As the Global Vice President of the Lead-To-Revenue Practice at Brillio, a podcast host and an author, Protik is passionate about developing accelerated revenue and sales transformation for B2B enterprises and is helping B2B business leaders overcome their Lead-to-Revenue challenges and ensure their organizations are future-ready.
23rd May, 2022
In any B2B business, right pricing is critical to close a deal, particularly when you are trying to stay ahead of your competition and make a winning bid. As the pandemic still continues to rage on, organizations are looking to improve the B2B sales experience for the sales team as well as customers. Customers today expect faster time to purchase, self-service and simplified buying experience.
So, it makes sense to invest in Sales Transformation solutions like a Configure-Price-Quote (CPQ) software that can help you automate and streamline your pricing strategy, instead of letting your sales team struggle with pricing numbers on spreadsheets. CPQ software is designed to support companies who have a large number of products and services, multiple pricing models with multi-level approval processes. It provides a single source of truth for pricing information and makes it easier to introduce new products or pricing scenarios based on changes in your company’s strategy.
However, it is also true that a number of CPQ implementations deliver subpar results or fail completely at worst. The success of CPQ implementation depends on how well it addresses the day to day challenge of your sales reps. As a sales or technology leader looking to implement CPQ software for your organization, you need to be aware of common pitfalls and adopt best practices for implementation.
Here are a few tips to help you make the best of your CPQ implementation.