform, but this is limited to a few aspects in most of them. Such configure price quote solutions struggle when the customer base changes, market changes, and AI needs to implement changes to adapt and function with the changes.
Get yourself a CPQ solution that can work in sync with Machine Learning feedbacks. This will ensure that none of your recommended products go out of relevance, thanks to constant upgrades in the store.
- Don’t Go for Popularity
As an experienced sales manager, you may opt to recommend a popular CPQ without considering its merits and demerits to the management. This can take your organization to the opposite of progress at a pace where you won’t even realize what happened.
Invest a good amount of time to finalize a suitable CPQ platform and consider every option of every possible scale. A CPQ should be a one-time decision, and regrets will only lead to more damage.
In The End
Configure Price Quote solutions have a lot of styles and scales. These are just a few of those factors that you should surely consider, while the other ones can depend on the kind of operations your business has. If you think progress is something you deeply strive for, KBMax offers a lot of features that will tick a lot of the right boxes for you.