Would you like to improve the day-to-day work experience of your company’s sales team by selling your products with the right discounts and the right price to your end customers? This article explains how SAP CPQ can help you achieve this.
What is SAP CPQ?
CPQ is the abbreviation of Configure, Price, Quote. SAP CPQ is a powerful advanced configuration tool for customer experience. It enables sales teams to quickly generate accurate quotes for simple and complex products with different pricing models for various markets.
How SAP CPQ helps to accelerate proposal preparation
In complex business scenarios with different product attributes, for sales teams it usually takes a long time to come up with the final price and proposal. The reason is that sales teams mostly don’t have access to the backend ERP or S/4HANA system. SAP CPQ enables the sales team to generate accurate quotations and proposals for the customer in a very short time. It also helps to increase sales opportunities as well as to strengthen cross-selling and up-selling for greater sales profits. In this way, SAP CPQ is ideal for companies that deal with pricing for complex products.
How SAP CPQ works
SAP CPQ is a cloud-based software-as-a-service (SaaS) solution for sales configuration and part of the SAP Sales Cloud platform and the SAP C/4HANA suite.
The solution is designed to simplify and quicken the selling process by providing the sales representative with the opportunity to make proposals for different products with reliable cross-sell and up-sell. The CPQ solution also has a key role in supporting the end-to-end sales process.
It supports complex quotes up to a hundred thousand lines, customer-specific pricing, and a broad range of languages and currencies.
SAP CPQ can work as a standalone solution but is more often integrated with SAP CX solutions. It is a completely integrated out-of-the-box solution that integrates with Sales Cloud, DocuSign/Adobe Sign, E-commerce Cloud, commissions, SAP ERP ECC and S/4HANA.
What are the key capabilities of SAP CPQ?
Using the SaaS features, the sales team can easily access customer data, configure the products, manage quotes and pricing, and generate proposals while they are on travel or visiting customers.
User Experience (UX)
CPQ provides an intuitive user interface (UI) which supports a responsive UX/UI for mobile, tablet, and desktop.
Power/key users are empowered to manage the solution without much help from the IT department.
Using the customization, CPQ allows administrators to create configurable products with all their available options.
The Responder feature provides a summary view of your product configuration.
Robust Rules Engine
Using the rule-based configurations, CPQ allows users to create an accurate product configuration.
CPQ can manage complex pricing calculations and provide margin assistance. This shows accurate pricing within quotes and proposals.
Guided Selling, Cross-Sell, and Up-Sell
Guided Selling allows users to search for relevant products based on the attributes they are looking for. CPQ can suggest related products, accessories, services, or bundles to users.
Admins can generate a report with any specific filters, permission groups, and templates. These reports can be accessed by business users who are in the same permission groups that are assigned to the report. For more complex reporting requirements, Business Intelligence and Analytics systems can always be leveraged.
This feature allows admins to create document templates with layout, branding, style, fonts, and images of their company. The sales reps can generate a document from the quote to send to the customer or download.
Routing quotes for approval can avoid mistakes and wrong discounts to customers while ensuring appropriate checks are in place.
Do you want implement SAP CPQ or integrate with customer experience (CX) to improve your company’s sales process? If so, we look forward to interesting discussions and an exchange of ideas with you. Please feel free to contact our Camelot C/4HANA team, if you have any further questions. In a virtual meeting, we love to discuss your specific requirements.