RSMUS.comWithin the fast-moving business environment of global enterprises, managing customizable and complex products while dealing with length sales cycles, inconsistencies in analytics, and pricing is crucial to continued success. The CPQ tool is the newest wave in sales optimization tools that enables sales teams to quickly configure, price, and quote (CPQ) with increased reliability while reducing sales inefficiencies. CPQ works in tandem with CRM platforms, ERP programs, and other business technologies integrated to increase data accuracy. It is imperative clients understand the CPQ products available in the market to correctly select the business solution that fits their system architectural needs. In this blog post, we will review the one of the prominent names that stand out in the realm of Configure, Price, Quote (CPQ) Software: NetSuite.
What is NetSuite CPQ?
NetSuite CPQ is a dynamic tool that empowers sales teams to swiftly configure, price, and generate quotes for products and services—all within the NetSuite platform. This comprehensive solution ensures complete accuracy and reliability throughout the CPQ process. Notably, it enables the creation of immersive 3D product visualizations, elevating sales proposals and expediting the sales cycle.
Integrated seamlessly into NetSuite ERP, CRM, and ecommerce solutions, NetSuite CPQ leverages crucial data such as pricing, inventory, and profitability information. It streamlines workflows, automating transitions from sales to delivery phases. This automation facilitates the generation of essential documents like bills of materials (BOM), routings, and work orders, ensuring a cohesive and efficient operational flow.
Configurator
This tool is designed to empower salespeople and customers to effortlessly select features and options for your products and services. Its application of customizable business rules ensures that each configuration is meticulously accurate, eliminating the need for redundant double and triple checks.
Dynamic Pricing
NetSuite CPQ offers robust automation tools and workflow management features, it provides efficient automation for quoting and sales processes, streamlining operations and enhancing productivity. This innovative solution leverages standard pricing data in NetSuite as a foundation, allowing for the application of rules-based pricing based on customizations on product or service. The result? Dynamic prices that seamlessly integrate into both quotes and orders, facilitating smooth transactions and accuracy throughout the process.
Quotes
Revamp the quoting process from a manual time-consuming task, into a swift, one-click, transaction-ready experience. With the Live Quotes feature, sales professionals gain the capability to send interactive emails with their quotes directly to the customers. These interactive quotes allow customers to engage and express their interest. These messages are automatically delivered to a sales professional through the NetSuite CRM.
Proposals
The NetSuite CPQ Proposal Generator empowers sales professionals with a seamless and efficient tool to produce precises, branded proposals for customers. With a wide array of fully customizable templates, sales teams can swiftly generate professional and polished proposals tailored to individual client needs, allowing businesses to tailor the solution to their specific needs.
Bill of Materials and Routing
Revolutionize your manufacturing processes by increasing cost-efficiency and productivity on the shop floor. Utilizing embedded business logic, dynamically generate a comprehensive bill of materials and routing instructions specific to the configured product.
Guided Selling
Guided selling is powerful tool that aids sales professionals and customers find the right products and services. It offers a personalized approach by configuring a series of tailored questions that enable a deeper understanding of customer needs and preferences.
3D Visualization
Utilize the power off three-dimensional, browser-based, interactive product visualizations to allow users to explore and interact with configured items they are interested in. This cutting-edge feature empowers sales teams and buyers by enhancing their understanding and decision-making.
Ecommerce Integration
Offer a straightforward and user-friendly method for configuring products on your website. Integration with NetSuite Suite Commerce streamlines the customer experience. Whether through Suite Commerce or other compatible ecommerce Systems including Shopify and Adobe Commerce, NetSuite CPQ ensures a cohesive and intuitive product and price configuration process.
Conclusion
While you may not currently have a CPQ tool, the unique capabilities of the NetSuite CPQ might point to why this might be the next thing for you. NetSuite CPQ’s 3D visualization elevates the sales process, bolsters customer confidence, and facilitates more informed purchasing decisions. NetSuite quotes streamline communication and transactional efficiency, significantly enhance the quoting experience for both sales teams and customers alike. NetSuite Proposals feature offers a swift and straightforward method for creating proposals that customs can easily approve. NetSuite configurator significantly cut costs associated with verifying and reworking orders, leading to a more efficient and cost-effective process. NetSuite guided selling allow for informed recommendations that ensures a smoother and more satisfying customer experience, leading to improved sales outcomes.
To learn more about NetSuite CPQ and how you can add this to your tech stack, reach out for more information on how this CPQ tool is right for you.
