Biz Tips: What is CPQ for Microsoft Dynamics 365 for Sales?

Biz Tips: What is CPQ for Microsoft Dynamics 365 for Sales?

Biz Tip:

What is CPQ for Microsoft Dynamics 365 for Sales?

What is CPQ for Microsoft Dynamics 365

Microsoft Dynamics 365 for Sales enables your sales team to build relationships with customers through contextual data and insights. Analytic dashboards give visibility into sales results to help with training and coaching. These are powerful features that can be extended with the addition of another powerful software that puts Dynamics on hyper speed – CPQ.

What is CPQ?

CPQ is Configure Price Quote – a sales software that helps organizations configure the pricing of their products and generate quotes and proposals to be presented to their buyers. A CPQ can be configured using pricing models, discounting, product dependencies and other attributes, and typically includes contingencies for approvals. The software then prepares the quote or proposal and tracks receipt of the document and e-signature.

Configuration ensures that products or services are available, meet buyer specs, and deliverable within agreed-upon terms.

Price management allows sellers to choose between products, packages, and services, and offer discounts that are mutually beneficial.

Quote generation ensures everything comes together in a way that is on-brand, legally compliant, and contains all necessary collateral to help close the deal.

Why do Microsoft Dynamics 365 Users Need CPQ?

CPQ enables sales teams to generate accurate quotes in minutes, not hours, based on up-to-date product configurations and pricing rules. CPQ extends the value of Microsoft Dynamics 365 for Sales by giving sales teams the power to send customized, accurate, legally compliant quotes to buyers while tracking their engagement and interest.

CPQ solutions deliver ROI when your products or services feature a certain degree of complexity and the need for quoting accuracy is magnified through the prism of multiple choices or considerations. This is often the case with buyers in the Financial, Services, and Manufacturing industries.

Close Deals Faster with CPQ for Microsoft Dynamics

Research by Aberdeen Group shows that “best-in-class sales teams are 2.2 times as effective at minimizing the number of people, functions, systems required to generate a quote or proposal.”

CPQ software integrated with Microsoft Dynamics 365 for Sales streamlines the price quotation process and enables sales reps to generate error-free quotes from within their CRM, using templates and pricing that is updated in real time. In a highly competitive global market, CPQ is considered a mission-critical sales technology to enable sales teams to respond to buyer requests for quotes quickly while reducing administrative tasks.

Compelling Need for CPQ infographic - DealHub and MSDynamics

Putting Your Customer at the Center of Your Price Quote Process

Aligned with the Microsoft Dynamics mission to put the customer at the center of the sales process, a CPQ helps your sales team focus on their customers’ needs by responding faster with the right pricing, the right messaging, and the right content to help them make a decision.

The Sales Playbook tool within the CPQ guides selling workflows to keep deals focused on buyer needs and drive deals forward. Sales reps can select the right configurations for each customer to ensure consistency in pricing, discounting and approvals. A master CPQ template that simplifies multiple SKU variations into a guided question and answer process eliminates complexities and produces quotes that are easy for buyers to understand.

Benefits of CPQ for Microsoft Dynamics 365

Beyond providing an excellent buying experience, optimizing time to quote, and shortening the sales cycle, CPQ has other benefits:

  • Streamline Sale Process
  • Simplify sizing, configuration & pricing
  • Automate renewals
  • Ensure adherence to pricing & legal policies
  • Facilitate internal collaboration
  • Standardize proposals

 

Request a demo to learn more about how DealHub CPQ extends the value of Microsoft Dynamics 365 for Sales.

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