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What is CPQ, and How Does it Make Complex Ordering Simpler

CPQ e-commerce has become the new way of attracting customers. While many have been using it, a fundamental awareness has still been found missing as to what the fuss is all about. We try to make it simple for you, once and for all! For more details visit kbmax.com

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What is CPQ, and How Does it Make Complex Ordering Simpler

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  1. What is CPQ, and How Does it Make Complex Ordering Simpler? ========================================================================= The traditional model of B2B operations is constantly changing today. Instant resolution of queries has become a basic requirement for every customer. The biggest difference between the past and present is that buyers expect a B2C-like experience even with their B2B transactions too. Such expectations have been the reason that gave rise to the use of CPQ in the first place. What is CPQ software? CPQ stands for Configure, Price, Quote, a type of software that empowers the sales teams to simplify their sales process by generating highly accurate quotes for complex products. Every single part of the entire CPQ ecommerce process has a key role to play in it all- Configure The very first element of this abbreviation embodies a big part of what the entire process aims to accomplish. This present age has made customers more informed, which understandably leads them to expect quick resolutions to their problems. Their purchases too, reflect this notion, which is why they need to be given liberty on the final form of the product, something that they can ‘configure’. Price Gone are the days when a uniform pricing strategy was appropriate enough to keep things working. Today, there’s a lot more to take care of. A single incorrect quote can lead to losses that will trickle down to every department and level. In short, a single incorrect quote can have damaging consequences. Quote Quotes generated by your sales team should be accurate and concise, professional, and needs to reflect the right price during a sales cycle. Complex products are fine, but complex quotes render the whole scope of sophisticated CPQ resources completely meaningless. Working of CPQ E-Commerce Tool To explain the working, suffice to say that the right CPQ tool helps to clear out the challenges during every phase of the sales cycle by bringing together multiple options like guided selling, process automation, and proper quote management. A cutting-edge CPQ e-commerce tool can completely change the quote-to-cash process by making use of its robust rules engine to provide the right kind of discounts, customizations, approvals, and the like. The consequence is a highly agile sales team with a knack for super-quick sales cycles. The Benefits of CPQ Software

  2. Investing in CPQ software might be a worthwhile investment, and we give you some reasons why- 1- Guided Selling Brings Better Customer Understanding The ability to connect with the customer is the biggest challenge for any sales representative. However, this connection cannot be fully forged if the customer is not asked the correct set of questions. CPQ allows the users to a guided-selling process, asking them specific questions about their needs. Once this is done, the gathered data can be used to offer customized experiences to every single customer, which is exactly what all the fuss is about. 2- Don’t Lose a Sale Due to Incorrect Information Customers only respond to submitting information once, after which every time a sales rep confronts the same one for questions, there will be disparities in their responses. Software and related CPQ resources can avoid such situations with the help of automatic logic and business processes. The outcome is customers that have sorted product bundles at the time of making their purchases. 3- Completely Sorting the Sales Cycles Gone are the days when those redundant manual entries took up most of a sales rep’s working day. With CPQ resources and tools though, the days of Excel spreadsheets become a thing of the past, leading to significant reductions in the duration of sales cycles. And it’s just a start. As technology becomes more sophisticated every day, the coming years will see these sales cycles become more reduced in their durations, which will never be something to complain about. Make this Investment Today With CPQ, self-service becomes an attribute in itself, allowing the customers an experience that’s highly immersive and solves their configuration issues on a single, compact platform. While there are plenty of CPQ resources, one like KBMax offers integration with your existing ERP and CRM systems, making life simple, and one full of blissful business. What are you waiting for then?

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