As your company grows, your sales process becomes more complex. You might have noticed that your sales team has slowed down as your salespeople struggle to generate proposals and close sales in the same timely manner. What can you do to streamline your sales process and enable your sales team as your company continues to expand?
With features that act as guardrails on your sales process, Salesforce’s CPQ could be just the tool you need to stay on track. But while CPQ is incredibly powerful, its power can make it confusing to implement and use. At RelationEdge, we have engineers who focus solely on CPQ implementation and how to customize it for businesses, which means we’ve gained expert knowledge on how to implement CPQ for many different businesses.
In this post, I’ll explain more about Salesforce CPQ and its potential benefits for your company, as well as how to implement these guardrails on your sales process for the best results.
Why Use Salesforce CPQ?
Using a predetermined set of rules, Salesforce CPQ quickly generates quotes and automates pricing for complex sales procedures or a wide range of products. This significantly reduces the amount of time it takes for quotes to be generated and approved, reduces average sales time, and increases the average size of your deals. If you’re finding that your sales process is becoming slow and overburdened, implementing CPQ could be the solution.
CPQ also provides you with guardrails for your sales process. These guardrails ensure the ideal level of autonomy for your sales team: it allows them to sell, while still keeping quality in place. Products and services are combined and priced according to rules and limitations, while proposals and quotes are automatically generated. This eliminates errors and saves time, which makes life easier on your sales team and improves sales for your company.
CPQ and the Subscription-Based Economy
Does your company see customers subscribing to your product or service on an ongoing basis, rather than making the purchase outright? The automation that CPQ provides is particularly useful for any company operating in the subscription-based economy.
In a subscription-based economy, it is important to create a roadmap that considers the bigger picture for your business that visually displays the solutions. The solutions involved have a high level of interdependence but it is important to understand where their role starts and ends.
For example, Enterprise resource planning (ERP) systems have been slow to adapt to this type of product offering — they’re not used to recurring revenue or subscription changes, which can make billing complicated.
Best Practices in Implementing CPQ
Once you’ve done your research and decided that you want to use CPQ at your company, there are a few things you should do.
Identify the Scope
It’s important to discuss the scope of CPQ with your sales team before you implement it. It might be that you really want to tackle a certain element that’s causing you a lot of pain, like redlining in your contracts, or you might want to overhaul your sales process as a whole. You need to know exactly what your goals are first.
Distill Your Product List
It’s common for product lists to grow over the years, but before you start using CPQ you should evaluate which products and services you need. Decide which products are worth moving forward with by looking at each one and asking why it’s there.
Adopt a “Crawl-Walk-Run” Approach
If you try to put the most perfect configuration of CPQ in place from day one, the complexity might affect user adoption among your salespeople. On the other hand, if you create a solution that makes sense to your sales team and isn’t so hard to use, you will bring them with you on the journey, gain their trust and get their buy-in. Start with processes that are easy to understand and impact the most people, and roll those out first. Then, when your sales team is more comfortable with the platform, you can roll out the more complex features.
Implementing CPQ with a Partner
One of the best ways to get started with CPQ implementation is to work with an experienced implementation partner.
Because the CPQ tool is so powerful, it can be extremely beneficial to have an implementation partner that has dealt with many different use cases and can offer you guidance along the way whether this is CPQ Advisory Services and/or the CPQ Implementation. The experts at RelationEdge always get to know your unique business needs by asking key questions, such as:
- What is the “as-is” process you currently have?
- What is the “to-be” process you want to move towards?
- Are you happy with the length of your sales process?
- Is your sales team applying the right size of discounts?
- What do you consider success?
We then combine your answers on your goals and pain points with our experience to create the best custom solution for your sales process
At RelationEdge, we ensure CPQ acts like guardrails at your company — not slowing down or impeding your sales team, but keeping them on track, making sure the ride is smooth and allow CPQ to enable scalable growth. Contact us now to see how CPQ can support your growing company.