How does CPQ support digitalization
in sales?

Most companies today use CPQ solutions primarily to achieve operational goals. This is confirmed by the GEXSO study conducted by UniTH/Bearing Point on the subject of product configuration, in addition to a look at practical applications. Operational goals include, for example, reducing errors in order processing, increasing quotation quality through standardization, reducing quotation time and costs and shortening order throughput times.

Strategic sales targets are therefore being pursued less: Most companies currently still lack strategies for this. Some opportunities remain untapped, particularly with regard to digitalization. A study conducted by the Ruhr University Bochum in collaboration with the Boston Consulting Group shows that companies that digitize their sales grow faster and are more profitable than their competitors.

This is precisely where CPQ solutions come in. They offer valuable strategic opportunities in sales and product management. CPQ solutions digitalize processes, data and coordination. In this way, constantly changing market requirements can be accommodated consistently. This offers significant advantages for companies with a particularly varied product portfolio.

Our TOP 3 digitalization strategies with CPQ

Strategic variant analysis of the product portfolio Regular analyses of your product variants provide information about the attractiveness of your product portfolio and the functioning of the underlying processes. This results in a number of potentials, such as increasing competitiveness, identifying trends and optimizing the customer journey. With a strategic variant analysis, a significant amount of potential can be drawn from your own product portfolio. Variants with strong and weak sales can be identified, compared and then optimized. Companies can, for example, derive the optimal market-promoting measures from this process.
Active involvement of the customer via a collaboration platform Another digitalization concept is the active involvement of potential customers in the sales process via an interactive collaboration platform. This reflects the entire development of a lead, including all documents, and above all enables interactive collaboration on documents and processes. Potential customers experience significantly greater transparency. In addition, the administrative workload in sales is significantly reduced. The sales employee has an optimal overview of current notifications, upcoming tasks, relevant leads and important documents at all times.
Guided selling combined with intelligent recommendations With a digital guided selling concept, sales teams are guided digitally through the sales process - from inquiry to contract conclusion. The main focus here is on needs-oriented customer care. There is a strong focus on this. Guided selling can also provide support with product-related recommendations - before, during and after the sales process. This strategy actively supports the sales employee in looking after customers and helps to produce error-free quotation documents. The added value of this strategy is the enormous amount of time saved by reducing administrative activities.

Impulses for the digitalization strategies

Check your sales orientation with the following impulses on our TOP 3 digitalization strategies.

Strategic variant analysis

Do you analyze the strengths and weaknesses of individual variants?
Do you draw conclusions about typical high and low runners in your country?
How intensively do you analyze your product portfolio? Which KPIs do you focus on?

Active customer involvement

To what extent are you currently involving your customers in the sales process?
Are your customers satisfied with the current approach?
How do you create transparency for processes, calculations and coordination?

Guided selling

How much time do your employees spend on active lead management?

How often are they held up by incorrect offers and proposals?

How much time do your employees spend on administrative work in sales?

Our conclusion

All of these digitalization strategies have one thing in common: they place the customer at the heart of sales. This focus gives companies major advantages over the competition. Companies with digitalized sales act one step ahead and can support customers with their individual problems and requirements. Increasing demands and wishes are optimally met by the increasing individualization of products and a tailored digitalization strategy. Would you like to find out more about the benefits of CPQ?

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