Your Guide to CPQ Selection
Selecting a new Configure Price Quote (CPQ) system is a big decision. This decision requires forethought for how you do business today and what your company wants for its future. Using a few key selection criteria for CPQ tools, you can find the right solution to grow your business.
There is a wide range of CPQ tools available to many different types of businesses. By defining clear selection criteria for CPQ solutions, you can easily narrow down a list of candidates that will fit your business best.
Important Selection Criteria for CPQ Systems:
You’ll first want to think about where your business is and its future growth trajectory. Your CPQ system can be as lite or robust as the products and business you support. It’s best to take into consideration a CPQ tool that includes a future oriented perspective.
Company Resources: It’s important to note your company’s current operations, people, and processes. And consider the impact of a new system on company resources. What tasks can you automate with a new CPQ solution? Putting new systems in place will require implementation time that should provide future pay out for your company resource goals.
Cost: Cost of a new ERP system is a certainly a factor in your decision. As you compare the costs of CPQ systems, be sure to look at the ROI (return on investment) and proven automation capabilities of each CPQ tool.
Cloud vs. On-Premise: Many companies are turning to Cloud CPQ because of its updated infrastructure, security advantages, and flexibility. Cloudsuite CPQ solutions eliminate the need for ongoing investment on in-house servers. For more information on cloud vs. on-premise CPQ solutions check out: Cloud vs. On-premise CPQ: Key differences, risks, and benefits
Implementation Support: As stated above, implementation effort is a major factor when selecting a CPQ system and can didctate how fast your software returns investment. That’s why choosing a reliable CPQ partner with industry experience, technical knowledge, and project management skills is critical. The greatest CPQ implementation partners have a deep understanding of companies similar to your own and have current customers providing excellent results and references. Above all, think of this as a critical decision for a working relationship in your CPQ setup process.
As you dig into your CPQ selection process we would like to offer our support in discussing your businesses goals and objectives for CPQ. Please feel free to schedule a meeting with one of our CPQ experts today.