Vendavo’s New Cloud Solution Brings Advanced Price Optimization Intelligence into Automated Configuration Price Quotation (CPQ) Workflow
In response to growing product complexity, increasing market volatility and ever-stressed margins, Vendavo, a leading provider of commercial excellence solutions, announced the launch of Vendavo Intelligent CPQ Packaged Solution (VICPQ) to ensure sales provides the right offer, to the right customer, at the right price, at the right time.
VICPQ, a cloud solution, automates the delivery of pricing intelligence directly into the Configure, Price, Quote (CPQ) workflow for greater revenue, maximum margin and improved customer experience with every quote.
“While traditional CPQ solutions can generate faster quotes, they pull from static price lists that fail to incorporate optimized pricing. In today’s high-expectation digital economy, every quote must work harder and with pricing accurately aligned to a customers’ willingness to pay to increase win rates and improve enterprise profitability. Pricing is now an essential ingredient to increasing an organization’s velocity to profit,” said Sean Myers, Senior Vice President, CPQ, Vendavo
In addition to price optimization algorithms, VICPQ also automatically delivers detailed account information into CPQ workflows including what the customer bought, how much they paid and other historical information. Business intelligence alerts have also been baked in to predict potential customer churn risk.
“Optimized price, historical account detail, and churn prediction may be known by an organization but chances are that information exists in separate silos and isn’t easy for a salesperson to access. Now, sales teams have all of this information at their fingertips, in a CPQ workflow, to shorten the sales quotation cycle from weeks to hours,” said Myers.
According to Gartner, “by 2018, 40% of B2B digital commerce sites will use price optimization algorithms and configure, price and quote tools to dynamically calculate and deliver product pricing.”1 Additionally, “By 2022, more B2B quotes and orders will be created in a CPQ or in e-commerce applications than in ERP.”2 “In today’s digital economy, B2B buyers increasingly compare their buying experience to their last best B2C buying experience and modern businesses must respond,” said Bruno Slosse, President and CEO, Vendavo.
VICPQ is an out of the box integration between Vendavo CPQ Cloud and Vendavo Pricing Guidance Packaged Solution which includes Vendavo Price Optimization Manager, Vendavo Segmentation Manager, Vendavo Business Risk Alerts and Vendavo Profit Analyzer.