Pricing applications that improve sales teams’ results are still not widely used in Finland, though more companies are becoming interested. They are often referred to by the acronym CPQ, which stands for configure, price and quote.
An effective, customizable and reactive sales process is a prerequisite for success in many industries. A successfully launched pricing application offers advantages such as real-time and customized pricing, automated additional content and attachments for quotes and a much better overall customer experience.
Anyone thinking of acquiring a CPQ application may find comparing different systems and selecting the best solution for their needs very difficult. According to surveys, more than half of sales staff feel that the tool in use does not meet their requirements. The perfect CPQ software however pays itself back very quickly.
A comprehensive pricing application usually offers features such as:
- Accurate, smart and automated pricing that easily and quickly takes into account the requirements for complex product features, product combinations, dynamic discounts and sales strategies
- Automated and real-time quote approvals
- Real-time availability and utilization of complex product information to support sales teams
Other advantages of using a CPQ tool:
- An easier process for - A uniform sales process
- Automating administrative functions and releasing the sales staff to do what they do best – sell
In an upcoming blog, our expert will show how your organization should prepare for the pricing
application selection process.