A long
drawn-out sales cycle is an indication that you are not using an appropriate web quoting software
tools to create quotes. This occurs, many times due to complex or configurable
nature of products. Many value added resellers (VARS) have catalogs containing
a wide range of possible configurations. Dealing with such complex ordering can
become tricky if you are not using a CPQ solution.
You will need
to move to a CPQ solution due to the following reasons:
Unable to Handle Complex Quoting
Requirements
As the
complexity of product offerings increase, it can become difficult to handle
quoting requirements. You are facing a tough time dealing with the process of
configuring products. For instance, offering a unique combination of products
and services as per customer needs can be a challenging task without a CPQ
software. So preparing a quote with custom configurations won’t
be easy if you are not using a CPQ solution.
Unable to Leverage Upselling Opportunities
According to Aberdeen
group, a technology and service company, average
deal size for businesses with a CPQ solution was 105 percent greater than the average
deal for businesses without CPQ. This is because, while you are a preparing a
quote, the CPQ software automatically offers upsell options that are
appropriate to the products included in the quote. Thus with CPQ, you get an
automated guide of relevant upsell opportunities during quote creation. In a
way, CPQ helps to upsell products with maximum success. So to make the most of
upselling opportunities, you need to use a CPQ solution.
You are losing Customers due to Long Wait Times
Making your customer wait to get
their quotes is like giving an open invitation to lose a sales opportunity. Creating
complex products or bundling existing products and services is bound to be time
consuming. Hence by the time you generate the quote, the customer would have
received the quote from your competitors. However, if you are serious about
closing the deal, you need to create and send complex quote quickly to the
customer using CPQ sales quoting
software.
You are Generating Inaccurate Quotes that is
Hurting your Business
Eliminating
quoting errors is critical to improving your business. Just image the
configuration errors that you make while quoting get passed down to order
processing. So when the customer actually receives the product with configuration
that he hasn’t approved, the order is likely to be rejected. This can result in
huge loss of revenue. To avoid such costly mistakes, you need to use CPQ
software that will help you to generate prompt error-free quotes.
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