In today’s hyper-competitive landscape, where the war for talent is relentless, and employees can instantly share negative experiences online, it’s crucial to prioritize employee satisfaction.
While there are numerous ways to do so (such as providing opportunities for growth and development, rewarding employees for achievements, prioritizing employee wellbeing, and ensuring open communication and transparency), companies selling configurable products can improve satisfaction dramatically by implementing a robust CPQ system.
In this article, we delve into the advantages of CPQ systems, underscore the significance of a positive employee experience, and explain how CPQ systems can contribute. With research indicating that companies investing in employee experience yield four times greater profits, it’s time to take action.
Understanding Visual CPQ and Its Benefits
A CPQ system is a software solution that helps sales teams configure complex products. Not only does it automate configuration, but it also prices products accurately and generates quotes immediately–all without the need for manual intervention.
Epicor CPQ Brochure
The way that companies quote, sell, design and manufacture products has fundamentally changed.
Epicor CPQ is different too, and this brochure distinguishes it from other CPQ solutions.
The most advanced CPQ systems provide a frictionless experience for salespeople and end customers, enabling them to configure products visually by simply dragging and dropping within a 3D visual interface.
These systems also integrate with other business tools, such as CRM, ERP, and CAD, facilitating end-to-end automation, communication, and collaboration among the sales team, engineering department, and shop floor.
The advantages of a CPQ configurator are numerous
Streamlined product configuration
With visual CPQ systems, sales teams can easily navigate multiple product options and configurations, ensuring they select the right combination to meet customer needs.
CPQ systems automatically calculate pricing based on the selected product configuration and any applicable discounts, ensuring that quotes are accurate and consistent.
Faster quote generation
CPQ systems can reduce the time it takes to generate quotes, enabling sales teams to respond quickly to customer inquiries and increase the likelihood of closing deals.
Enhanced customer experience
Providing customers with visually appealing, easy-to-understand configuration experiences can help build trust, reduce purchase anxiety, and improve the overall customer experience. Together, these benefits add up to higher conversion rates and deal sizes.
CPQ sales and engineering automation
Visual CPQ systems streamline tasks that traditionally require extensive back and forth between sales and engineering teams. With the help of CAD and design automation, these systems can reduce frustration, enable smoother collaboration, and free up time for more valuable activities.
The Concept of Employee Experience and Its Importance
The term “employee experience” encompasses the entirety of an employee’s interactions with their employer. It includes the work environment, technological resources, well-being, and opportunities for learning and development.
Ensuring a positive employee experience can directly impact your bottom line. Research shows companies that invest heavily in this area are 4x more profitable than those that do not. In addition, they are:
- 11.5x as often in Glassdoor’s Best Places to Work
- 4.4x as often in LinkedIn’s list of North America’s Most In-Demand Employers
- 2.1x as often on the Forbes list of the World’s Most Innovative Companies
- 2x as often in the American Customer Satisfaction Index
Why employee satisfaction is more important than ever
Investing in employee experience is essential for organizations that want to remain competitive, retain top talent, and foster a strong company culture. Here are some of the most important benefits:
Retention and Winning the War for Talent
In the face of the “War for Talent,” where high-quality employees are scarce, and companies fiercely compete for the best individuals, employee happiness has become crucial. Fostering a positive work experience encourages staff retention and continuity and helps organizations stand out as employers of choice, attracting top talent in a cutthroat job market.
Meeting high employee expectations
Today’s workforce has higher expectations than ever, exercising greater discretion over their chosen jobs and when to leave. By focusing on employee experience, organizations can meet these expectations and maintain a satisfied and engaged workforce.
Increased productivity and enhanced customer experience
Prioritizing the employee experience creates a satisfied, engaged, and productive workforce, leading to the success and growth of your organization.
Furthermore, happier employees are likelier to deliver a superior customer experience as their positive attitude and increased motivation translate into better interactions. These are just a few of the benefits of making improvements in this area:
- Increased customer loyalty
- Higher customer lifetime value
- Positive word-of-mouth
A stronger brand and company reputation
Crafting a positive employee experience lays the foundation for a robust company culture, elevating brand recognition and reputation.
The emergence of social media and review platforms, such as Glassdoor–where disgruntled employees can share their thoughts in real-time–has magnified the significance of upholding a positive image.
Demonstrating your dedication to your team and establishing a compelling employer brand will appeal to prospective employees, business partners, and customers alike.
How CPQ Solutions Improve the Employee Experience
By now, it should be clear that prioritizing the employee experience is vital. But where to start when it comes to improving it?
Successful companies have found that taking a multi-pronged approach–focusing on different aspects of company culture, workplace environment, and technology–is the key to success.
When thoughtfully chosen, seamlessly integrated, and fully adopted, technology can profoundly impact employee satisfaction, leading to a more efficient, automated, collaborative, and enjoyable work life.
Choosing the right software is vital, and it varies based on the organization’s unique needs. But for companies selling complex, configurable products, CPQ is the ideal solution to invest in. It provides unparalleled benefits to both employees and your organization, some of which are explored in more detail below.
Simplification of complex tasks
CPQ systems feature easy-to-use interfaces that guide sales teams through product configuration, pricing, and quoting, reducing the complexity of these tedious activities.
By minimizing manual work and the potential for errors, CPQ systems can help employees feel more confident in their ability to perform their job effectively. They also reduce the risk of employee burnout from doing the same mundane tasks over and over.
Enhanced collaboration and communication
CPQ systems can integrate with other business tools, like CRM and ERP systems, providing real-time updates and data sharing across departments. This improved flow of information can facilitate better collaboration and communication among sales, engineering, and the shop floor, fostering a more cohesive work environment.
Empowerment and skill development
By automating repetitive tasks and streamlining processes, CPQ systems enable employees to focus on higher-value tasks and strategic thinking. This shift in focus can empower employees to develop their skills, contribute to the organization’s growth, and advance their learning and careers.
Importance of a digital environment
Advanced CPQ systems, especially those with 3D, AR, and VR product configurators, contribute to a modern, digital work environment that employees are proud of. This is particularly important for Millennials and Gen Z employees, who value companies that embrace the latest digital technologies.
CPQ systems streamline the onboarding process for new team members by simplifying, standardizing, and automating complex and intricate procedures. By implementing a CPQ system, new hires can efficiently adapt to their roles, leading to a smoother onboarding experience and less stress for everyone involved.
Prioritizing employee satisfaction is crucial in today’s competitive environment, and implementing a robust CPQ system can enhance the employee experience for companies selling complex, configurable products.
If you’re interested in learning more about CPQ and its profound impact on employee satisfaction, don’t hesitate to contact one of our CPQ experts. Seize the opportunity to invest in your employees and create a positive work environment that drives success and growth for your organization