What is CPQ software?

CPQ software helps businesses manage the complex pricing of their products and services. This technology helps sales organizations configure product offerings, set up pricing rules and discounts, and generate error-free quotes and professional proposals customized to buyers’ needs. This type of software is often used by companies that sell customized or made-to-order products, as it can help simplify the quoting and pricing process. CPQ software can also be used to streamline order management and help ensure accuracy and compliance with pricing rules. When configuring products and services, CPQ software provides users with a graphical interface that allows them to easily select the options and variations they desire. The CPQ software then calculates the appropriate pricing based on the options selected. This can help save time and reduce errors when creating quotes and orders. CPQ software can also help manage discounts and promotions, as well as create pricing reports. This type of software can be used by businesses of all sizes, but is often essential for companies that sell complex products or services. CPQ software can help make the quoting and ordering process more efficient and accurate, leading to happier customers and increased sales. CPQ streamlines the sales process, reduces administrative tasks, and ensures the delivery of accurate quotes to buyers, which enhances the customer experience. Some advanced CPQ software solutions also track buyer engagement with the quote, monitor deal progress, and provide analytics on the sales process. Configure Configuration ensures that products are available, meet buyer specs, and arrive within accepted terms. Price Price management allows sales people to choose between product options, packages, and services, and offer approved discounts. Quote The quote generation process ensures that all collateral included in the quote is legal, on-brand, and compliant.