Getting Products to Market Faster with Salesforce CPQ
Industry: Life Sciences
Products: Salesforce CPQ
The client accelerates research that leads to successes in biopharma, population health, consumer products, agriculture, wellness, and academic and government research sectors. Their work enables modern science to improve our understanding of complex disease, ultimately leading to the creation of new treatments.
The Challenge
Client’s quote approvals were slow and tedious, requiring multiple directors to approve various aspects of every quote. Approval flows were linear with dependencies that didn’t make sense, creating a quoting bottleneck that was frustrating to Sales and customers alike.
The product selection and pricing process was complex and based on multiple factors. This made it hard to manage the product line and find the correct products and pricing when creating a quote.
The former quote process didn’t support volume discounting, resulting in wasted time and lost sales. Furthermore, revenue leakage occurred when Sales Reps forgot to include certain requisite line items.
The Solution
CPQ Advanced Approvals now allow a quote to be simultaneously and separately routed to multiple directors with transparency into pending approval steps.
Leveraging CPQ features such as discount scheduling and tier pricing, the client reduced their product line from over 1,000 items to fewer than 80.
The client’s new scalable discount schedule accommodates complex discounting based on sample size, number of projects, and multiple other factors.
Configurable bundles were added to help with upselling.
Benefits
Decreased quote preparation times by 45%
Decreased the number of quoting mistakes made by 42% with the addition of configurable bundles.
Increased average quote dollars per customer by 3% with the addition of adding selectable features.
“CPQ turned our clunky quoting spreadsheets into a dynamic calculating tool, allowing us to quote faster and more accurately. Throughout the process, the Cloud Giants team asked all the right questions and kept us on track with our deadlines. Perhaps most importantly, our Sales Reps love it.”
–Associate Director, Global Sales Operations
