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  • CPQ
    August 23, 2016

CPQ: Three Letters to Free Up Sales Time

In the business world—especially in sales—time is everything. There never seems to be enough time in a day, causing many leaders to adopt irregular sleeping habits in an effort to make the most of the hours they have. Renaissance artist Leonardo da Vinci utilized a polyphasic sleep process, only sleeping for brief periods between 20 minutes and two hours, making it possible for him to micromanage his energy and work and boosting his productivity. But if you’re like most of us, the thought of setting an alarm for 20 minutes in the middle of the night doesn’t paint a pleasant picture—even if Leonardo painted it himself. 

Fast forward to today, when sales reps are under increasing pressure, quotas are stretching, responsibilities are multiplying, margins are getting smaller, and it feels as if time itself is shrinking. These increasing pressures not only make the lives of salespeople difficult, they also increase the chance they won’t finish their work or hit their targets. 

The good news is that there’s a solution available, and it doesn’t include putting your sales teams on a new sleeping schedule. It’s a configure, price, and quote (CPQ) solution. A well-implemented CPQ system gives users something invaluable: more time. 

Organizations that don’t have a CPQ solution in place find their sales processes can be inefficient and outdated. These processes are especially difficult to navigate for new reps. When new people join a sales team, they’re bombarded with myriad new tasks (for example, HR requests, new technologies, new sales processes, and products to learn.) There is never enough time for sales reps to efficiently learn product numbers, pricing, and discounts for every customer they have in their portfolios. A well-implemented CPQ solution makes much of this much simpler for new salespeople to learn. They don’t have to waste time looking through various Excel spreadsheets and product manuals in order to find the correct product, accessories, and prices for a customer. By utilizing a CPQ solution’s guided selling process and rules engine, it becomes nearly impossible to quote and configure an incorrect product, which saves time going through multiple check-and-approval processes, cutting involvement from multiple departments, and clearing the way for downstream processes such as enterprise resource planning. A CPQ solution will give your newest salesperson the tools and guidance to make a quick and positive impact on quotas, saving time and drastically reducing cost. 

“We accelerated onboarding and training of new sales reps with Oracle CPQ Cloud. In addition, Oracle CPQ Cloud helps in configuring orders as new products are introduced. It helps our sales reps develop 100% accurate quotes for our customers.” — Jill Cameron, Senior Director of Sales Operations for Brocade

 A well-implemented CPQ solution not only saves time for new hires but seasoned reps, too, as sales processes change and new products are made available. Time is saved throughout the sales cycle, allowing you to respond to prospective clients sooner than your competitors—and, according to Inside Sales, “50% of deals go to vendors that respond first.”

Time: There’s never enough of it, so make it count with a CPQ solution such as Oracle Configure, Price, and Quote Cloud. Learn more about Oracle CPQ and see our solution in action. 

Learn more about how to construct a smarter sales team.

 

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Comments ( 1 )
  • Richard Benchimol Wednesday, March 8, 2017
    Thank you for the tips Ambar. I will look into setting up the right system to help my company.
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