Propel Sales Efficiency and Innovation with Cloud CPQ Solutions

In businesses with complex pricing structures, diverse product offerings and customers that demand quick and accurate quotes, clinging to spreadsheet-based methods can lead to inefficiencies, errors and lost opportunities.

The reliance on spreadsheets is deep-rooted. Constructing them often requires a considerable investment of time and effort, leading to a deep sense of ownership and pride. Practically they are considered easy to navigate, are more cost-effective than professional Configure, Price, Quote (CPQ) solutions and salespeople who are familiar with them trust their existing calculations.

But according to Leandi Campher, a solutions architect at EXAH, for businesses to truly transform digitally the spreadsheet must fall.

“Spreadsheets are prone to human error which risks data integrity and compromises on efficiency and growth potential. Lack of scalability and integration with other business systems creates data silos, hindering effective decision-making and collaboration. It’s slow response to market changes reduces competitive edge and leads to missed opportunities in innovation and customer engagement. We’ve often found that when clients shift to a specialised, more agile solution like CPQ, they invariably uncover innovative pricing strategies leading to new opportunities for revenue creation,” says Campher.

To make the shift, she suggests businesses consider the following:

• The purpose of specialised cloud CPQ solutions is to quickly and accurately generate personalised price quotes for customers. CPQ applications operate in conjunction with CRM platforms, ERP systems and various other business technologies, which ensures the integration of data and overall accuracy.

• Price quotes are automated according to a preprogrammed set of rules which are pre-approved by management – which results in significant cost and time savings. When deployed and used correctly, sales reps have reported 10 times faster quote generation, a 95% reduction in approval time and two times faster movement from quote to cash.

• Given the complex nature of CPQ environments, it’s important to partner with a seasoned expert to help your IT team navigate the intricate maze of sales processes that demands meticulous planning and strategic foresight.

• Look for a CPQ  that has the ability to seamlessly integrate with an organisation’s existing tech stack, which could include a diverse mix of CRM systems, ERP systems, e-commerce platforms, financial software, business intelligence tools, and data warehouses. It should also be equipped to connect various applications, data, and devices across both on-premises and cloud environments. These capabilities ensures seamless integration and maximises the utility in diverse technological landscapes.

The transition from spreadsheets, though daunting at first, signals a bold step towards greater efficiency and accuracy in complex sales processes. It can open doors to unprecedented levels of innovation, customer engagement, and revenue growth.

In businesses with complex pricing structures, diverse product offerings and customers that demand quick and accurate quotes, clinging to spreadsheet-based methods can lead to inefficiencies, errors and lost opportunities.

The reliance on spreadsheets is deep-rooted. Constructing them often requires a considerable investment of time and effort, leading to a deep sense of ownership and pride. Practically they are considered easy to navigate, are more cost-effective than professional Configure, Price, Quote (CPQ) solutions and salespeople who are familiar with them trust their existing calculations.

But according to Leandi Campher, a solutions architect at EXAH, for businesses to truly transform digitally the spreadsheet must fall.

“Spreadsheets are prone to human error which risks data integrity and compromises on efficiency and growth potential. Lack of scalability and integration with other business systems creates data silos, hindering effective decision-making and collaboration. It’s slow response to market changes reduces competitive edge and leads to missed opportunities in innovation and customer engagement. We’ve often found that when clients shift to a specialised, more agile solution like CPQ, they invariably uncover innovative pricing strategies leading to new opportunities for revenue creation,” says Campher.

To make the shift, she suggests businesses consider the following:

• The purpose of specialised cloud CPQ solutions is to quickly and accurately generate personalised price quotes for customers. CPQ applications operate in conjunction with CRM platforms, ERP systems and various other business technologies, which ensures the integration of data and overall accuracy.

• Price quotes are automated according to a preprogrammed set of rules which are pre-approved by management – which results in significant cost and time savings. When deployed and used correctly, sales reps have reported 10 times faster quote generation, a 95% reduction in approval time and two times faster movement from quote to cash.

• Given the complex nature of CPQ environments, it’s important to partner with a seasoned expert to help your IT team navigate the intricate maze of sales processes that demands meticulous planning and strategic foresight.

• Look for a CPQ  that has the ability to seamlessly integrate with an organisation’s existing tech stack, which could include a diverse mix of CRM systems, ERP systems, e-commerce platforms, financial software, business intelligence tools, and data warehouses. It should also be equipped to connect various applications, data, and devices across both on-premises and cloud environments. These capabilities ensures seamless integration and maximises the utility in diverse technological landscapes.

The transition from spreadsheets, though daunting at first, signals a bold step towards greater efficiency and accuracy in complex sales processes. It can open doors to unprecedented levels of innovation, customer engagement, and revenue growth.