CPQ for SaaS
CPQ stands for Configure Price Quote. Let's find out how SaaS-companies can create quotes smoother and increase sales.
CPQ for SaaS
SaaS business need to constantly evolve and adapt to survive the demands of the marketplace. The competitive landscape or customer preferences can change quickly, and you need to change your business processes accordingly to win more business.
Configure, Price, Quote (CPQ) is software that makes it possible for sales teams to generate quotes with speed and accuracy. There are several reasons to invest in a CPQ tool for your SaaS business, let's go through each individual component to understand the benefits:
Customization and personalization are the new norms in SaaS sales. CPQ can help you tailor your products and services to the needs and expectations of your customers. Most SaaS Scale-ups introduce new products and services as they grow, so your sales team need to understand how to combine and bundle your offering correctly.
If the sales team make mistakes, then it will be your customer success team that will have to try to save the situation to prevent churn. Imagine for example selling an enterprise-level solution without the proper onboarding and service level agreement.
Price is always subject to change in SaaS as you grow. Sometimes you need that extra flexibility to close that specific logo as well. We get it. This means your sales team needs to stay updated on your current discounts, volume pricing, bundles to be able to quickly produce correct quotes to your customers.
CPQ makes it very easy to standardize and implement updated pricing and pricing rules to your entire sales team automatically. You will no longer need to update quoting spreadsheets or document templates.
Maintaining a library of document templates for quotes and other sales documents is no longer needed if you use CPQ. Your quote templates instantly become dynamic and fully customizable so that correct quotes are auto generated. The quotes that your sales team creates need to be an accurate representation of the sales process up until the quoting stage and the customer needs to be clear about what they are paying for and what the contract terms are. Your quotes will accurately represent the professionalism in your organization. We did a survey during 2021 which found that 92% of all decision makers are missing important information when they receive quotes and proposals from salespeople. This makes it harder for internal champions in your accounts to move the deal forward to a buying decision. At vloxq we are experts at making sure that all the relevant information is included and presented in a clear way in our customer’s quotes and proposals so that can get more decisions, faster.
At vloxq we are experts at making sure that all the relevant information is included and presented in a clear way in our customer’s quotes and proposals so that can get more decisions, faster.
In short: A CPQ-solution such as vloxq CPQ can help you streamline your entire SaaS sales process
CPQ will eliminate human errors and stop using spreadsheets and document templates and instead create customized and personalized quotes in just a few minutes.