Provus Blog

Product CPQ for Services Quoting? Are you trying to fit a square peg in a round hole?

by | Apr 11, 2022 | Services Quoting Cloud

Aberdeen Research had highlighted in a report that Best-in-Class CPQ users average five times greater growth in revenue year-over-year and 4-fold growth in net profit over a five-year span. You are a product company (physical product or subscription products) and you implemented a Product CPQ solution. You were hoping that Product CPQ can help you streamline the quoting process for the sales teams by making it easy to configure complex products and services and create accurate quotes.

If you are an organization that has implemented the Product CPQ solution, you are now faced with very different and unique challenges –

  • How do you improve your services attachment rate?
  • How do you ensure that you have a comprehensive proposal combining your product quote and services quotes together?
  • How do you make sure that your deal size increases without having to compromise on the speed and win rate?
  • How do you improve customer experience by giving them timely, accurate, and combined quotes to buy products and services together?

Most modern organizations are struggling with these challenges.

 

This is where Product and their innovative Services Quoting software play an important role. Many of their customers have realized the benefits of implementing Services Quoting (connected with either CRM system or Product CPQ solutions) and gained significant ROI impacting their top-line as well as bottom-line numbers.

The following diagram explains how Provus Services Quoting works seamlessly in parallel to your Product CPQ and yet fully integrates with your Quote automation process.

 

Immediate benefits of using Provus Services Quoting

As you can see from the diagram above, with Provus Services Quoting, you will realize the following benefits immediately –

  1. Increase in services attachment rate
  2. Bundle your product and services together for your customers
  3. Increase deal size significantly
  4. Enhance customer experience and
  5. Accelerate your sales process

In addition, Provus Services Quoting brings real-time data from relevant systems to not only manipulate scenarios but also, to calculate win probability. This is done based on historical data being analyzed in a meaningful way.

To conclude, do not try to fit a square peg in a round hole. Your product CPQ solution is not meant to provide a meaningful and scalable solution for your services Quoting needs. Provus is built ground-up to solve these Services Quoting challenges.

Share Blog:
Resources
Download Solution Brief Now

Services Quoting for Professional Services

Download Solution Brief Now

Services Quoting for Consulting Services

Download Solution Brief Now

Services Quoting for Asset-Based Services

All blogs

How to optimize margins in a systematic way?

How to optimize margins in a systematic way?

When we talk about KPIs, there is nothing better than conversion. Improving the bottom line and making profits is the ultimate aim of any business. However, the road to profit is a tough one, especially for professional service organizations.  Techniques like...

How To Stop Revenue Leakage During The Quoting Process?

How To Stop Revenue Leakage During The Quoting Process?

Revenue leakage is the unintentional and unnoticed loss of revenue from a company. It typically comes from unbilled or underbilled service hours or products – essentially, you’re doing the work and not getting the right amount of compensation. Every successful and...