What is CPQ Billing?
First of all, what is CPQ? CPQ, or Configure, Price, Quote application, is utilized by the sales team to quickly and accurately generate quotes for incoming orders. Likewise, CPQ solutions often work in tandem with Customer Relationship Management (CRM) and Enterprise Resource Planning (ERP) platforms. As a result, an ideal CPQ solution streamlines the entire contracting process, allowing sales reps to:
- Create multiple quotes quickly and efficiently
- Track prospect and customer information within your CRM
- Tailor contracts and sales quotes to individual customers
- Make better-informed decisions around special pricing, discounts, and terms
- Eliminate user error by drawing from reliable data sources to auto-populate fields
Too often, the sales process is halted by a sales person’s inability to deliver accurate quotes. Most organizations don’t want to speed up the process if it means giving incorrect prices or unapproved discounts. Similarly, companies don’t want to promise customers configurations that are unavailable. Hence, the review process becomes a bottleneck for closing sales. CPQ increases sales staff efficiency, leaving for more time to focus on customers. Additionally, CPQ billing takes human error out of the equation. Because, it delivers accurate, dependable quotes every time.
You’re human, and humans make mistakes. Your business, on the other hand, is not human. As a result, your customers might be willing to forgive a minor error on your part. But, they won’t be so quick to overlook pricing errors made by your organization. A survey conducted by Ovum found that 82% of consumers stop doing business with a brand after only one bad customer experience.
How Can CPQ Billing Benefit Your Business?
First, pricing data and logic flow from the CRM platform to CPQ billing. Then, the price quoted to a customer automatically becomes the price that’s applied to an order and billed to a customer. So, with CPQ billing, there’s no need to transfer data manually. Additionally, users don’t need to build a custom integration that ultimately impedes the frictionless transfer of data among systems. Therefore, let’s explore the key benefits of using Accounting Seed’s CPQ billing connection:
1. Bills can be generated reliably and without errors
2. Subscription and usage-based products become simpler to define and easier to bill
3. You can offer flexible billing arrangements to every customer
4. Your business intelligence will become even more accurate and insightful
5. You’ll strengthen your relationships with customers
Salesforce and Accounting Seed CPQ Billing Software.
A 2017 study found that 47% of businesses admit to being late in paying their suppliers. Additionally, only 5% of companies acknowledge that they always pay their suppliers on time. Jump ahead of your competition and upgrade to a solution that features CPQ billing, like Accounting Seed.
With Accounting Seed, users can generate bills reliably and without errors. They can streamline and simplify subscription and usage-based billing processes. Also, they can offer flexible, personalized billing arrangements to every customer. Additionally, you can use Salesforce CPQ with Accounting Seed’s billing to improve the accuracy and insightfulness of your business intelligence, and ultimately help build stronger, lasting relationships with your customers.
Schedule a free demo today to explore how Accounting Seed helps you manage finances your way.