CPQ software – configure, price, quote – could be the missing weapon in a small business’s arsenal if they are looking to go to the next level.

A CPQ for small business is crucial when a growing enterprise is looking to be more efficient and successful. It creates a smooth and streamlined pathway throughout the whole sales journey, right from the initial interaction up to the closing of the deal.

The tool helps create automated and efficient solutions for previously manual tasks, saving the salesperson a lot of time and effort and allowing them to redirect that towards the potential customer and deal. CPQ software is most notable for its ability to create fast, accurate pricing quotations on complex products – this feature is perfect for sales as it leads to a more happy and more satisfied customer who in hand trusts the business. 

There is a possibility that many small businesses may mistakenly view CPQ as being too expensive, something that is only accessible for the large-scale enterprise. Whilst some CPQ solutions are not structured or priced for smaller businesses, fortunately, there are many options available that are cost-effective, simple to use, and offer a wide array of features. 

For small businesses, the biggest issue can be having a lack of resources, especially when their competitors can sometimes have a bigger wallet and therefore higher access to business tools. This can limit a business’s growth and hinder the sales team, an incredibly crucial arm of any business. 

We are seeing more businesses of varied sizes looking at CPQ solutions, especially if they have a smaller sales team or a reduced operational workforce. It can help in a multitude of ways and will often prove its value in the money it both saves and generates for a business.

This can help a business scale up and reach the higher levels they aspire to. 

Here are 7 ways that CPQ software can level up a small business: 

Creates a better customer experience

As a smaller business, it is crucial to ensure a customer has a fantastic journey when using your services or buying a product. CPQ can generate a fast and honest quotation, leading to a customer both appreciating their time being saved but also doing trade with a business that has integrity. 

Cheap to implement

Just like thinking CPQ might be too expensive for them, small businesses might think CPQ costs a lot to implement into their business. Thankfully, CPQ can be incredibly easy to implement and is very low-maintenance. Many are no-code pieces of software that are easily used and accessible.

CRM integration

Most CPQ solutions can now integrate with an existing CRM (customer relationship management) setup, allowing a small business to get the max value from their tech resources and reduce the manual tasks needed from their sales team. Integrating these tools in one place creates a smoother sales process but can also enhance CRM too, using the up-to-date sales data and analytics to its advantage. 

Enhancing sales and pricing

Using CPQ, sales workers can mitigate any potential human error during the sales process and get generated quotes for their customers. Generated pricing quotes are always correct, as sales workers simply input data from a potential deal and get a correct price back. There are also features to work around bundles, discounts, and the likes, adding to the sales functionality and success. It can create a personalized and tailored experience for the customer, something that is a must today. 

Improves productivity

Small businesses cannot afford to be lax if they aim to close the gap between competitors or larger-scaled businesses. CPQ software helps cut down time spent on admin tasks like manually generating quotations or dealing with contracts, renewals, and documentation. CPQ can automatically create a quote, seal approval and also generate documents so efficiency is at a high level and productivity follows suit.

Speed up the sales process

Being a small business does not give you a license to be slow when in the deal process with a customer. Regardless of size, a buyer expects a swift response to their inquiry, and fast action is needed to ensure a business doesn’t lose this lead. CPQ allows sales teams to configure complex products with ease, put orders in place, and get accurate pricing quotes without wasting time. This time saved can pay dividends in a vast amount of ways for a business. 

Simple to use for all

This is huge for a small business looking to start using CPQ. They can generate quotes incredibly quickly whilst still allowing sales reps to get up to speed using the software easily, especially when it has integration features to a CRM tool they use.