In light of the recent WannaCry ransomware hack, it’s worth considering how we can preserve valuable data and protect our often mission-critical processes relating to pricing and deal construction. For an organisation that trades daily, or works on deals, quotes and orders daily, a system lock out can be disastrous – repercussions can range from the cost of losing business to huge losses in productivity both of which can amount to thousands of pounds, euros or dollars.
The peerless Stratechery blog gives more insight into the problem of purchased software vs SaaS as a whole, so let’s just consider some of the implications for Configure, Price and Quote (CPQ) processes.
If your CPQ system is a spreadsheet and you can’t access your computer, you can’t work on your deals. Your salespeople won’t be able to move business forward. Your customers will become dissatisfied. Entire orders may be lost. A recent survey found that 34% of respondents were using spreadsheets or email to manage changes to products or pricing. If this applies to you, you need to consider where your data is safest.
Whether you have a home-grown or on-premise CPQ solution you’ll face the same issues. In fact, we know of a few cases where the home-grown system is the problem. One of the conditions that allowed WannaCry to spread was old, unsupported, unpatched operating systems. An old CPQ solution could be making your business vulnerable and could stop you from moving your infrastructure forward.
With a cloud based CPQ system you get access to your software as a service. Not only is the task of securing the system and data from attack placed in the hands of a company who lives and breathes CPQ. They will ensure systems are current, databases are patched, integration points are secure and exploits are fixed centrally. Teams who live and die by their ability to provide a robust and secure service can carry out all the above tasks professionally and consistently leaving you with peace of mind. It leaves your resources free to focus on their competitive strengths, and protects your ability to sell more, faster.
If you’d like more information on moving your CPQ, deal construction or pricing processes to the Cloud, please get in touch.
