CPQ Salesforce Solution Transformed Virtana’s Quoting System
Headquarters: Palo Alto, California
Industry: High-tech, digital infrastructure management
Employees: 150+ worldwide
Challenges
Developing Better CPQ Processes
CPQ (Configure, Price, Quote) processes in Virtana depended on a team of several Excel experts who performed many operations in sheets they had prepared. A manual process requires human input for data entry, calculations, and analysis. This made it prone to errors, such as typos, incorrect data, and quotes that did not meet business rules criteria (e.g., too many discounts). Similar issues appeared in the first implemented Salesforce CPQ tool.
Improving Response Time
Only a small group of employees had access to CPQ in Excel. Waiting time for a quote increased as customer inquiries arrived, affecting their response time.
CPQ Automation
The company needed CPQ automation to be able to negotiate with customers. The lack of an efficient and timely response process was affecting the length and performance of the sales cycle.
Solution
One of the key benefits of Virtana’s Salesforce CPQ is its ability to manage complex product quotations. With Salesforce CPQ, the company now easily creates and manages product bundles, kits, and options, ensuring that customers receive accurate quotes based on their specific requirements. Salesforce CPQ also has robust pricing capabilities that allow the management of complex pricing rules and discounts with ease. All CPQ implementation objectives have been achieved.
Solution
Multiple Factors
Processes On a Single Platform
Virtana’s complex quote generation based on defined price books, including a set of bundling and business rules, needed a robust tool. Salesforce CPQ was able to simplify and automate Virtana’s processes. Salesforce CPQ allowed Virtana to create accurate and customized quotes for their customers, as well as manage pricing, product configurations, and product bundles. Management could set pricing rules based on specific criteria, such as product type, customer segment, or geographical location. They could set it all up on one shared platform. Moreover, decision-makers could track KPIs such as quote-to-close ratio, sales velocity, and product performance, to gain insights into their sales processes and make data-driven decisions.
Complex CPQ Transformed into The Self-Service Tool
Think Beyond’s challenge was to configure the Salesforce CPQ tool so that it would be sufficiently smart and agile to support Virtana’s sales team with the right prices for the right product at the right time. This would help facilitate agile management with little involvement from the IT folks. Think Beyond created a plan of development stages and then together with Virtana worked in a sprint-by-sprint mode. Think Beyond’s approach helped to implement the Salesforce CPQ solution that fully responded to Virtana’s needs. A deep and thorough understanding of the Client’s challenges combined with the employment of highly effective workshop methods helped to reach Virtana’s CPQ goals.
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Outcomes
Price
Generation
With the CPQ implementation, the sales team now possesses more influence over price generation, surpassing the limitations of merely submitting offer requests. This enhancement helps foster a dynamic sales environment by contributing to more strategic and personalized customer engagements.
Reduced
Waiting Time
It has significantly reduced the waiting period for price propositions, streamlined the quotation procedure, and improved overall effectiveness. This reduction ensures prompt responses to customer inquiries, positioning the sales team for more agile and competitive interactions in the market.
Pricing
Policy
With a unified and seamlessly executed pricing policy, Virtana’s CPQ system has simplified complex pricing structures and delivered satisfactory price offers for both Virtana and its customers. This successful implementation enhances operational efficiency through transparent and competitive pricing practices.
Customer
Relationships
The successful integration of CPQ at Virtana builds strong relationships with new customers and shows that Virtana is very responsive in every interaction. The level of customer engagement reflects the efficiency of the CPQ system and highlights the positive impact of streamlined processes on customer satisfaction and loyalty.
Your company may benefit from this solution if
01
You have a complex product catalogue with multiple product options and configurations.
02
You have a high volume of quotes or orders that require accurate and efficient pricing and quoting processes.
03
You need to streamline your sales processes and reduce the time it takes to generate quotes and proposals.
04
You want to increase sales effectiveness and reduce errors and inconsistencies in pricing and quoting.
05
You need a scalable solution that can grow with your business and integrate with other systems and tools.
06
You want to improve visibility and reporting on sales metrics and performance.
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Great Salesforce projects start with detailed research and development
Let’s talk about your needs
The Think Beyond team has been nothing short of amazing when it comes to delivering continuous Salesforce support. I am constantly impressed by their responsiveness, expertise, and attention to detail. They have gone above and beyond to ensure that our Salesforce instance is optimized for our business needs.
Eva Karnaukh
VP, Business Operations at Virtana
