The ultimate goal of any business is to close as many deals as they possibly can, which is why sales reps play such a significant role in the success of a business. The more deals that are closed, the higher the profit at the end of the month – and the faster the company can grow. Unfortunately, there are still a lot of businesses in the modern world that are utilizing outdated methods to quote clients, process sales, and to collect money from the client. Failure to catch up with modern methods that are used by sales team during the process of closing a deal can cause a business to lose a significant amount of money.
Luckily, it is not difficult to adopt an effective system that can help to streamline the sales process initiated and completed by reps for your business. There are many tools available to help your reps get the job done and to ultimately give your business a boost in profits – a CPQ system is usually considered the best option. In this post, we’ll take a look at what the Salesforce CPQ is able to do for your business and how you can get started to utilize the powerful sales and quotation features that the system has to offer.
Why Your Business Need A CPQ System
A CPQ system, also known as a configure price quote system, is essentially a platform that assists with the process of providing customers with quotations or proposal for products and services that they may need from your business. Before the internet and the many tools that have been developed, sales rep often had to rely on memory in order to provide potential clients with quotations – and pricing data had to be written down on paper. There were no databases with pricing information available. This often led to incorrect quote. When customers are not offered accurate information on how much services or products would cost them, or they are kept in the dark in terms of what they should expect, then they might end up opting for a different supplier or service provider.
With the introduction of CPQ systems, this entire process has been made much more efficient, easier, and more convenient than it has ever been before. These systems allow your business to set up products and services, along with additional factors like upsells, add-ons to existing products and services, and more. All of these features can usually be access on the cloud – which means a sales rep can sign into their account from a mobile device while they are in a meeting with a client, and instantly give them an overview of how much the client would pay for the specific products and services that they might require.
Other features are often also included, such as the ability to send the quotation directly to the customer or to invoice the customer once they have accepted the quotation – without any additional steps.
Why Choose Salesforce CPQ To Empower Your Sales Reps To Close More Deals
There are many options available if you are looking to start using a CPQ system for your business, and providing your sales team access to a system that they can use to make the task of closing deals with potential clients easier. The only problem is that not all of these systems can provide your business with the right tools and adequate quality of code to ensure you can start closing those deals faster than before. There are many tools out there that promise you improvements in your results through an online CPQ platform, yet so many of them will not deliver on the claims they make – they will, however, be happy to take your money.
Salesforce is currently one of the most popular online platforms for improving almost every part of running a business. They offer a wide range of solutions, tools, and software applications, all within the cloud, to help streamline different processes that your business relies on during its day-to-day activities.
The Salesforce CPQ tool was designed to help streamline the process involved with closing a deal – the tool is perfect for a sales rep who is constantly interacting with potential customers. The system is packed with numerous features and can even be integrated with many of the other tools that the Salesforce platform is able to offer its customers – this means that there would be no need to sign into multiple dashboards if you want to access a different tool, such as the invoicing app.
The Salesforce team also provide fast, efficient, and friendly support to every business who might be interested in utilizing their range of solutions – including the Salesforce CPQ tool, of course. They have agents standing by on their live chat system, as well as agents in a call center that can take calls at specified times during the day.
The idea of the Salesforce CPQ platform is to provide your business with a solution that will help you throughout the entire lifecycle of each customer – helping you capture the lead and then convert that lead into a customer.
Salesforce CPQ Features
The features that are introduced to sales reps and the business as a whole in the Salesforce CPQ platform has one goal to offer the business – to help them close their deals faster and to give them the tools they need to collect the cash for that sale faster.
The system is made up of three parts that each provide the business with the ability to reach a specific goal. Let’s take a look at each of these feature categories individually:
- To give sales team the ability to instantly build highly accurate quotations for a sale that a customer might be interested in. This may include a range of products and services that the business has to offer – all previously configured on the platform.
- To generate official proposals, as well as contracts, which will serve as an agreement between the business and their customer. These contracts can be generated from the quotations that have been previously compiled, or configured as a new contract and assigned to a customer’s contact.
- To ensure the business is able to submit invoices and easily get paid for the products or services that their customer was offered. This is the final step – where the business collects the cash and profits in turn. The system allows invoices to be generated with ease and can be configured to include sales tax where appropriate.
In addition to the above-mentioned features, the Salesforce CPQ also offers a subscription billing feature. This is useful for sales reps that are selling services to customers that are based on recurring memberships or subscriptions.
An example would be a company that offers SAAS services – this is a service that is continuously provided to the customer, and usually billed on a month-to-month basis.
The system will automatically generate invoices and bill the client at appropriate dates, as specified in the original contract.
With the addition of billing modules that can be activated on the Salesforce CPQ dashboard, the business is able to collect payments from the customer as well automatically. A variety of payment gateways are supported by the platform, ensuring the customer is provided with convenient ways to pay – such as by credit or debit card, or perhaps through an online payment system like PayPal.
How Much Will Salesforce CPQ Cost Your Business?
The Salesforce CPQ is a relatively affordable system that can give your business a big advantage. While the price of the system may be a little higher than some alternative systems, the tools offered by this CPQ system is superior to most of the competing platforms on the market.
There are three options that your business can take advantage of if you choose to sign up for the Salesforce CPQ system. These options include:
- CPQ – Ideal for any size business and any type of business. This option allows for an unlimited amount of team members to be added to the platform, but the business is billed on a per-user basis. The cost is $75 per month for each user that will utilize the platform. This amount is billed on an annual basis. A one-year subscription will cost your business $900 per user.
- CPQ Plus – An even more advanced option that comes with numerous customizable options that further adds to the overall value your business obtains through the use of this platform. Your business will also be billed per user and on an annual basis. The monthly cost is $150 per user, which means your business will pay $1,800 each year for every user that needs access to the system.
- CPQ Plus with Billing – An integrated solution that offers your business all the features that are available in the CPQ Plus plan, as well as integration with other tools that are part of the Salesforce platform. You can choose between a variety of tools to be integrated with your CPQ Plus subscription, including invoices, orders, contracts, and quote modules. No specific pricing information is provided regarding this particular option, as a custom solution is provided to a business interested in this package – the price will depend on how many users require access to the system, as well as which integration modules need to be activated with the subscription to the main CPQ platform.
* the pricing information is from https://www.salesforce.com/editions-pricing/salesforce-quote-to-cash/ as of November 27th, 2018.
Getting Started With The Salesforce CPQ System
It is really easy to start utilizing the powerful features that the Salesforce CPQ platform has to offer for your own business. What’s more – you are able to get started for free, as the platform comes with a trial offer that gives you access to the system for a few days. This allows you to test the features out yourself – perhaps get one of your sales rep to use the software, and see how things go. If you like what you see, and you notice an improvement in the rate of deals that are closed by your sales reps, then you can decide to go full steam and subscribe to the paid option to continue utilizing the platform to help your business close more deals – and to close them in a more professional way.
To get started, simply visit the Salesforce CPQ page. You can get a complete overview of what the system is about on the page, and you can get in touch with the Salesforce team if you are not sure if this is the system for you. A live chat feature is available to give you instant answers to any questions that you may have. Telephonic support is also available.
When you are ready to take the system for a test drive, simply click on the “Try For Free” button – choose a plan, complete the initial configuration, and you are ready to start testing the software to see how well it can work for your business.
Final Verdict: Let Salesforce CPQ Help Your Sales Rep Close Those Deals Faster
Your business relies on closing sales on a daily basis in order to ensure you can profit at the end of the day, but without the right tools at the disposal of your sales reps, a difficult path may be ahead. Outdated methods no longer work for closing deals fast and effectively, and this may cause potential customers to turn to another business who can provide them with more professional experience.
Salesforce CPQ has helped many businesses streamline their sales process, and helped a countless number of sales reps with the process of closing deals faster and more efficiently. Priced from only $75 per month, this solution can surely help your business get an advantage in the competitive world that businesses are faced with today. It is easy to get started, the platform features a large range of customizable options, and you can even integrate their CPQ tool with other modules to expand the features and make the process of selling to customers even easier.