Why CPQ integration is the key to quoting success

Posted:

02/21/2023

| By:

Parker Trojanowski

As an MSP, you know your partners are spoiled for choice; your company isn’t the only one doing what you do. This is the simple reality of our digital age — there are always going to be other options. So how does one choose at all?

Finances are one factor. And CPQ (configure, price, and quote) integration is key to being able to give your partners more accurate quotes more efficiently. CPQ integration ensures that all relevant data is accurate and up to date across all systems, thereby making the sales process quicker and more efficient.

Automation is at the root of CPQ success. By automating what was once a series of tedious manual tasks, customers can get more accurate quotes quicker. This speeds up the sales process and increases the chances of closing a sale.

Furthermore, customers want more customization than ever; that means highly specific pricing. CPR quote automation gives customers more accurate quotes, and simplifies a complex process from a provider standpoint. Simply put, CPQ integration will help you avoid the silos of chaos by streamlining your quote process. Let’s talk about how this streamlining takes place.

What is CPQ?

CPQ software allows businesses to automate the process of creating, pricing, and generating quotes for customized products or services.

CPQ systems typically include tools for:

Configuring products or services based on customer specifications
Calculating pricing based on those configurations
Generating quotes or proposals

They can also include features such as:

Rules-based pricing
Discounting
Inventory management

The overall goal of a CPQ system is to streamline and automate the sales process. Our CPQ integration eBook, The Unparalleled Integration: ConnectWise PSA & ConnectWise CPQ, can show you how to go even further with integration automation.

What is CPQ integration and how does it work?

CPQ integration refers to the process of integrating quote and proposal software with other software systems, such as CRM (customer relationship management) system — CPQ-CRM integration further streamlines sales — or a PSA (professional service automation) system.

The goal of CPQ integrations is to improve the efficiency and accuracy of the sales process by presenting data from different systems in one place.

CPQ integration typically works by using APIs (application programming interfaces) to exchange data between the CPQ system and other systems. For example, customer information from a CRM system can be automatically imported into a CPQ system, and quotes generated by the CPQ system can be automatically exported to an ERP system for invoicing.

How CPQ integration benefits your business

CPQ integration benefits your business in a number of ways:

Increased efficiency

By integrating a CPQ system with other systems, such as CRM and ERP, you can streamline your sales process. This means faster turnaround times for quotes and proposals, as well as a reduction in the kind of mistakes attributable to human error.

Improved accuracy

Integrating a CPQ system with other systems can help ensure that all systems have the same information, reducing the risk of errors due to data inaccuracies.

Greater visibility

Having all data in one place allows all team members to interact with clearly laid out data. This in turn allows businesses to more easily identify areas where they can improve and make more informed decisions.

Better decision making

With access to real-time data, businesses can make more informed decisions, such as identifying new sales opportunities, pricing strategies, and forecasting.

Better customer experience

By providing accurate and timely quotes and ensuring a smooth sales process, CPQ integration can help improve customer satisfaction and lead to increased sales.

Cost savings

CPQ integration can save your business time and money by automating manual processes and reducing the need for manual data entry. This can lead to reduced labor costs and increased productivity.

Using CPQ tools to support integration

There are several ways to use CPQ tools to support integration:

API-based integration: Most modern CPQ systems include APIs (application programming interfaces) that allow for easy integration with other systems. These APIs can be used to exchange data between the CPQ system and other systems, such as CRM and ERP systems.
Data mapping: Data mapping is the process of defining how data from different systems will be mapped to the corresponding fields in the CPQ system. This is important for ensuring that data is accurately transferred between systems and that the information in the CPQ system is up to date.
Workflow automation: Many CPQ systems include tools for automating workflows, such as rules-based pricing and discounting. These tools can be used to automate tasks and reduce the need for manual intervention. CPQ automation helps improve efficiency and accuracy.
Reporting and analytics: Some CPQ systems include reporting and analytics tools that can be used to gain insights into the sales process. This information can be used to identify areas for improvement and make more informed decisions.
Customization: Some CPQ systems can be customized to meet the specific needs of your business. This can include customizing the user interface, adding new fields, or creating custom reports.
Third-party integrations: Some CPQ systems offer pre-built integrations with other systems, such as e-commerce platforms and marketing automation systems. By being better able to integrate with vendors and distributors, these third-party options make it easier to centralize product sourcing efforts. Cutting down the struggles of product sourcing can help MSPs navigate difficulties in the supply chain.

Ready to streamline your quoting process and improve your bottom line with CPQ software? Watch an on-demand CPQ product demo today.

What is CPQ integration?

CPQ (configure, price, and quote) integration refers to the process of connecting CPQ software with other systems in an organization, such as a CRM (customer relationship management), ERP (enterprise resource planning), or e-commerce platform. The goal of integration is to provide a seamless experience for sales representatives and customers and to ensure that data is accurate and up-to-date across all systems.

Why do we integrate CPQ and CRM?

Integrating CPQ and CRM systems provides several benefits for businesses:

Improved data quality: Integrating CPQ and CRM can help ensure that all systems have the same information, reducing the risk of errors due to data inconsistencies. This can improve the accuracy of quotes and proposals, and make it easier to track customer interactions.
Increased efficiency: Integrating CPQ and CRM can automate the sales process, reducing the need for manual data entry and making it faster to create quotes and proposals. This can lead to faster turnaround times and improved customer satisfaction.
Greater visibility: Having all data in one place can provide businesses with a better understanding of the sales process, making it easier to identify areas for improvement and make more informed decisions.
Better decision making: With access to real-time data, businesses can make more informed decisions, such as identifying new sales opportunities, pricing strategies, and forecasting.
Improved customer service: Integrating CPQ and CRM can make it easier to track customer interactions, which can help businesses provide better customer service.
Personalization: Integrating CPQ and CRM allows for a more personalized approach to the sales process, with a better understanding of customer interactions and needs.

Is CPQ part of CRM?

CPQ and CRM are two distinct types of software, but they are often used together to streamline the sales process.

CRM is a type of software that helps businesses manage their interactions with customers and prospects, while CPQ is software that helps businesses manage the process of creating, pricing, and generating quotes for customized products or services.

What does a CPQ do?

A CPQ allows companies to streamline their sales process by automating the configuration of products or services, the calculation of prices, and the generation of quotes. This can help sales teams to quickly and accurately generate quotes for customers, which can lead to faster sales cycles and increased efficiency.

What is a CPQ?

CPQ is a software tool that helps companies automate the process of creating and sending sales quotes to customers. The tool typically includes a product or service configurator, a pricing engine, and a quote generation module. The configurator allows sales representatives or customers to select options and features for a product or service, while the pricing engine calculates the cost based on the configuration. The quote generation module then creates a professional-looking quote that can be sent to the customer. The use of CPQ can help companies to streamline their sales process and increase efficiency by reducing the time and effort required to create and send quotes.

What are CPQ tools?

CPQ tools are software applications that help companies automate the process of creating and sending sales quotes to customers. These tools typically include a product or service configurator, a pricing engine, and a quote generation module.