10 Apr Use Oracle CPQ Cloud to simplify your business
If I asked you to guess what the largest living organism on the planet would be, you might think of some enormous sea creature like the blue whale. Maybe you’d consider a massive tree, like a California Redwood. The second would be a closer guess, but you might be surprised to find out that the largest living organism on earth is actually not one single tree, but a 106-acre grove of quaking aspen in Utah. The grove is called Pando, and it has been around for thousands of years. You can’t see its roots, but Pando is connected by an extremely complex root system. Yet when you walk through this forest, you can’t even see that the trees are connected.
Reading about how this organism is one living thing, connected below the surface, brought to mind the complexity of many businesses we work with. Oftentimes, these businesses have extremely complex products or offerings for their customers, and mapping out the many different product configurations and SKUs can sometimes seem like the root system of the quaking aspen, especially to your sales team. For sales, without the right tools like a CPQ system, it can seem like they’re being asked to draw from memory a map of an actual root system when they’re asked to create a quote for a customer—that’s fun for no one, especially the customer. The best case scenario for an incorrect quote means a longer sales cycle; the worst case scenario is that the potential customer goes to a competitor thinking that your company can’t even deliver a quote correctly, let alone the promised product or service. Messed up billing means time spent with customer service, potential refunds, or canceled deals. CPQ solutions, like Oracle CPQ Cloud, are built to handle this kind of complexity so that your input and output don’t have to be complex to return the correct information.
Simplify your sales cycle
You’ve heard this stat before: only 33% of your sales reps’ time is spent selling. Maybe more surprising, and more helpful: 50% of buyers go with the first vendor to respond. About half the time, just by being first means you win. With that being the case, you need to be sure that you can quickly deliver a quote that is 100% correct. Oracle CPQ Cloud ensures that your product and configuration information is up to date. You can deliver custom quotes through guided selling so that the quote is approved even before it’s out. Any time you have custom processes or manual inputs, you’re introducing steps that can produce errors. You can’t have errors in your quote and still be first, which means Oracle CPQ Cloud is the way to go.
Simplify your billing
So you’ve closed the deal. You were first to respond to the inquiry, and you delivered a quote that was completely correct. Now you need to ensure that the contract contains all of that complex pricing, with the billing rules that the customer agreed to, and that the billing goes out without a hitch. Oracle CPQ Cloud bridges this gap—automatically sending order information from the front-end CRM to the back-end ERP systems, as soon as it’s confirmed by the customer. Resources are saved, errors eliminated, and customers receive exactly what they want. No time spent haggling with customer service or being transferred to finance to dig through the contract. No refunds or discounts given because of mistakes. Just happy customers.
Simplifying how your sales teams interact with customers doesn’t change your complex industry or solution, it just means that your customers and sales teams deal with the beauty of the trees rather than the intricacy of the root systems that connect them. Oracle CPQ Cloud makes your company’s sales process like a pleasant walk through the forest, which means effective salespeople and well-served customers.
To simplify your sales process through Oracle CPQ Cloud, contact us today.