![]() Some of the key metrics that are relevant for managing CPQ process include: Quote accuracy rate, quote turnaround time, standard-to-nonstandard deal ratio, quote conversion rate, and self-service quote ratio. Sales reps can also quickly analyze the effectiveness of each deal by determining potential cost, margins, profitability, and other key performance indicators (KPIs) to ensure that the deal is aligned with business objectives. The time required by sales reps to interact with other teams to gather information and seek approvals and responses can be reduced by clearly outlining rules for approval management and streamlining the processing of all requests. Organizations can define the steps to auto-validate and auto-book a segment of incoming legal quotes to orders, reducing the overall time within the sales cycle. Shortens sales cycle: A well-designed CPQ process integrates organizations with their channel partners in the sales cycle. Pricing is defined for each feature, and there’s flexibility to set discounts and margins at various levels, such as bundle, deal, and line item. This means organizations need to develop and offer their products and services in a modular fashion (standard and nonstandard bundled offerings). Supports diverse products with complex pricing: With FCMs, customers pay only for the products or features they use. With expanding customer channels and partners, and the increasing complexity of product structures and pricing strategies in consumption-based models, the CPQ approach needs to be transformed for efficient sales operations.ĬPQ offers a range of potential benefits for companies transitioning to flexible consumption models. This enables direct sales, channel partners, and customers to easily configure, price, and quote as-a-service solutions.ĬPQ processes in flexible consumption business models provide capabilities to support a diverse set of products portfolios, complex offerings with multiple features, and complex pricing structures. ![]() It’s essential to align the CPQ processes with the flexible consumption strategy. Now, we’re here to discuss one key aspect of the go-to-market capability, which is the CPQ processes of the lead-to-cash cycle. ![]() In our previous reports, we’ve talked about the capabilities and technology platforms needed to support a flexible consumption model (FCM) in the as-a-service economy. We can help write that story by setting goals.The right configure, price, and quote solution is key to transitioning to a flexible consumption model The new year stands before us, like a chapter in a book, waiting to be written. Take a piece of paper, a few hours of your time, and write it all down - as an affirmation of you, your life, and your ability to choose. What problems would you like to see solved? What decisions would you like to make? What would you like to happen in your career? What would you like to attain? Little things and big things? Where would you like to go? What would you like to have happen in friendship and love? What would you like to have happen in your family life? What would you like to have happen in your life this year? What would you like to do, to accomplish? What good would you like to attract into your life? What particular areas of growth would you like to have happen to you? What blocks, or character defects, would you like to have removed? They put a powerful force into play on a universal, conscious, and subconscious level. It is an affirmation that you're interested in fully living life in the year to come. Dig within, and discover what you would like to have happen in your life this year.
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