What is CPQ software?
CPQ software automates the process of product configuration, price calculation and quotation generation. Customers can configure products where prices are calculated instantly and a quotation is generated at the touch of a button.
Although CPQ is often associated with complex product lines and for large companies, it is also a powerful tool for companies with smaller teams or a less elaborate product.
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Benefits of CPQ for small and medium enterprises:
- Saving time
For small teams, time is a precious factor. Salespeople often have to multitask and do not have the luxury of spending hours making an offer. CPQ software automates these tasks, giving them more time for other crucial tasks.
- Fewer errors
Manual processes carry a higher risk of errors, such as incorrect pricing or incomplete quotations. With CPQ, errors are prevented as the system automatically configures. This not only creates a more professional impression, but also boosts customer confidence.
- Professional appearance
Customers today expect speed and precision. A quotation that is delivered quickly and looks sleek gives your company a professional appearance, regardless of the size of your organisation.
- Scalability
CPQ grows with your business. What is a solution for a small product range today can be extended to more complex configurations or new markets. So you don’t have to keep investing in new systems as your business grows.
Isn’t CPQ too expensive for smaller companies?
A common misconception is that CPQ software would be unaffordable for smaller companies. CPQ often pays for itself quickly because there are fewer errors in quotations, which means fewer corrections and therefore lower costs. Moreover, quotes are produced faster, which can lead to faster deals.
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Conclusion
CPQ software is not only suitable for large companies, it offers huge added value precisely for small and medium-sized businesses. By automating processes, minimising errors and working faster, CPQ helps to operate more efficiently and gain competitive advantage.