5 Ways to Shorten Your Sales Cycle Using NetSuite CPQ
Your sales reps can significantly increase the number of leads they contact and sales they close in a given year. They just need the right automation software to make their sales processes more efficient.
It’s hard for a company to succeed if it hasn’t equipped its staff for success. For example, sales personnel may have trouble offering accurate quotes if they don’t have the necessary information and tools to calculate costs. That inability leads to incorrect estimates, never-ending sales cycles, and wasted time and money.
We understand how important efficiency is to your bottom line. SuiteDynamics experts can outfit your company with a NetSuite CPQ solution that automates the quoting process for both customers and sales reps, increasing accuracy and shortening the sales cycle. Consequently, your staff will have more time to spend on potential leads. The software also works with your NetSuite Enterprise Resource Planning (ERP) system to increase the quantity and quality of your staff’s sales interactions.
Below, we explore five ways NetSuite CPQ software can shorten your sales cycle and increase customer satisfaction. Read through the guide, schedule a free consultation with SuiteDynamics experts, and discover how this system will revolutionize your sales processes.
What is a CPQ system?
“CPQ” stands for “Configure, Price, Quote.” It’s a software solution that helps businesses automate and streamline the process of generating quotes and proposals for complex, customizable products and services.
You can break a CPQ system down into three main functions:
- Configure: Allows users to configure products or services according to customer specifications. This involves selecting various features, options, and components to meet specific requirements.
- Price: Calculates the cost of the configured product or service, considering factors such as materials, labor, overhead, and any discounts or promotions.
- Quote: Generates a professional, accurate quote or proposal based on the configured product and calculated price. This document is then presented to the customer.
CPQ systems can help businesses improve accuracy, reduce errors, and speed up the sales process, especially when dealing with high product variability.
The NetSuite CPQ is a user-friendly, reliable solution that helps your company quickly and accurately price goods and services so you can close deals quicker and increase productivity. Schedule a free consultation with our team to discover how the software can boost sales.
5 Ways NetSuite CPQ Can Shorten Your Sales Cycle
Most sales reps are looking for ways to trim their sales cycles, also known as the time it takes for a lead to progress from prospect to customer. Shorter sales cycles allow reps to contact more leads in a given period, reducing the chances that a sale can go awry before purchase. NetSuite CPQ offers several features that make the sales process more efficient, effective, and quick.
1. Automation
NetSuite CPQ uses NetSuite inventory, pricing, and profitability data and workflows to automatically generate quotes, bills of materials, routings, and work orders. These features decrease the need for manual entry and increase efficiency and accuracy in your CPQ process so customers get the correct numbers promptly. This capability keeps them happy and increases your chances of making a sale.
2. Customizable Business Logic
NetSuite CPQ’s customizable business logic also increases the system’s accuracy. The software’s configurator ensures sales personnel and customers choose commercially viable features and options so they only generate quotes for deliverable products. This feature decreases configuration mistakes, meaning you’ll no longer have to double- and triple-check numbers and rework orders.
3. Quick Quote, Proposal, and Order Creation
NetSuite CPQ includes several innovative features that help reps create better sales documents quickly. Users can:
a. Generate quotes or proposals with a single click instead of a manual, time-consuming process.
b. Utilize the system’s Live Quotes feature to deliver interactive emails, which end customers can use to place orders.
c. Build proposals from templates that sales staff can quickly adjust for various customers.
4. Guided Selling
A sales cycle goes faster when your customers know what they need. NetSuite CPQ’s Guided Selling feature asks a series of customizable questions that help end customers find the goods and services they want with little hassle. It can even make recommendations if necessary.
5. 3D Visualization
The better customers understand your product and how it can help them, the faster they can make purchasing decisions. NetSuite CPQ’s 3D Visualization feature produces a browser-based, three-dimensional rendering of your offerings. You can even show customized and configured versions of your products so customers can see exactly what your company will produce for them.
Schedule your free consultation with the SuiteDynamics team to experience NetSuite CPQ for yourself and discover just how short your sales cycle can become.
Equip Your Reps to Surpass Expectations
A sales team can succeed without adequate software, but it isn’t easy. Reps must work around manual entry tasks, quote and order inaccuracies, and insufficient product visualization. All of these problems eat up time.
Instead, give your sales staff the tools to calculate quick, accurate quotes, proposals, and work orders that satisfy customers and close deals faster. Schedule a free consultation with SuiteDynamics and explore how NetSuite CPQ can help your company exceed your highest sales goals.
We pull information from NetSuite material, SuiteDynamics experts, and other reliable sources to compose our blog posts and educational pieces. We ensure they are as accurate as possible at the time of writing. However, software evolves quickly, and although we work to maintain these posts, some details may fall out of date. Contact SuiteDynamics experts for the latest information on NetSuite ERP systems.
Part of this text was generated using GPT-3, OpenAI’s large-scale language-generation model. After generating the draft language, our team edited, revised, and fact-checked it to ensure readability and accuracy. SuiteDynamics is ultimately responsible for the content of this blog post.
