Companies always strive to deliver reliable products and services to their customers. To increase customer satisfaction, companies offer products and services with optional features, quantities and other customizable elements. However, these services create complex transactions that are difficult to price accurately.
Fortunately, the CPQ software (Configure, Price, Quote) can help. This application is an excellent sales tool that companies can use to configure their offers accordingly. In this way, companies prevent their customers from being overvalued and earn less from their services. The use of CPQ software has a significant impact on your company. Therefore, it is of the utmost importance to choose the best one CPQ software fit for the goals and needs of your company. Here are some tips that can help entrepreneurs like you choose the best CPQ solutions:
Rate usability in your team:
Prior to considering the detailed technical functions of the software, you should prioritize the selection of a simple CPQ platform. Note that your team is not an expert in this area. Therefore, make sure that not much training is required to operate the software.
In order to assess the degree of user friendliness of the software, the CPQ software should have the following functional features:
- Personalized video tutorials before using the software
- Seamless CRM integration
- Guided sale
- Adjustable rules and prices
- Document customization
- Generate offer creation
- Product catalog
Regardless of how elegant the design of the software is, you can immediately distinguish good CPQ software from bad if it is difficult to use and cannot be configured to your specifications.
Distinguish SaaS and on-premise CPQ software:
In this part, knowing the difference between SaaS and local CPQ software affects the user experience of your team and your customers. There are different types of CPQ software with exclusive specifications. Integrating the right type into your company ensures that you can meet the needs of your customer and the entire business.
Software as a Service (SaaS) CPQ software offers cloud-based CPQ solutions. Essentially, individuals have real-time access to your CPQ software anytime, anywhere, provided you give them access. SaaS technology is widely used in various business environments, including the United States Animation and VFX industries.
Because they are hosted on the Internet, the software provider contributes to software updates, maintenance, and upgrades. In addition, there are no upfront costs, but a monthly or annual subscription to use the advantages and functions of the software. On the other hand, local CPQ software only provides access to the right, authorized users. The service provider installs the program directly on the user's computer. There are no monthly subscriptions, just a one-time payment. On-premise CPQ solutions are relatively more expensive than SaaS. However, you can take complete control of your privacy and security.
Try free demos:
To confirm the features of the CPQ software you choose, software vendors should provide free demos and tutorials to help companies decide whether to continue. Before submitting payments, get a comprehensive overview of the software, its owners, and some customer reports and feedback.
If you have free trials, don't be afraid to watch a free demo and take part in tours offered by CPQ software providers. Trying out demos helps predict the compatibility and success of CPQ software in your company. Implement free trial versions Offers from your CPQ software are also a profitable way to invite customers.
Check availability of prices in real time:
If your business focuses on franchise and sales, make sure that the prices of products and services in your CPQ software are up to date. Vendors regularly update their item quantities and prices, and your CPQ software should be able to reflect these changes in real time.
Real-time pricing information is important to offer your customers the lowest and most accurate prices, especially at last minute events. If your CPQ software cannot display the correct information on your website, your transactions are at risk.
Take a look at the architecture of the configuration engine:
Each CPQ software has a different configuration level that allows business owners to set their own specifications. If you are looking for CPQ software, you will encounter a rule-based configuration engine versus a constraint-based configuration engine.
Put simply, a rule-based configuration system in your CPQ software is ideal for companies that offer simple products that require little to average configuration in the CPQ management tool. If your products and services require a higher configuration level or will be configured in the future, the CPQ software with a configuration system based on restrictions fits your company better.
See CRM integration:
CPQ is an extension of your Customer relationship management (CRM) System. The main purpose of CPQ software is to make processes easier and more precise. However, it can get complicated if your desired CPQ software doesn't match your CRM system.
The CPQ software architecture determines how seamlessly you can integrate the software into your CRM system. There are two general CPQ architectures: CPQs with native or hybrid architecture.
- CPQs for native architecture: Tailored specifically to the CRM system and cannot be used in other CRM systems. You have more targeted and individual functions for your CRM system.
- CPQs for hybrid architecture: Works with any CRM solution and reduces the risk of re-implementing CPQ progress when moving to a different platform.
CPQs lead companies to success and transformation, but are not created equally. If you look at the tips and considerations discussed, you'll find the best CPQ solution for your business. You can then increase customer satisfaction by providing bespoke services while ensuring that you get paid enough.