What is CPQ?
CPQ, or “configure price quote”, is a software solution that enables companies and their customers to select and customize products they want to buy, view accurate, real-time pricing for every possible configuration of the product and generate a quote for the product–all from a single program/application. With full mobile functionality and industry-grade security, CPQ can be implemented as on-premise or cloud-based software/SaaS, depending on business requirements.
Why use CPQ?
Companies use CPQ software because it helps simplify and standardize their best sales process, creating a better buying experience that results in greater revenue and increased profitability.
Remove Fear, Uncertainty and Doubt from the Buying Process:
With product expertise available to your sales staff throughout the sales process, your customers are getting faster, accurate answers to their biggest questions and concerns. Guided selling ensures your customers get the right products for their needs.
Enable Engineering and Pricing Transparency:
CPQ provides real-time clarity around the product configuration process, so customers can see valid and invalid options from an engineering perspective, as well as the cost of their selections.
Ensure Fast, Accurate Fulfillment:
CPQ system integrations ensure orders enter the fulfillment process immediately, so it takes less time to place an order and get approvals, meaning customers get the product they need faster.
Increase margins, revenue and profitability, and give your sales reps the ability to hit quota. Reduced time-to-quote means your reps can sell more, faster.
Accelerate sales processes while reducing the number of people required in the sales cycle; eliminate errors and reworks associated with the order entry process.
Empower business users to safely manage product information and free IT resources for other critical projects.
Move products to market faster across all of your sales channels so you can realize revenue and ROI sooner.