Every single business out there depends on a client to generate revenue, but depending on the business type, the services offered and customers will vary. In a lot of cases, these customers want personalized services, which means that the company has to generate a quote or price for them based on their needs. Since there are infinite possibilities as to what a client wants in their service, many companies opt for Configure, Price, Quote (CPQ) software. CPQ software like Configure One can help businesses increase their sales teams’ productivity and, consequently, their sales by providing precise sales quotes instantly.
These guided selling solutions allow businesses to generate quotes using their own pricing database, exclusive offers, and product information. CPQ software can also reduce the lead-to-quote time and the errors generated per proposal. They can also increase the number of approved proposals and the company’s workflow speed. When companies use CPQ software, customers can be certain that they’re being provided with accurate prices every time. Here are some of the business types that can benefit from CPQ software.
Manufacturing
Manufacturing is the process of making products with the use of tools, chemicals, machines, and human labor. The seller in this case is the manufacturer and the shopper would be other businesses or individuals. Manufacturing businesses make tools, cars, cosmetics, baked goods, and even glue. When making a purchase decision in manufacturing, shoppers have plenty of options to choose from.
For example, Zach Mottl‘s manufacturing company Atlas Tool Works provides services like precision metal sheets, welding, metal stamping, and laser and water cutting. At Atlas Tool Works, they would benefit from CPQ software because it would calculate the average order value, helping the company make projections regarding their inventory. In addition, it would increase the manufacturing workflow due to the instant availability of the information.
Services
Service companies offer their clients non-tangible products like professional support. These can include customer service call centers, event planners, personal trainers, and design services. In each of these services, CPQ software can help personalize a company’s products. For example, an event planner can use this software when a customer wants a quote for a small wedding event.
Customers can ask for a quote that includes venue rental, catering, music entertainment, flower arrangements, venue, and other details. By using CPQ software, the event planner can easily submit these attributes into the system and get a quote instantly. The customer can decide in the moment if they want to invest in that service, and depending on the outcome, the event planner can even make adjustments to the quote by applying special offers.
Retail
Another type of business that can benefit from CPQ software is a retailer. Retailers include department stores, supermarkets, convenience stores, and eCommerce shops. Although most of the prices for the services offered by these stores are pretty much set in stone, they can have customizable services they can offer the public. For example, an eCommerce shop that sells digital art can provide its online shoppers with personalization options. This could be anything from a portrait drawing or stickers with different color variations. Depending on what the business owner input into their CPQ software, their online shop can calculate any price for any variation combination.
As we can see, CPQ software benefits most business types and their sales as they help improve sales, price accuracy, profitability, and can maximize a shopper’s deals. It’s no doubt that if you want your business to generate revenue intelligently by generating precise sales quotes based on your organization’s structure and pricing, you should definitely invest in CPQ software like Configure One.
