Configure Price Quote (CPQ) software has become increasingly popular in recent years, especially in the B2B sector. CPQ software provides a streamlined process for creating accurate quotes, managing pricing, and automating the sales process. One of the key benefits of CPQ software is its ability to reduce onboarding and training costs while increasing sales profitability.
Onboarding new sales reps can be a costly and time-consuming process. According to a study by Sales Readiness Group, it takes an average of 10 weeks to onboard a new sales rep, with an average cost of $32,000 per rep. These costs include recruiting, hiring, training, and lost productivity during the onboarding period.
CPQ software can significantly reduce onboarding and training costs by providing a user-friendly interface that makes it easy for new sales reps to create accurate quotes. CPQ software eliminates the need for extensive training on complex pricing models and product configurations. Instead, sales reps can simply input customer requirements into the CPQ system and receive a quote within minutes.
For example, IBM reduced its onboarding time for new sales reps by 75% by implementing CPQ software. IBM’s sales reps were able to quickly create accurate quotes using the software, which reduced the need for extensive training on complex pricing models.
CPQ software can also increase sales profitability by streamlining the sales process and improving pricing accuracy. According to a study by Aberdeen Group, companies that use CPQ software see a 105% increase in their average deal size and a 28% increase in their win rates.
By automating the quote generation process, CPQ software ensures that sales reps are always quoting the correct prices for each product and configuration. This reduces the risk of underpricing or overpricing products, which can significantly impact profitability. CPQ software also allows sales reps to quickly create quotes for complex products and configurations, which can result in higher sales volumes.
For example, Salesforce.com increased its sales productivity by 32% by implementing CPQ software. The software allowed Salesforce’s sales reps to quickly create accurate quotes, which resulted in higher win rates and increased deal sizes.
Ease of Use Is Key for Any Skill Set
Clearly, technology can provide sales leaders with much needed optimization of their teams starting at the point from when they join. However, the key to a successful technology is often overlooked: how easy it is to use.
Salespeople are an essential component of any business. Their ability to connect with customers and convince them to buy products or services is vital to the success of a company. As technology continues to advance, sales software has become an essential tool for salespeople. However, regardless of age or experience, salespeople want an easy-to-use and fast interface when using sales software.
According to a survey by Salesforce, 75% of salespeople say that ease of use is the most important feature when using sales software. This makes sense because salespeople are busy and need software that is intuitive and easy to navigate. They do not have the time or patience to deal with complex software that requires a lot of training.
Another survey by HubSpot found that 46% of salespeople say that the biggest challenge when using sales software is the time it takes to input data. This is a significant issue because time is money in the sales world. Salespeople want to spend their time selling, not inputting data into a clunky software interface. They need a fast and efficient way to input data so that they can focus on what they do best.
Older salespeople, in particular, can struggle with new technology. However, this does not mean they do not want an easy-to-use interface. According to a study by Pew Research Center, 77% of adults aged 50 to 64 own a smartphone, and 42% own a tablet. This shows that older adults are increasingly tech-savvy and comfortable using technology. However, they may not be as familiar with the latest trends and may struggle with more complex software interfaces.
The same is true for inexperienced salespeople. According to a study by the National Sales Center, 70% of new salespeople leave their job within the first year. This high turnover rate is due in part to the difficulty of learning new sales software. Inexperienced salespeople need software that is easy to learn and use so that they can focus on building their sales skills.
In addition to ease of use, salespeople also want sales software to be fast. According to a survey by InsideSales, 65% of salespeople say that speed is the most important feature when using sales software. This is because salespeople need to be able to access customer information quickly and efficiently. They do not want to waste time waiting for a slow software program to load.
Salespeople also want software that is customizable to their specific needs. According to a survey by Capterra, 74% of salespeople say that customization is important when using sales software. This is because salespeople have unique sales processes, and they need software that can be tailored to their specific needs. Customization allows salespeople to work more efficiently and effectively.
Finally, salespeople want software that integrates seamlessly with other tools they use. According to a survey by Salesforce, 73% of salespeople say that integration with other tools is important when using sales software. This is because salespeople use a variety of tools to manage their sales processes, such as email, calendars, and CRM software. Integration allows salespeople to access all the information they need in one place, saving them time and increasing their efficiency.
Regardless of age or experience, salespeople want an easy-to-use and fast interface when using sales software. They need software that is intuitive and easy to navigate, so they can focus on selling instead of struggling with complex software. Salespeople also want software that is fast, customizable, and integrates seamlessly with other tools they use. By providing salespeople with the software they need to succeed and want to use, companies can effectively optimize their sales teams and dramatically improve both their top and bottom line numbers.