As 2021 continues forward, consumers are more and more interested in the various ways that different products and services can be customized to meet their own needs. While this is most readily obvious by the strange and highly complicated coffee-fueled concoctions at businesses like Starbucks, the need for personalization and customization speaks beyond the desire for customers to be trendy. In actuality, every customer has unique needs and concerns when purchasing any product or service, and a one-size-fits-all approach can rarely accommodate all of their needs, hopes, and desires.
This is where something like CPQ tools can come in. CPQ stands for “configure, price, and quote,” and is a type of software that allows businesses to better serve customers who need customizable solutions. For example, CPQ software can help you custom build your own computer online, picking out RAM, graphics cards, and hard drive size.
CPQ software can also help businesses handle a high volume of customizable orders with ease and efficiency, streamlining the manufacturing process and shortening the window of time between an order being placed and the customer or client receiving that order. Read on to learn more about how using CPQ tools can benefit your business.
CPQ software helps your team work smarter, not harder.
Especially if you employ a large team of sales reps, CPQ software can benefit your sales process by giving each sales rep the ability to quickly and efficiently configure and quote large orders. With CPQ implementation, it becomes much easier to deliver accurate quotes to potential buyers in a much shorter amount of time. When you implement a CPQ solution, you’re able to more quickly and efficiently configure an order for a customer. Without the ability to leverage a CPQ platform, this would be a tedious process of mixing and matching the customer’s desired options.
CPQ projects also have a benefit beyond your sales team. For example, while your sales team may handle a large variety of CPQ projects and sales, the CPQ solution you use can also help customers better envision what the product they’re purchasing will look like. With CPQ tools, a customer can get real-time, visual feedback that helps them understand how their decisions are impacting the look and feel of a product. This can also help them better understand how different pricing options impact the bottom line of their total cost, which is a powerful way to energize your online sales workflow. For your sales team and customers alike, using CPQ is a win-win.
CPQ approaches fit a variety of industries.
Another benefit of a CPQ system is that it has a place in a wide range of industries and businesses. For example, the CPQ process can be useful in a large homebuilding project, letting construction workers and product managers know how various additions and inspections impact the total cost of a project every step of the way. This can ultimately ensure that you get the quality work you want since you can still leverage a company with years of experience in the construction industry on, for example, a roofing project, without wondering how the roofing contractor will impact your bottom line.
A CPQ system could even be useful for roofers in Melbourne, FL, the surrounding area, and other parts of the United States. This is because CPQ solutions offer customization for individual projects, such as different roofing materials, styles, and finishes. All of this helps to maintain a budget while anticipating pain points, meaning that professionals from all kinds of industries can find a way to use CPQ on their next implementation project to great success. No matter what your business type is, the likelihood is high that CPQ can help you streamline your approach to offering complex products and services to customers throughout the quote process.