When businesses are young and simple, crafting a proposal is usually easy without any CPQ software: if you only offer a few goods or services, chances are you know just how long it will take to get your product out the door and into a customer's hands. You are a master of the services you offer.
But what happens when your business expands and becomes more complex? A proposal in a complex business requires a service from John down the hall, a product of flexible pricing schedules, a service from Mary that can only be completed once Susan does tasks A, B, and C...before long, crafting a proposal requires more knowledge than one person can keep track of.
The consequences of getting your proposal wrong are serious. Guess too high, and you will lose prospective clients. Guess too low, and you are on the hook to do work at a loss. Guess too late and the client has already gone with someone else. To get the guesswork out of every quote you send, use CPQ software.
The good proposal—precision is key
CPQ software makes the process of designing and delivering proposals quicker and more accurate. It integrates the different services and products your business offers in terms of cost and time into its computations. Further, CPQ software tracks the volatility in product price in real time, making sure that any proposal reflects your most recent pricing only.
To use the software effectively, your business breaks down a proposal into individual products and services. The CPQ software will then calculate the cost and time involved in each part of the proposal to generate a more precise quote than any one person can accomplish.
Sell more for less with CPQ software
The advantages of proposals generated by CPQ software are many.
- First is accuracy. The more accurate your proposal, the better you know your business. And the better you know your business, the easier it is to find new opportunities for growth .
- Second is the speed. The faster you can get a proposal into the hands of a prospective client, the less likely you are to lose out to the competition. And with CPQ software, you don't need to choose between being quick and being accurate.
- Third is adaptability. CPQ software allows prospective clients to compare different versions of their order to see differences in cost in real time. Meaning a client can be sure to find the services that suit them at the right price.
- And finally, the chance to increase sales. CPQ software can determine opportunities to sell additional and complementary products and services that a salesperson might not always notice.
CPQ software will help your business sell more, more accurately, and more quickly.