The Value of CPQ: Boosting Efficiency for The Whole Organization

The Value of CPQ: Boosting Efficiency for The Whole Organization

The Value of CPQ: Boosting Efficiency for The Whole Organization

In business, streamlining business processes like sales, marketing, and manufacturing, is the textbook method of increasing performance with fewer resources. There are many ways to streamline business processes, but few have the scalability of impacting multiple major departments like a quote-to-cash solution, otherwise known as Configure Price Quote (CPQ) software.

CPQ software is designed to automate complex sales processes with features like guided selling and quote approvals that minimize the risks of quoting mistakes. These features help sales teams collaborate with one another as information is centralized for greater transparency. Although CPQ software is built for sales teams, the advantages of automating the sales process are scalable throughout the entire organization.

End-to-End Integration

Some businesses utilize process management software like Enterprise Resource Planning (ERP) and Customer Relationship Management (CRM) to help their departments run more efficiently. Yet, the value of these software stays isolated in their individual departments – limiting their benefits. CPQ software like EndeavorCPQ has an open API for complete integration into many of the leading ERP and CRM brands like Salesforce and Infor. This creates a complete end-to-end workflow between production, distribution, inventory and sales that boosts efficiency and productivity throughout the organization.

Melding Marketing with Sales

Marketing and sales are two closely related departments that are at their best when they work together. For some marketing departments, the research they produce for sales quickly turns obsolete or is incompatible with what they need. With CPQ features like workflow approvals and quote notification triggers, marketing departments are able to work with the business intelligence to provide real-time information about how to generate the most value per-quote.

Connecting sales and marketing can also decrease the time it takes to optimize products and services for stronger market penetration. Marketing teams with real-time sales and quote data can help by proposing better bundles, product updates, pricing changes and other promotional opportunities to win more sales.

Improved Back-End Support

In some organizations, sales and back-end processes like supply chain management rarely interact beyond completing orders. This information silo can greatly inhibit the sales team’s ability to generate quotes that accurately reflect their inventory, leading to an under-managed risk of overloading back-end processes with unfulfilled orders.

A major benefit of utilizing CPQ software is connecting information about products and inventory directly into the sales process for more responsive quotes. With real-time access to inventory information, sales teams can confidently propose large orders and unique product configurations, in less time. In industries with highly complex products and configurations, being able to generate accurate quotes in a timely manner can make all the difference in landing the sale.

Connecting back-end processes with sales is especially beneficial for organizations that offer customized fabrication or built-to-order product configurations. Production managers are directly connected to the sales process, allowing them to prepare resources and facilities for large-custom orders.

The scalable advantages of CPQ software creates a more effective business that is able to respond quickly to changes in its market and processes. CPQ software like EndeavorCPQ is designed to streamline the sales process to generate higher profits per-quote, in lesser time. With sales information feeding into other processes, all efforts are optimized to generate quotes that win more sales.

EndeavorCPQ is a Configure-Price-Quote software solution with an open API that enables end-to-end integration with an organization’s existing ERP or CRM software. Find out how much EndeavorCPQ can increase the value of your organization by trying the ROI calculator on our website today.

Image credit – "Connected" (CC BY-SA 2.0) by  Norbert Reimer 

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