Here you will get details about Configure Price Quote Solutions. CPQ software enables accurately price and quote of products across a wide spectrum. It produces quotes of highly configurable products in the best possible way.

1. Configure Price Quote
Solutions - What is CPQ?

2. If you are selling complex products,
you might know how challenging it is
to provide an accurate quote for your
customers. Managing the entire
process that involves configuration,
pricing, and quoting, is no easy. The
key to resolve this issue is to automate
this process using appropriate CPQ
software.

3. CPQ software enables companies to accurately
price and quote products across a wide spectrum
of variables. It combines all these variables to help
companies to produce quotes of highly
configurable products in the best possible way.
In the CPQ platform, all the information
associated with products, pricing, and business a
rules is centralized and available in real-time. With
critical data easily accessible in real-time, quotes
can be created quickly no matter how complex
they are.
While pricing a complex product, the CPQ
software takes into account multiple variables
including production cost, handling cost,
transportation cost, competitors' price, etc.

4. What are the Benefits of CPQ
Software?

5. 1
If you are a product-based company
engaged in complex sales, you need to
use the CPQ tool. The software tool will
allow your team to spend more on selling
and less on quoting. It automates quoting
management thereby eliminating a
majority of your manual tasks.
Using the CPQ tool, you can reduce
quoting errors significantly and focus on
closing the sale. Quoting productivity will
skyrocket allowing you to create a larger
number of quotes in less time. According
to Aberdeen group, an international
marketing group, usage of CPQ software
has shown to increase quoting
productivity by 33%.
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6. 3
Large companies that sell a range of
product configurations and bundles find it
difficult to manage product pricing,
configure and quote custom products,
leading to longer quote times. A CPQ tool
will help to resolve this issue. It will
provide product-pricing data in real-time,
dramatically cut quoting time, and
minimize errors.
Incorporating appropriate CPQ software
into your business can help to boost your
sales performance. You can expect a
higher lead conversion rate and have
larger than average deal size.
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7. 5
Various studies have shown that
Configure price quote solutions can
shorten the sales cycle. CPQ software
automates your quoting activity, which will
help to accelerate your sales process.
CPQ software can also increase the
efficiency of your sales team as the
information is available at a central
location. They don't have to juggle
between multiple systems to access
quoting-related information.
6

8. 7
As your product list grows, identifying
upsell/cross-sell opportunities can make it
difficult. CPQ software solutions
automatically suggest upsell/cross-sell
products while you are creating a quote in
real-time.
With CPQ software at your disposal, you
can close big deals faster and sell more.
Its guided selling feature ensures that you
configure quotes exactly as per your
customer needs.
8

9. What type of CPQ Software should you Use?
Traditional on-premise CPQ systems are inherently
high-cost investments. They require lengthy
installations and are difficult to maintain. You need to
install the on-premise software on your server.
Moreover, you will be responsible for its maintenance
and upgrades.
A better option is to choose a cloud-based CPQ tool in
which the software and server are hosted on the
Internet. You can easily create and send quotes from
anywhere as long as your device is connected to the
Web.
Cloud-based CPQ software offers the flexibility to
manage your quoting process anywhere anytime. The
upfront cost of any cloud-based CPQ tool is low as you
don't have to invest in infrastructure.
You have to only pay a monthly subscription fee to a
cloud service provider that handles everything from
software maintenance to support.With a cloud-based
CPQ tool, you can focus on core business processes
rather than worrying about server maintenance.

10. A cloud-based solution is mobile-friendly, meaning you
can manage your complex quoting process using
smartphones and tablets.