Digitalization is essential for organizational growth and this growth is majorly dependent upon business revenue in any industry. There are certain KPIs that help and facilitate revenue growth like Time to Market, Risk Reduction, Sales Cycle Time, Upsell & Cross Sell etc. The application architecture for both B2C and B2B customers must facilitate the identification, tracking, managing and analyzing patterns of these KPIs to control the revenue and then they can be aligned for growth. In terms of unavailability of such application architecture, it is arduous and time consuming to keep aligned such KPIs for growth.
In recent times, modern digitalization methodologies have identified and nurtured CPQ products as a technological bridge in between any CRM and ERP systems. The reasons behind this CPQ bridge growth are:
This list can be much longer but it illustrates the point about existence and growth of CPQ.
As it has been repeatedly mentioned by respected business users and clients that CPQ is not just a sales tool that provides the data entry screen for sales people but it's a solid structure & platform for entire business transformation.
Business transformation must focus on various business models to be initiated like “offerings-as-a-service”, “on demand economy”, “Subscription economy” and involvement of different engagement models like digital commerce, omni-channel, mobile and conversational too. These business and engagement models take the business transformation to a superior level with non-arduous outcome of predictive analysis, personalization and especially two modern terms being bandied around these days – Artificial intelligence (AI) and as well as the industry favorite – Internet of Things (IoT).
CPQ works as a catalyst in such business transformations. In fact, not only as a catalyst but it works as the main ingredient with definite outcomes like:
CPQ focuses on Customer experience (Cx), Performance and Intelligence to drive various outcomes depicted above and also bridges the gap between any kind of CRM and ERP products in a structured E2E application platform.
The future of CPQ is envisioned in various enhancements:
Practice Head, Apttus and Zuora Practice, Wipro Limited
Kiran currently works as Apttus and Zuora practice head at Wipro. He has 18+ years of experience in CRM and Apttus products on various technologies along with Telecommunications, Healthcare, Manufacturing and High-tech domain experience.