SAP CPQ improves sales performance via smart automation of custom-tailored pricing for multi-aspect products. A reliable SAP solution provider will adjust and test CPQ software to ensure it is integrated smoothly into a business ecosystem.
Running a profitable business nowadays requires not only a marketable product but also advanced technologies to streamline the sales process. As the world shifts to custom-tailored offers, business owners strive to increase sales and keep their services competitive by shortening response time and adjusting offers to match clients’ requirements.
Expanding a sales team is a relic of the past, and shrewd common sense points to advanced technologies as the optimal variant. Armed with the SAP Configure Price Quote software, sales experts can do wonders. You might have heard about the SAP CPQ solution but are still unaware of its key characteristics and advantages.
What is “Configure Price Quote”?
In short, SAP CPQ represents a cloud-based SaaS developed purposely for generating and managing offers and quotes for businesses with compound multi-aspect product (or service) configurations. Actually, companies with simpler products also benefit from the CPQ solution as the software improves sales efficiency and drives revenue given the enhanced sales performance.
Recognized by Gartner as a Leader in the Magic Quadrant for CPQ Application Suites for five years in a row, the SAP Configure Price Quote has become an essential element for running a successful business across various industries. The automated process of customized offer creation allows companies to convert sale opportunities into a profitable loyal customer base and gear up the monetization of the business.
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With CPQ’s end-to-end quote-generating automation, customers can achieve appreciable accuracy and personalization, adapt quickly to changes, and develop advanced revenue models that are otherwise impracticable.
CPQ software targets and resolves the following issues while creating and managing quotes:
- Multiple complicated product (service) configurations. Even the most experienced and qualified sales pros find it challenging to keep records of complex configurations, when it is a matter of seconds for advanced dedicated software.
- Human factor. It is no secret that humans are prone to errors that might lead to broken agreements with customers and consequent loss of income.
- Time-consuming and tedious process. Customization of quotes and relevant documentation require a good part of the time, which can be dedicated to other sales aspects, such as upselling.
- Upsales & discounts. Typically, sales representatives are focused on creating a customized quote and do not always have time for considering further up-sales to enhance customers’ loyalty.
In general, SAP CPQ increases overall sales productivity via the automation of quotation processes: complex personalized quotes are provided faster — sales optimization has never been easier.
How Do Businesses Benefit from SAP CPQ?
Time-saving and acceleration of quote-creating processes are the most evident advantages of the SAP CPQ implementation. Cost-savings, security, and enhanced cross-company cooperation add up to the set of CPQ’s beneficial features:
– Real-time quote configuration
– Full automation
– Shorter quote generation and approval processes
– Selection of a target group based on limits determining discounts
– Eliminates the gap between production and sales
– Different types of data can be included in the quote (in or out of stock, shipping, and so on)
– Ease of use.
And several other convincing arguments in favor of SAP CPQ:
- Guided sales. When configured properly, CPQ software shortens the time needed for quote creation to a couple of seconds and allows the sales team to focus more on cross-sales and up-sales offering additional custom-tailored options. Sales growth results in faster market expansion and increased revenue.
- Increased sales efficiency. Unlike traditional multiple-sheet quote generation, the CPQ solution displays a personalized offer with key features in a couple of clicks, so that a sales manager can see and approve the offer without repeating the tedious process of product customization.
- Improved operational efficiency. Available anytime and from any device, the cloud-based software enhances the sales team’s productivity: automated algorithms allow adjusting quotes for multi-aspect products in a matter of seconds. Additionally, SAP CPQ can be integrated with SAP CLM (Contract Lifecycle Management), so sales documentation can be ready once a client takes an offer.
- AI-driven performance. The software provides both price customization and built-in analytics: a sales team receives data on best-selling products/services and major performance indicators that assist in further decision-making. Prebuilt predictive analytical tools help to create price/behavior-based recommendations for enhancing sales.
- Optimized performance. Designed for quote and proposal generation, SAP CPQ can be adjusted for your unique business requirements. It also allows email integration, so personalized offers and quotes can be delivered to clients by email right away.
SAP CPQ Integration
SAP CPQ can be used as a standalone instrument or integrated into ERP, e-commerce, or CRM platforms. For instance, the ERM system offers base prices, dependencies, master data, and costs, while CPQ takes care of configuring a quote, its approval, and transferring it to the ERP system. For the e-commerce implementation (for example, in combo with the SAP Commerce Cloud) the quote-generating tool can be integrated into a website or online store.
Besides native connectivity with SAP apps, CPQ software is equipped with ready connectors for integration with non-SAP software and apps for faster data exchange within the system. To further accelerate the sale process, the SAP CPQ solution has the prebuilt e-signature feature.
SAP CPQ can also be adapted to match your business niche or consumer group. A flexible, fast, and practical CPQ solution features a customizable user-friendly interface. SAP CPQ providers ensure flawless integration of the SaaS solution into the existing business environment and adjust the pricing service elements to your specific goals. The quote creation process has never been easier.