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Elevate Your Forex Trading Game with Trendonex: The Ultimate Automation Solution

Posted by Sazzad Islam Sizu on May 20, 2024 at 9:01pm 0 Comments

In the competitive world of Forex trading, staying ahead of the curve is essential for success. To gain an edge in the market, traders are increasingly turning to automation tools like Trendonex for MT4. This article explores how integrating Trendonex can elevate your Forex trading game and help you achieve your financial goals.



Understanding Forex Robots

Forex robots, also known as Expert Advisors (EAs), are automated trading systems designed to analyze market data, identify… Continue

All You Need to Know Before You Use CPQ Software

A configure, price, quote (CPQ) software assists sales teams to accurately build and price their products and services.

This software uses a preprogrammed set of rules to configure complex products, integrating with different CRM platforms, ERP systems, and also other existing architecture for a more streamlined end-to-end process.

In the past, sales representatives used to spend weeks learning the complexities of the business before they could accurately quote their customers.

However, with design automation software, there’s no need for any specialized training, and the sales process also gets reduced.

This allows for a much better experience for the manufacturers and customers alike.

Today we discuss everything you need to know about configure, price, quote software pre-purchase, including what exactly a 3D product configurator is, its benefits, CPQ vendors, and more.

Take your business operations to the next level by investing a few minutes from right now.

CPQ Configurator

Online product configurators have become really popular in recent years, thanks to huge buyer demands. 

In short, buyers expect better products quicker. 20% are willing to pay a premium for personalized products.

However, increased customizations lead to increased complexity. This complexity can lead to bottlenecks between sales and manufacturing and more of the dreaded human errors.

With robust CPQ software, companies use a “product configurator” programmed with “product rules” to quickly create offers.

These rules decide how the products are assembled, making non-viable configurations impossible. Company sales reps just need to answer a series of questions until they arrive at the desired product.

The days of combining customization options in elaborate product catalogs are now gone. CPQ configurators take products from concept to the finished article in a fraction of the time. 

Advantages of CPQ Software

Apart from configuring and pricing the products in a better way, there are more benefits to CPQ software. It also:

  • Makes the sales process simple. No more number crunching, and sales reps also don’t need in-depth technical know-how. The simplicity of CPQ software allows 12% more sales reps to achieve their quota.
  • Enhances user experience. CPQ software provides 2D and 3D experiences, where they change the products based on the options that a user is selecting.
  • Eliminates human error. There are lesser delays, refunds, and miscommunications. (This leads to higher customer satisfaction and retention.)
  • Opens new opportunities. CPQ rules and visualizations make it convenient to manufacture problem products – the ones too difficult to quote and produce before.
  • Reduces the sales cycle. Configuration is very dynamic, and the software creates quotes in real-time. This reduces the sales cycles by almost a third, as shown by the Aberdeen Group.
  • Hastens manufacturing. BOMs, cut sheets, and even instruction documents are created based on the product configuration. This ensures a smooth switch transition from the ordering to the build phase.

Some Known CPQ Products

CPQ configurator software is generally configurable, customizable, or has multiple options.

Some of the most common CPQ products are found in:

  • High-tech
  • Manufacturing 
  • Biotech
  • Modular buildings
  • Retail / eCommerce
  • Furniture
  • Building supplies
  • Aerospace
  • Automotive
  • Heavy machinery

Think of it this way: If your business has to quickly and accurately generate quotes for a complex order, CPQ software can help.

Is CPQ Software Any Good?

With a plethora of tools, businesses use to maximize profits and enhance the customer experience, footing the bill for another isn’t ideal.

To see if you really require a configure, price, quote software, ask yourself the following questions:

  • Am I selling complex products with complex pricing models?
  • Am I working on a global scale and need quick and accurate pricing data for stores?
  • Is my sales team making a lot of errors generating quotes for customers?
  • Is it a slow turnaround when quotes are being generated for customers?
  • Is my sales team missing crucial information to upsell or for bundles? 
  • Can quotes for customers be found on all reps’ devices?

If you answered yes to any of the above, it’s time to start looking at your list of potential CPQ vendors. 

Who can these CPQ Vendors Be?

There are a lot of CPQ vendors, four of which we are showing here:

KBMax

KBMax delivers an end-to-end configure, price, quote solution that’s geared to helping manufacturers of complex products simplifying their sales and manufacturing process.

KBMax’s 2D and 3D product configurators are fast, dynamic, and easy to program. They pair with CAD software to auto-generate technical drawings, thus eliminating the constant back-and-forth between sales and engineering departments.

Also, a KBMax configurator can be easily embedded into a customer-facing website. It’s so easy to use that buyers can even configure, price, and quote themselves, even for the most complex products.

Lastly, if you’re using Salesforce, KBMax can also integrate seamlessly with Salesforce CRM.

Salesforce

Salesforce CPQ is a vendor that allows your business to automate the quoting, contracting, and ordering process with your customers. It also gets blended seamlessly with Salesforce CRM, similar to KBMax. This makes it easy to handle all the customer data in one location. 

PandaDoc

More lightweight than a full CPQ solution, PandaDoc is designed to improve document workflows and selling processes. It also allows fast-moving teams to manage the processes of creation, revision, and assessment of documents. This includes proposals, quotes, contracts, and more. 

Oracle CPQ

Oracle Configure, Price, Quote (CPQ) guides the customers through a step-by-step process to configure an order and then receive a quote too. It connects front and back offices, thus improving the overall order accuracy, reducing sales cycles, and also lowering operational costs.

Nevertheless, Oracle CPQ, like SAP CPQ, is suited more for enterprises. Because of this, some find Oracle CPQ pricey and difficult to maintain.

Features to Look For In CPQ Vendors

Here are some key aspects to consider when in the market for a CPQ vendor:

  • Interactive customer visualizations. A 2D, 3D, AR, or VR environment embedded on your website should update the products, options, and even the pricing, all based on the options that the user is selecting.
  • Integrations. Deliver personalized buying experiences using the data that you pull from other business technologies like CRM platforms. 
  • Complex rules engine. To drive the sales and cut down errors, ensure the rules engine can tackle the complex mathematical functions and manufacturing data with convenience. 

Finality About Configure, Price, Quote Software

When it is about selling complex products, using CPQ software to configure, price, and generate automatic quotes can lead to a huge difference in your company. It reduces sales cycles and brings more customers through your sales pipeline.

By automating these time-consuming and error-prone sales processes, you will cut bottlenecks while improving customer experience. For further understanding to see how CPQ is right for your team’s efficiency, check out the definitive guide to CPQ sales.

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