Through a combination of process automation, directed selling, and quote management, CPQ software helps sales teams to overcome the challenges posed at each point of the sales cycle.
You can automate the whole quote-to-cash process with a CPQ tool and subscription management software by pre-programming custom rules for bulk discounts, approvals, customizations, and more. CPQ positions guardrails around them until a sales representative initiates the sales process to ensure that they work within the particular set of guidelines that the company has developed for pricing, discounting, permits, and so on. This makes it easier to be more flexible for the sales team and can help streamline the sales cycle.
At Cloudy Wave, we like to think of CPQ as a sort of bridge between your front-end sales and back-office finance teams. CPQ is a sales tool, not unlike a customer relationship management (CRM) system, but it also involves things like discounts, contract terms, and billing terms, which are more closely related to an enterprise resource planning (ERP) solution. In this way, CPQ fills the gap that exists between CRM and ERP systems, allowing for a higher degree of interdepartmental collaboration and makes it possible to expand your stakeholder set.