Business to business sales is high stakes and high pressure.
This is especially true when you’re marketing highly customizable products with potentially hundreds of possible configurations. In the past, your only option was lugging around reams of printed data sheets and attempting to cross-reference options on the fly to get a price.
Thankfully that kludgy method is going the way of the dodo bird and being replaced by optimized and rapid software.
Configure price quote software leverages AI and other automated processes to speed up your business sale process.
Read on to find out how it can do this and other major benefits it offers.
How to Configure Price Quote AI Works
Configure price quote AI works to speed up the overall sales process for your business. It helps simplify the quote process for your customers.
In the past ordering, a highly configurable product was complicated and clunky. You had to cross-reference different options with allowable specs until you found a combination that would work.
It was doable, but it slowed down the sales process and made it more likely customers would give up before the deal was completed. CPQ software combines effective database management with specialized price optimization and a fully functional configuration engine.
This allows you to adjust pricing to match what you know about a customer and give them exactly the right combination of features and products.
The Benefits of Automating Your Sales Process
Sales were one of those professions a lot of people thought would never change. You get leads, pursue them, make sales. Not much to disrupt right?
Wrong.
Combining big data analytics with advanced CPQ software lets you get laser focused leads. You can figure out exactly the price point likely to entice a prospect while maximizing your profit and speed up the whole process.
Faster Response Times
The time from bid request to quote used to be measured in hours or days. With effective configure price quote software the same process can take minutes.
As long as a potential customer has a realistic idea of what they need you can put together a competitive quote rapidly.
More Rapid Sales Process
Generating and researching leads is one of the key steps of the B2B sales process. With effective configure price quote software this step is carried out quickly and accurately.
It allows you to offer a nearly instantaneous response and move right into the teaching and qualification steps of completing a sale.
Eliminate Human Error From the Sales Process
Nothing is worse than losing out on a big sale because of a misunderstanding or misquoted price. AI takes humans out of the nuts and bolts of the process and lets them focus on the high-level stuff.
No more will a junior salesman submit the wrong pricing sheet or configuration guide and needlessly confuse a prospective customer. This lets your best salespeople
Improved Lead to Cash Lifecycle
With effective AI support, your salesmen can generate highly customized quotes rapidly. This lets them take the requests of a potential client and turn it into a professional and highly optimized quote.
They can focus on the value proposition and Q&A portion of the sales talk without having to spend time trying to find out what the customer actually needs. AI is great at cross-referencing different database using customer responses.
It cuts out an entire section of the sales process and speeds everything up tremendously.
Improve Collaboration
Smart CPQ allows you to bring all the SMEs and staff together with your salespeople. Instead of a hodge-podge of emails, texts, and calls, they can communicate quickly and efficiently.
You can assign priority levels to different questions and instantly get the responses needed to close a deal. It also lets you put all the needed information in one place.
This allows everyone who’s part of the sales process to be kept up to date with all developments. There’s nothing worse than people providing a prospective client with multiple confusing statements and updates.
Supercharge Your Sales Process Today
If you still rely on old systems when creating quotes you could be seriously slowing down sales. Fast, customized quotes are absolutely essential to staying competitive when marketing highly customizable products.