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Complex Sales CPQ for Banking
Complex Sales CPQ for Banking
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FAQs online signature
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What is the CPQ sales process?
CPQ centralizes and automates customer data, product pricing and discounting, contract renewals, and business rules; it makes product data available in real time so sales reps have everything at their fingertips to respond quickly to customer needs.
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What is the CPQ approach?
A CPQ (configure, price, quote) strategy is a comprehensive approach companies with complex product configurations, variable pricing, and bespoke customer requirements take to streamline and optimize the sales process.
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What is the difference between CRM and CPQ?
Configure, Price, Quote (CPQ) is a smart sales tool to generate quotes for orders of products/services quickly and precisely. Customer relationship management (CRM) is a sales software to ease business communication and boost sales efficiency.
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What are the key challenges while selecting a CPQ platform vendor?
With these requirements in mind, here are ten red flags you should look out for when selecting a CPQ vendor: It isn't SaaS ( cloud) ... It lacks integrations. ... It lacks scalability. ... It doesn't do dynamic pricing. ... It can't manage multiple sales channels. ... It doesn't do embedding (no self-serve) ... It doesn't do guided selling.
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What does CPQ stand for?
CPQ stands for Configure, Price, Quote. The abbreviation describes a process chain in sales: product configuration, price calculation and quote generation.
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Why is CPQ needed?
CPQ (Configure, Price, Quote) is a sales tool for companies to quickly and accurately generate quotes for orders. CPQ applications often work in tandem with CRM platforms, ERP programs, and other business technology, which helps ensure integrated data as well as accuracy.
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What is CPQ in banking?
Oracle Configure, Price, and Quote (CPQ) solutions help financial service firms automate much of the opportunity-to-quote-to-order process, including product guidance, order configuration, pricing alignment, quoting, deal negotiation, and approval workflows.
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What is CPQ in sales?
CPQ Salesforce, or Configure, Price, Quote Software by Salesforce is a sales tool for companies to provide accurate pricing with any given product configuration scenario.
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[Music] now let's talk about increased business efficiency with guided selling so let's try to understand what guided selling is um a lot of times even the customers are not aware or confident about what exactly they're looking to buy but uh your job as a business owner is to make them understand uh what they might be interested in ing to the requirements that they have so all what you want is them uh all what you want from them are some inputs and based on those inputs uh there there is a way how you recommend them uh certain products but that's something that you personally do can all of your sales people do that probably not but do you still want your customers to get the same experience of sales uh what they had while they were working with you of course yes why not that is exactly something that we'll be able to provide with the help of guided selling you just get some inputs from your uh I mean from your customers or from your prospects have them as inputs and ingly navigate what all products can uh can serve the need that they have or can solve the problem that they're looking for and uh once it's once this guided selling is set up you don't have to worry about a wrong product getting sold uh to a customer of yours because that cannot happen because that this guided selling can be set up in such a way that not uh I mean it'll just recommend the right products ing to the needs right products and right Services ing to the needs and requirements along with what all can also be sold as a cross sell or upsell on top of it so that's something that uh can be done with the help of guided selling am I correct V yes absolutely am I missing on to something would you like to add something on top of it so no that's basically you know what you are covering like what you said is basically covering everything that's there in guided selling and I would like just to highlight couple of things which I would be which they are in the next slide itself only like you know it also reduces the you know onboarding time for your sales representatives like they don't need to you know know about those kind of questions and everything they are they don't need a lot of training they do not need extensive training onto what is your business what does your business do what all products and services do you have it just eliminates all of that effort yeah you just do the guided selling in the right way you are just asking some question and answers and the customer is getting the right you know recommendations based on that definitely it actually you know makes a lot of sense for the businesses
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