A Logistics Intelligence Provider Accelerates Outdated Pricing Processes with Salesforce CPQ
Client Success Snapshot
- Overview: An organization that provides analytics, benchmarking, and monitoring services to companies in the logistics industry
- Industry: Online Media (FreightIntel)
- Team Size: 101-200
- Annual Revenue: N/A
- Headquarters: TN, USA
- Markets: Global
A leading FreightIntel provider sought to update its cumbersome pricing system with a more efficient, digitally-enabled version. Its complex products were invaluable to consumers but challenging to quote, as sales personnel needed to manually configure the company’s extensive suite of offerings into their pricing figures. Often, reps would need to generate multiple quotes until they produced one that suited a client’s needs.
These factors resulted in a pricing process that was cumbersome, overly complex, and inefficient. The company wanted to do away with its manual procedures and implement an automated quoting tool that offered quick, consistent, and customizable quotes.
Gerent offered CPQ as an intuitive solution for the company’s quoting quandary. Salesforce CPQ (Configure, Price, and Quote) would empower the FreightIntel provider’s sales team to generate accurate pricing figures for any stated product configuration.
Under Gerent’s guidance, the FreightIntel provider established automated configure, price, and quote processes and set a new standard for efficient and satisfying client transactions. With CPQ, the company’s sales reps can now take a variety of factors — from optional features to customizations, quantities, and discounts — into consideration and produce multiple quotes for complex products within one proposal.
Client Success Story
Our client — a company known for providing supply chain organizations with the data and context they need to benchmark, analyze, monitor, forecast, and price — built a global reputation based on the strength and immediacy of its industry intelligence. The FreightIntel provider’s products and services offer immediate value, but until recently, purchasing them was a slow and inefficient experience.
The Problem: Manual Quoting Procedures Lead to Slow Transactions
When the FreightIntel provider approached Gerent in the fall of 2020, its quoting processes had fallen behind the times. Individual sales representatives completed nearly all pricing efforts manually — and while a hands-on approach may have worked for a company with simple goods, the FreightIntel provider’s offerings are, by necessity, complex digital products.
The company’s proprietary tools distill actionable insights from thousands of informational sources, providing users with the most current freight activity and logistics rate indices on the market. While the complex platform was invaluable to consumers, salespeople struggled with the process of generating quotes; they needed to manually configure the platform’s expansive suite of offerings into their pricing figures. Often, salespeople would need to generate multiple quotes until they produced one that suited a client’s needs.
When taken in combination, these factors resulted in a pricing process that was cumbersome, overly complex, and inefficient. The FreightIntel provider wanted to do away with its manual procedures and implement an automated quoting tool that offered quick, consistent, and customizable quotes. Upon hearing this request, Gerent offered a simple solution: Salesforce CPQ.
Salesforce CPQ Offers Accelerated (and Customized) Pricing Capabilities
Salesforce CPQ (Configure, Price, and Quote) would give the FreightIntel provider’s sales team the opportunity to generate accurate pricing figures for any stated product configuration. CPQ takes an abundance of factors — from optional features to customizations, quantities, and discounts — into consideration so sales reps can create personalized quotes quickly.
The company’s sales team could also access product specifications and options through CPQ; this capability would empower it to hone in on desired specializations, add-ons, and complex configurations, even without a product expert. Moreover, because CPQ is hosted within the cloud-based Sales Cloud platform, it could be used in conjunction with Salesforce’s CRM (customer relationship management) tools to drive more impactful sales decisions.
Another notable benefit that the company would realize by implementing CPQ is accuracy. To borrow a quote from Salesforce, “If your sales force has to manually research and write each quote, they are spending their time needlessly. The more accurate and efficient the proposed configuration and quote, the more of a trusted partner your organization will become.”
By simplifying, accelerating, and automating the quoting process with CPQ, the company’s sales team would gain the ability to provide a tailored quote quickly and avoid bogging down negotiations with ill-suited proposals. The efficiency boost can’t be understated. According to Salesforce, some CPQ customers have experienced a 30% increase in quote accuracy post-implementation.
Gerent’s CPQ Implementation Results in Greater Efficiency
CPQ provided an intuitive solution for the FreightIntel provider’s quoting quandary. Over a few short months, the company collaborated with Gerent’s solution architects to establish and customize CPQ to suit its unique needs.
As a result, the logistics intelligence provider can easily produce multiple quotes for complex products. Clients interested in the FreightIntel provider’s offerings are encouraged to submit specific information outlining how they wish to engage with the company. Post-submission, CPQ automatically generates a customized quote.
Sales reps also have the option to apply discounts to sweeten the deal — without necessitating constant higher-up review. To keep things consistent, the pricing system is set up to ensure all markdowns either fall within accepted parameters or trigger higher-level review. These factors, in turn, enable greater efficiency and team empowerment.
A business that helps supply chain organizations stay ahead of the proverbial curve shouldn’t be held back by outdated manual pricing procedures. With Gerent’s assistance, the FreightIntel provider has established automated configure, price, and quote processes and set a new standard for efficient and satisfying client transactions. Today, the company is better equipped than ever to maintain its place as an industry leader and continue charting a course into innovation.
Contact Gerent today to learn how we can help boost your team towards success!