How do you use multiple quotes?
The multiple quotes feature in a CPQ tool lets you create multiple quotes linked to the same opportunity, each with a value equal to the sum of the quotes.
Multiple quotes help CPQ users track and report on their sales opportunities more correctly. However, this is a more recent addition to CPQ software, and some older CPQ systems can only make an order from a single quote by chance. Because of this, more advanced CPQ solutions are adding the ability to create multiple quotes linked to the same chance.
Different Words for “Multiple Quotes Function”: Why CPQ Users Need This Function
Many businesses that use CPQ software sell to the same customers repeatedly, give more than one quote simultaneously, or sell multiple products from different business units simultaneously. These CPQ users can link multiple quotes to a single chance or deal thanks to the various quotes feature in their CPQ tool. This helps the teams that work on sales opportunities keep correct records of them and report on them.
Without the ability to send multiple quotes, the new orders open up new possibilities, leading to reporting sales mistakes. On the other hand, with various quotes, the latest quotes can be linked to the original chance, and the correct information will show up in the sales reports. You can also add more than one price to a deal, and the deal amount will change to reflect that.
How to Use Multiple Quotes
When a customer places more than one order with a business over the course of the year, the various quote features in CPQ can be helpful. When there are multiple quotes, sales administrators can keep the opportunity up-to-date by adding new quotes monthly under the same opportunity. This way, they don’t have to create a new opportunity for each order.
This is similar to when a salesperson sells extras or “upsells” after making a sale. They need a way to ensure that the original opportunity’s value is updated and not changed to create a new opportunity or change the value of the original chance. With the multiple quotes feature, sales reps can make a deal, add-ons, and upsell on top of it, and the deal amount stays the same.
When a business sells solutions with many quotes, often from different areas, the multiple quotes feature comes in handy again. By getting multiple quotes, these businesses can either make one big deal or deal with numerous quotes for different options.
In the same way, a company may need to make a separate quote for each product they sell. Say there are five quotes for five different goods. The customer can choose which quotes to include in their order. All quotes sync by chance when you use the multiple quotes feature. The opportunity’s total value is equal to the sum of the quotes.
Pros of Having More Than One Quote in CPQ
It’s all about how you show yourself in sales. Sales teams can close deals faster when they present a short sales proposal with multiple quotes in a clean, branded format. With this new technology, sales reps can make various quotes for a single proposal linked to a chance.
There are several reasons to use CPQ’s multiple quotes tool, such as:
- Users can make more than one quote for the same deal.
- Brings together quotes from different sources.
- When add-ons or upsells are made, the original opportunity value is changed.
- Reduces the need to make deals or changes by hand.
- Let’s use more than one quote form for various goods.
- It gives you more freedom to assemble product bundles tied to a single chance.
- Add up all the quotes in a deal automatically.
- Users can make multiple quotes for different orders.
Customers also get something out of it:
- It helps sales reps answer customers’ requests for complicated quotes more quickly, which makes customers happier.
- Customers can add more than one price to their final orders.
- Customers with multiple addresses and orders for each location can accept quotes linked to a single master opportunity.
