Exploring HubSpot's New AI-Powered CPQ Features

Discover the Transformative Capabilities of HubSpot's Latest AI-Enhanced CPQ Features

HubSpot has recently introduced new AI-powered Configure Price Quote (CPQ) features, transforming the way businesses manage their quoting processes. This educational guide will help you understand these major updates and how they can streamline your sales operations. Whether you are a basic HubSpot user or a technical implementer, this guide provides practical insights and actionable steps to maximize the value of these new features in your portal.

Understanding HubSpot's AI-Powered CPQ: An Overview

HubSpot's new CPQ features are designed to simplify and expedite the quoting process. CPQ stands for Configure Price Quote, a system that simplifies the generation of quotes for orders, making it easier for sales teams to configure products, apply pricing rules, and generate accurate quotes quickly. By integrating AI into the CPQ process, HubSpot aims to minimize manual errors, reduce the time spent on quoting, and enhance the overall efficiency of sales operations.

The Evolution of CPQ: From Manufacturing to Modern Sales

Initially, CPQ systems were developed for manufacturing and telecommunications industries, where creating accurate quotes manually was nearly impossible due to complex configurations and pricing rules. Over time, the demand for CPQ systems extended to other sectors, leading to the development of more accessible solutions. HubSpot's new AI-powered CPQ represents the latest evolution, bringing advanced capabilities to a broader range of businesses and simplifying the quoting process for modern sales teams.

Simplifying Quoting: Key Features of HubSpot's New CPQ

HubSpot's AI-powered CPQ introduces several key features that simplify the quoting process:

1. Enhanced User Interface: The interface is designed to be intuitive, making it easy for users to navigate and create quotes quickly.
2. AI-Driven Recommendations: AI provides contextual recommendations for upsells and cross-sells based on historical data and customer interactions.
3. Customization and Flexibility: Users can customize quotes with personalized sections, snippets, and tokens to meet specific needs.
4. Seamless Integration: The CPQ integrates seamlessly with other HubSpot tools, ensuring a smooth workflow across sales and marketing functions.

Practical Examples: Real-World Scenarios from the Unboxing Video

During the "Let's Unbox HubSpot" video session, several practical examples demonstrated the new CPQ features in action:

• Real-Time Quote Creation: See how to create a quote in real-time, highlighting the ease of adding products, customizing descriptions, and applying discounts.
• AI-Assisted Editing: The AI-assisted editing feature was demonstrated, where Breeze Assistant helped modify line items and descriptions based on contextual data.
• Template Utilization: The session showed how to use templates to standardize quotes and ensure consistency across the sales team.

Expert Insights: Key Takeaways from Ethan and Bill

Ethan and Bill provided valuable insights into the new CPQ features:

• Simplicity and Ease of Use: Ethan emphasized that HubSpot's CPQ is designed to be easy to use and set up, reducing the total cost of ownership.
• AI Integration: Bill highlighted the importance of AI in accelerating the quoting process and ensuring accuracy, particularly for teams with complex product offerings.
• Flexibility and Customization: Both experts discussed the flexibility of the CPQ system, enabling users to create custom templates and sections tailored to their specific needs.

Why These Features Matter: Benefits for Different User Types

HubSpot's new CPQ features offer significant benefits for different user types:

• Sales Teams: The simplified and AI-driven quoting process allows sales teams to create quotes faster, reducing the time spent on administrative tasks and increasing productivity.
• Sales Managers: The ability to customize and standardize quotes ensures consistency and accuracy, making it easier to manage and oversee the quoting process.
• Technical Implementers: The seamless integration with other HubSpot tools and the flexible customization options provide technical implementers with the tools they need to optimize the quoting process for their organization.

Getting Started: Actionable Steps to Implement AI-Powered CPQ in Your Portal

To start using HubSpot's new AI-powered CPQ features, follow these actionable steps:

1. Assign Commerce Hub Seats: Ensure that your team members have access to Commerce Hub seats to use the new quoting experience.
2. Set Up Product Library: Populate your product library with all the products and services you offer, including descriptions, prices, and configurations.
3. Create Custom Templates: Develop templates for different types of quotes to standardize the process and ensure consistency.
4. Leverage Breeze Assistant: Use Breeze Assistant to automate and optimize the quoting process, making use of AI-driven recommendations and contextual assistance.
5. Train Your Team: Provide training to your sales team on how to use the new CPQ features effectively, including how to create and customize quotes, use templates, and leverage AI assistance.

By following these steps, you can take full advantage of HubSpot's new AI-powered CPQ features to streamline your quoting process, improve accuracy, and enhance the efficiency of your sales operations.