With multiple key factors at play, B2B buying is known to be unpredictable, complex, and multilayered. With so many processes occurring and waiting to occur, speed and accuracy in the quoting process are a necessity for survival. CPQ (Configure Price Quote) system users have also often in the past reported a lack of configuration capabilities and limited product recommendations to be major roadblocks in their quote-to-cash journey.
There are several other roadblocks that can prevent B2B buyers in the Managed Service Providers (MSPs) and Technology Service Provider (TSPs) worlds from experiencing top-notch customer experience in 2023:
- Lack of transparency: MSPs and TSPs may not provide sufficient transparency about their services, pricing, and processes. This can lead to confusion, misunderstandings, and a lack of trust on the part of the buyer.
- Complex pricing structures: MSPs and TSPs may use complex pricing structures, such as multi-year contracts or hidden fees, that can make it difficult for buyers to understand the true cost of the services. This can lead to frustration and a sense of being misled.
- Inflexible service offerings: MSPs and TSPs may offer limited or inflexible service options, which may not meet the specific needs of the buyer. This can result in the buyer having to compromise on their requirements or seek services elsewhere.
- Poor communication: Effective communication is key to providing a top-notch customer experience, but MSPs and TSPs may struggle to communicate clearly and promptly with their buyers. This can lead to delays in issue resolution and a sense of being ignored.
- Inadequate support: MSPs and TSPs may not provide adequate support to their buyers, either in terms of responsiveness or expertise. This can lead to frustration and delays in issue resolution.
Modern CPQ tools present today offer the following in order to overcome these roadblocks:
- Enhanced transparency: CPQ tools can provide greater transparency by allowing buyers to see exactly what services they are purchasing and how much they will cost. This can help to build trust and confidence in the service provider.
- Simplified pricing: CPQ tools can simplify pricing by offering clear and straightforward pricing structures. This can help buyers to understand the true cost of the services, reducing confusion and frustration.
- Flexible service offerings: CPQ tools can offer flexible service options, allowing buyers to customize their services to meet their specific needs. This can help to ensure that the buyer is getting exactly what they need, increasing satisfaction and loyalty.
- Improved communication: CPQ tools can facilitate clear and effective communication between buyers and service providers. For example, buyers can use CPQ tools to request changes to their services and receive real-time updates on pricing and availability. This can help to reduce misunderstandings and delays in issue resolution.
- Better customer support: CPQ tools can improve customer support by streamlining the process of submitting and resolving issues. This can help to reduce frustration and improve overall satisfaction.
Overall, CPQ tools can help MSPs and TSPs to address the roadblocks preventing top-notch customer experience by providing greater transparency, simplifying pricing, offering flexible service options, improving communication, and providing better customer support. This can lead to increased satisfaction, loyalty, and trust among buyers, ultimately driving business growth and success.
B2B buyers in the Managed Service Providers and Technology Service Provider worlds no longer have to wait for days to get a quote for their required goods and services. Most organizations today are taking tangible steps on their digital transformation journeys and are beginning to digitize their sales enablement and Revenue Lifecycle Management. With constant change sparked by increasing inflation, new innovations, and new business requirements, it is more imperative than ever to have an advanced solution for your sales enablement, like servicePath CPQ+.
Configure Price and Quote (CPQ) solutions enable you to quote in minutes and allow you to adjust to all these new variables to make sure you’re guaranteeing your profitability and margins.
Evolution of CPQ: Widening Industry Adoption and the Advantages for Sales Teams
While in the past, CPQ tools were primarily focused on industries like Manufacturing. Today however, the CPQ market has evolved tremendously. servicePath CPQ+ is trusted and used by several market leaders from industries including general Business Services, Technology Service Providers, Managed Service Providers, Advanced Manufacturing, and Financial Services organizations, and healthcare technology. Industry leaders like Dell, FieldTurf, Telent, Park Place Technology and many more rate servicePath’s special features like Advanced Pricing Engine and Deal Dashboards highly. servicePath CPQ+ with its advanced configuration, pricing, and quoting capabilities boosts your sales reps’ productivity and helps them win deals lightning fast.
With CPQ, your sales teams can now do everything they used spreadsheets for, and more; much faster and with strong control and governance. When using a CPQ integrated with a CRM, sales teams are seen to quote complete orders, while they provide their customers with excellent service and support, and offer personalized product recommendations through Guided Selling. Order renewals and regrades are also executed in a controlled fashion – where no human is required to go through rows and rows of old records. This results in improved, shortened sales cycles, increased efficiency in performance, and an overall improved customer experience.
Buying and selling is no longer a waiting game.
5 reasons why industry leaders place all their trust in servicePath CPQ+
Faster and more Accurate Quoting
With servicePath CPQ+, B2B sellers can generate accurate quotes in real-time, based on the customer’s specific needs and preferences. This can eliminate manual calculations, reduce errors, and provide a faster turnaround time, ultimately leading to increased sales and customer satisfaction. Advanced CPQ tools help speed up the decision-making process significantly.
Your customers will be happier and your sales teams too. Armed with the servicePath Revenue Lifecycle Management solution, sales teams now have the ability to spend more time selling and less time quoting; which allows them to hit their targets and quotas. The only thing better than a quote that’s sent out faster is an accurate quote that’s sent out faster.
As Forbes puts it, “We live in an era of instant gratification. If your customers can’t get speed from you, they’ll simply go to someone else. This is true of ordering an e-commerce product, or even scheduling a consultation to get an estimate for how much a service will cost. While price is still an important differentiator for many, quite often, customers are going to choose whoever can serve them the quickest — even if they aren’t the cheapest option.”
Personalization and Flexibility
It is much easier for B2B sellers today to offer more personalized solutions to their customers by allowing them to configure their own products and services, with tools like servicePath CPQ+. This can help to build stronger customer relationships and increase loyalty, while also providing the flexibility needed to meet the unique needs of each customer.
Increased Efficiency and Collaboration
With servicePath CPQ+, B2B sellers can streamline their sales process and improve collaboration between sales teams, product managers, and customers. This can help to ensure that everyone is on the same page and that customer needs are met, while also freeing up valuable time and resources for other important business tasks.
Complex Configurations and Seamless Integrations
servicePath CPQ+’s complex configurations are one of its key differentiators. servicePath CPQ+ integrates seamlessly with most-used CRM systems like Salesforce CRM and Microsoft Dynamics CRM; allowing users to work with complex configurations without having to switch interfaces. servicePath CPQ+ when combined with CRM systems helps you have a stupendous user experience by enabling you to personalize orders and create complex quotes, easily and with good governance.
Brand Reinforcement
When creating quotes and proposals, brand consistency is critical. Traditionally, salespeople had to resort to copying and pasting in order to ensure the quotes all “looked and felt” the same. All this manual work took up a lot of resources and their valuable time. This approach also did not guarantee accuracy. A good Configure Price Quote solution is one where all the documents are generated with the exact look and feel defined by the user – no more multiple versions of your logos and fonts! In servicePath CPQ+, your brand is always represented with the exact look and feel. This ensures you attract trust, loyalty, and dependability.
Better revenue, better profits, and happier customers with servicePath CPQ+
servicePath CPQ+ is a highly advanced and effective low-code/no-code sales enablement (which is part of Revenue Lifecycle Management) platform, that enables your sales teams to independently send out accurate quotes, faster. Selling with advanced intelligence where your sales teams can make relevant recommendations to your customers using Recommendation Engines helps the customer have an incredible experience and will translate to even bigger and increased opportunities for your business.
With unparalleled features and user benefits, CPQ helps you sell better, and improves customer satisfaction and customer loyalty for your organization.
servicePath CPQ+ has helped many highly reputable Technology Service Providers and Managed Service Providers improve their operations tremendously. Read the success stories from Dell, Daisy, and Telent here.
Happy selling!
