Improving the customer experience (CX) is important for any small-to-medium business. Utilizing tools to create a seamless, streamlined CX can transform an organization from one with mediocre processes to an unstoppable powerhouse. But what tech tools are vital? Though often mistakenly considered a one-layer solution, Configure, Price, and Quote (CPQ) software streamlines processes and creates seamless customer experiences with dimensions that impact finance, sales, service, marketing and commerce.
Think of CPQ like the middle child of a family. Just as this child is integral to connecting the oldest and youngest siblings together, CPQ does the same for a business. Wedged in between customer relationship management (CRM) and enterprise resource planning (ERP) tools, CPQ acts like the intermediary of any successful small-to-medium business (SMB). CPQ compliments CRM —or front office — and also acts as the vital link that gives currency to ERP, the downstream fulfillment. Without CPQ, the accuracy of orders and financials of your business are at risk.
A CPQ solution impacts a variety of departments, often meaning different things to different people. Knowing how to talk about the importance of CPQ depends on whom you're speaking with. A sales VP, for example, may be concerned about how it can help to enable their sales force. They'll want to know their sales reps will be better prepared to quote faster and more accurately, especially when on the go. Those details would be meaningless to a CFO, for example, who would care more about correct fulfillment, contract management, and margin control. Both ways of describing the importance are accurate; the difference is just in who's asking.
CPQ is integral to streamlining and creating a seamless customer experience, and Oracle's CX suite serves a variety of industries with broad functionality. Through CPQ, a SMB leverages Oracle CX products to master the following:
By Ambar Castillo, Senior Product Marketing Manager, Oracle CX