What Is CPQ & How Can It Help Manufacturers Using Salesforce

1. What Is CPQ & How Can It Help Manufacturers Using Salesforce? ========================================================================= Over the past few decades, the industrial sector has shown tremendous disruptions. Once-manual processes are now entirely automated. Manufacturers can collect, store, and analyze a lot of data to better understand their customers’ thanks to CRM platforms like Salesforce. And by implementing CPQ software, they can seamlessly unite front and back-office teams, provide a winning customer experience, and boost sales. This article examines the advantages of CPQ solutions for Salesforce users. It specifically looks at 1. CPQ Software: What Is It? •The Advantages of CPQ Software To Companies Internally •The Advantages of Using CPQ Software Externally 2. CPQ for Salesforce 3. The CPQ in Salesforce: Advantages and Drawbacks •The Advantages of Salesforce CPQ •The Drawbacks of Salesforce CPQ 4. What are the alternative CPQ Tools for Salesforce Users? CPQ Software: What Is It? The market for configure, price, and quote (CPQ) software is expected to reach $3.9 billion globally by 2026 and is a necessity for modern production. Below, we explore how this nascent technology benefits manufacturing organizations and their customers. The Advantages of CPQ Software To Companies Internally, For complicated sales operations, CPQ solutions offer a single source of truth, doing away with needless and time-consuming manual processes. Once manufacturers settle on how they want their products to be configured, priced, and sold, they can then use advanced rules engines to build an automated configurator on top of these rules. It is important to note that when we use the term "configurator," we're referring to the visual user interfaces that sales representatives and clients use to build and interact with items online. After a customer converts, the in-product configurators of the CPQ system immediately generate BOMs, cut sheets, inventory status, and assembly documentation and communicate crucial manufacturing data to the shop floor. Not only does this reduce manual effort, but it also eliminates errors from creeping into the manufacturing process. As per Moriah Hillbrand, Business Analyst at Tuff Shed, an Epicor CPQ user: “From a production perspective, CPQ enables us to stay aligned as a company and confident in our product output. It has truly been a game changer for us.” The Advantages of Using CPQ Software Externally

2. Manufacturers place a strong priority on being customer-centric, and for a good reason. Happy customers are loyal customers, and retention is cheaper than new customer acquisition. In what ways does CPQ software affect the customer experience? Simply put, it changes it. Customers can self-serve throughout the complete purchasing process with the help of CPQ solutions. They can customize products at will and instantly see how much their changes affect the price. The best part is that consumers may engage with the product as if it were physically in front of them, thanks to advanced 2D, 3D, and AR visualizations. These configurators increase conversion rates by up to 40% and deal size by around 105%—showing just how important they are to powering a top-drawer customer experience. Beyond just visualizations, buyers gain from a precise, error-free, and easy purchasing process.This boosts customer satisfaction and helps manufacturers maintain high customer retention rates. CPQ for Salesforce Users of Salesforce may be delighted to discover that the company has a CPQ built into the Sales Cloud platform, which enables manufacturers to quickly import CRM data from their Salesforce account into the CPQ. This data can then be used to personalize the customer’s experience, increasing manufacturers’ retention rates. The CPQ in Salesforce: Advantages and Drawbacks While the Salesforce CPQ has many value-added advantages, it is by no means flawless. Below, we lift the lid on Salesforce CPQ, exploring its benefits and drawbacks in closer detail. The Advantages of Salesforce CPQ There are numerous advantages to using Salesforce CPQ. It Facilitates Quick, Error-Free Quotation Manufacturers claim that Salesforce CPQ speeds up quote production by 10x, reduces approval time by 95%, and helps them close more business. It Serves As The Only Source Of Truth. Manufacturers benefit from a quote-to-cash process that is 200% faster thanks to Salesforce's CPQ solution. This is hardly surprising considering that Salesforce CPQ is native to the entire platform. Businesses can handle all of their orders, invoices, and reports in one location, which improves productivity and lessens confusion. It Offers Guided Selling Competencies The guided selling features of Salesforce's CPQ enables manufacturers to train new staff 30% more quickly than before. It Aids Manufacturers In Increasing Their Subscriptions

3. Manufacturers can engage in multi-dimensional quoting for subscription products using Salesforce's CPQ solution, which boosts retention rates and increases customer lifetime value. The Drawbacks of Salesforce CPQ Unfortunately, there is much room for improvement with the Salesforce CPQ. Let’s explore these areas in closer detail. It Isn't Customer-focused This is a serious flaw. Salesforce’s CPQ software lets itself down because users can’t easily embed its configurators into customer-facing websites, unlike other leading CPQ solutions. It Offers a Slow (Yet Too Simplicistic) System When implementing CPQ software, manufacturers anticipate time savings because certain systems can speed up sales processes by as much as 38%. Unfortunately, the Salesforce CPQ is slow and unresponsive, decreasing efficiency and negatively impacting conversion rates. This is understandable if Salesforce CPQ could perform tasks that other CPQs are unable to, but this is no longer the case. While it’s adept at handling simple product rules, it, unfortunately, comes unstuck when trying to deal with technical, more advanced products. There Are No 3D Configurators The use of 3D configurations (or even VR/AR-based configurations) enables manufacturers to onboard new reps more quickly, reduce lead times, and increase design accuracy. However, the Salesforce CPQ solution lacks its own 3D configurators—meaning manufacturers miss out on these benefits. It Isn't Compatible With Others Modern manufacturing businesses rely on integrations to keep everything running smoothly by bringing together various tools to produce an efficient process. At least, that’s what’s supposed to happen. Salesforce CPQ cannot readily interface with other technologies outside of Salesforce CRM (think ERP systems, eCommerce platforms, and CAD systems, among others). Customers Cannot Drag And Drop Particular Line Items Customers with huge orders totaling tens of thousands of dollars are particularly irritated by the Salesforce CPQ's lack of the ability to drag, drop, or rearrange line items on quotes. It Is Tough To Use Not to mention, the Salesforce CPQ is less user-friendly than other CPQ technologies that are currently available. Reps need to undergo rigorous training before they can even use it, which is valuable time that they could spend on other higher-value tasks (like interacting with customers, for example). What are the alternative CPQ Tools for Salesforce Users?

4. There are several advantages to using the CPQ tool for Salesforce users. However, it’s not the be-all and end-all—especially when you compare it to other CPQ tools. Consider Epicor CPQ, which can perform tasks that Salesforce CPQ is unable to. It’s easy to use, integrates with a wide range of tools, and allows manufacturers to embed 2D, 3D, or AR configurators into customer-facing websites. But don't just believe what we say. As Jeff Smith, Engineering & Design CAD Specialist at Timberlane, Inc., says, “Learn and use this platform. It will turn your company around.”