Many organizations offer products, enumerating options, and easy configuration. The CPQ system takes users through a step-by-step process of direct product configuration, presenting them with only the relevant options and removing extraneous choices.
Product configuration that is quick and accurate shortens the sales cycle. Sales representatives can generate quotations and proposals in real time during customer contact, increasing the overall customer experience. This agility in generating bids can provide a competitive advantage to firms, particularly in areas where the response is crucial.
Price accuracy is ensured because CPQ solutions with simple product configurations are often connected with pricing rules and logic. This ensures that the final price offered to the consumer is right and considers all the options and available discounts or promotions.
Some CPQ systems include visualization, allowing customers and sales representatives to see graphical representations of specified items in real-time. This tool improves the purchasing experience by allowing buyers to preview how the product will appear with their selected options, which may lead to more confident purchasing decisions.
The ability to easily configure products in CPQ reduces the need for back-and-forth communication between salespeople and product experts to validate complex settings. This streamlines the quoting process, shortens approval timeframes, and helps sales representatives to close deals more quickly.
The comprehensive Reporting and BI features of an ERP system, organizations can gain valuable insights, monitor performance, and make data-driven decisions. These features empower businesses to optimize operations, identify growth opportunities, and stay ahead in a competitive market.
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