Install guardrails on your sales process with Salesforce CPQ
As your company grows, your sales process becomes more complicated. You might notice that your sales team slows down as your salespeople struggle to generate proposals and close sales in the same timely manner. What can you do to streamline your sales process and enable your sales team as your company continues to expand?
With features that act as guardrails on your sales process, Salesforce® CPQ is just the tool you need to stay on track. But while CPQ is incredibly powerful, its power can make it confusing to implement and use. At Rackspace, we have engineers who focus solely on CPQ implementation and how to customize it, which means we’ve gained expert knowledge on how to implement CPQ for many different businesses.
This post explains more about Salesforce CPQ and its potential benefits, and how to implement these guardrails on your sales process for the best results.
Why use Salesforce CPQ?
Using a predetermined set of rules, Salesforce CPQ quickly generates quotes and automates pricing for complex sales procedures for a wide range of products. This information significantly reduces the amount of time it takes to generate and approve quotes, reduces average sales time, and increases the average size of your deals. If you find that your sales process is slow and overburdened, consider implementing CPQ.
CPQ also provides your sales process with guardrails that ensure the ideal level of autonomy for your sales team—it enables them to sell while still keeping quality in place. While automatically generating proposals and quotes, it combines and prices products and services according to rules and limitations. This process eliminates errors and saves time, which makes life easier for your sales team and improves sales for your company.
CPQ and the subscription-based economy
Does your company see customers subscribing to your product or service on an ongoing basis, rather than making the purchase outright? CPQ provides particularly useful automation for any company operating in the subscription-based economy.
In a subscription-based economy, consider creating a roadmap that both considers the bigger picture for your business and visually displays the solutions. These solutions have a high level of interdependence, but you need to understand where their role starts and ends.
For example, enterprise resource planning (ERP) systems have been slow to adapt to this type of product offering because they’re not used to recurring revenue or subscription changes, which can make billing complicated.
Best practices in implementing CPQ
After you complete your research and decide that you want to use CPQ at your company, there are a few things you should do.
Identify the scope
Discuss the scope of CPQ with your sales team before you implement it. You might want to tackle a particular element that’s causing you a lot of pain, such as redlining in your contracts, or you might want to overhaul your sales process as a whole. You need to know your precise goals before you start.
Distill your product list
It’s common for product lists to grow over the years, but before you start using CPQ, evaluate which products and services you need. Decide which products are worth moving forward with by looking at each one and asking why it’s there.
Adopt a crawl-walk-run approach
If you try to put the perfect configuration of CPQ in place from day one, the complexity might affect user adoption among your salespeople. On the other hand, if you create a simplified solution that makes sense to your sales team and is easy to use, you bring them with you on the journey, gain their trust, and get their buy-in. Start with processes that are easy to understand and impact the most people, and roll those out first. Then, when your sales team is comfortable with the platform, you can roll out the more complex features.
Implement CPQ with an experienced partner
Because the CPQ tool is so powerful, take advantage of an implementation partner that has dealt with many different use cases and can offer you guidance along the way, whether you need CPQ advisory services or implementation help. The experts at Rackspace always get to know your unique business needs by asking key questions, such as the following ones:
- What process do you currently have?
- What process do you want to have?
- Are you happy with the length of your sales process?
- Is your sales team applying the right discounts?
- What do you consider success?
We then combine your answers about your goals and pain points with our experience to create the best custom solution for your sales process
At Rackspace, we ensure that CPQ acts like guardrails for your company—not slowing down or impeding your sales team, but keeping them on track, making sure the ride is smooth, and allowing CPQ to enable scalable growth. Contact us now to see how CPQ can support your growing company.
Visit www.rackspace.com and click Sales Chat to get started.
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