Accelerate Sales When You Configure Complex Products/Services Across Industries
The global economy continues to experience labor shortages and supply chain issues, and customers across all industries are demonstrating an increased need for self-service purchasing options. For organizations that specialize in providing complex products, current market conditions present the opportunity to capitalize on the utilization of CPQ software to accelerate sales cycles, maximize revenue, and improve overall customer satisfaction. There has been increased adoption of the subscription economy and manufacturers’ implementation of complex self-service product configurators. Many are showing an increased commitment to integrating CPQ functionality into existing CRM and ERP tech stacks.
Over the past year, the configure, price, and quote (CPQ) market has grown as more organizations demonstrate the benefits of implementing CPQ solutions like Conga with Salesforce to enhance sales team performance and enable e-commerce and self-service channels. In addition, organizations are seeking CPQ solutions to help navigate fluctuating market conditions.
Shift in Buying Behaviors and Expectations
Customer self-service demand is at an all-time high, stressing the importance of an organization’s ability to go above and beyond foundational e-commerce integrations and self-service portals to enable self-service buying experiences for highly customized or complex products. Organizations that supply or manufacture physical assets have cited enhancements to 3D visualizations and AR or VR technology as primary differentiators among the top CPQ vendors, as the correlation between the visualization capabilities a solution offers and increases in product sales becomes increasingly clear.
Customers of Configure Price Quote (CPQ) technology continue to prioritize usability over functionality, as organizations actively seek to reduce their IT burden and drive the adoption of new technology through administrative ease of use. In an economy that demands business agility, organizations are showing an increased desire for solutions that don’t require professional developers to maintain the system, implement new products, and manage product and pricing configurations. Customers across all industries are showing signs of decreased patience and brand loyalty, highlighting the importance of an organization’s ability to deliver efficient and personalized buying experiences. The shift in consumer behavior poses the greatest challenge for organizations that provide complex goods in both the B2B and B2C markets, as customers are quick to abandon their shopping processes if it becomes too difficult or if any questions or confusions surrounding product costs and features arise. In addition, increased competition and growing demand for specialized or custom products have significantly reduced the ability of organizations to only offer one-size-fits-all solutions. This trend can create bottlenecks in sales processes, as increased customization demand results in greater fluctuations in pricing.
The most notable benefits cited by CPQ users over the last year include more streamlined production and sales cycles, decreased material wastage, and attributable increases to revenue driven by improved conversion rates and increased deal size.
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Conga for Salesforce
A leader in the 2022 CPQ Technology Value Matrix
Conga is a leader in the 2022 CPQ Technology Value Matrix. Conga CPQ enables users in nearly all industries to accelerate sales by configuring complex products and services with an intuitive, no-code rules engine. Built on the Salesforce platform with native integrations, Conga also boasts integration capabilities with several other platforms including Microsoft, SAP, and Oracle. Conga provides customers with a single data platform model across multiple applications such as CPQ, CLM, digital commerce, and document generation to avoid out of sync data risks. A unified data model enables users to define complex product and pricing rules across its CPQ, partner quoting, and self-service e-commerce while avoiding the added stress of managing API connectivity across multiple channels.
Conga CPQ is able to support quotes with up to 10,000 lines in a single quote, with functionality that allows users to support bundled sales, recurring product sales, and usage-based sales. With Conga’s guided selling framework, users can generate quotes more accurately and efficiently by leveraging the solution’s recommendations for products, services, and bundles.