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When a business expands, the demand of customers increases, which in turn increases its complexity. The product line extends and additional services witness a surge. In addition, with the discount offers, accessory bundles, service add-ons, and expanding geography, it might all muddle up to close deals. How about if a company has software that can manage all the sales-related processes easily?
Companies are increasingly implementing Configure, Price, Quote (CPQ) systems. These apps are intelligent solutions that enable sales teams to generate complete and precise sales quotations for their customers.
Many companies offer CPQ solutions; however, if you are aware of the Salesforce CRM, you might know about its CPQ services.
CPQ stands for Configure, Price, & Quote in Salesforce, which is used to provide accurate pricing for the given product. Salesforce CPQ Integration can be an effective solution for SMEs and large organizations that allows sales channels to automate sales processes.
Most of the product-related data is stored in the Enterprise Resource Planning system. If you integrate your Salesforce CRM with ERP, you can get better benefits from CPQ. You can know more about the Salesforce CPQ Implementation Services with Ksolves.
First, let’s understand what is Salesforce CPQ and how it can help a business.
What is Salesforce CPQ?
In most businesses, selling is a critical procedure. Competition is fierce in many businesses, and sales teams are under intense pressure. Sales representatives all across the world must be able to concentrate on any sales chances that arise. They must be able to respond quickly to any chances for cross-selling and upselling.
Salesforce CPQ is a great sales tool for companies to create quick and accurate quotes for orders in a more organized manner. It helps your sales representatives overcome common sales challenges or obstacles.
If your sales reps use legacy quote configurators, take the time to review quotes manually, or make mistakes sending quotes to prospects, it’s wise to look for the Salesforce CPQ Managed Services and seek help from a Salesforce certified CPQ specialist.
How Salesforce CPQ Helps Increase Revenue
If your business currently uses Salesforce CRM to handle leads and customer connections, implementing the Salesforce CPQ app should not be a big deal. Your sales representatives will be able to work with a prospect from start to end entirely, they will save time and boost the quality of the quotes and proposals they generate. You may also seek help with customizing the Salesforce CPQ solution to get your representatives close deals quickly.
Let’s get familiar with some of the important and popular Salesforce CPQ terminologies.
- Salesforce CPQ Implementation Partners
A Salesforce partnered company will handle comprehensive training and collaborate with businesses to achieve effective salesforce technology. It will assist your sales staff in looking past the issue of learning new technology to a more effective sales process that will result in a deal closing process.
Ksolves is one of the Salesforce CPQ Implementation Partners that will help you with the CPQ services and guide you through the process of how effectively you can use the CPQ tool to increase sales.
- Salesforce CPQ Data Migration
If you plan to switch to Salesforce CPQ, there will be a lot of data that needs to migrate.
Certain conditions must be met before migrating to Salesforce CPQ to guarantee that all resources are moved with the data. For example, if you are migrating a contract, you must also move all the relatable data associated with that particular contact. If there is an existing account in your Salesforce CRM, you must link the required properties to the Salesforce objects so that they can automatically get transferred while migrating data.
It is always advisable to hire an expert’s assistance for Salesforce CPQ Data Migration services. Migrating all the data on your own might cause human errors. Therefore, it is best to consult with Ksolves and migrate all your relevant data to Salesforce CPQ easily.
- Salesforce CPQ Contract Management
Many times the sales process is not as smooth as we would like it to be. As your customers increase, the potential risks associated with them increase too. Before converting your leads into customers, you need to go through the contract phase.
Contracts are an important part of your business agreement. Without contracts, it would be risky to finalize the business deals. With Salesforce CPQ Contract Management service, you can create, store, and retrieve legal agreements.
The contract management software ensures that the contract process is smooth and easy for the user. It reduces timeframes, ensures accuracy, store contract data, automates the key process, and enable digital signatures.
If you need to grab more information about Salesforce CPQ Contract Management, visit Ksolves.
Now as you are aware of the different salesforce CPQ services and terminologies. Let’s understand the benefits of Salesforce CPQ Integration.
Benefits of Salesforce CPQ Integration
1. Product Configuration
The integrated CPQ solution is assisted by a robust configurator that efficiently administers the most complex product configurations. It helps in selling processes through pricing, quotations, explanations of goods, and technical drawings.
2. Guided Selling
Guided selling allows consumers to determine the correct purchase according to their business needs requirements and other vital considerations. For example-operational costs, energy efficiency, planned use, price, and much more.
3. Pricing Options
Established price hierarchies allow the sales team to provide customers with the best-priced products. Your team can determine the pricing and discounts that optimize your profit margins based on factors like units, volume, and utilization.
4. Pricing Adjustments
The CPQ managed services involve several impressive price adjustment features based on criteria such as markups, discounts, and price overrides. With various customization choices, one can monitor and control product prices.
5. CPQ Analytics
The CPQ solution provides Big Data Analytics that unlocks the data scan capabilities to consider price segments and other business factors. This results in highly optimized product offerings that are targeted to meet the client’s requirements and market realities.
6. Proposal Generation
It helps to win sales proposals faster and enables the sales team to develop comprehensive, winning sales proposals in little time, while improving the overall sales margins.
7. E-Signature For Proposals
The e-Signature tool guarantees legal validity and protection in transboundary settings of an electronic transaction. Meet the client’s business needs by ensuring that the necessary products/services are provided on time and within budget by obtaining the eSignature approval.
8. X-Author For Salesforce CPQ
It provides reliable quotes adhering to the best CPQ rules and processes. Your sales representatives will utilize excellent products, including 3D sketches, technical documents, pricing, and product bills, all of which can be rendered in the Sales Cloud.
Note: With the Advanced order management Salesforce CPQ, a business can send multiple orders at different locations. Advance Order Management (AOM) helps to split quotes into multiple orders, generate orders from quotes, syn order details to the ERP, and effectively generate contracts.
The Bottom Line
The features along with the benefits of Salesforce CPQ help shape market-based business decisions well. With the Salesforce integration best practices, not only will you witness a surge in successful deals, but also improve your brand value by adjusting to dynamic market realities. With this regard, Ksolves can be your trusted partner for a successful CPQ integration.
As a Salesforce Certified CPQ Specialist, Ksolves with the help of Salesforce trailhead can troubleshoot your representative’s basic platform issues and provide excellent CPQ related services. All CPQ specialists in our company have gone through intensive Salesforce CPQ training. Plus, our affordable Salesforce CPQ pricing model serves as the icing on the cake.
Do not wait any longer. Start building your business with the top-notch Salesforce CPQ services offered by Ksolves. To stay competitive in this fierce market, switch to Salesforce CPQ.
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Frequently Asked Questions
1. What CPQ services does Ksolves offer?
Ksolves is a Salesforce Ridge (silver) Consulting Partner. At Ksolves, we offer Salesforce CPQ Implementation Service, Salesforce CPQ Development Service, Salesforce CPQ Support Service, and Third-Party Integrations with Salesforce CPQ.
2. What is Salesforce CPQ Managed Services?
Many companies lack the resources to analyze and improve their CRM, make upgrades, and update it with new releases on a regular basis. Salesforce CPQ Managed Services is a proactive strategy to assist organizations in running and managing Salesforce CRM efficiently.
3. What is CPQ mean in Salesforce?
CPQ stands for Configure, Price, and Quote. It is a sales tool that helps companies to provide accurate pricing for any given product. It helps in increasing sales and speeds up the sales process.
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