What is Agile CPQ?
Configure Price Quote, or Agile CPQ, describes sales representatives’ steps to prepare client proposals. Sales teams may more easily generate estimates that are precisely suited to the requirements and specifications of their clients by using CPQ technology, which streamlines the sales process. Because it makes the process of quoting for customizable products easier, CPQ is significant.
Heavy programming and administrative resources are needed to maintain the fragmented nature of legacy CPQs. They somewhat reduce the workload associated with the sales process, but any modifications, guardrails, or upgrades call for new code, which may take weeks or months to update.
On the other hand, low-code solutions make agile CPQ systems quick to build and simple to maintain. Agile CPQ is an automated, self-sufficient solution that does not require third-party administrators, IT, or operations personnel. Agile CPQ keeps up with the pace of business with real-time updates and adjustments and drives revenue development with its always-current pricing, goods, and subscription management.
Agile CPQ versus Legacy CPQ
<p><p>Businesses want unified, automated, and agile CPQ solutions as they expand. Even major sales firms frequently generate their quotes using generic, non-specialized programs like Google Docs and Microsoft Excel, distributed via email or regular mail for approval and signatures.
These techniques are laborious and antiquated. They are prone to errors and need manual data input and updates, which are costly in time and money.
Businesses use a range of CPQ solutions to improve the efficiency of their sales processes. There isn’t much relief from these Legacy CPQs, primarily because you have to choose between low-code, non-customizable, and unscalable solutions and heavily-coded, customized ones.
Implementing heavy-code solutions takes a long time—between six and nine months. They are also challenging to maintain and manage, and because it takes weeks to update them when prices or products change, they are frequently out of date.
Other approaches are constrained by their design; while they are more straightforward, they lack customization. They aren’t adaptable enough to expand with the business because they are a one-size-fits-all solution, so as firms outgrow them, they are forced to look elsewhere for a workable way to advance their sales process.
A low-code, totally automated solution is what an Agile CPQ offers in a winning combination. It is simple to administer and may be implemented quickly—weeks as opposed to months—with real-time updates and modifications. It is a self-sufficient solution that gives sales representatives autonomy in the sales process and doesn’t require any administrative or IT resources because of these combined characteristics.
The following table contrasts the capabilities of Legacy and Agile CPQ:
- AbilityAgile CPQ Legacy CPQ CodeLow-level programming code
- ExecutionQuick (in weeks)Slow (in months)
- Supervisory, real-time and intuitive, dependable, and laborious
- The ability to scale is incredibly adaptable (up or down). Lack of adaptability.
- MechanizationComplete mechanization portion of automation
- Rate of AdoptionElevated Low PerformanceQuick and easy-to-use procedureProtracted and rocky procedure
An agile CPQ offers openness, urgency, and cooperation in deal management. It removes the need for numerous apps by offering a single quote-to-cash solution. It provides clients with a low-code, completely automated, and configurable solution. This innovation in sales technology maintains control, boosts revenue, improves efficiency, and changes the client experience.
The Top 5 Agile CPQ Qualities
- Flexibility: Agile CPQ scales up or down and fits any pricing structure.
- Efficiency: Agile CPQ’s automated cross-team procedures boost productivity by cutting down on manual labor.
- Agility: With its always-current pricing, products, and subscription management, agile CPQ generates revenue growth and is quick to adopt and operate. It also keeps up with the speed of company change.
- Control: An Agile CPQ solution guarantees compliance, offers visibility and governance, improves revenue assurance, and facilitates more precise forecasting.
- Personalized CX: An Agile CPQ ensures brand consistency, stores all relevant data and documents, and provides a completely customizable and secure customer experience.
How to Use Agile CPQ to Increase Deal Desk Efficiency
B2B sales procedures are infamous for being drawn-out and intricate. For this reason, many businesses set up Deal Desks—dedicated, interdisciplinary teams that oversee complicated, high-value negotiations. Deal Desks handle all facets of these transactions, such as procedures for approval, compliance, and contract management.
Certain areas are where Agile CPQ can improve deal desk efficiency:
- Guided selling playbooks
- Pricing guardrails and always-current policies
- Process transparency and version control
- Increased communication and collaboration
Transparency and version control throughout the process; improved cooperation and communication
Income operations, or DevOps for short, aim to maximize potential income. This is how Agile CPQ empowers RevOps. DevOps drives deals to completion by coordinating marketing, sales, and service throughout the sales process. DevOps may advance sales and increase revenue potential by utilizing an Agile CPQ to increase sales efficiency. The following are the primary factors:
- Agile CPQ encourages interaction and cooperation between sales, marketing, and developers. This alignment and transparency achieve Better efficiency throughout the process eventually raising income.
- Large-scale product localization and customization are made possible by it. Because It simplifies the process of product configuration management, this increases the total addressable market (TAM) and may result in increased revenue.
Agile CPQ facilitates reducing sales processes by implementing real-time workflows and marketing techniques. CRM systems can be used with it to guarantee a reduction in sales procedures and increase deal potential.
- It provides RevOps with the ability to respond rapidly and accurately. This raises the possibility of earning more money and opens up more opportunities.
- Sales and product sales are the main goals of RevOps. It can improve DevOps capabilities bEnabling product and pricing modifications without interfering with current workflows and active sales processes.
- Agile CPQ’s guided selling empowers sales representatives to generate precise quotations quickly and adhere to a strict price strategy by utilizing guardrails. This capacity increases sales self-sufficiency and streamlines the sales process, which raises potential revenue.
Synonyms:
- DealHub CPQ
- Modern CPQ; Next-Gen CPQ
- Fast-moving CPQ
- Customizable CPQ
- Flexible CPQ
