- What is IT Product Quoting Software?
- Features of IT Product Quoting Software
- Benefits of IT Product Quoting Software
- Enhance Your Business ROI with VARStreet’s IT Product Quoting Software
First impressions can either make or break the deal. The more you understand your customers, the better you can communicate with them. With effective communication, you can deliver better quotes to your customers, thereby getting a good chance to close the deal.
Sadly, IT products VARs distributors suffer from inefficient business processes that may result in communication breakdowns, and eventually loss of sales. To resolve this issue, you can leverage IT product quoting software into your business. It will not only optimize your sales process but also lead your business to sustainable growth.
What is IT Product Quoting Software?
IT product quoting software is an automated sales software that the sales team of IT organizations uses to generate customized quotes of complex IT products with appropriate pricing. The IT products VARs distributors use this software to filter out all the IT products as per their needs and preferences.
A quotation software automates the entire sales quoting process to offer flawless quotations. It is highly valuable for the sales team as it assists them in creating accurate product combinations and automating the approval processes.
Several companies still depend largely on spreadsheets for the management of quotes. They spend the maximum of their time and energy on seeking approvals.
According to a report by SoftClouds, around 50 percent of the sales time is lost on unproductive prospecting and error correction.
However, with the help of VARs quoting software, you can make the entire process effective by accelerating even the highly complex quotes.
Features of IT Product Quoting Software
Following are the features of IT product quoting software that streamlines the process of quote creation and approval for IT VARs:
The sales reps want to be accessible at all times, and accordingly need easy access to the requisite tools and applications. The cloud-based quoting software enhances the accessibility, efficiency, and productivity of the sales team. With cloud-based quotation software, you don’t have to incur huge expenditures, which thus yields better ROI in the long run.
Strong Integration Capabilities
It becomes challenging for IT product VARs to work with individual systems and related data as it may result in inconsistencies. However, quotation software provides robust integration capabilities that allow integration of a vast range of applications like ERP, CRM, eProcurement software, accounting software, etc. It ensures an automated flow of data from one system to another, mitigates duplication of data, and enhances productivity.
The VARs quoting software also supports integration with third-party payment gateways to ensure that the online payment processes are executed with ease. As a result, consumers can complete the payment processes all at once, resulting in higher usage of quote-to-cash processes.
Automated Creation of Quotes
The IT sales professionals spend only 35.2 percent of their time in prospecting, strengthening customer relationships, and selling activities. The remaining 64.8 percent of the time is utilized in creating complex quotations, regular administrative tasks, incorporating data into the CRM, and various other non-sales activities.
The IT product quotation software automates the process of quote creation through its customizable quote templates, robust search engine capabilities, integrations, configurations, pricing, and much more. This way, you no longer have to spend much of your time on mundane, manual, and repetitive tasks and rather focus on closing the deals faster.
Automated Pricing Management
When the list of IT products expands, it becomes difficult to manage the product pricing and evaluate competitors. Moreover, you lack real-time information about the prices. It is the fundamental reason that leads to inaccuracy in the quoting process, thus affecting the profit margins.
In this regard, quoting software promotes automated price management functionality. It helps you to view the latest pricing information and accurately price your products keeping all the variables in mind. The software also handles price lists and multiple currencies if you have your business across the geographical boundary of the home country.
Robust Rules Engine
There’s a possibility that you added the wrong product combinations by error, and have had to endure the consequences. Right? Such errors not only decelerate your sales cycle but also lead to reduced profit margins. A quoting solution provides a robust rules engine that eradicates all these possible errors and prevents them from occurring in the future.
It creates a pre-programmed sequence of rules based on your needs and prevents you from bundling and pricing errors when creating sales quotes.
Powerful Configuration Capabilities
It is quite an uphill task for the IT product VARs to process orders of configurable products. Nowadays, customers demand IT products that are customized to their preferred needs. Moreover, they want them instantly.
The quoting software provides numerous configuration options, so the customers have a broad range of choices to configure the product designs.
The sales reps have to be on the move with the customers. In that case, the desktop-based application may pose an obstacle when converting the leads into sales. Quoting software with the mobile application allows the sales reps to access and handle the quoting activity anytime and anywhere, provided you have an internet connection.
The members of the team regularly need to access the quoting platform. Uncertified access to the price lists and product catalogs may pose a surplus of security hindrances.
With VARStreet’s IT product quoting software, you can be flexible in assigning tasks to the respective sales personnel in your team. However, user authorization and other significant functions are controlled by the management.
VARStreet also offers eSignature functionality in its quoting software that enables you to get the signature of the customers in a snap. It not only eliminates the paperwork but also authorizes the customers to review, sign, and revert the documents in seconds. Therefore, it is one of the best features that enhance customer experience and ensures more deal closures.
It is time to say goodbye to the traditional approach of selling. Through modern quoting software, you can empower your sales representatives to establish engaging communication between the buyers and the sellers. The directed selling comprises a set of questions that you may ask to understand the requirements of the buyer. After understanding their needs accurately, you can suggest custom IT products to the buyers.
The IT quoting software also provides reporting functionality that enables you to view the insights of the business. It not only assists you in generating reports but also aids in analyzing the customer journey from the quote to the retention process. This way, you can make smart decisions that may yield higher profits.
Benefits of IT Product Quoting Software
Now that you have understood the features of IT product quoting software, let’s have a look at how this software can help you in your quoting process:
Makes the Quote Creation Process Easier
The IT product quoting software makes your everyday sales process a lot easier and faster. With it, you can easily access your product catalog in one dashboard, select and add products to the quotes effortlessly. The shift of manual creation of quotes to the automated process accelerates the sales process and shortens the sales cycle.
Eliminates Errors and Enables Accurate Quoting
The quote creation process for complex products may be challenging for IT VARs and result in errors in your business sales cycle. Ultimately, it extends the sales cycle and poses a threat to the brand image.
IT products quoting software comes with modern pricing, rules, and validations that help to create precise quotes and prohibit quotes that do not conform to set rules. Moreover, the integration capabilities of the quoting software sync the data across all applications, which avoids duplication and errors in the manual entry of data.
Assists in Managing Quotes Anytime and Anywhere
The quoting software enables sales reps to manage the quotes anytime and anywhere. They can check the inventory of available IT products and pricing from all the distributors on their mobile devices with the help of VARs quoting software. It allows real-time syncing of a single database in both web and mobile applications. This software not only enhances productivity but also empowers the sales reps to completely focus on selling. It also authorizes them to detect up-sell and cross-sell opportunities, thereby enabling them to meet the sales targets.
Improves Lead Conversion Rate
The accurate, professional-looking quotes delivered to the customers in less than 24 hours have a higher probability of conversion than an erroneous one. The IT products quoting software does just that!
With the help of the quoting software, the customers can log in to their account, place orders, and proceed further with the checkout process, even when you are not available. Thus, it improves the lead conversion rates and boosts the revenue of the business.
Automates the Approval Workflows
The IT products quotation software provides flexibility to the IT VARs to automate the approval workflows that gives complete transparency and control to the managers over the quotation process. It not only helps the VARs safeguard their profits from over discounting during the process of quote creation but also accelerates the approval process in just a single click.
Better Customer Satisfaction
As discussed earlier, the IT quotation software helps to create error-free, professional-looking, and customer-centric quotes that automatically lead to better satisfaction for the customers. It provides a holistic approach to serving the consumers and offering a harmonious brand interaction, thereby making it easier for the consumers to communicate irrespective of the sales rep or department.
Enhance Your Business ROI with VARStreet’s IT Product Quoting Software
The IT products quoting software offered by VARStreet consists of all the advanced functionalities that an IT VAR requires to optimize the sales process. It shortens the sales cycle, eradicates errors and redundant processes, skyrockets lead conversion rates, and augments the average size of the deal.
With VARStreet’s quoting solution, you can increase the ROI of your business and take it beyond the level of perfection. It leaves a lasting impression on the minds of the consumers by streamlining the quoting process and making the entire sales process faster and more productive.