5 Tips for Selecting the Right CPQ Software

1. 5 Tips for Selecting the Right CPQ Software VARStreet Inc. Contact Us:- VARStreet Inc. 66 Charles street (Beacon Hill), Boston, MA 02114 781-262-0610 Email Id- sales@varstreet.com Twitter:- @Tweet_VARStreet.

2. When it comes to fulfilling complex requirements related to product configuration, pricing and quoting, you can completely rely on a configure price quote (CPQ) software application. Large organizations typically have complex products/ services to offer. In such circumstances, a CPQ solution is recommended, as it enables you to generate quotes in minutes despite having a complex quote-to-cash process. However, vendors offering CPQ services are numerous, thereby causing confusion about choosing the right one. Following are the factors to keep in mind when choosing a CPQ software: Cloud-based or On-Premise CPQ Solution With a cloud-based CPQ solution, you skip the software installation part altogether, which mean you don’t face any technical challenges associated with installation. The vendor provides CPQ services over the Web, which means an internet access enables you to operate the software on desktops, laptops and even mobile devices. Instead of your computer’s hard drive, the internet servers are used for processing and data storage. The complicated job of maintenance and adding new feature to the product is done by the CPQ software vendor at his end. Isn’t that convenient? This enables you to focus on your core business. You only to have to pay a monthly subscription fee in order to access this web quoting software on your computer. Integrates well with your Existing Software Applications If your existing system does not support integration required to incorporate CPQ into your business, it doesn’t make any sense choosing such a sales quoting software that brings data integrity issues. Entering the same data multiple times in different systems is simply a waste of time and effort. The addition should not be a burden on your business, rather the CPQ solution you select should allow you to streamline your business processes. For instance, the integration should automatically populate data for sales quotes into opportunities in your existing CRM system.

3. Supports your Pricing Requirements Your organization will be having different pricing structures for different customers. For instance, you might be using different methods for pricing your products such as cost based pricing, mark-up pricing, customer based pricing and competition based pricing and pricing based on Category/Subcategory. So the CPQ software you select should support all pricing strategies that you are using for establishing pricing of products. Choose the Right Type of Software Since every organization is different, make sure the CPQ you purchase is able to address your specific needs. To be more specific, it should meet you specific configuration needs. Experts opine companies with complex product catalogs that change regularly should prefer a CPQ with a constraint-based configuration engine. On the other hand, organizations whose business activities are not changing with time and have a fixed product catalog can go for CPQ with a rule-based configuration engine. In case you have multiple sales channels, meaning you are also selling products through your partners such as distributers. Moreover, you want your customers to view your quote on different devices including mobile devices such as smartphones and tablets. In such circumstances, it is advised to use a CPQ with omni-channel capabilities. Prefer Vendors that Offer Free Trial Coming to know that the software you have purchased actually does not meet your needs can be a costly mistake. To avoid such a scenario, choose a vendor that is ready to give you a free trial of the software. This way you can find out whether the software is suitable for your organization.