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Are you still creating quotes in Excel?

Most times, Microsoft Excel can be a perfectly convinient tool to capture details in a well-fomatted manner and macro-programmed Excel may even provide quick automation. However, is it good enough to be used as a CPQ tool?

Let us understand how Excel helps sales reps and sales managers to take quotes, in the first place.

To begin with, it is an easy option to choose when it costs less with the current volume of data and given that sales reps are well-accustomed to using it. Additionally, it provides the following perceived advantages:

  • They can save their local copies with some values prefilled, as per the products / models they sell, and use that version every time they need to create a new quote

  • They can have a local copy of the Excel sheet available on their devices, allowing them to update the quote details whenever required

  • Excel presents the least IT spend - because not many executives or specific skills are required for any system management

Though it all seems to work now, there are some challenges that keep sales teams wishing for a more streamlined CPQ (configure, quote, and price) tool in the organization. These challenges could be any or all of the following:

  • Sales reps may have multiple versions of the same quote, across multiple Excel sheets. The quotes generated may have inconsistencies and human errors - like usage of obsolete parts, misspelt attributes, and unchecked parts compatibility

  • With sales reps using their own local copies, there is no guarantee that they are using the latest versions (with updated parts and rules). This may lead to integration issues when the quote is being imported into the order management system, causing errors and failures

  • The sales manager cannot view all the quotes being worked upon by his/her team, even though individual sales reps have details of their work

  • Sales reps may face inconsistencies with Excel versions, depending on the OS in the system they use

Hence, organizations need a CPQ tool in order to achieve:

  • A streamlined quotation process

  • Quote accuracy and integrity

  • Ease of product configuration, pricing, and approvals

  • Agility and mobility

What better tool to achieve these benefits, than Oracle CPQ Cloud - one of the best tools in its class!

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