We know there are many choices for quote management software (and we’d be happy to discuss the features and benefits that separate the rest from IQX). But if you’re here, you’ve probably already made one critical choice, and that’s to @@stop manually managing proposals and automate this most critical part of the sales process.@@
Automating not only removes opportunities for human error, but can shorten the sales cycle. That helps your business have a more consistent and compelling impact with customers and partners.
Quote management software means fewer fumbles
Everybody makes mistakes. Sometimes, things work out anyway (we either recover and learn from our mistakes or they fall under the category of “happy accidents”) but sometimes, things go south and you burn bridges with customers or lose out on new revenue opportunities simply because of a late reply or an inaccurate price or even a typo. Which is why automating as much of your proposal process as you can is fast becoming a sales best practice.
For example, one of the most costly errors—incorrect pricing—can be avoided with a CPQ solution like IQX. Using its online product and pricing catalog, it becomes nearly impossible for an individual rep to enter a wrong price as they’re selecting from a menu of preconfigured products with centrally managed pricing.
Your quote management software can also help you reduce fumbles when you transfer accounts from one rep to another or when you may have multiple staff members handling and updating accounts. One reason is again centralized administration (in this case, of your contacts database), and another is the amount of sales reporting you should automatically have in place.
(Note: if you’re using a CPQ system that does not have robust tracking and cloud based contact management built in, contact us asap because we can get you up and running with one that does.)
Shorten the sales cycle
Automation means building and sending business quotes faster with faster replies, fewer mistakes, and other business efficiencies that contribute to a shortened sales cycle. Yes, it’s true—the duration of any sales cycle depends as much on the buyer as it does the seller. But based on our years in B2B selling, we’ve found that @@the faster we reply to our customers, the faster they reply to us@@.
It’s basically human nature to respond in kind, so ensure you lead by example and send your quotes quickly (beating the competition, naturally) and leave no customer inquiry unanswered.
Many quotes, one voice
Your sales reps are individuals, likely with their own way of engaging others during their sales pitch. For some, a more personal way of engaging prospects might work (“So, what’s the weather like there in Atlanta?”) whereas others might just like to get to brass tacks (“There’s a faster path to increased revenue, and we can help.”).
But when it comes to proposals, you want your team in lockstep and quote management software is critical: same templates, same branding, same process.
Because while your individual rep is typically talking to and selling an individual prospect or two at company, the proposal they send usually gets seen by a larger group, and a sales rep’s individual approach doesn’t matter so much at this point. At this point, @@you want one consistent, compelling voice in your quotes@@—and a CPQ system ensures that’s exactly what happens.
If you'd like to learn more about this topic or see IQX for yourself with a free demo, contact us.