Telecom customers and prospects have high expectations when they solicit the services of a telecom broker. They want the best price possible, and they want a fast quote that can help them make their decision.
Because telecom brokers provide CPQ services across a range of carriers, they need CPQ software that can provide this speed and accuracy for all of their customers—especially as they scale, and especially as other telecom brokers embrace similar tech upgrades.
Adopting new CPQ software gives your brokerage the ability to deliver better services that improve your close rates and your sales revenue. Here are the specific benefits you can expect from this software.
Understanding Carrier and Service Availability
Brokers can’t afford to waste time quoting services from providers that aren’t available at a given address. CPQ software can eliminate this wasted effort by telling brokers exactly which providers are available in any scenario, ensuring that quotes are always representative of existing availability.
Even without comprehensive tools to fully identify serviceability at an address, brokers can use a CPQ solution to identify a list of main carriers at a location, and then identify likely available solution providers based on known reselling relationships. This saves time for your sales team—and, at the same time, it benefits your customers by streamlining the quote process.
Seamless Conversion of Quotes into Orders
Telecom brokers need a reliable quoting solution that can also share its data with a solution provider platform. This integration is key to using the information in that quote to generate orders quickly and efficiently, reducing the amount of administrative work for your sales team.
Using Algorithm-Based Software to Improve CPQ Efficiency
Manual CPQ processes aren’t sufficient to meet the needs of today’s telecom brokers. The sheer volume of CPQ tasks requires a software-based solution that is not only more accurate in its pricing and quoting, but also capable of generating results quickly to accommodate this volume.
In addition, algorithm-based CPQ can help you deliver more fair quotes that strike the balance between profitability for your business and value for your clients. Brokers typically brand themselves as being “carrier agnostic” and/or “impartial” when providing white glove service to their customers. The only way to achieve this in a cost-effective manner is through CPQ efficiency.
Speeding Up the Quote Creation and Proposal Process
The time it takes to generate a quote can have a direct impact on conversion opportunities—and your overall sales. CPQ software addresses this pain point on multiple levels, improving your CPQ service for individual prospects and accelerating your ability to deliver quotes at volume.
At the same time, the benefits of automation should extend beyond quote creation itself and bolster the entire proposal process. CPQ software can help outline the benefits of each proposed service option and even make recommendations based on the customer’s needs and service criteria. This eliminates a key drag on sales velocity and reduces labor costs in the CPQ process.
Integrating CPQ Software with Existing Business Solutions
The right CPQ software should make it easy to integrate with existing business solutions, especially when it comes to sharing customer information and data. Access to telecom data will support a faster and more accurate CPQ process, enable a greater degree of automation, and operate seamlessly within your larger tech stack.
When CPQ software is accessible via an API, brokers can utilize their own UI to control the end user experience, and to achieve their desired speed and accuracy in the CPQ process.
Scaling CPQ Processes as Your Business Grows
As telecom brokers grow, scalability becomes a critical concern. Automation is often the only way to scale your business without significantly increasing operating costs and/or suffering a reduction in the quality of your service.
With algorithmic CPQ software, scalability is no longer a concern. The success you experience by delivering a better customer experience can then be translated into broader CPQ service to a growing customer base—while still delivering on the promises of great service and value.
Meanwhile, as telecom brokers scale up, they find themselves offering their own set of services in addition to offerings from telecom carriers and solution providers. Your CPQ solution should give you the ability to automate and prioritize your own set of “over the top” products and services to maximize your sales and revenue opportunities.
More Competitive Quotes = Higher Win Rates
CPQ software ultimately makes it possible to optimize your quoting, both in terms of value and speed. By offering better quotes faster than your competition, your business can give itself an inside advantage that leads to higher win rates and stronger footing in your local market.
Find out how our software can support a more efficient CPQ process—contact us today.