Have you heard about CPQ software? This powerful software can seriously help your business. Businesses from large to small are investing in CPQ software to expedite sales quoting to customers as well as making their internal pricing and product management functions more efficient.
Here, we will look at what CPQ software is. We will let you know why this market is growing. Then, we will make some predictions for the year 2015 in the world of CPQ software.
What is CPQ Software?
CPQ software stands for Configure, Price, Quote software. This software can help you to automate many of your sales processes.
The software ensures quick and error free product configurations so your sales people can focus on selling. Pricing rules ensure your business logic is in place, approvals are streamlined and fast decisions can be made with just the right information. Finally your customers receive an accurate and attractive quote, generated automatically. Overall your time to quote reduces and in many cases, sales figures will rise, no matter how large or small your organisation.
Why CPQ is Growing
Business adoption of CPQ software is growing in leaps and bounds.
Why? Many businesses have found CPQ has seriously helped them to streamline processes. What used to take a salesperson quite a bit of time can now be done instantly.
From creating winning proposals to preserving margin and more, you can do it with just a few clicks. More and more businesses in markets like Manufacturing, High-Tech, IT Services, Telecoms, Life Sciences Financial Services and Advertising are extremely happy to have this sort of power on their side.
It can result in saved work time, saved money, and better customer service. Combined, all these things can keep your customers coming back for more.
So many companies have now invested in CRM or ERP systems. The CPQ software market is growing rapidly as it is the next logical step in sales automation.
Projections for 2015
In 2015, look for the CPQ market to keep expanding. Businesses who are already turning to other cloud-based services to expedite services are likely to discover the power of this sort of software.
Expect businesses that are selling this sort of software to begin moving exclusively to the cloud, as well. Leaders like Oracle and Salesforce are already integrating CPQ software into mobile apps, and this will continue throughout the year. Such seamless integration can truly help salespeople on the go.
Also look for more vendors that tightly integrate CPQ with other sales automation tools marketing automation, sales incentives and e-business tools will all benefit from being aligned with the power of CPQ.
Finally we’ll see CPQ benefitting smaller organisations too. Watch for the rise in CPQ vendors serving the SMB market and customers with simpler requirements, ensuring that sales people everywhere can see the benefit of CPQ.
This article was written by Andy Pieroux, MD of The Walpole Partnership. The Walpole Partnership provides guidance and support to businesses that have invested in, or are considering, tools to enhance sales productivity. The company specialises in Configuration, Pricing and Quoting (CPQ) systems. Clients report significant benefits from their expertise in CPQ and appreciate having skilled resources to support them throughout a whole project.
Contact Andy Pieroux
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