How Long Does a CPQ Implementation Take?
Technology has done wonders for business industries across the world. Many companies can’t function without utilizing computer software, and personal hardware to conduct day-to-day business. In the long run, those who don’t make the change to these upgrades often fall to the back of the pack.
The implementation of the CPQ system has done wonders for many sales-based companies. Today we’ll focus on how long it takes to implement CPQ through fleshing out the steps of the system.
Let’s first begin with determining what CPQ implementation is. CPQ stands for configuring, price, and quote, and mainly is helpful for organization processes. For salespeople and business owners, the systems help to organize your products, outlining pricing, while also delivering specific quotes that are based on customer choices.
When you utilize the implementation of the CPQ process, you’re optimizing your company’s quote to cash process. This system works in tangent with how unique your business is. From the unique sales team, to how your unique sales team handles your unique business needs. The great thing about this CPQ process is that it helps you to evaluate every aspect of your sales process.
The implementation of CPQ can take place over a series of eight steps. As far as the length of time, it can vary based on how quickly you can implement this process. The standard amount of time can take weeks if not months to complete.
The first steps that you’ll take with this process include defining your goals. Here you need to set up what your ultimate sales goals will be. Determine what your sales process needs and set measurable goals. Some of the KPI’s you should consider during this period are reducing the overall time spent selling, improving your quote turnaround time, and improving quote accuracy.
Your second step will involve focusing on supercritical CPQ features. Here you’re going to choose those features that are important to your current sales goals. Your third step will include choosing the right product team.
Find those top performers and backups in case you encounter resource crunches during the implementation of CPQ. In addition to this, it would work to team up with your CPQ partner for this process of implementation to figure out with project methodology to follow. These are the first steps in the multi-part process of implementing CPQ.
Your fourth step for this process of implementing CPQ will include optimizing your organization’s quote-to-cash process. During this part of the procedure, you are focusing on catering to the unique needs of your business. It’s a good idea to evaluate every aspect of your sales process.
In addition to this try to fine-tune according to your implementation project. Your fifth step is going to involve focusing on data management. You’ll need to find a way to keep your data ready for the exchange between your company’s CRM, CPQ, and ERP.
Once you complete this part, you’ll move on planning on your change in a management team. You need to add a representative who will provide end-user expectations from each sales team. Along with doing this, create user groups to expose your sales team to the product while in training. After this, your seventh step will include documenting your sales process. Do this through two steps: sales user training documentation and admin user documentation. These include your second set of steps needed to implement CPQ.
Lastly, your final set of steps will include ensuring post-product support. Since you’ve brought your implementation of CPQ now to the production state, you must discuss possible issues that can arise over the next few weeks or months. Team up with your implementation partner to figure out how to tackle minor issues that might arise during this process. This can help your business to implement this technological sales tool in the best way possible.