5 CPQ Challenges Companies Face

Solving your Configure, Price, Quote (CPQ) challenges can be easy to do once you’ve identified the problems with your current approach. Here is a list of the top five biggest CPQ challenges businesses face today to help identify areas which could be improved.

1. Your CPQ process is too slow
Too many reviews, too many revisions, and too much manual work slows down your process and allows an opportunity for your competitors to beat you to the punch. You need to be responsive when your customer is ready, not when you’re ready. Automation is the solution!

2. Your proposals miss customer requests and require revisions
Customers can be demanding! Relying on manual efforts and teams of people to create proposals can lead you to prioritising what is easiest for you, not what your customer wants.

Adding more manual reviews to solve for mistakes and oversights is equally problematic, resulting in slower responses with greater chances for human error. What’s worse is that manual processes can actually encourage sales teams to use old proposals as templates. The likelihood of including incorrect information and overlooking errors such as old customer names and logos is definitely higher when your reps start reusing these documents.

Automating proposal generation will solve these problems.

3. Your team leaves money on the table by missing complementary offers or upsells
You might only have one chance to get your proposal in front of a potential customer. If you miss the opportunity to be a full service provider or to show that you fully understand their current and future needs, you could miss out to a competitor.

If you forget a required item in your proposal, you’ll have to explain to your prospect that their costs will increase with the addition.

Automation will include all requirements the first time and suggest relevant add ons, making it easy for reps to offer your best solution.

4. Your process leads to too many errors in proposals
You don’t want to make pricing mistakes or look too expensive. We know that adding more manual reviews only causes slower responses and opportunity for human error. An automated solution will prevent mistakes and delays.

5. You are opening yourself up to too much risk
With a manual process you are risking putting out a proposal with out of date pricing, incorrect terms and conditions, mismatched items or forgotten requirements such as installation tools and training services. An automated process will solve for these risks and produce a reliable document every time.

Do any of these challenges sound familiar? Are you ready to start getting effective proposals out to prospects quickly? Xenogenix can work with you to automate your CPQ processes and solve all of these challenges. Want to hear more? Fill in the form below.