Automate Complex Configurations with CPQ Systems
In B2B environments complex sales processes rarely have linear journeys. There is an important factor which influences both the quoting stage and the decision-making process and that is time.
The Power of a CPQ System
Product configuration is an activity of customising complex products to meet all customer's requirements. Complex sales cycles can take a long time to quote or it may require additional resources to be able to configure and price correctly. Meantime, the customer becomes impatient waiting for an accurate price.
With time being a crucial influencer in the sales process, how can companies overcome this boundary to achieve higher profitability?
Artificial Intelligence (AI)
Utilising Artificial Intelligence to make the sales process easier
is the science which has increasingly become popular in recent years. AI is now used to increase productivity in many industry sectors like Information and Communication, Manufacturing and Financial Services.
Configure, Price, Quote (CPQ) software is a system created using Artificial Intelligence techniques that allows companies to automate highly configurable products quickly. This technology accelerates the sales cycle and increases business effectiveness.
PreSalesAdvisor - The CPQ Platform
PreSalesAdvisor (PSAT) is a configuration platform that helps organisations manage complex product databases, identifies great upselling opportunities and creates a streamlined experience in the configure, price, quote process. Some of the key advantages in investing in PreSalesAdvisor is the time efficiency, cost savings and increased business profitability.
PreSalesAdvisor systems are designed by domain experts with years of experience. The aim of each PreSalesAdvisor system is to provide complete customer confidence in each and every configuration set. That's why companies such as IBM and Lenovo have invested in the PSAT platform, delivering astonishing results in over 150 countries across 27 different languages and currencies.
Traditional Sales Cycles
Usually sales departments are looking for the easiest path to provide customer quotes with the minimum of effort and maximum profit. Also, sales representatives tend to be more inclined in selling products and services they have better knowledge and understanding in. PSAT configurators flip this on its head, empowering users to quote solutions as product specialists. PSAT helps sales departments increase their confidence in selling complex products.
Pre-Sales can also be an expensive resource, providing educated and experienced overviews of specific products or services. In this stage, sales people usually offer prospects extra content and information to help win the sale. In this instance, PreSalesAdvisor acts like a digital guided advisor, reducing the cost of sale and decreasing the time of researching for relevant information, ultimately enabling sales to focus on larger opportunities.
Likewise, the generation of enhanced quotes with supporting information and evidence can be used to help the customer make more informed decisions. Organisations looking to advance their technologies can use PSAT as a research tool for making business cases for future investment.
Reduce the Sales Cycle Stress
Sales cycles follow the same pattern, starting with a prospect and ending with a sale and in an ideal scenario - a referral. Mastering each of the steps is crucial for businesses, especially with a surge of online shopping. A report by Ofcom International, states that "Eight out of Ten UK and Europe customers use e-commerce for their purchases which can be via internet or even through mobile phones."
Although the current technologies used in digital shopping have removed barriers such as middleman, there is a lot more that can be achieved to create a truly optimised customer journey. It is imperative for smart businesses to undergo digital transformation such as the Internet of Things (IoT) and through digital platforms using Artificial Intelligence.
In today's world, everything is about personalisation. To understand customer's preferences and anticipate future needs, one must create an "omni channel" with a new set of rules to redefine long waits for quotes and untapped sales opportunities.
That's why we created PreSalesAdvisor, technology that empowers customers to configure their products and services in real-time with instant quoting - Removing the stress of traditional product sales.
PreSalesAdvisor (PSAT) Main Benefits
PSAT is a sales tool working in the best interest of all, sales and their individual customers.
See PreSalesAdvisor in Action
Request a free demo, and let us show you how PreSalesAdvisor can transform the delivery of your products and services.