Is Your Company Ready for CPQ?
December 5, 2019
With CPQ expected to grow by 20% in 2020, many corporate buyers are exploring how a CPQ implementation might help their organization. You may be exploring this option now. It can be easy to have the urge to get started, but before rushing into implementation it’s essential that you take time to consider a few factors in determining your CPQ readiness.
What is CPQ and why do you need CPQ? Well, CPQ is a great fit for most companies that meet the following criteria:
If any of the above situations apply to your organization then CPQ can help your team’s performance and success. Knowing that you need CPQ is the first step of CPQ readiness.
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In order to evaluate whether you are truly ready to take on a CPQ project, consider the following readiness items:
Aligning all teams on where the company is heading is key in preparing for implementation. Gather your company’s decision-makers and ask big-picture questions such as: What are our high-level goals? What is our approach to change management? What are our short term and long term business plans?
Document your discussions and be sure that you reach an agreement on the direction that your company is going and the business’s prioritized goals. Every company’s high-level goals look different, and all stakeholders in your CPQ project should know what you’re working towards. Make sure everyone knows how the benefits of implementing CPQ software will help you achieve these goals.
What processes will CPQ software touch at your company? Likely quite a few. Take a look at each business process in its current state and map them out. Documented processes will help you to realize where technology can enable teams and also which processes should be left out of your CPQ implementation.
A good place to begin is mapping:
Start identifying potential areas of improvement where CPQ can fit into or completely replace your existing processes. Don’t worry if you’re having a hard time with the specifics; the experts on your CPQ Sales and Implementation teams will help to clarify these areas. Even having a general idea is a great step early on.
Once you have determined where CPQ can benefit your company, you will need to build a team and create a plan for actually implementing the software:
Another thing to keep in mind is that the implementation process doesn’t end when the code is first released. You’ll need to be prepared for:
Just as with mapping your business processes, do not concern yourself if you do not have all the details just yet. Things are sure to shift and adjust throughout the implementation cycle and your CPQ Sales and Implementation team can provide input on all of these items. The key is to raise awareness of these processes and give team members as much forewarning as possible that change is coming.
You can set the stage for a successful CPQ project with careful planning, process documentation, and alignment around high-level company goals. While this may sound daunting, the far-reaching benefits of CPQ are worth the up-front time it takes to ensure you are ready for implementation.
As a member of our Implementation team, Eric works with our customers to design and build configurators, specifically ones involving complex 3D scenes.