Keeping up with today’s fast-paced digital world calls for a fresh take on enterprise architecture. There must be an emphasis on automation and removing manual steps, but implementing/updating all systems at once or a “Big Bang” is a recipe for failure. So let’s talk about a phased approach. A key aspect of this process is determining the best order to implement various systems, like Customer Relationship Management (CRM), Configure, Price, Quote (CPQ), billing, and service management. In this blog, we’ll discuss why you should start implementing CRM and CPQ together, the drawbacks of not taking this approach, and how it relates to cost, time, and business risk.
CRM and CPQ: A Winning Combo:
Starting with CRM and CPQ together sets the stage for a powerful partnership between these two essential systems. Here’s what you can gain by combining them right from the get-go:
A smooth sales process: When CRM and CPQ work hand-in-hand, managing customer info and automating product configuration, pricing, and quoting becomes a breeze.
Happier customers: CRM collects customer data and preferences, while CPQ uses this info to create personalized offerings, leading to a top-notch customer experience.
Efficient sales team: Merging CRM and CPQ reduces manual errors, speeds up quote generation, and streamlines the sales cycle, making your sales team a well-oiled machine.
Linking CRM and CPQ with Billing and Service Management:
Once you’ve got CRM and CPQ working together, it’s time to connect them with billing and service management systems. A well-integrated setup gives you:
Automated billing: Linking billing with CRM and CPQ means accurate invoices and fewer errors, making life easier for everyone.
Swift service management: Integrating service management with CRM and CPQ allows for faster response times and better customer support, which helps keep your customers coming back.
The Downside of Not Starting with CRM and CPQ Together:
Skipping the step of implementing CRM and CPQ together can lead to some not-so-great outcomes, like:
Higher costs: If you implement CRM and CPQ separately, you might need extra integration efforts, resulting in more operational costs and possible revenue loss.
Longer timescales: Without CRM and CPQ integration, sales cycles may drag on, affecting your bottom line.
Increased business risk: Inaccurate customer data or quotes can damage your company’s reputation, causing unhappy customers and lost opportunities.
Stunted growth: A disjointed CRM and CPQ solution can hold your company back, making it tough to scale and adapt to changing market conditions.
Revamping enterprise architecture involves getting the right systems like CRM, CPQ, billing, and service management in place. Starting with CRM and CPQ together can unlock some serious benefits, like cost savings, improved efficiency, reduced business risk, and faster growth. This approach lays a solid foundation for the future, making it easier to integrate other essential systems and set your business up for success.
Please reach out to our team to discuss how we can help to automate your quote-to-cash process.