How CPQ Software can Speed up your Sales Cycle

As we all know, a sales cycle is a step-by-step process related to closing a sale. It is a multi-stage process that involves converting an initial contact into a customer. In this sequence of phases, if the quoting activity is time-taking, your sales cycle will drag on endlessly. When you are dealing with highly configurable products, your quoting process can be tedious if done manually. The key to simplify quoting and add a huge boost to your sales cycle is to use a CPQ software.

This software tool has played a key role to speed up the quote-to-order process. It is a sales solution, designed to ease the process of selling configurable products. Identifying and selecting the right components to create a configuration can be time-consuming. However, you can automate the process using CPQ and always ensure that the right components are selected as per customer’s requirements to form a configuration in minimum amount of time.

Pricing a configuration is yet another difficult task since many components are involved in creating a configuration. Moreover, some of the components may have to be sold at a discount price. All these pricing strategies have to be taken into consideration when pricing a configuration. When done using Excel sheets, accuracy is often the first casualty. Hence, there is immense loss of time and money while quoting a configuration manually. Configure price quote software provides a quick way to price a configuration. The software tool takes into account the discount/promotion codes at the time of configuring a product.

Keep in mind that when a customer requests a quote for a complex product, it is a big deal that you should convert into a sale. However, if you are going to take a long time to create a quote, your chances of closing the deal reduce drastically. However, with CPQ tool, you create complex quotes quickly, hence are in a position to close bigger deals faster.