Decades ago, companies could afford to go to market based on intuition and without needing to collect copious data. That era is long over. To remain competitive in the modern marketplace, every company needs a disciplined, data-driven strategy to develop its product lineup and then methodically track and analyze how customers respond. Building these capabilities requires help from robust, cloud-based solutions; indeed, the results for companies that invest in this technology consistently speak for themselves. Businesses that implement the industry-leading Salesforce platform, for example, experience a 28 percent increase in forecasting accuracy after investing in the platform, according to a 2021 Salesforce customer survey.
Increasingly, finance teams are recognizing that platforms like Salesforce are critical to transforming the entire quote-to-cash lifecycle in their organizations. With Salesforce’s Revenue Cloud solution (inclusive of CPQ—configure, price, quote), finance teams can eliminate many of the common pain points businesses face on their journey to stabilizing and growing revenue. Ultimately, CPQ transforms how organizations manage their entire sales lifecycle and the customer experience. Let’s explore five key ways that CPQ technology has become instrumental in supporting finance teams as they work to strategically manage the quote-to-cash lifecycle and achieve revenue stability and growth:
CPQ enables companies to reshape the customer experience
Every customer wants a smooth, frictionless buying experience, from receiving an initial quote to getting all of their questions answered to being billed correctly. Unfortunately, most companies’ quote-to-cash processes are riddled with bottlenecks, error-prone manual steps, and inaccessible customer data sets. CPQ streamlines and automates the entire quote-to-cash lifecycle: Sales teams can use…
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