By Martin H. Morrissette, Sirocco CMO – Book time with me
When it comes to selecting and implementing a CPQ (Configure, Price, Quote) solution, businesses often face a barrage of myths and misconceptions that can cloud their judgment. As an experienced CPQ implementation and service partner, we’ve encountered these myths time and time again in conversations with customers and prospects. Misinformation can lead to missed opportunities and stalled growth, which is why we’re here to set the record straight.
In this post, we’ll debunk seven of the most common CPQ myths, offering clarity and insights to help you make informed decisions. Whether you’re considering CPQ for the first time or looking to optimize your existing setup, we hope you’ll find this guide both enlightening and reassuring.
1. Myth: CPQ solutions are only for large enterprises
Debunk: While CPQ solutions are highly beneficial for large enterprises with complex product configurations, they are not exclusive to them. Small and medium-sized businesses can also benefit significantly from CPQ tools by streamlining their sales processes, reducing errors, and increasing efficiency. Many CPQ vendors offer scalable solutions that cater to the specific needs of businesses of all sizes.
2. Myth: CPQ implementation is too complicated and time-consuming
Debunk: Although CPQ implementation can seem daunting, modern CPQ tools are designed to be user-friendly and can often be integrated with existing systems with minimal disruption. With proper planning, the right vendor, and an experienced service partner like Sirocco, a CPQ solution can be implemented in a matter of weeks, not months.
3. Myth: CPQ tools are only for configurable products
Debunk: While CPQ solutions are ideal for businesses that offer highly configurable products, they are also beneficial for companies with simpler product offerings. CPQ tools can streamline the quoting process, ensure pricing accuracy, and improve quote-to-cash cycles for all types of products and services, whether configurable or not.
4. Myth: CPQ solutions are expensive
Debunk: The perception that CPQ solutions are prohibitively expensive is outdated. Today, a wide variety of CPQ solutions are available at different price points, including cloud-based and subscription-based models that reduce upfront costs. Moreover, the ROI from a CPQ solution – through increased sales efficiency, reduced errors, and faster sales cycles – often outweighs the initial investment.
5. Myth: CPQ is just an advanced pricing tool
Debunk: CPQ solutions are much more than just pricing tools. They also encompass product configuration, automated proposal generation, approval workflows, and integration with CRM and ERP systems. These features work together to improve the overall sales process, making it faster, more accurate, and more scalable. Book some time with us to explore your options.
6. Myth: CPQ replaces the need for a sales team
Debunk: CPQ solutions are not designed to replace sales teams but rather to empower them. By automating routine tasks like quoting and proposal generation, CPQ tools free up sales professionals to focus on building relationships and closing deals. In fact, CPQ can enhance the effectiveness of sales teams by providing them with accurate, up-to-date information and streamlined processes.
7. Myth: CPQ solutions are not flexible enough to handle custom business needs
Debunk: Modern CPQ tools are highly customizable and can be tailored to meet the unique needs of different businesses. Whether it’s custom pricing rules, specific approval workflows, or complex product configurations, most CPQ solutions can be adapted to align with a company’s specific processes and requirements. Vendors often provide extensive configuration options and APIs for integration with other systems.
Let’s get to work
We thought debunking these common CPQ myths might be important for understanding the true value that a well-implemented CPQ solution can bring to your business. Whether you’re a small startup or a large enterprise, the right CPQ tools and processes will streamline your sales process, enhance customer satisfaction, and drive revenue growth. At Sirocco, we’ve seen firsthand how overcoming these misconceptions can unlock the full potential of CPQ technology. If you’re ready to take the next step or have any lingering questions, our team is here to guide you every step of the way. Let’s move past the myths and start building a more efficient, accurate, and scalable sales process together. See also https://www.siroccogroup.com/solutions/cpq/ or contact us for more information.
We offer:
- Vendor-agnostic advice: We work with major CPQ vendors, ensuring you get the best fit for your budget and requirements.
- Implementation: Our experienced team will handle the entire implementation process, ensuring a smooth transition.
- Agility: We follow the SAFe methodology as our baseline for operational excellence and client deliveries.
- Ongoing support: We provide ongoing training and support to help you maximize the value of your CPQ solution.
