If you’re like most growing companies, you may be struggling to keep up with an increasing number of complex sales deals. Customers want quotes faster than ever with detailed product configurations and pricing. Sales reps feel overwhelmed trying to create accurate quotes while also spending time selling. Errors creep in leading to revenue leakage. Does this sound familiar? If so, you should take a look at NetSuite CPQ.

NetSuite CPQ (Configure, Price, Quote) is a solution that automates and simplifies your entire quoting process. It provides a guided selling experience for sales reps to ensure accuracy and standardization across all quotes. It also reduces quoting time from days to minutes while eliminating manual errors. 

In this post, we’ll cover:

– Key Capabilities of NetSuite CPQ

– Top Benefits for Your Sales Team 

– Who Needs a CPQ Solution?

– Common Concerns and Considerations

– Is NetSuite CPQ Right for You?

Key Capabilities of NetSuite CPQ

NetSuite CPQ comes packed with features to transform your quoting process including:

• Guided Selling – Intuitive questionnaires guide reps through product configuration based on predefined rules to meet customer needs and ensure accuracy.
• Pricing Management – Advanced pricing logic built-in that accounts for discounts, promotions, and customer-specific contract terms.
• Proposal Generation – Beautiful, professional quotes and proposals can be generated with one click.
• Approval Workflows – Define approval chains to control discounts and deal changes for governance.
• Integration with CRM – Tight integration with NetSuite CRM eliminates manual entry and ensures data flows between systems.
• Mobile Access – The entire guided selling process available on any device for sales reps on the go.

Top Benefits o f NetSuite CPQ

With NetSuite CPQ, you can expect to see significant benefits across your sales organization including:

• Increased sales productivity – Reps spend less time creating quotes and more time selling to customers to drive revenue. CPQ automates the busywork.
• Faster quoting turnaround time – Quotes go from taking days or weeks to minutes or hours by eliminating manual processes. Customers get quotes faster.
• Improved quoting accuracy – Guided selling ensures the right products, options, and pricing every time based on predefined rules. Errors are eliminated.
• Enhanced customer experience – Professional looking quotes with accurate details and fast turnaround impresses customers and builds trust.
• Higher win rates – Error-free quotes that meet customer needs increase chances of winning deals in competitive sales processes.
• Revenue growth – Overall sales velocity increases through speed and quality leading to higher closed revenue.

Who Needs a CPQ Solution?

CPQ software is designed for manufacturing, distribution, high-tech, and other companies selling complex products and services. It brings the most value to organizations experiencing rapid growth and increased deal complexity including: 

• High number of products/options – More configuration options makes manual quoting difficult and amplifies errors.
• Custom pricing terms – Customers want special negotiated pricing that reps must accurately account for.
• Complex approval chains – More controls needed around customized pricing and margins.
• Fast turnaround demands – Customers expect faster quoting turnaround times adding pressure. 
• Higher revenue deals – More sales mistakes creep in with high value, complex deals.

Common Concerns and Considerations

While the benefits of CPQ software like NetSuite are clear, we often hear a few common concerns that give customers pause:

• How hard is it to implement? Being a complex sales tool, CPQ can take weeks or months to roll out. NetSuite CPQ, however, is designed for rapid implementation with prebuilt configuration templates. Most customers are up and running in 1-2 weeks.
• How difficult is it to use? Some CPQ tools require extensive training for sales reps to learn. NetSuite CPQ focuses on intuitive guided selling designed for sales reps. Minimal training is needed to get started.
• How do we get adoption? Like any sales technology, user adoption is critical to seeing results. NetSuite helps drive adoption through tight CRM integration, mobile access, and an engaging guided selling experience.
• How do we handle custom use cases? Every company has unique quoting needs. NetSuite CPQ balances out-of-the-box best practices with customization capabilities to meet your specific requirements. 

Is NetSuite CPQ Right for You? 

If dealing with complex sales and quotes is slowing down your business and impacting revenue growth, NetSuite CPQ is worth a look. It brings automation and control to an otherwise chaotic process. Sales reps are freed up to have more selling conversations. Customers get fast, accurate quotes. And business velocity increases.

To determine if NetSuite CPQ is the right fit, ask yourself these key questions:

• Are your sales reps spending too much time creating quotes?
• Are quotes taking too long to get back to customers? 
• Are quotes going out to customers with errors?
• Is your business growing rapidly or becoming global?

If you answered yes to any of these questions, the time is now to evaluate NetSuite CPQ. Reach out to schedule a demo and one of our CPQ specialists can give you a customized assessment.