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NetSuite introduces CPQ to help organisations simplify sales process

Oracle NetSuite has announced NetSuite CPQ, which helps sales teams to configure, price and quote (CPQ) complex products with complete accuracy and reliability directly in NetSuite. The solution allows them to be more efficient and save costs in the pricing process by selecting product features and applying customisable business rules to ensure that every configuration is correct, eliminating the need to double-check and rework orders.  

“Empowering sales organisations with the right tools is essential to closing deals faster and meeting ever-increasing customer expectations,” says Evan Goldberg, founder and EVP, Oracle NetSuite. 

“We have been helping our customers with this for many years with a business system that fuels growth, and NetSuite CPQ is the latest step. NetSuite CPQ will help our customers quickly configure their product offerings and generate accurate proposals so that they can streamline revenue processes and improve overall business outcomes.” 

NetSuite CPQ is the only native configure, price and quote solution built on the NetSuite platform. It works with NetSuite ERP, CRM, and eCommerce solutions using NetSuite pricing, inventory, profitability, data and connected workflows that automate the transition from sales to delivery. Once an item is configured, the bill of materials (BOM) is automatically created. It can be used with NetSuite Manufacturing modules such as WIPs, routing, work order assemblies, and advanced manufacturing to boost operational efficiency. 

“Granite Partners is a private investment and holding company with 10 businesses across different industries. We develop, source, market, and service many products and services which means we need a sales and engineering process that is flexible, robust, and automated,” says Rick Bauerly, founder and CEO, Granite Partners. 

“With NetSuite CPQ, we see how our community of companies can better serve customers while also providing a great experience for team members. It allows us to connect our front-end processes to product manufacturing and service fulfillment all the way through to the back end. Ultimately, it increases velocity, profitability, and value creation for all stakeholders.” 

CPQ offers capabilities such as finding the exact products and services needed from the SKUs by providing an eCommerce-like catalogue experience and filtering tools, creating accurate and branded proposes with customisable templates, product configuration, access pricing, products, and quotes.  

“Transform the quoting process from a manual, time consuming endeavor to a single-click, immediately-transactional, ecommerce-like experience. The Live Quotes feature gives salespeople the ability to deliver interactive emails with quotes that end customers can interact with, acknowledging that they want to move the quote to an order and delivering that message to the sales rep in NetSuite CRM,” says Oracle.  

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