The answer to
this question is a simple ‘Yes’. Imagine your sales reps sending a quotes to
the customer that are haphazardly prepared and without any profit margin. Won’t
it kill business growth and have an adverse impact on overall revenue. To avoid
such a situation, it is necessary that your Configure price quoting system
comes with a workflow approval system.
Every
company follows a set of rules and regulations when it comes to creating quotes.
These rules are usually related to pricing of products and are designed in such
a way that the transaction does not put the company at loss. So one cannot
expect sales reps to bypass these rules in order to win the deal.
Product
pricing will largely vary from one customer to another, depending upon what has
been decided in the contract. For instance, customer Y will be given products
at a discounted price, while you charge 20% markup on all products for customer
Z. So if you want every sales rep to follow these pricing rules while creating
a quote for a particular customer, it is essential that your Quoting System Software
has this module.
In case a
sales reps unknowingly bypasses a rule during quote creation, a notification message
will immediately appear on the screen indicating quote approval necessary
before sending it to the customer. In other words, the workflow module in CPQ
software verifies whether the quote created is being sent as
per the rules set by the management.
A workflow
approval module ensures quotes that wipe out profits, never reach the
customers. The module prevents sales reps from sending quotes that are
detrimental to your company’s financial health. Such quotes that will
negatively affect the company’s income will require approval from the higher authority.
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