Experience the Benefits of Complex Sales CPQ for Retail Trade

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[Music] hi my name is al or Gilliam the CRO at the Ohio I'm responsible / the sales and marketing activities at the company well cpq is configure price quote as its States basically what we're talking about here is helping organizations sales organizations to configure products that they have these could be very simple products or very complex products but you have some sort of configuration that's needed in order to go and generate a quote you then need to go and price that solution so you may have different pricing models that you have different kinds of discounting that you offer and you need to be able to do that kind of pricing and then finally the quoting aspect is to go and generate the document that you want for that specific proposal to send out to your customer how does that document look is it a one-page simplified pricing summary or is it a very detailed document and that will generally fall into the quoting aspect well the key attributes and functionality that you want to make sure your cpq includes is first and foremost the ability to go and configure the right solutions that you need to sell to your customer you may have certain product dependencies or other attributes that need to go with certain products you have to make sure that your cpq can go and address that then from the pricing point of you have to make sure that you're able to model the pricing for your specific products they may be priced in different ways under different circumstances you may have different discount policies that you allow of course you also need an approval process in there if you're allowing your salespeople to go make discounts so all that has to be included as well within that pricing aspect of the CPQ and then finally the ability to go and generate the document that you need to send to your customer whether that's a one-page pricing summary or whether you need a very detailed overview along with the pricing to your customer you have to make sure that you have that document generation capability built into your cpq there really is a lot of confusion out there both CP Q's and what is the right solution for you CP q really if you look at how the vendors describe their solutions cover anything from very simple solutions that allow sales people to put in a product they have a price to it right a discount total it and that's basically their CP q and then you've got the other extreme of CP Q which is the very verticalized solutions maybe for manufacturing or automotive which are specialized in those areas integrate with ERP systems with your shipping and inventories and all those different aspects I think that's the very complex area what's important though when you're looking for a c PQ solution is what are what is the functionality that you need today what is the functionality that you're going to need in the next 9 12 18 months then when you're assessing those cpq solutions look at what capabilities they have are they going to offer you the capabilities that you need as you grow as your team grows as your capabilities and needs expand is that the right c PQ solution for you I think there are a number of reasons why organizations need to implement CP QN I think you can sort of break it down into three different groups you could look at it from the organization point of view from a Sales Operations point of view and from the individual sales person's point of view so if you look from the organizational aspect things like standardization are we representing the company in the same manner from both our pricing and in our messaging that's getting out to the customer you want to make sure that we have a standardized look that we're presenting our organization to our customers from a sales operations point of you there's a number of different areas first of all as organizations grow you have new sales hires organizations have sales people that was a lot of different churn you have to ramp up those sales people how do you effectively do that how do you get the right sales people ramped up with the right information from a training point of view as well how you keep them up to date on what's happening how do you make sure your pricing and your configurations are accurate in those quotes that they're generating that's very important for the organization and from the individual sales person's point of view it's how do you reduce the amount of time that they're spending on non sales activities how do you get them to respond faster their customers with the right pricing the right messaging the right marketing documentation that you want to get today so from both all those aspects basically both the organization those sales operations and individual salespeople I think there's really really relevant important reasons why you'll want to implement cpq I hope you found this video informative if you did I'd love to hear your thoughts and any questions that you may have long cpq if you'd like to learn more about 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