When using any online tool at the consumer or enterprise level, users have come to expect fluid, uninterrupted processes that respond instantly to their commands. As connection speeds increase, we have become accustomed to nearly instant upload and download speeds for whatever we do online.
By and large, Configure, Price, and Quote (CPQ) systems used by some of the world’s largest companies are not able to keep up with the speeds demanded by the user. Transactions with multiple configuration selections can be a long and tiresome process. When performance lags it becomes difficult to get sales to adopt the CPQ system. Traditionally sales have used spreadsheets for quoting. Spreadsheets typically respond with no time lag at all. This sets the bar very high for CPQ systems that are designed to replace spreadsheets. And since spreadsheets don’t disappear after a CPQ tool is released, this presents a serious adoption problem for the CPQ system that has to compete with the familiar and nimble spreadsheet.
66% of an Account Executive’s time is spent on other, non-selling activities. With 34% of their selling time left, businesses should provide a blazingly fast and superior CPQ experience to help them maximize their limited time.
With over 20 years of experience with CPQ software, Shaowei Mao and Greg Davis have developed Veloce, a CPQ platform that has been optimized to deliver quotes ten times faster than competing solutions. While faster software is good to have from the user’s perspective, increased speed for CPQ could revolutionize sales and eCommerce as we know it.
For instance, when configuring, pricing, and quoting a sale, the salesperson often has to input multiple selections into the CPQ system with the time lag for system response increasing with each selection as the configuration gets bigger. With Veloce, each one of these interactions is 10x faster. Veloce also has a unique “intelligent solver” technology that can generate a complete and valid solution based on minimal information from the user. This means Veloce CPQ can reduce the multiple clicks typically required by CPQ systems down to a single click. Combine 10x per click performance improvement with a single click solution and you get an overall performance improvement that is orders of magnitude faster than any other CPQ system available in the market.
Veloce is also massively beneficial to any telesales workflow. With other software, a salesperson is forced to wait on the line with the customer while the quote refreshes to match a given configuration. This can create “dead air” on the line, leaving the customer questioning if everything is going smoothly. With Veloce, telesales representatives can relay information back to the customer in real time, ensuring the transaction operates smoothly.
However, Veloce CPQ also includes an easy to use customization UI that is perfect for creating a customer-facing eCommerce platform. Instead of operating through a sales agent to meet their customization needs, customers can select their own product configurations directly, with price quotes updated in real time. Entirely new channels of business are opened, and sales friction is reduced, all from a usable, powerful, CPQ solution.
Veloce CPQ integrates directly with all industry standard CRM and PLM platforms, and is guaranteed to significantly improve the speed of conducting sales.