Why Online CPQ Software is the Best Sales Quoting Tool?

Want to sell smarter and grow sales? Firstly choose the right approach to manage your quotes. Quoting is the most challenging part of the sales process. A manual approach to quoting can make it difficult to create quotes but you can simplify this process by using an appropriate CPQ tool.

Do you know the secret of a high-performance sales team? Well, they use the right technology and spend very little time on administrative tasks.

Top 6 Reasons to Choose an Online CPQ Solution

1. CPQ Software Shortens your Sales Cycle

Quoting is a crucial component of the sales cycle wherein you offer products to your prospects. Many times, quote creation tends to be complex. You have to deal with returned quotes as they are inaccurate. This often leads to lengthy sales cycles and difficulty in getting new contracts.

An automation tool like CPQ software will help to simplify the complexity in your quoting process. It injects speed into your quote creation process no matter complex it is.

With a CPQ tool, you can get a strong grip on your quoting process. The software tool accelerates your quoting process and subsequently your sales cycle. In one study it was observed that companies experience a 28% shorter sales cycle with a CPQ system.

2. CPQ tool Boosts Quoting Productivity

When done manually, quoting a complex product might take several hours. On the other hand, the same thing can be done in a matter of minutes using configure price quote solutions.

With a CPQ tool, quoting productivity takes a big leap. The software tool automates your quoting process; you can create quotes faster irrespective of their complexity.

3. Increase in Lead Conversion Rate

When you use a CPQ solution to manage your quoting process, your quotes look professional and attractive. You are able to fulfill any quoting request instantly. Your prospects don't have to wait for long hours to get a custom quote. All this translates into a higher lead conversion rate. Sales organizations that use the CPQ tool show a 17% higher conversion rate.

4. Manage your Quoting from Anywhere

Anytime anywhere quoting is possible with online CPQ software. An online CPQ tool works on the Internet. The quoting application is delivered via the Internet, which means all you need is a stable Internet connection to access and operate your quoting software.

Configure price and quote complex products from anywhere as long as you have access to an Internet-enabled device. Unlike an on-premise CPQ system, you do not remain tied to your office for your quoting.

5. CPQ Software Improves Sales Performance

A CPQ platform allows you to handle a greater number of quotes, which automatically translates into higher sales. Also, a CPQ tool allows you to store cross-sell and upsell related information at one place.

While you are developing a quote, the software tool automatically suggests upsells and cross-sells that are relevant to your original product. This can help you to increase average order size and overall sales. Business organizations that use this software application
exhibit 105% larger than the average order size.

6. CPQ System Eliminates Quoting

Are your quotes going back and forth before being finally accepted? Are your quotes going through several revisions before the prospect finally approves them? If yes, it is an indication of too many mistakes in your quotes.

Errors in quotes are unacceptable as they put a very bad impression of your business. A CPQ system brings accuracy into your quoting process no matter what type of pricing
method you have employed.

Usage of configure price quote software comes with statistics-backed-benefits. Incorporating it into your organization is the best thing you could do to achieve your business goals.

On the whole, if you want to win more contracts, proposals, and quotes, it is important to use a CPQ solution to create quotes. Your entire quoting team will perform better.