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Products, and the configuration of them, are at the very essence of a CPQ set-up. It’s the Configure part of the name, after all. At the very start. But what exactly do we mean by it?
Well, imagine you are buying a new car. As a customer, you don’t necessarily want to just be limited to the choice of ready-made cars parked in the showroom. No. The choice provided to you as a customer, to be able to customise your own pride and joy, should not be underestimated. You want to be able to choose the car’s colour, interior trim, engine size and wheel design to name just a few. This is a typical use case for CPQ.
The second letter in CPQ stands for Price. Equally important as the other two, often considered as the determining factor in closing a quote successfully into a sale. However you need to know the exact configured product in order to get the correct price.
A Quotation in CPQ is used as a representation of all products that have been selected and/or configured for a customer. Even though those products might be the most important elements in this overview, they are not the only information that are shown on a quotation.