CPQ prediction server

Understanding CPQ Predictions: A Comprehensive Guide

Learn how CPQ Predictions will improve the sales process leveraging Tacton CPQ as the backbone.

Introduction to Prediction Server

Predicting sales outcomes is essential for a successful business strategy, but traditional methods often fall short. Enter the Prediction Server, an innovative solution that integrates seamlessly with Tacton CPQ to provide data-driven sales predictions. This guide from cpq.se introduces you to the benefits and functionality of the Prediction Server, equipping your business with tools to stay ahead in the competitive market.

What is the Prediction Server?

The Prediction Server is a sophisticated analytics tool designed to enhance sales strategies by accurately predicting which quotes will convert into orders. By analyzing historical quote data, it offers actionable insights that help sales teams prioritize leads and optimize processes. This technology empowers businesses to make informed decisions and increase their sales efficiency.

The Role of Prediction Server in Modern Sales

The Prediction Server is more than just a technological advancement; it’s a strategic enhancement to the sales process. By providing clear predictions on quote success, it allows businesses to focus their efforts where they matter most. This not only boosts efficiency but also increases the likelihood of successful sales outcomes, making it an invaluable asset in today’s data-driven landscape.

Key Features of Prediction Server

Seamless Integration: Easily connects with Tacton CPQ for a unified and efficient experience.
Advanced Machine Learning: Utilizes tailored machine learning analyze and predict sales outcomes with high accuracy.
Real-Time Insights: Offers immediate predictions to help prioritize high-potential leads and streamline decision-making.
Data-Driven Sales Strategies: Guides your team with precise, actionable insights for better sales performance.

Benefits of Prediction Server

Integrating the Prediction Server with Tacton CPQ transforms your sales strategy, offering several distinct advantages. This powerful combination not only streamlines your sales process but also provides valuable insights into customer behavior, helping you make more informed decisions.

Increased Conversion Rates: Target the leads with the highest potential to convert. By identifying these opportunities, you can focus your resources effectively, resulting in more closed deals and increased revenue.
Improved Sales Efficiency: Automate the management of quotes and lead prioritization. The Prediction Server reduces manual effort, allowing your sales team to spend more time engaging with prospects and less time on administrative tasks.
Accurate Sales Forecasting: Gain access to precise sales predictions that guide strategic planning and resource allocation. This ensures that your sales team can anticipate market demands and align their efforts accordingly.
Scalability and Flexibility: As your business grows, the Prediction Server adapts seamlessly, managing increased data volume without compromising performance. It’s designed to scale with your operations, providing consistent results no matter how large your dataset becomes.
Data-Driven Workflows: Implement differentiated CPQ workflows based on the likelihood of closing a deal. This allows you to tailor your sales process to each opportunity, optimizing your approach to maximize success.

Prediction Server as an Add-On from cpq.se

At cpq.se, the Prediction Server is available as a powerful enhancement to Tacton CPQ. Our integration combines Tacton's strong configuration capabilities with the cutting-edge analytics. This ensures your business is equipped with a robust solution that anticipates and meets the demands of modern sales processes. Explore our transparent pricing for the Prediction Server and see how it can transform your sales strategy.

By choosing cpq.se you are choosing a partner committed to driving your sales success.

How we work

CPQ solutions can deliver considerable improvements to your business. Implementing CPQ involves the whole company, and to unleash the benefits of CPQ you need more than just a great software.

We have been running CPQ analysis workshops since the 2001 and we know how to prioritize to quickly get going. We will guide you to where to start, what to prioritize and what to leave for another day.

To truly leverage the full potential of this powerful technology, it's crucial to avoid common pitfalls that can hinder its effectiveness. Many companies make the mistake of treating the implementation process as a mere technological upgrade rather than a transformative shift in strategy.

At cpq.se, we recognize the importance of a well-executed prediction server setup and have developed a comprehensive approach to guide you through the process. From defining clear, forward-thinking requirements to ensuring seamless data management, our expert team is dedicated to helping you achieve success with your CPQ prediction server.

Let's explore the key mistakes to avoid and how cpq.se can provide solutions that enhance your business operations and maximize the impact of predictive analytics.

Mistake #1: Neglecting Transformative Thinking and Requirements

Implementing a CPQ prediction server is an opportunity for transformative change, not just a technology shift. Many companies fail by merely mimicking old processes without preparing specific, forward-thinking requirements that leverage the full potential of predictive analytics.

cpq.se's Approach: At cpq.se, we start each project with a comprehensive analysis workshop, focusing on understanding and redefining your business processes. This approach allows us to craft a visionary yet practical set of requirements that align with your business goals, ensuring a transformative impact on your operations and maximizing the value of the prediction server.

Mistake #2: Over-Complicating the Solution and Failing to Standardize

Over-engineering a CPQ prediction server can create inefficiencies. The aim should be to simplify and standardize processes to provide clear, actionable insights without unnecessary complexity.

cpq.se’s Simplification Strategy: Our experts at cpq.se excel at breaking down complex processes into simpler, more manageable steps. We emphasize standardization, ensuring that the prediction server is efficient, user-friendly, and tailored to your business needs, avoiding the pitfalls of over-engineering while delivering precise sales forecasts.

Mistake #3: Failing to Update Models with New Data

An effective prediction server requires continuous evolution, particularly through regular updates as new data becomes available. Without quarterly updates, your system might miss critical insights and fail to reflect current business conditions.

Quarterly Updates with cpq.se: We at cpq.se ensure that your prediction server is kept up to date with quarterly updates, incorporating new data to refine models and enhance accuracy. This iterative approach guarantees that your predictive analytics evolve with your business, providing insights that remain relevant and actionable over time.

Mistake #4: Limited Engagement Across Departments

A CPQ prediction server is most effective when all relevant departments are involved in its implementation. Failing to engage stakeholders from various business areas can lead to a misalignment of goals and a less effective system.

cpq.se’s Collaborative Approach: Our methodology includes inclusive workshops that bring together stakeholders from multiple departments. This ensures that the prediction server aligns with the diverse needs and processes of your organization, fostering collaboration and ensuring a cohesive system that benefits all areas of your business.

Mistake #5: Poor Data Management

Reliable data is the backbone of an effective CPQ prediction server. Inaccuracies or outdated information can lead to flawed forecasts and poor decision-making.

Data Integrity with cpq.se: At cpq.se, we emphasize the importance of accurate and up-to-date data management. Our team works closely with you to establish efficient data update practices using our Business Intelligence (BI) solution for reporting. This ensures that the data feeding into your prediction server is reliable and precise, leading to trustworthy insights that drive successful business outcomes.

HMF produces truck mounted cranes. Everything is produced in Aarhus in Denmark and sold in 35 countries around the world. The turnover is around 1 billion Danish crowns.

In Denmark HMF sell directly to customers, and in all other countries they work with distributors who have the exclusivity of their products.

- We work with complex products. When you buy a crane, you must make some choices. If you choose A, you will not be able to choose B.

A big challenge is that when a distributor needs to offer a crane they might make mistake, make a quote with options that are not compatible. In the worst situation a crane is offered that cannot be produced.

- That’s a big challenge, and that’s were CPQ and cpq.se was a great help for us.

Swift Lifts is a manufacturer of home elevators - lifts made especially for private homes and villas. Swift have developed a very quiet and safe elevator made to fit in any type of interior design style.

- Our customers range from elderly people with an immediate need to move easier between floors - all the way to modern families that just want home luxury and home comfort.

Today Swift is geographically represented in Asia, meaning China, Thailand and Malaysia. Swift also sell to the Middle East and in Europe.

- We mostly work with distributors but we also work with direct sales, says John Löwbäck - founders and CSO of Swift Lifts.

- Just looking at the product, I would say that our product is complicated, because there are so many combinations. If you add color, travel height and doors and all that, it quickly adds up to billions of combinations.

We have one goal

At cpq.se, our primary objective with every new customer is to get their CPQ prediction server up and running as quickly as possible.

Speed and efficiency are key to maximizing the benefits of our state-of-the-art prediction server, especially when integrated with Tacton CPQ.

Achieving this goal can be challenging, given the multitude of configuration options available within a CPQ system. Determining which features to prioritize and which enhancements can be deferred for future updates requires careful planning. That’s why we focus on a streamlined approach, ensuring that your CPQ prediction server delivers immediate value.

We transition swiftly from discussion to implementation, emphasizing practical steps to get your prediction server operational. Our aim is to answer the critical question: What is truly necessary to go live and how can we optimize the existing functionality within your CPQ setup?

Prediction Server

Once we have a clear roadmap for your CPQ prediction server project, we can set a firm date to go live with the first version of your CPQ prediction server.

Our structured approach ensures a smooth transition, allowing you to reap the benefits of predictive analytics in your sales processes.

Efficient Implementation

- Project Kick-Off (Jan 7, 2024): Start implementing your CPQ prediction server, setting up the Tacton CPQ system's core functionalities to meet your business requirements.

- Initial Launch (Mar 10, 2024): First users access the system, featuring an online CAD tool for accurate product configuration and sales quotes.

- Official Go-Live (May 12, 2024): Full operation of the CPQ prediction server with predictive analytics to optimize sales processes, prioritize leads, and improve conversion rates.

CPQ Prediction Server - cpq.se