How To Make The Most Of Configure Price Quote Solutions

1. How To Make The Most Of Configure Price Quote Solutions? ====================================================================== Configure Price Quote solutions have been used in manufacturing industries to configure intricate goods. The "C" in CPQ is no longer the only sector to benefit from these solutions, as their use has spread to almost every industry. Many businesses are expanding their product offers to include extra services and solutions to combat product commoditization and maintain a competitive edge. It complicates the sales process even in sectors that produce more standardized goods. Salespeople need tools that will help them be more productive and make better judgments, and businesses need solutions to handle the growing complexity of pricing reasoning. At last, the "P" and "Q" in CPQ solutions find their meaning. It's not surprising that the CPQ software industry has been expanding quickly, given the dynamic nature of the modern corporate landscape. Technavio forecasted market growth of USD 1.14 billion between 2020 and 2024. Step 1: Determine qualification criteria Given CPQ's broad usage, businesses should still determine whether or not Configure Price Quote solutions are necessary to achieve their goals. CPQ's usefulness is primarily affected by two factors: 1) the complexity of the products or services sold and 2) the complexity of the business processes involved in making those sales. The advantages of implementing configurator solutions may be restricted if the bulk of the company's offerings is based on conventional pricing and a basic product catalog. It's also possible that the CPQ software solutions aren't ideal for your business if you primarily tender on big, intricate technical projects with lengthy sales cycles. The sweet spot usually sits in the middle when tendering involves unique terms, and goods and services need some modification to suit each client's needs. Step Two: Establish Goals Having unclear corporate goals is a common thread across problematic beginnings. Projects without predetermined business objectives are more likely to experience scope creep and diversion of attention. Additionally, tracking and assessing the project's progress throughout and after its execution is not feasible if specific goals and related metrics are not placed beforehand. Companies may enhance their sales and bidding procedures by comparing them to industry standards. It is important to describe the current state of affairs and define new goals based on this baseline to develop a clear expectation for the outcomes of the Configure Price Quote solutions implementation. Step Three: Take stock of how prepared you are Many businesses go right into CPQ deployment without ensuring the foundation is solid. It is the most typical cause of CPQ project delays and expense overruns. Companies must examine their preparedness in advance to prevent these difficulties and guarantee functional fit.

2. The catalog of products and services must be polished and presentable. In addition, businesses must determine the necessary framework, features, configuration settings, and rules that govern the bundling of individual products and services. In this way, CPQ solutions need a lot of pre-planning, to begin with. Step Four: Confident Adoption If consumers don't want to utilize the new Configure Price Quote solutions, it doesn't matter how well it's programmed. As a result, it's crucial to include the sales team in the CPQ solutions assessment and development process from the very start. Therefore, it is essential to solving the most pressing problems facing sales representatives and management. Since configurator solutions often fail in companies where sales management needs are on priority, the interests of salespeople should be number one in the event of a conflict of interest. However, it's important to highlight that CPQ solutions often fail in businesses where sales representatives aren't mandated to utilize the system. This has two major conclusions for the CPQ software solutions as a whole. First, although it's important that CPQ must be intuitive to use, it also has to be strategically placed such that there's no way for sales reps to do their jobs effectively without it. Second, CPQ deployment has to sync with the company's strategy to get top-level support and motivate sales management to push for its widespread use. Final Words- Companies use Epicor's Configure Price Quote solutions to save expenses and enhance revenues by methodically managing offers. A thorough examination of all options for streamlining the quotation process directly influences time, expenditures, and risk, resulting in a greater success rate for your bids. Contact Epicor now to see how your company can accelerate digital commercial excellence projects and advantages even further.