Any business wants to maximise profits by pricing their goods and services at the right level – and to control those prices using an accurate pricing solution or price engine. Traditionally for many businesses price management has been conducted using Excel spreadsheets to calculate optimum prices – and to convey these prices to all concerned in the sales process. No-one is saying that Word and Excel Price Lists are a completely flawed system of managing pricing but the modern, accurate and more efficient way is to use a pricing software rather than the old fashioned methods that are so susceptible to error, manipulation and corruption.
This blog was first published by Frank Sohn of Novus CPQ.
This time of year provides a good opportunity to take a moment and think about where the CPQ (Configure-Price-Quote) and Quote-to-Cash market is and where it may go over the coming calendar year.
Configure Price Quote (CPQ) software brings together three critical elements of the sales cycle. It can be applicable in B2C sale interactions, but is more commonly adopted in B2B situations.
Despite the current uncertainties, the economy is still relatively buoyant and the days of recession are a distant memory for most. However, now could be the time to make strategic investments in operational efficiency to reap the benefits in case there is another potential downturn.
Many industry leaders use Configure Price Quote (CPQ) software to inject speed and accuracy into their sales engines. Now could be the time for you to make a strategic investment in quoting software to increase your operational efficiency and give your company profits a real boost.
Are you fed up with errors being made on your quotes?
Does it take you a long time to create quotes manually?
Can you see an opportunity to attract customers with precisely tailored offers - but it's too complicated using your current quoting process?
BlackCurve provides price management and configure price quote (CPQ) software. As mentioned in my earlier blog post detailing BlackCurve's story, many companies are still heavily reliant on spreadsheets and basic pricing strategies that are unknowingly holding them back from growing.
BlackCurve has pointed out in earlier blogs the many problems associated with using spreadsheets to manage your prices. So, if you agree with us that solely using spreadsheets for this task is a bad idea, our recommendation is to make the switch to Configure Price Quote (CPQ) software. Many industry leaders use CPQ software to inject speed and accuracy into their sales engines – could this software be the answer if you are experiencing a sales slowdown – or are troubled by errors and time delays associated with using spreadsheets to manage your prices?
Introduction to Configure Price Quote (CPQ) Software
The worst of the economic downturn is now behind us but many businesses remain under significant economic pressure. Companies have slashed their budgets and reduced their staff but this often means sales teams are required to sell more with fewer resources. Meanwhile, shifts in buyer behaviour have lengthened sales cycles. Basically, things are still tough out there.
Quoting in B2B can be complex - there are many challenges to navigate before the deal is finally sealed – and the nature of B2B does create some special difficulties when it comes to quoting. Lets look at some of the challenges you may currently be facing, and see how they could be resolved.