When a well-known ERP and CRM company such as Infor expands into the CPQ market, that must mean their CPQ products live up to the reputation built by their other business software, right? Well, not necessarily. In fact, not only does Infor CPQ have a license amount requirement, but the product does not truly integrate with their CRM software, like they claim it does.

Products are the primary building elements for CPQ (Configure Price Quote), which is why it’s so important to get data configured properly. Preparing product data for CPQ really comes down to creating attributes, also known as properties, to organize and distinguish the data. Since product data varies from customer to customer let’s use a simple example that speaks to how creating great product data can support a better CPQ experience.

The one glaring advantage of a built-in ERP Configurator is product information integration. All of the product information is the same and communicates stage-to-stage in whatever process is set up. However, there are some huge advantages to a CPQ tool that drive significant value for Sales, and financially for a company, that most configurators do not have.

Does the idea of reducing quote-to-order errors (whether it be pricing or configuring issues) SCARE YOU? Well it did scare me because it meant I had to get out of my comfort zone which was the use of spread sheets, faxes and email. The idea of using a software solution to handle the entire quote to order (cash) process seemed daunting since all I ever used a computer for was email and googling. 

You’re staring a clock in a hotel room and it’s just past midnight. As the minutes tick by, you struggle to make sense of the dozens of tabs you’re switching back and forth between on your laptop, as well as your handwritten notes from two different meetings you had with potential customers today. The spreadsheets, Word documents, and e-mails are all blurring together as you attempt to build quotes for both customers. You promised them quotes by first thing in the morning in hopes of closing deals that could get you out of this hotel room and on the first flight back to your family, but nothing seems to make sense.

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.

Successful businesses are always pursuing objectives that aim to increase the profitability of their revenue streams. Gaining share in new markets, cutting costs, and product or service differentiation are all strategies that many businesses employ. However, one factor that is highly overlooked is the effectiveness of your sales representatives.

Navigating the catalog of a manufacturing company can be as complex as it is large for sales teams. This was the case for pump manufacturer, Hidrostal Pumps, whose business specializes in solutions for solids and sludge handling. Their catalog carried over 2,500 components with each serving a unique function. Hidrostal Pumps had researched other CPQ (Configure, Price, and Quote) tools, and they chose the powerful—but easy to use—configuration abilities of EndeavorCPQ.

Ever wondered how Salesforce.com has been able to scale and grow to a multi-billion dollar companies in less than two decades? What is their magic?

Well, according to a presentation to developers at Dreamforce in 2014, one ingredient of the company’s secret sauce is its multi-tenant architecture.

Coined as “at the core” of their customer-success mindset, the platform’s multi-tenant setup allows business using Salesforce.com to move and grow quickly.

Configure-Price-Quote (CPQ) software can positively impact employees at all levels of a busy organization. From the frontline sales representative answering the phones to the Chief Financial Officer to the inventory control team member, CPQ is often though of as "just for sales", but it adds real value to the entirety of a business. To help potential buyers better understand this value, we've created a ROI Calculator, which produces a free customized value assessment report. This sample report is an example of what you'll receive after completing the six questions in the survey.

So you’ve looked at all of the analyst reports on CPQ. You’ve detailed all of the valuable product features that CPQ offers. You know that CPQ will benefit your department and your company. Your biggest hurdle now is ensuring that you have buy-in with executives to make this valuable software investment. These 4 tips, plus valuable information from our CPQ ROI Calculator, can help you achieve the support you need.

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Wednesday, 21 June 2017 17:00