What does CPQ for small businesses mean?
Configure price quote software, or CPQ, is a must-have for any small or new B2B company that sells goods or services. CPQ speeds up the quoting process by automating jobs that are done repeatedly and ensuring they are done correctly. This makes customers happier and increases sales.
There are many CPQ options, but not all work well for small businesses. For small businesses, the best CPQ software should be cheap, simple to use, and have a lot of features.
Synonyms
- CPQ for small business
- CPQ for startups
- CPQ for SMB
How CPQ helps small businesses with their pricing and quotes
Small business sales teams often have trouble because they don’t have enough tools. This could be anything from a small budget for sales training to a small team, which makes it hard to qualify leads and close deals.
CPQ software is becoming more and more popular among companies that don’t have a lot of salespeople or a lot of sales processes. By automatically making price quotes, CPQ can help sales processes run more smoothly. This makes it easy for small businesses to quickly give buyers accurate price quotes and contracts. Even though your company is small, you can run it as smoothly as bigger ones.
CPQ helps small businesses in the following ways:
Boost the speed of writing
Small and medium-sized businesses (SMBs) must work quickly and correctly to make more money. When small businesses use CPQ software, their sales teams spend less time on administrative chores like making quotes by hand from Excel pricing sheets and Word documents. CPQ simplifies the process of quoting, getting approval, and making documents, which helps businesses be more efficient and make more sales.
Make sure the prices are correct.
Pricing accuracy is one of the best things about CPQ for small companies. The CPQ system has built-in information about products and prices, so price quotes are always right. After-sales reps answer a few questions about the deal, and the correct product configuration and price are made for them instantly. Leaders can also limit prices so that sales reps can send quotes quickly while keeping margins safe.
Get quotes out faster and close deals.
When buyers ask companies for quotes, they expect companies to answer quickly. If your sales team is small, that doesn’t mean you have to slow down on responses. CPQ makes it easy and quick for sales teams to set up goods, get quotes, and place orders. Customers get the correct goods without having to spend a lot of time on manual tasks. This lets salespeople focus on selling.
Getting together with CRM
Small businesses can get the most out of their money on technology by having a lean tech stack that works with a CRM. This way, their sales team doesn’t have to learn how to use as many tools. Putting all sales tools on one site also makes the sales process smoother.
Easy to care for
CPQ software is an easy-to-use way to keep track of information about products and prices. Some CPQs, like DealHub, don’t require coding, making it easy for small businesses to set up and keep up-to-date.
Simple to use
A CPQ tool makes it easy for small businesses to get quotes quickly, which they love. The CPQ is an add-on to the CRM that salespeople use daily, so getting them up to speed quickly is easy.
Great experience for the customer
Customers will notice and value how quickly your sales reps can make customized quotes when they can do it. Sending branded, professional rates make a good impression on potential customers that lasts.
Where to Look for CPQ to Begin
- Everyone who runs a small business knows how important it is to have the right tools to keep things running smoothly. Business-to-business (SMB) CPQ can be very helpful, but picking the right software for your goals, budget, and available resources is essential.
- How can you tell which CPQ is best for your business when there are so many choices? As you think about your choices, here are some things to keep in mind:
- How big your business is. Some CPQs are made for more prominent companies and might not work well for small ones. Pick one that can grow with your company but isn’t too hard for your sales operations team to handle.
- How hard are your goods to use? You might not need a CPQ with many extra features if you only sell simple items that don’t need to be changed much.
- Your spending plan. It’s essential to find a CPQ that doesn’t break the bank—they can cost anywhere from a few hundred to several thousand dollars.
- What you need. It would be best to consider what you need and find a CPQ to help you get it. Also, look for a CPQ provider to let you change the program if needed.
Which CPQ is best for small businesses?
The best CPQ for small businesses and companies with limited resources is simple to use, set up, and keep up-to-date and doesn’t need any code.DealHub CPQ makes it easier for small sales teams to get things done. DealHub can be set up in a couple of weeks, not months, like some CPQ systems, so you can start getting value from your investment immediately.
Your sales team will be able to:
- Make quotes that are specific to the needs of your business
- Make quotes that are free of mistakes in any branded format (DealRoom, PDF, Word, Excel, etc.). Easily change quantities and add discounts
- Automated systems can speed up the approval process.
Keep information in sync with your CRM automatically.
One piece of software can make quotes and sales documents, handle contracts and subscriptions, and allow electronic signatures.
Why CPQ software is suitable for small businesses: Take part.
Small businesses that want to grow need CPQ software more than anything else. By automating tasks and making them more efficient, businesses can focus on what matters: making and keeping profitable relationships with customers. A study found that 83% of sellers use CPQ platforms, meaning no business can ignore their potential. Because of this, many businesses are putting a lot of money into this kind of software.
