Companies that use Quote-to-Cash solutions to drive digital transformation are in a prime position to increase productivity and efficiency, retain customers, and increase ROI.
CPQ is one of Salesforce’s most powerful tools to supercharge your digital transformation and enable your organization to be the most productive in a COVID-19 world. Here are five proven ways that can help you accelerate your digital transformation using Salesforce’s CPQ platform. Read along.
#1: Significantly Increase Efficiency by Automating Routine Tasks
Your employees can leverage Salesforce CPQ to reduce the amount of time they spend generating and approving quotes and configuring product bundles. This reduces their workload, especially the routine pricing tasks, and saves time. It can also be used to prepare and revise contracts and invoices, manage renewals, and ensure accurate pricing.
Salesforce CPQ eliminates many of the most tedious and labour-intensive tasks. It lets you automate all of these tasks and offers simple, user-friendly interfaces that won’t have your employees pulling out their hair in frustration.
When your routine tasks are automated and your employees are used to the new way of doing things, there is less risk of human error and they can focus on what they do best — selling!
#2: Use Artificial Intelligence to Optimize Pricing and Monitor Sales
It has never been more important to ensure that the quotes you are sending out are 100% accurate in the current market. It is also equally crucial to ensure that you are not only providing a good deal or service, but your profits are as high as they can be. Peace of mind comes from digital transformation.
Salesforce CPQ eliminates the need for clunky manual processes and reactive responses for monitoring market trends, internal sales data, competitor pricing, customer satisfaction, and price adjustments.
The software uses the power of artificial intelligence to automatically set prices and monitor sales and customer satisfaction data in real-time. In addition, it uses sophisticated algorithms to adjust prices accordingly.
Therefore, your team can focus on creating rules and boundaries that will help dynamic pricing to generate even higher profit margins.
#3: Create Sales Strategies that Win You Over
The success and failure of sales reps often depend on their ability to understand product catalogues and pricing structures quickly. Unfortunately, the amount of information they need to process can become overwhelming, resulting in errors, subpar pricing and discounting, and lower sales.
Guided selling within Salesforce CPQ allows reps to automatically put together the best product configurations and price quotes. This will enable your sales executives to close more deals with consistent, high-quality information.
Here’s how it works:
#4: Unify All Your Channels for an Enhanced Customer Experience
To remain competitive in a fast-changing market, especially after COVID-19, businesses are increasingly adding new sales channels such as self-service web options, indirect partner sales, and so on. Often, these channels have not been integrated into the business effectively and comprehensively. This leads to inconsistencies and pricing errors. It’s NOT an optimal situation!
Salesforce CPQ unifies all of these channels into one channel-agnostic platform. Instead of developing a sales strategy around one channel at a time, you can create a master strategy that encompasses all your channels. Fewer balls in the air mean fewer errors and an improved customer experience.
#5: Link Your Pricing Databases to Make Managing Seamless
Pricing information at the back-end can be a nightmare to manage. Businesses generally employ entire teams to manually ensure that the pricing information is consistent across all sales channels and is updated down to the system of records. Salesforce’s CPQ solution allows you to connect all your pricing databases, so you can finally get rid of the manual, laborious, and time-consuming updates.
It enables you to manage all pricing databases from a single system of records. Every time you make a pricing change, all relevant pricing databases are automatically updated. Simple.
AblyPro helps in implementing and managing Salesforce CPQ in a smarter way for organizations to achieve stellar results. Our team of experts practices “out-of-the-box” approaches to support your business needs. Tap into AblyPro’s Salesforce CPQ professionals who can configure the perfect solution for your business and enable you to deliver at max potential.
Article Content Source:https://ablypro.com/5-proven-ways-to-accelerate-digital-transformation-using-salesforce-cpq