Artificial Intelligence, or AI, is stepping into every realm of life and making it easier and faster than ever. Anyone involved in sales should be happy to hear this because AI just made sales and quotes easier than ever. Known as Configure Price Quote software, or CPQ, this program suite is able to rapidly improve your productivity so that you can lock in sales faster and more efficiently than ever.
How AI Help Sales
Think about your normal sales call or meeting. You and the other party go back and forth with prices, quotes, discounts, deals and more. You have to keep approved prices and discounts in mind the whole time and often have to speak with management to approve any larger deal. This takes time. The more time a sale takes, the higher a chance the other party will either find another provider or they will back out of the deal.
You want to lock them in fast and get them under contract so that you secure the sale. That’s where this software steps in. Configure Price Quote software uses AI to access already approved discounts and the most current pricing. It helps you form quotes in a fraction of the time that can be changed based on the buyer’s needs and expectations.
Instead of hours, you can expect to have a fully-featured invoice ready in minutes. This also reduces the likelihood of having to get the quote approved since AI is able to adapt to new rules instantly. This makes you look better in front of the client and drastically reduces the time needed to get the client to sign.
Guard Against Mistakes
AI helps all areas of the sales team. One of the worst things that can happen is a mistake. For example, a sales associate quotes a lower price, never got approval and the client signed. This puts management in a bad place. Do they let the sale continue, do they penalize the sales associate, or do they confront the client and let them know about the mistake? Someone gets hurt and the whole company may feel the repercussions.
This sales program makes your business more successful because it guards against mistakes. The AI can be instantly updated from headquarters and adapted to fit new prices, discounts, products and more. This allows management to immediately update policies and rules in seconds. As you can see, this will drastically reduce mistakes so that sales associates can more confidently move forward with large sales.
You can use this program with basic and complex invoices. It doesn’t matter the size or complexity of the order. The AI will understand your needs and it will even work with sales associates to get them to improve profits even more.
Improved Monitoring and Visibility
Understanding trends can help in any business, but it can especially help in sales. If you know what a client wants before they even know it, then you can drastically improve your sales and profits. This insight can only be gained with the right data.
This AI sales program allows managers and associates to notice trends and it can even be narrowed to show trends by day, geography, company and more. Not only that, but the program makes the data more visible so that you can see and use it with ease.
On top of that, AI is adaptable enough to help suggest these trends to associates so that they can instantly make use of the information. For example, if certain geography is known for buying one product more than others than the AI can suggest this to associates so that they can push the product with clients. Being successful is all about having the right information and using it to make profits.
Reduces Manual Errors
Many sales teams use spreadsheets and similar programs to create quotes and figure out proper pricing for clients. That’s better than doing it by hand, but it’s not ideal. Not only are spreadsheets slow, but they require manual input. The more manual input a program has, the higher a chance human error will interfere with the quote. Not only that, but this necessitates manager approval acts as a bottleneck to sales.
Configure Price Quote software all but removes manual input. Human input becomes minimal and the AI works with the input to come up with the best price for clients. Not only that, but AI can be configured to notice errors and correct them. The reduction of errors ensures better pricing for clients, more trust in the company and significantly faster sales.
What company would prefer slow spreadsheets with error-prone human input compared to fast and error-free AI quotes? It’s easy to see why these programs are changing the landscape of sales. Not only that, but these programs are so easy to use that it should take very little time for the sales time to adapt.
Improved Trust and Better Experience
It’s simple when you look at it objectively. Would you trust a faster company with fewer errors or a slower company with lots of back and forth conversations? The former is obviously better. Not only do you trust that company more, but they’re better to work with and you want to buy from them.
AI sales programs turn you into a faster, more trustworthy company. That’s because the whole sales team can rapidly produce approved quotes without need manager approval. Not only that, but the quotes and prices can be updated in seconds rather than minutes or hours. This makes everything much better for the client, and it even reduces stress for the associate so they can focus more on the client.
The AI is there to do the math and quoting. This frees up your associate to give the client the experience they’re looking for. It’s a win-win for everyone involved.
It’s easy to see why CPQ software is changing the sales landscape. It makes it easier than ever to produce accurate quotes while improving trust in your company.