11 Feb How HLS orgs leverage CPQ to improve the bottom line
by Paul Stevenson, MPA, CPA
In the ultra-competitive health and life sciences environment, organizations are searching for ways to decrease costs and increase revenue. One meaningful way to improve an organization’s bottom line is improving the effectiveness of your Salesforce automation or Salesforce Sales Cloud by using a configure-price-quote (CPQ) tool. The quotes produced with CPQ software are generated from preprogrammed rules, ensuring error-free pricing that takes into account quantities, discounts, customizations, and optional features of products.
What is Salesforce CPQ?
Salesforce CPQ is a quote-to-cash tool that provides accurate pricing with any given product configuration scenario. It provides your sales team with easy-to-use software, available on any device due to Salesforce’s cloud-based platform.
At the 2017 Dreamforce Conference, Pascal Yammine, Senior Vice President and General Manager of Salesforce, said “With Salesforce CPQ, you can configure products, manage your pricing, discounting, and approvals efficiently and without errors…Because it is all built on the Salesforce platform, you can extend that exact same quoting experience to your channel partners, with partner communities…Quote-to-cash on Salesforce eliminates the disconnection between your front office and your back office that allows you to get the right revenue and sales optimization.”
Why should HLS organizations consider CPQ?
Healthcare is a quickly evolving industry that is disrupting old purchasing dynamics across all segments. Innovative organizations across all healthcare segments are using Salesforce CPQ because of the trends that are impacting the market. Here are four major trends that health and life sciences organizations should consider when they get ready for CPQ:
- Pressure to Reduce the Cost of Care: Between the Affordable Care Act, declining insurance reimbursements, and the commodification of healthcare, healthcare providers are driving providers and suppliers to reduce costs.
- Consumerization of Healthcare: Patients have more healthcare options, and they are paying a larger portion of healthcare costs. This leads them to…
Want to keep reading? Download the ebook, The Complete Guide to CPQ for HLS, today!
Paul is a Principal CRM Strategist here at Simplus. An expert with deep CRM experience in healthcare, telecom, distribution, and financial segments, Paul is a consultant who drives CRM innovations to clear a path for growth in revenue and operational efficiency. He has hands-on experience in developing, marketing and selling CRM Apps and is a proven project leader with skills to lead CRM integrations with payer, provider, telecom, and proprietary operational and financial information systems.