Hear from Leaders in the CPQ space [Webinar Takeaways]

“Most companies that are creating opportunities, the reason they're creating opportunities is to convert them to quotes, to convert them to orders, to generate income. And so the logical next step, if you're doing opportunity management, I assume you're hoping to convert that to a quote so you can sell something to somebody, right? At that broadest level, that's who's adopting CPQ.”

- Brion Schweers, SVP Revenue Cloud, Salesforce when asked about CPQ adoption across industries. 

In our recent CPQ Fireside Chat, experts from Salesforce, Uptima, NVIDIA, and Valorx shared their insights on how to get the most from CPQ software - from phase zero planning to successful adoption strategies.

They also discussed how innovative solutions like Valorx Fusion can address these hurdles and make integration simpler and processes seamless.

To hear the entire discussion, access the session recording here.

CPQ Fireside Chat: Session Recap

What are the most significant CPQ challenges?

• Complexity and scalability - handling intricate products, pricing, and sales processes can be overwhelming. Rapid growth often makes it difficult to scale CPQ systems efficiently.
• Driving CPQ adoption: How can we streamline the CPQ process to enhance user adoption, ensuring sellers can quickly and efficiently generate quotes, manage complex data, and stay ahead of competitors without being hindered by system constraints?

When these challenges persist, they have long-term impacts on businesses.

• Companies may lose their competitive edge and experience slower time to market.
• Missed revenue opportunities and poor customer experiences can weaken relationships.
• A lack of insight into the customer lifecycle and buying behavior is a significant drawback.
• Inefficiencies in processes and operations are prevalent, and the inability to effectively analyze and optimize performance remains a challenge.

What Are the Benefits of CPQ Systems?

• Streamlining and centralization: Streamlining and centralizing quoting, pricing, and configurations can significantly enhance operational efficiency.
• Full revenue cycle support: Selling physical goods, services, software, and other products independently or bundled together is simplified. Businesses are able to go to market with more creative solutions for their customers while maintaining efficiency and data clarity. Uptima’s Chief Strategy Officer Alex Bell explains, “Customers are getting more creative in taking products to market with bundled subscriptions, services, and physical goods. CPQ is expanding to support the full revenue cycle in CRM. Customers want efficiency gains, revenue growth, and data reliability.”
• Data quality: Improved data quality leads to better reporting and forecasting.
• Integrations and scalabiliy: Salesforce CPQ can be enhanced to meet the specific needs of individual businesses by integrating with other tools. This allows CPQ users to further refine their quoting processes, streamline workflows, and ensure seamless operations. Users can create a CPQ experience that is perfectly aligned with the requirements of the business.

Our panelists ended the discussion by exploring how AI now plays a crucial role in optimizing pricing and sales processes, making CPQ systems more efficient and effective.

If you’re considering, deploying, or already using CPQ, don’t miss out on the insights shared from industry experts. Access the session recording now.