What to look for in a Channel-Friendly CPQ Solution

In a market saturated with one-size-fits-all CPQ (Configure, Price, Quote) solutions, finding the right platform to meet your unique needs can be a daunting task. For those in the IT sector, where quoting involves intricate configurations and complex pricing, standard CPQ tools often fall short of managing these demands. This is where a robust, channel-friendly CPQ platform comes into play—a solution specifically tailored to address the challenges of selling within an IT channel ecosystem.

But what sets a channel-friendly CPQ apart from traditional options? And more importantly, what should you prioritize when searching for the perfect fit? 

In this blog, we will explore the key considerations to keep in mind as you navigate the selection process.

True Automation

While adopting a standard CPQ software can be a significant upgrade for businesses that previously relied on manual data entry and spreadsheets, it's important to evaluate how much of the quoting process is truly being automated. 

Does your CPQ still require your team to input data and perform manual adjustments? Are you automating the entire process, or just parts of it, leaving your team with extra work? 

Your CPQ should minimize your team's workload, automating as much of the process as possible, allowing your sales staff to focus more on building customer relationships.

For instance, your CPQ should be capable of fully automating the configure, price, quote workflow for renewal opportunities. It should also be able to automatically identify expansion opportunities—such as upselling, cross-selling, upgrades, maintenance and end of life/service, and generate accurate quotes ready to be sent to customers.

If your CPQ only combines limited price and product lists but still requires you to spend half a day building complex quotes, then it is not living up to its potential.

Robust yet User-Friendly

One of the most critical attributes of any effective CPQ solution is its usability. After all, automation is intended to simplify the lives of your salespeople. The best CPQ platforms, however, go beyond simple automation; they combine powerful capabilities with ease of use.

Indicators of excellent usability in a CPQ platform include:

•  Effectiveness: An important consideration in choosing a CPQ is how well the solution supports your business needs. If you are a technology vendor, distributor, reseller or MSP, finding a CPQ that is purpose-built to serve your needs is essential. Tech sales can be a complex and lengthy process due to several factors inherent in the multi-layered structure and the nature of the IT channel ecosystem. Which is why a standard CPQ could present unexpected challenges when configuring quotes that include multiple products, complex pricing logic, lifecycles and recurring revenue.
  
  
• Complexity: Can the CPQ handle products from multiple vendors on a single quote? This capability is crucial for channel partners that deal with a wide range of products and suppliers.
  
  
• Speed: Does it generate quotes more quickly than your current systems or processes? It’s important that the software provides a tangible improvement in the speed of quote generation and enables significant efficiencies and cost-savings. Ideally a CPQ should create and send quotes automatically, without the need for human intervention or modification.
  
  
• Scalability: It is not uncommon for today’s enterprise IT quotes to include hundreds of line items and multiple vendor offerings. Consider whether your CPQ can allow for bulk configurations and pricing updates vital for managing large-scale changes efficiently. This ensures that your sales team can quickly adapt to changing pricing or product offerings.
  
  

The CPQ you choose should not only meet the above criteria, but do so in a way that remains user-friendly, ensuring your sales team can leverage its full potential without unnecessary complexity.

For example, the iasset platform speeds up the quoting process and can create large complex quotes in minutes. It automatically generates quotes using parameters such as price lists, margins, and/or pricing logic and allows bulk configurations, pricing updates and quote versions. Distributors, resellers and MSPs also get the added functionality of combining products from multiple vendors into the same quote.