CPQ: A Powerful Solution for B2Bs
The Easy Button
If you’re a B2B, have you ever wished for an “Easy Button?” Started in 2005 as part of an ad campaign for Staples, the office supply company, the Easy Button has become a funny metaphor for finding better solutions to frustrating situations. In business, as well as life in general, sadly, there’s no actual Easy Button, but we’re all trying to simplify the processes we use and find better, more streamlined ways forward.
B2Bs, by the nature of their businesses, face a complicated selling process, with many variables that can cause errors and delays. A base product can be configured in multiple ways, with multiple components, pricing varies based on the configuration, and preparing a custom price quote depends on both of those factors.
The CPQ Solution
A strong Configure, Price, Quote (CPQ) solution has the power to cut through the complexities of the B2B sales process and make it easier to deliver the right product at the right price, to every customer. IBM Configure, Price, Quote simplifies challenging selling processes by automating the configuration, pricing and quoting of complex products, services and bundles. This streamlined sales process guides eCommerce customers, sales teams, call center representatives and partners in selecting and validating the right products and services. When the B2B sales process is streamlined, overall efficiency improves, and in turn, so do customer experience and revenue.
The Aberdeen Group published findings in August 2017 that show what a powerful tool CPQ can be for B2Bs. CPQ delivers value where it matters – users are able to grow their profit margins at a 57% greater rate (6.4% vs. 4.1%), compared to non-CPQ users. And CPQ users increase revenue 48% year over year compared to non-users (12.6% vs.8.5%).
The right CPQ process enables organizations to ensure each customer gets the right and complete solution. It can streamline B2B processes that can be cumbersome due to complex product configurations, pricing or quote preparation. And the value of a good CPQ to business extends to profit margins and revenue. It’s no Easy Button, but CPQ is a powerful tool for B2Bs.
To learn more, read our whitepaper, “5 Steps to Transform Selling”.
Or, click the button for more quick stats that demonstrate the power of CPQ for B2Bs.
via Watson Customer Engagement https://ibm.co/2pQ2V0a
September 6, 2017 at 06:51AM