Research shows that rather than actively selling, sales teams spend about 66% of their time preparing quotes, proposals, and getting approvals.
It’s shocking, isn’t it?
If sales representatives continue to spend nearly two-thirds of their time on tasks unrelated to selling in today’s fast-paced world, business growth and missed chances will undoubtedly be hampered.
Nobody can deny the significance of smooth business operations and quick transaction closure, particularly when selling a service or product.
As a result, we’ve noticed that most sales teams are looking for best-in-class technology that will offer them an extra push when closing deals. Salesforce CPQ solutions can improve your sales process capabilities and provide you with an advantage over your rivals in this situation.
Recent studies have shown that companies using CPQ solutions have a proposal volume that is roughly 49% higher. And it’s even better if Salesforce CPQ, which has received high praise from G2, has a higher rating than any of the 44 others CPQ providers on the list.
Salesforce expanded Salesforce CPQ with some incredible features in the Spring ’21 version. To assist you and your team in gliding through the sales process with ease, it introduced substantial improvements to the cherished Salesforce CPQ.
Let’s take a look at what those features are and how they’ll benefit your business.
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The Capabilities of CPQ Will Be Strengthened by 4 Salesforce Spring ’21 Features:
1. Continue Working While Contracts Are Being Amended
Users previously had to wait for the contract amendment process to be finished before they could work in the Salesforce environment. When a new option is chosen, you can still operate in your Salesforce environment even if the contract amendment phase is still in effect. Time will be saved, and the sales team’s effectiveness will increase.
2. Switch to Services for Large-Scale Amendment and Renewal
Previously, if the contract field names were too long, you couldn’t move back from the Legacy Renew/Amend Service to the Salesforce CPQ Large-Scale Amendment and Renewal Service. Irrespective of the renewal and amendment service you are using, you may now effortlessly complete your transactions.
3. Contract Larger Orders Faster
Contract orders with 2X line items as before can now be simply created by your sales representatives. The configuration of your organization will determine how many line items are included in the contract.
4. The ‘Permission Set Requirement’ for Contract Amendment and Renewal has been added.
When a user selects the option to “Use Legacy Amend/Renew Service,” the Salesforce CPQ calculator should be given the necessary authorization. Users won’t be able to modify or renew contracts otherwise. But only the Lightning Experience (LEX) in all Salesforce CPQ editions has undergone this adjustment.
You can also bring attention to the assets with lifecycle management’s long-term value.
The order activation and product development logic processes are streamlined as a result of the advanced approval users’ ability to handle their approvals effectively.
Top 6 Reasons Why Your Sales Team Needs Salesforce CPQ:
Sales representatives can automate approvals, track prices, and close deals more quickly because of Salesforce CPQ features set and customizability.
The following six factors make Salesforce CPQ an effective solution:
1. Simpler Product Search
The comprehensive search feature in Salesforce CPQ carefully checks all values in a product, including information like the product name, SKU, and category. As users enter, the auto-complete feature of the website presents items that match their searches. You may even modify what users see on the results page in addition to the robust search. Isn’t it very cool?
2. Prior Approvals:
By setting up pre-defined review paths, advanced approvals allow you to automate and adapt your complex approval processes while saving critical time. This allows your sales team to concentrate on closing business rather than having to wait around for protracted approval processes.
3. MDQ: Multi-Dimensional Quoting
If you have a product that is marketed in yearly segments, MDQ enables you to create bespoke subscription packages for various time periods, negating the need to include numerous quote lines for each segment. It enables sales representatives to be more adaptable when presenting several subscription plans for a specific service, and it makes clients happier by giving them additional choices.
4. Guided Selling:
With the help of guided selling, sales representatives may pick the ideal products and provide quick quotes for them. Your sales teams may navigate the product catalog with the help of a predetermined set of targeted inquiries that you can generate. Not only that, but the questions can also be dynamic and completely adjustable. This makes it simpler for sales representatives to respond swiftly to crucial inquiries about product specifications, quantity requests, and other customer needs.
5. Bundled Products:
When you have bundled products on your side, it’s easier for sales representatives to decide which products go best together and what extra offers can be made to boost revenue. Therefore, the bundled item’s function offers additional products that can (or should) go with the product a user selects for a quote. If you attempt to bundle items that don’t actually go together, you will also receive alerts.
6. Management of subscriptions:
If your goods use subscription-based business models, you are familiar with how challenging it can be to handle continuous memberships and renewals. You can add subscription terms to your products in Salesforce CPQ so that the software will automatically track post-sale subscriptions on your accounts. Since CPQ may then dynamically distribute product prices and terms so that new subscriptions co-terminate with the customer’s existing subscriptions, modifying contracts afterwards becomes simple.
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Conclusion
A robust cloud-based application titled Salesforce CPQ assists in automating and streamlining the entire quotation process from start to finish. With the help of this tool, sales teams may work more productively while businesses can raise customer satisfaction levels. You’ll be on the right track in terms of improving client satisfaction and streamlining your sales proposal if you use the Salesforce CPQ. All brands nowadays are keen to increase their sales and profit levels by utilizing this new, potent weapon. You should update your current practice to use this cutting-edge trendy solution if you want to maintain your competitiveness in the market.
With a focus on the Salesforce platform, AIMDek offers effective Salesforce CPQ implementation services for a range of sectors. If you want to take advantage of Salesforce CPQ services to increase the productivity of your sales team and your company’s sales, contact the best Salesforce Consulting Service provider instantly.
