10 Things To Consider When Selecting CPQ Software

If you are planning to use data management software like CPQ in your organization, then you need to take into consideration several aspects. Adopting any major software can prove to be an arduous and complex process. However, with some tips from the industry experts, it can be become quite easy and effortless.

10 Tips To Achieve Successful CPQ Software Launch

1. Identify key pain points planned to solve:

Organizations these days prefer implementing CPQ solution. The solution derived should help generate and manage quotes. At times, it can be a margin safeguard initiative. Generate extensive list comprising of the most pressing and largest concerns to be resolved at the earliest.

2. Create CPQ Evaluation Team:

Each role has its own value something that successful teams tend to recognize. Using this cloud-based platform, the right fit should be identified. For this input will be desired from different departments. The team should rather be a mixture of managers and front-line users including internal/external sales representatives, customer service managers and reps, etc.

3. Wide commitment to derive a solution:

You need to address issues that might develop at any point of time. For this will be essential wide commitment and implementing lead-to-cash process. This is possible by developing quantified, qualified pain points, cross-functional team along with corresponding cost analysis. Do consider appointing an internal champion someone with the ability to facilitate and generate cross-departmental collaboration.

4. Document time essential to complete particular tasks:

Collect and follow each top performer. They should be those who can manage your CPQ. Do take notes as well as compare averages of the time taken to generate, update a quote, spreadsheets, develop proposal packages, etc. With Enterprise resource planning, your documentation process will go smoothly.

5. Devote less time in feature comparisons:

You can easily come across advanced data management software loaded with interesting features. A few might dazzle or wow you. However the fact is you may rarely require them or use the provided features. Hence, the CPQ solution that you plan to choose should offer those features that you exactly require.

6. Identify a reliable CPQ vendor:

The vendor you plan to select for your business should be committed towards helping you to achieve success. But then, you need to be careful with your selection process. Ensure only the best is selected that matches perfectly with your specific business requirements.

7. Choose a CPQ that assures delivering meaningful business intelligence:

You may have adopted the CPQ lead-to-cash process for about a year now. Perhaps, your business is witnessing happier management and faster sales process. However, are you able to visualize the results? Are subtle changes identified in quote activity to impact future orders? Hence, select a solution with useful native tools.

8. User-Centric Design for better user adoption:

There are times, when organizations tend to seek optimum benefits for their upper management level. However, they fail to consider their front-line users. Using cloud-based platform, it is possible to promote user adoption. It is essential for the platform to be valuable and intuitive for everyone concerned.

9. Be prepared to face contingencies:

You may have outlined your specific must-haves, needs, pricing rules, data structure and workflows. But you might face things that you might not have taken into consideration. Find out ways to mitigate such contingencies as much as possible.

10. Avoid emphasizing on too much perfection:

There are times, when considering CPQ solutions, organizations tend to get confused with software feature complexity and other aspects. You will require reliable Enterprise resource planning to plan out a phased approach when implementation is concerned.

Therefore to ensure successful CPQ software launch, you need to take adequate steps.