What is CPQ Consulting?
CPQ consulting is a service where an expert assists a business in setting up, configuring, and optimizing CPQ (Configure, Price, Quote) software to meet their specific needs.
CPQ software
CPQ stands for Configure, Price, Quote, and the software helps businesses quickly create customized product offerings, accurate pricing, and professional quotes for their customers.
CPQ solutions consultants work closely with the organization to understand their current pain points, potential, and requirements thoroughly. This will help the consultants implement the tool efficiently, satisfying all client requirements and improving their sales closure efforts.
An expert CPQ consultant will assist businesses from the initial implementation of the tool and provide continuous support to ensure an efficient sales lifecycle.
Roles of a CPQ Consultant
-
System Implementation
Ensuring CPQ software is accurately configured to meet all business requirements.
-
Customization
Fine-tuning the software for the unique product configurations, pricing rules, and workflows in the company.
-
Integration
Integrating CPQ systems with existing platforms like CRM and ERP systems.
-
Training
Offering training and proper guidance to sales teams and stakeholders to ensure they use the system without any troubles and hiccups.
-
Optimization
Continuously optimize and scale the system by adjusting workflows, features, and configurations based on business changes.
-
Ongoing Support
Providing troubleshooting and support to minimize downtime and system errors during implementation and in the future.
How CPQ Consultants Can Help Overcome Common CPQ Implementation Challenges
Implementing a CPQ system can come with its challenges, but expert consultants can mitigate these issues:
| Challenges | How CPQ Consultants Help |
|---|---|
| Handling highly customizable products | Breaks down complex configurations and uses automation to simplify pricing rules. |
| Smooth data flow between CRM, ERP, and CPQ systems | Integrates these systems seamlessly with CPQ. |
| Team members’ resistance to change | Engages with key stakeholders and provides training to ensure a smooth transition. |
| Inaccurate or outdated sales data | Implements data validation practices to ensure accuracy and consistency. |
| Scalability of CPQ according to business growth | Properly plans and optimizes for scalability, making sure the CPQ system can adapt to future changes. |
What Are the Benefits of CPQ Consulting?
Once your organization decides to opt for CPQ consulting, the perks are many, such as:
1- Tailored Solutions
Since the consultants customize the CPQ software to fit your specific requirements, whether it’s product configurations or pricing rules, you get a tailored solution that perfectly aligns with your sales process.
2- Expertise in Best Practices
CPQ specialists use their industry knowledge to ensure you follow best practices with the software. They help your team work more efficiently, reduce mistakes, and speed up the sales cycle.
3- Seamless Integration
Consultants integrate CPQ with your CRM, ERP, and other systems, saving time on manual data transfers and reducing errors.
4- Ongoing Support and Optimization
CPQ consultants offer their support and assistance from the initial discussions to after the implementation. This ensures that the tool is updated and optimized according to changing business needs and works smoothly.
5- ROI Improvement
Consultants optimize the CPQ system to remove sales lifecycle gaps and speed up the overall process, which in turn improves the productivity of salespeople and allows them to close more deals as fast as possible. This ultimately improves the ROI of the business.
6- Enhanced Customer Experience
With faster, more accurate quotes, CPQ consultants ensure your sales team can provide customers with quick, reliable information. This speed and accuracy enhance customer satisfaction and foster stronger relationships.
7- Scalability for Growth
As the business grows, the product volume, variation, and team size will increase, so the CPQ tool needs to scale along as well. The CPQ consultant will ensure the system scales according to the company’s growth and changes.
CPQ Consulting to Ensure Scalability
CPQ consulting can ensure that the CPQ system can adapt to the company’s scalability changes seamlessly, such as:
- The tool is updated and optimized when new products or services have been added.
- When the business is expanding to new regions or markets, the tool is customized to meet the local pricing and other configuration requirements.
- As the sales team grows, the CPQ system is scaled to handle new users and keeps the standard format across multiple quotes.
What Kind of Businesses Can Benefit from CPQ Consulting?
As you have seen, a CPQ tool can transform the way businesses sell and close deals. What types of businesses require this tool and consulting?
1- Companies with Complex Configuration and Customization Needs
Various industries that need bespoke and complex product requirements such as medical devices, specialty vehicles, IT services, etc., require CPQ solutions. It will help streamline the sales process, such as automating quote generation and pricing applications, considering all nuances of the business with no errors. Manual processing takes time and is error prone.
2- Companies with Complex Pricing Models
Businesses that deal with tiered pricing, discounts, or multiple pricing conditions can struggle with manual pricing calculations. In such companies, CPQ is a relief for the sales team as it automates these complex pricing models, ensuring that prices are accurate and consistent, regardless of the sales channel.
3- Enterprise-Level Organizations
Large companies have a higher chance of different teams working in silos. Multiple salespeople will be handling the sales process as the customer volume will be huge. There should be a single platform to manage all these processes to maintain uniformity in pricing and quoting across the organization, and anyone from the responsible team should have access to this platform to ensure consistency.
4- Businesses with Long Sales Cycles
Some businesses need lengthy negotiations, and a detailed approval process based on the product they are selling. In such situations, CPQ can speed up the entire sales cycle by automating quote generation and approval processes, as accurate and error-free quotes require less time for approval.
Besides these, even smaller businesses can benefit from CPQ by improving their sales efficiency, enabling them to keep up with larger competitors in fast-moving markets.
Choosing the Right CPQ Consulting Partner
Here are a few key points to help you choose the right CPQ consulting partner for your business:
1- Industry Expertise:
Choose a consultant who has expertise or previous experience in your specific industry.
Why: This helps them better understand your sales processes, strategies, and gaps to align the tool well into your current sales lifecycle.
2- Experience with Specific CPQ Software:
Choose one who specializes in a specific CPQ tool.
Why: They will have a clear idea of the full potential of the tool and how efficiently it can align with your sales requirements.
3- Ability to Align with Business Goals:
Choose a dedicated and responsible CPQ consultant who makes an effort to study your business goals, sales strategies, and the current team.
Why: This analysis helps the consultant tailor the CPQ system to add maximum value, optimizing your sales process for better results.
Which is the best CPQ consulting available and who provides it?
Cincom CPQ Consulting to Scale Your Sales Lifecycle
Cincom CPQ is a powerful tool designed to streamline the sales process for businesses dealing with complex products and services. Whether you are in manufacturing, IT, or any industry that requires customized offerings, Cincom CPQ automates and simplifies key aspects of the Configure, Price, Quote (CPQ) process, helping you increase efficiency and reduce errors.
Key Features of Cincom CPQ:
-
Advanced Product Configuration
Cincom CPQ enables businesses to customize even the most complex products and manage specifications based on customer requirements using its powerful and intuitive configuration features.
-
Precise Pricing
Cincom automates pricing using predefined rules, ensuring consistent, accurate quotes and eliminating manual errors.
-
Professional Proposals
Cincom CPQ quickly creates professional, consistent proposals for both standard and complex products, while matching your company’s branding.
-
Seamless Integration
Cincom integrates seamlessly with the existing CRM and ERP systems, ensuring smooth data flow without any disruptions and no breaks in current workflows.
-
Scalable Across Sales Channels
Cincom adapts to various sales channels, enabling businesses to scale operations and expand into new markets seamlessly.
Ready to scale your sales lifecycle?
Schedule a consultation with Cincom’s experts!
Conclusion
Partnering with a CPQ consultant is a smart move for your business. They will drive the acceleration of your sales efforts and boost your sales team’s overall efficiency. By incorporating Cincom CPQ into your sales strategy, you will transform your sales lifecycle and streamline the automation of quoting, pricing, and approval workflows. So, get your CPQ consultation today!
FAQs
1- What does CPQ stand for?
CPQ stands for Configure, Price, Quote. It is a software that helps businesses:
- Quickly create customized product options
- Set accurate pricing
- Generate professional quotes for customers
2- How can CPQ software accelerate the sales cycle?
CPQ accelerates the sales cycle by automating quote creation, ensuring accurate pricing and configurations. This helps to:
- Speed up the sales process
- Reduce time spent on manual tasks
- Help the sales team close deals faster
3- What are the benefits of CPQ consulting?
CPQ consulting offers:
- Tailored solutions for your business needs
- Expert guidance on best practices
- Seamless integration with CRM and ERP systems
- Ongoing support
- Improved sales efficiency
- Faster deal closures
4- Can CPQ software integrate with my CRM and ERP systems?
Yes, CPQ software can integrate with your CRM and ERP systems for smooth data transfer and keeps sales information consistent across platforms.
5- What kind of businesses can benefit from CPQ?
Businesses that deal with:
- Complex products or pricing models (e.g., medical devices, IT services)
- Large enterprises with multiple sales teams
- Businesses with long sales cycles
