Companies that use configure price quote (CPQ) technology can respond to buyers faster, give more accurate quotes, keep track of their subscription contacts better, and get data that they can use to keep making their quoting processes better. This helps executives, revenue operations leaders, and sales operations workers make more money.

CPQ software has advanced technology that lets you make complicated quotes quickly and correctly, speed up the approval process for internal quotes, and easily handle subscriptions. CPQ also works with Microsoft Dynamics 365 and Salesforce CRM so that you can send and receive data straight from those systems.

Find out the main reasons why you should use CPQ by reading on.

Quick and Correct Quotes

You need to move quickly to get buyers’ attention. The deal goes to the first team to send a price to a buyer. The best CPQ software generates accurate quotes more quickly and precisely than handwritten methods.

The average time for a DealHub CPQ price is 8 minutes, even for the most complicated ones.

This is possible with our advanced guided selling playbooks because they eliminate the need to look through product and price documents. Instead of going through this time-consuming and error-prone process, leaders only have to enter their pricing strategy once into a rules-based engine. After that, reps talk about each deal they work on and answer a set of questions. The answers are immediately linked to the strategy in DealHub CPQ. The result is a quote that is always correct, no matter how complicated the deal is.

CPQ technology eliminates the chance for human mistakes, making this accuracy possible. Making mistakes when quoting risks losing the buyers’ trust that was built up in the early stages of the deal. In some situations, it can even ruin a deal.

Our playbooks also make it simple and quick to change your sales plan. DealHub CPQ can be used without having to write any code. Changing the layout of the playbooks is often as simple as changing a spreadsheet. This way, you can make changes and ensure that your tactical sales performance is in line with your strategic goals and understandings.

Taking care of subscriptions

CPQ software makes it easy to start, manage, and renew subscriptions, combining several necessary chores into one. Autonomous bills, collections, and quotes are carried out. A CPQ solution treats all subscribers the same way, and each customer can also get discounts, make changes to their bill, or renew their subscription.

Subscribers should be informed about new deals and how their payments are going. CPQ solutions automatically inform you when your licenses expire or renew, making it seem like all channels of contact are part of the same process.

Thanks to subscription management, sales teams can always offer upsells and cross-sells. Getting current subscribers to renew their subscriptions and buy extra things that complement their present subscriptions brings in a lot more money.

DealHub CPQ’s advanced subscription management technology analyzes past deals to find the best mix of goods to offer each type of customer. Manual processes often miss this. Leadership ensures that every deal brings in the most money by examining buyers’ hobbies, past purchases, and activities.

Smooth buyer Experiences

Using CPQ technology makes your quoting processes more automated and streamlined. This lets you connect your quotes to a better buying experience throughout the quote-to-close cycle. Our DealRoom is the best way to make this process go smoothly.

DealRoom has advanced contract lifecycle management (CLM) as a start. You can use pre-approved legal and business language to make sales proposals, handle redlining in one place, and add e-signature straight to the contract with DocuSign or another solution.

DealHub CPQ + DealRoom not only automates different parts of the sales cycle but also makes processes easier at every touchpoint. During the quoting process, leaders can set maximum discounting thresholds. Anything below these limits automatically receives approval, but anything above them requires human review. This speeds up the process while limiting reps to protect the gaps. Stakeholders are automatically told when they need to weigh in on contract negotiations, cutting down on the time required for long email chains.

DealHub gives the sales team a unified way to write sales offers that keep everyone on the same page. Our guided selling playbooks get the critical data needed for quotes, send it to the bargaining stage of a deal, and then connect to your sales tech stack to close the deal.

Improvements Based on Data

Over time, you will need data to improve your sales methods. But hand-based sales methods don’t provide much, if any, useful information. Many sales teams are having trouble getting enough sales data because of how common these bad habits are.

One of the best things about a CPQ is that it provides detailed information on every step of the sales process. DealHub provides information that helps you close more deals and make your sales operations more successful in the long run.

For instance, you can track how quotes turn into sales by hand, but you won’t have a clear picture of what’s happening. Human sales reps don’t always give the bundles and cross-sells that are part of the overall sales strategy. This makes it harder to see what works and what doesn’t. Guided selling playbooks are available in DealHub CPQ; conversely, make sure that quotes align with current pricing and product plans. This gives you a clear picture of what works long-term and what doesn’t.

With DealRoom, reps can see how buyers are responding to your sales content and offer in real time. When you see that a buyer is becoming more interested, you can send the right word to close the deal. You can also try to start talking to them again if you notice that they aren’t talking to each other as much.