How CPQ Software are Helping Small Brands Grow Exponentially?

BySunil
  • The current times we are living in are considered to be the best time for small businesses to thrive and flourish with the virtue of modern technology. For the uninitiated, a business is considered to be “small” when it has less than 500 employees (as outline by the U.S. Census Bureau) and earns less than $1 million per year in combined revenue and sales is considered a small business. However, one should keep in mind that there is not an all-encompassing definition for small businesses and its characteristics vary from industry to industry, in different geographies and economies.
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    Two key components that contribute to the growth of small businesses are a growth plan powered with sophisticated technology and a fail-proof pricing strategy. This is when a robust quote invoice software steps into the equation.
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    Configure, Price, Quote (CPQ) Software – Capabilities
    The CPQ software is designed to boost sales by generating and delivering precise, well-drafted quotes that have the potential to turn potential clients into loyal customers. CPQ software often works in tandem with other businesses accelerating technology like CRM to get access to the large repository of customer data and market trends. The smart software can assess this data to find the optimum price for even the most complex product configuration that puts businesses stay ahead in the game.
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    Benefits of CPQ for small businesses:-
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    Pricing made easy for complex customizable products

    Small businesses often sell configurable products and services to ensure that the customer has to pay only for those features that they need in their life. Although this elevates customer satisfaction and sales significantly, it makes the quotation process that much more complex and cumbersome. But not anymore! With the power of AI, CPQ software can deliver accurate quotes devoid of human error even for the most complex configuration. And, that too within minutes.

  • Make efficient use of your available resources

    Small businesses must use their capital judiciously and resources efficiently. A CPQ software eliminates the need for an in-house team for quotations. And, saves the time and effort of your Salesforce so they can focus their energy on selling instead of making quotations.

  • Guided business

    Small businesses trying to penetrate the competitive market often rely upon consumption-based business models that offer a fairer price structure to customers. The CPQ software powered by robust data analytics assesses consumption history and customer data to design attractive bundles that attract targeted customers while elevating profits with higher sales.

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    Boost sales

    Hasten the sales cycle by building higher momentum by responding to prospects who request quotes or information at lightning. Before their attention drifts towards your competitors. This results in attracting new customers efficiently.
    Empower your Salesforce with an easy-to-use, error-proof process to configure and price the products or services they plan to sell. Thus, allowing sales reps to generate client-facing quotes and contracts within minutes with a press of a button.

  • Adjust pricing with real-time data

    The smart software identifies changes in resource prices, buying behavior, and market trends instantly and brings real-time information to the decision table. This enables small brands to adjust their pricing accordingly without wasting time.

  • Conclusion
    The price quote software is helping small brands all across the globe to saving time, boost customer engagement, deliver timely quotations, and increased opportunities including upselling.