How can B2B companies boost sales and reduce costs?

CPQ Cloud Software Solutions

CPQ is a web-based cloud software solution that provides salespeople with a dynamic platform to perform basic product configuration, pricing, and quoting activities that traditionally required manual execution.

Configuration:

The core of CPQ is a sophisticated and customizable configurator for complex B2B sellers who need to complete an additional and essential task during the quoting and ordering process: product configuration. A great configurator allows salespeople to quickly customize complex products by selecting from available attributes. From there, they can configure and price the product and add it to a quote or order. Pricing is dynamically filled by pre-configured business rules and can be easily updated.

Configured items should be replicable, savable, and accessible for future use. The built-in kit-bunding feature in the configurator allows businesses to define combinations of configured items and package them into a single unit to be sold as a set or kit.

Manufacturing Automation:

CPQ, designed to meet the needs of manufacturers with material lists and process routes, provides a single integrated cloud system that replaces the disconnected single-point products typically used by manufacturers today. When CPQ can create advanced Bill of Materials (BOMs) and process routes, manufacturers of all sizes can reduce operational costs and manage their production and assembly processes more efficiently, saving time and money previously spent on double and triple checking and reworking orders.

Proposal Generation:

Customizing branded proposals that optimize the product configuration and quoting creation process is only part of what B2B sales teams need. Sales representatives must be able to easily obtain and provide customer-specific quotes in professional branded proposals to continually win deals.

These proposals should draw accurate product and pricing information in real-time from quotes within the CPQ system. This way, representatives can provide customers with branded, error-free proposals immediately. When your company is the first to quote, you maximize your chances of winning the bid. Proposal generation applications that provide dynamic document creation and management capabilities are a crucial part of the CPQ solution for fully realizing sales potential.

By connecting your proposal generation system to the cloud, you can support sales representatives from anywhere and allow them to search the estimate database by keyword, name, author, or date to reference past transactions or replicate similar new quote proposals.

3D Visualization:

Bringing products to life - Nearly 70% of surveyed online shoppers say that images are as important as price when making a purchase decision.

Browser-based 3D visualization toolkits combined with CPQ configurators allow sales representatives to instantly generate interactive product visualizations. This enables salespeople and online buyers to view dynamic 3D renderings of the customized products they are buying or selling. This enriches and informs the buying and selling experience, thereby increasing customer lifetime value.

E-commerce Integration:

Extending CPQ to online stores by integrating CPQ with e-commerce and your other back-office systems such as CRM, finance, inventory, and order management, businesses can create truly engaging shopping experiences that drive sales and customer loyalty.

From fully customized unique projects to adding personalization to standard products, CPQ makes your product detail pages more interactive and appealing. Providing your shoppers with CPQ configuration, guided selling, and 3D visualization helps them find the exact product they need, thereby increasing conversion rates and average order value.

Guided Selling:

For B2B sellers who offer configurable, customizable products, they often also provide non-configurable inventory items such as replacement parts and additional products. Typically, these B2B companies have a vast catalog of parts that salespeople need to be able to quickly and easily find and add to customer quotes and orders.

Guided selling provides a familiar e-commerce product catalog filtering experience, allowing users to drill down into product attributes to quickly find the exact part they are looking for.

NetSuite CPQ Comprehensive and Efficient

When a comprehensive CPQ solution is implemented as part of a single platform with ERP and CRM, sales teams become more efficient, close rates increase, more quotes are created, and sales representatives more frequently meet their quotas. "NetSuite CPQ has allowed us to standardize the creation of complex part numbers, thereby increasing the efficiency of our entire quoting, ordering, and production cycle."

NetSuite CPQ enables sales teams to quickly configure, price, and quote complex products in NetSuite with complete accuracy and reliability. The ability to create 3D product visualizations and automatically generate sales proposals helps further enhance and accelerate the sales process. By utilizing NetSuite's pricing, inventory, and profitability data, along with configuration, pricing, and quoting software that works seamlessly with connected workflows to NetSuite ERP, CRM, and e-commerce solutions, companies can automate the transition from sales to delivery, generating Bills of Materials (BOMs), routes, and work orders.

B2B companies selling complex products can increase sales and reduce costs with a comprehensive CPQ solution.

Hitpoint Cloud is headquartered in Shanghai, with branches in Shenzhen, Beijing, and Nanjing. The Hitpoint Cloud team has been focusing on Oracle NetSuite products since 2009 and is a multi-year star partner of Oracle NetSuite, providing cloud computing solutions for various modules including finance, distribution, project management, and e-commerce. With extensive experience in the implementation, localization, secondary development, and training of Oracle NetSuite, the team supports customer operations with a staff of over a hundred, committed to enabling every customer in the cloud era to unleash potential and achieve greater success, helping businesses "win" the future with intelligence