Most businesses have their own unique methods for handling their configure-price-quote steps. However, they face similar challenges along the way, including:
- Inconsistency: The sales force may follow one set of procedures, while the call center uses a different process, and the website uses a completely different set of rules. This inconsistency can add confusion and frustration to customers who may get one quote from a sales person and a completely different quote online.
- Lack of prioritization: Quotes are not prioritized properly according to the specific customer’s requirements. Instead, they may be handled based on the initiating department’s own priorities. In other words, the loudest salesperson may get priority, while the most important customer waits and loses patience.
- Insufficient product information: Inadequate product information is presented, and may not be updated with the most current information. This can lead to lost or missed sales.
- Complicating pricing and quoting processes: The configure-price-quote experience may have too many steps involved, which can reduce customer satisfaction levels.
- Lack of visibility: There is no enterprise-level visibility on the configure-price-quote process. Therefore, there are no metrics to determine which sales channel is working the best–and which sales channel needs more improvements.
A solution is needed that executes, automates and tracks configure-price-quote process consistently across all channels. This would enhance customer service while also providing key performance metrics by channel. That solution is the IBM® CPQ solution.
The IBM CPQ Solution
The IBM CPQ (Configure, Price, Quote) solution guides prospects, customers, partners, and internal users through the process of finding and configuring complex products and services in a user-friendly, Web-based self-service environment.
At the same time, it provides your company a seamless means to create, negotiate and approve quotes and quickly turn them into orders through your website, call center, store and field sales.
In addition, it helps your sales organization manage leads, customer profiles and contracts, quickly establish and enforce complex pricing strategies, and deliver accurate and professional quotes.
It provides a best-in-class approach to this very important aspect of the sales process while allowing enough flexibility to configure the software to your specific business needs.
View the IBM CPQ solution overview video below.
Configure, Price, Quote Capabilities
With the help of the highly skilled implementation team from Lightwell, your company will benefit from numerous capabilities, including the following:
- A product configurator that provides all of your sales channels a consistent means to build a product configuration with up-to-date product specifications and pricing. Whether your sales channel is your customer-facing website, your call center, your sales team, or a strategic partner or reseller, you can present a single view of your product offerings to all channels, and have filtering criteria and security built around the product configurator.
- A price management module that enables you to centralize the creation, change, and communication of product pricing data. This module is highly customizable based on your business rules and gives maximum flexibility to business users by providing a multitude of price levels by product and by customer. Also, price changes can be transmitted and sent easily, giving real time updated information to all channels when needed.
- A catalog that allows you to deliver product information across the demand chain and manage all aspects of selling product parts.
- A quote management workflow component that enables you to automate the quote approval process—from creation to negotiation. It enables your sales representatives, customer service representatives and partners to create and negotiate quotes while automating the approval process and providing visibility into the entire workflow.
- Advanced integration capabilities, enabling the solution to co-exist and augment your ERP system.
- Business intelligence that enhances decision-making throughout the process with embedded analytics.
IBM CPQ Benefits
With IBM Sterling Configure, Price, Quote, you’ll achieve numerous benefits including:
- Reduced costs and increased revenue by optimizing channel selling
- Improved efficiency and reduced order errors by streamlining the selling process
- Increased aftermarket business and revenue through more efficient management of product and service operations
- Improved customer satisfaction and capture of market share resulting from the ease of doing business with you
The IBM CPQ system is an industry-leading solution to make your sales process easier and more consistent across your entire company. With an enterprise-level view of the entire process and clear visibility into workflow and productivity, you can make better decisions while making sure your customers are completely satisfied.
Your IBM CPQ Solution Partner
Leverage Lightwell as your integration and configuration partner to receive the added benefit of real-world business experience coupled with superior technical and project management skills. Learn more about our services for omnichannel commerce solutions.
With a partner like Lightwell, you can be assured that your implementation will bring added benefit to your business. Contact us today to learn more.