Tips for Choosing the Right CPQ Software

Sales in the B2B segment become more complex with every passing day. Managers on the side of suppliers of goods and services are overloaded with offers, and buyers are under the need to meet the demand quickly and with an individual approach. PandaDoc software facilitates sales technologies. An employee of a business operating in B2B becomes more efficient and ready to perform tasks efficiently. Yet, are all CPQ solutions equally capable of providing those benefits?

It is useful for a sales manager to know the characteristics of the software, rather than mindlessly install it on the computer desktop. Choosing software that will meet the business objectives improves sales, and facilitates quick interaction with customers. As a result, the company takes a leading position in the segment and enhances profit margins. The demand for the platform increases year by year. Businesses understand the value of implementing the program into processes and accelerating the work of sales staff. Success is ensured if you know the criteria of how to choose software.

CPQ Tool: What to Look Out For

When choosing software, you need to decide whether it makes sense to buy it. The temptation to purchase popular software without understanding its functionality and appropriateness for a particular business will turn out to be a waste. It is important to decide which tool fits the tasks and long-term goals. It should be affordable from a financial point of view. Some solutions require subscription fees to be paid monthly, while others charge a one-time payment when you buy the software product. Does the business need additional functionality in the software? If not, there is no point in overpaying for something that managers will not use in sales. It’s useful to compare several CPQ solutions to see where extra charges may be required. For instance, it may be the case if the business expands. Unanticipated costs will save you from stress and a drop in sales.

The second important point is that the software should not only meet the needs of the business but also improve the performance of the sales team. If the tool helps managers to track pricing quickly and easily, it will facilitate the collaborative work of the entire team. Sales will become more manageable. Ease of use is an important criterion for successful choice. A CPQ solution should not require significant intellectual or time investment from employees. Drafting a contract, generating quotations, and performing other operations as a team require the use of flexible software.

The third point to consider when choosing a CPQ solution is that it should not cause inconvenience to managers. When employees know how to use the software correctly, and the theory is backed up by practical skills, it ensures sales efficiency and successful deals. It is essential to provide each team member with the tools they need to successfully accomplish their tasks. If the software is slowing down the sales team or limiting opportunities, it’s worth reconsidering the decision. Active communication with managers will help. It is a good idea to take everyone’s suggestions into account so that they can all work successfully.

While choosing a solution, it may be a good idea to take into account possible business expansion. It is useful to focus on tools that will meet the needs as the company develops – increasing sales, signing profitable contracts, and introducing new services and products. It is important to adhere to the “golden mean”. There is no need to choose an option overloaded with unnecessary functionality, yet it must deliver tasks required today.

Also read: How to Create an MVP (Minimum Viable Product)

Selecting CPQ Tools: Opportunities and Uses

The software automates the sales process. Business owners will be convinced of this when they see how much easier and faster the teams can cope with generating quotations and finding solutions like discounts that are appropriate for the customer. Flexibility and speed are advantages provided by the software if it is selected correctly. The sales department will take advantage of an intuitive interface and functionality that will ensure smooth operation. Software automation and the successful cooperation of managers build customers’ trust in the business and make them come back again to get favorable products and services. Here’s a list of things to look out for:

  1. It is important to purchase customizable software. This solves two problems – it meets the needs of the team now and will meet future demands. Switching from a familiar software solution to a new one requires extra effort and time. After all, managers need to familiarize themselves with the interface and learn the features.
  2. A CPQ (Configure, Price, Quote) tool should be compatible with other software products used, for example, CRM. Interconnectivity enables employees to work quickly. They don’t have to spend time learning about software tools that have little in common, and they don’t have to interact with each other. Combining tools will avoid confusion, errors, and delays.
  3. Business is impossible without analytics. It’s important to set up the software to send regular reports so that the owner and employees can see which tools are efficient and what requires improvement. Salespeople are able to improve their personal performance, and processes become more manageable.
  4. Help desk assistance should always be available. When managers call or email a contact number, they will discuss issues with a representative from the software company and resolve the problem.
  5. Sales technologies are rapidly evolving, so it is worth implementing software with regular updates to business processes.

It is important to find an online community like a forum where sales managers from all over the world share experiences, ask questions, answer, and help solve problems together. By joining colleagues, the team of a particular company will improve software skills, and learn about unknown features, thus benefiting the business.

Comparing the various solutions offered by different companies can seem tedious and time-consuming. Sometimes busy schedules encourage users to choose a popular solution, not caring whether it’s right for a particular company. However, some tools may not be suitable for every user. It is important to consider all factors and take the time to choose the best solution, such as a tool by PandaDoc with CPQ functionality so that you don’t have to revisit the solution later on.

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