Microsoft Dynamics 365 for Sales is a powerful solution that collects and analyzes customer data and reveals it in context to help your sales reps build and maintain relationships with your customers. Moreover, it brings sales analytics together in dashboards for easy reference, which you can leverage for further sales training and coaching.
In addition to the standard functionality, you can further extend the capabilities of this outstanding CRM solution and sell at warp speed by adding CPQ.
What is CPQ?
CPQ stands for Configure Price Quote – integrated software that makes it easy to provide pricing for even the most complex products and scenarios; once configured, it quickly generates accurate, consistent quotes and proposals for your prospective clients.
Setup is easy, defining your pricing models, discounts, product dependencies, approval workflows, and other details. The software takes it from there, ensuring the document is received and electronically signed by the client.
Configuration: At this stage, the software confirms the availability of products and services, ensures the order meets buyer specifications and establishes a timeline for prompt delivery according to the terms of the agreement.
Price: This step gives sales reps the power to offer options to a customer, allowing them to select offerings from the company product catalog that meet the buyer’s needs and budget, along with discounts to sweeten the deal.
Quote: Wrapping up the cycle, the software ensures the quote generated is in harmony with your brand, complies with all legal requirements, and comes with the collateral documentation needed to finalize the deal.
Why do Microsoft Dynamics 365 Users Need CPQ?
With the latest product configuration and pricing always available in the system, CPQ empowers your sales team to generate quotes in just minutes, rather than hours. It further enhances Microsoft Dynamics 365 for Sales, ensuring your sales reps can create customized, accurate, and legally compliant quotes for your customers and prospects. You gain further insight as CPQ tracks customer engagement and interest.
Companies that have moderately complex pricing structures especially see a strong return on investment with CPQ. Calculating an accurate final cost for the customer is further complicated as you offer options or variations for them to choose from. This sort of complexity is often seen in the Financial, Services, and Manufacturing industries.
Close Deals Faster with CPQ for Microsoft Dynamics 365 for Sales
Research by Aberdeen Group shows that “best-in-class sales teams are 2.2 times as effective at minimizing the number of people, functions, systems required to generate a quote or proposal.”
The sales team benefits from a CPQ solution deeply integrated with Microsoft Dynamics 365 for Sales, allowing them to effortlessly generate accurate quotes right from the CRM screen, with templates and pricing updated in real-time. Since the global market is ever more competitive, CPQ has become an indispensable technology for fast response to buyer requests by eliminating many of the tedious aspects of the process.
Putting your Customer at the Center of Your Price Quote Process
Microsoft’s mission for Dynamics 365 for Sales is to put the customer at the center of the sales process. CPQ aligns well with that objective, giving your sales team the agility needed for fast response to client inquiries, delivering the right pricing, the right messaging, and the right content to guide the buyer to purchase.
Having a Sales Playbook within the CPQ solution makes it easy to follow a defined sales workflow. This keeps deals moving forward and maintains the focus on the buyer’s needs. Configurations can be saved for each customer to guarantee a consistent experience. A master template can also be configured, simplifying the process of choosing between multiple SKUs by presenting it in a question-and-answer format. This makes the whole process simple and easy for buyers to understand.
Benefits of CPQ for Microsoft Dynamics 365 CRM
Aside from the benefits we’ve covered (enhanced customer experience, fast quote turnaround, and a shorter sales cycle), there are many other benefits to using CPQ, such as:
- A Streamlined Sales Process
- Simpler sizing, configuration & pricing
- Automated renewals
- Ensured adherence to pricing & legal policies
- Greater internal collaboration
- Standardized proposals
Related article: The 7 Essential CPQ Features for Microsoft Dynamics Users
DealHub CPQ Provides Actionable Insights to Improve Buyer Relationships
Now that you better understand CPQ software and how it can help your sales team drive more revenue, we encourage you to consider a CPQ solution that leverages your customer data to assist your sales reps to form stronger relationships with clients and prospects. DealHub CPQ is part of our Sales Engagement Platform that enhances your visibility into buyer engagement through real-time notifications of your client’s interest via an activity stream displayed in a browser, revealing buyer intent and stakeholder interest. This data assists your reps in forming closer relationships with your clients, helping you see what works so you can do more of it.
DealHub CPQ goes hand-in-glove with Microsoft Dynamics 365 for Sales, not only providing tightly-integrated functionality to the screens already in daily use by your sales team, but also supporting Microsoft’s customer-centric focus. Microsoft Dynamics CRM users are right at home with our intuitive platform which empowers them to deliver exceptional buyer experiences. Every price quote is sent out via a DealRoom – a virtual space that provides buyers with all the content and collateral they need to make a decision, including videos, case studies, sales decks, and more.
With DealHub CPQ, you’ll provide greater value to your customers and stand out from your competitors.
Request a demo to learn more about how DealHub CPQ extends the value of Microsoft Dynamics 365 for Sales.
By DealHub, www.dealhub.io
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