Monday Dec 07, 2015

Connecting Your Business with Oracle CPQ Cloud

Tim Lavers is a CPQ Strategic Account Director with the Oracle CPQ Cloud team. He has over ten years experience of selling into Tier 1 companies and discusses CPQ below:

Throughout my sales career I have been involved in solution selling. This has ultimately involved creating sales bill of materials (BoM) for the customer based on their requirements. This BoM would vary size and complexity depending on the solution required by the customer.  Nearly always the BoM would include a number of different elements, or parts, that combine to form an end product to match the customer’s needs. This becomes part of the “quote” for the customer.

In many organisations the system, or systems, used to produce these quotes are often disconnected with either the sales systems or back office delivery systems. Many companies put their trust in spreadsheets and home grown solutions for this critical activity in the sales process. This can result in a number of issues including incorrect quotes, misunderstanding, in-correct orders, re-work and ultimately, dissatisfaction on the part of the customer.

I was dealing with a large customer recently and they had this exact issue on a global scale. At the last count they had fourteen, yes fourteen, separate systems from lead-to-quote.  The customer had various tools, products and processes (involving complex financial deal calculations and validation) that were very time consuming. Their siloed systems resulted in decreased sales productivity and lacked strategic sales opportunities, which ultimately lost them business.

Oracle worked with the customer and a partner to implement Oracle CPQ Cloud (CPQ), a solution that allowed this customer to automate and accelerate the lead-to-quote process. The need to configure, price and quote is obviously not new but having it fully automated and integrated with other key systems is the key to enabling many businesses to generate more revenue, and to drive productivity and profitability.

The key to success at this organization was to give the sales agent a seamless integrated CPQ solution that meant they felt they were simply using their CRM solution rather than two solutions. By having a seamless integration of Oracle CPQ cloud with their CRM solution the started to see improvements in adoption, consistency and accuracy of their sales organisation. Ultimately this increased the credibility of the sales organisation as a whole and, obviously, helped them hit their targets.

With 50% of deals going to the first vendor to respond ( speed to quote is paramount.  Early CPQ adopters have seen 27% shorter sales cycles (Aberdeen Research) which lead to more quotes being delivered faster and more ultimately more revenue.

This customer saw the following benefits:

  • 2.5 week average quote time reduced to a just a few hours
  • 100% pipeline accuracy across the business
  • Cross and upsell capabilities to maximise revenue
  • Better deal accuracy with built in optimisation calculations leading to larger and more deals

Do you have similar problems

Feel free to look here: Oracle CPQ Cloud for solutions to optimise your sales cycle, Oracle CPQ is native to most major CRM solutions. 

Friday Apr 18, 2014

Customer Relationship Management Simplified – Why User Adoption is a Key Metric

"Out of all the CRM project problems reported, we found the most significant threat to be slow user adoption."

— Bill Band, Principal Analyst, Forrester

So you’ve purchased a state-of-the-art Customer Relationship Management (CRM) system for your Sales organization. Your goals: better forecasts, closing more deals, and ultimately increasing revenue. But are people using it?

Read on and learn about:

  • The three primary challenges that can get in your way
  • Oracle's take on addressing user adoption challenges
  • The benefits Oracle Sales Cloud customers are experiencing
[Read More]

Wednesday Oct 26, 2011

10/27 Webinar: Tips and Tricks to Enhance Siebel Usability

You are invited to participate in a series of Webinars delivered by Oracle CRM Applications Development, focused on “Maximizing the Business Value of Your Current Investment”. The first webinar will be on “Tips and Tricks to Improve Usability and End User Satisfaction”. Carey Wong, Sr. Director of CRM Product Management will share tips and tricks on how to reduce the clicks and time to enter and manage data in Siebel. At the end of the presentation, we will introduce the participants to some of the new and the less well known Siebel modules, functionality, and add-ons that have wound up being surprise value-adds to customers’ implementations when properly leveraged. After this introduction, we will invite participants to vote on topics for future webinars.

Carey Wong says, "Over my 13 years at Oracle and Siebel, I’ve come across many simple and under-publicized ways of effectively improving the usability of Siebel. After sharing these tips and tricks with customers, most have managed to reduce data entry time for their key business processes by over 50%, and some managed to reduce it by as much as 80%. Most of these usability improvements were gained with as little investment as one week of configuration and data administration effort.”

This valuable free webinar takes place on Thursday, October 27, 11 AM - 12 pm Pacific. Register now.


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