The market is saturated with various sales technologies. How do you decide where you should invest to drive your business forward? John Bruno, Senior Analyst at Forrester Research, explains why the new breed of Configure Price Quote (CPQ) solutions, powered by artificial intelligence, should be at the top of your list.
“In today’s B2B dynamic, it’s not uncommon to see a customer choose a vendor, supplier or manufacturer that’s quickest to turn around a quote,” says Bruno. “But you can’t sacrifice margin for speed,” he adds, explaining that businesses are turning to sales technology to help determine the right price.
“To embrace speed and adherence to margins and profitability, more and more organizations are starting to embed [technology] into the process.”
With an increased focus on the buyer experience, CPQ solutions have evolved over the last five years to become a critical front-line sales enablement tool.
“It’s gone from measuring things like reduction in your margin erosion to a world where you’re recommending the appropriate products and solutions to each customer every single time,” says Bruno.
Imagine your sales reps leveraging sales software that intelligently serves the appropriate price based on the scenario, type of product, market volatility and other factors. AI infused into the selling process enables more personalized experiences for buyers and provides salespeople with confidence that the price is accurate and appropriate.
“[Salespeople] can feel comfortable that the price they’re seeing is fair, competitive and a price that will win that customer,” says Bruno. “That gets rid of any roadblocks or obstacles in the way of them turning around that quote and still being first to delivering it to the customer,” he adds.
Watch the video and hear more from John Bruno, Senior Analyst at Forrester Research about CPQ and overcoming sales challenges.