CPQ – Configure, price, quote What is it?
CPQ software is quickly gaining traction in the business world as it illuminates fair prices for products. CPQ is used to help companies to keep prices in line with the current conditions. At its core, CPQ software deals with the three core operations “Configure, Price, Quote” for controlling the prices of a company’s product.
C for Configure
People have become accustomed to customizing things to their specific needs. For example, music playlists, clothing, food options, etc. So, if you are a B2B seller, it is becoming increasingly important to customize your solutions to your client’s specifications; otherwise, there is a competitor that will. The solution for addressing this issue is by creating a unique combination of products and services based on your client’s needs.
P for price
It can be embarrassing to misquote a price to your customer, costing you a bad reputation, or causing you to lose the deal. Few companies tend to sell the products at list price, you may apply discounts, special pricing, or offers to close the deal but keeping the track of prices, discounts, and bundle pricing can be a daunting task. CPQ helps in managing the prices, keeping them accurate, and optimizing them for the products and services a company is offering.
Q for Quote
The quote is the proposal to close the deal. This is a task that takes effort because it includes the reputation of the company, it should be well presented, and crafted in a professional manner. With CPQ software and a few clicks, you can create a quote and send it via email. It removes the time-consuming process which is manually pulling the right prices, and configuring services/products for a proper quote.
For a company sales, staff CPQ does it all, starting from configuration and pricing, and making a proper quote for the customers. Making the whole process seamless without any hassle. CPQ software features easy interfaces, cloud-based hosting, proper handling, and data storage. It’s time to configure your company with the CPQ system for a better quoting experience.