Configure, Price, Quote (CPQ)
Configure, Price, Quote (CPQ)
Updated on May 15, 2023
Published on Jan 19, 2023
1 minute(s) read
CPQ stands for C onfigure, P rice (and) Q uote. CPQ software is an application that utilize these three functions:
- Configure: Software that allows users to specify complicated product options, either for a single product (for example, a car that has multiple engines and models) or a series of products (for example, a computer that is sold to customers with their choice of packages that includes years of technical support, cloud backup storage, and product warranty).
- Price: Complicated product options requires detailed pricing structures that can easily adapt to the customer needs.
- Quote: Once the order or proposal is configured, the user must be able to send a detailed, error-free quote to their customers for review and sign-off.
In today's world, CPQ software, such as Mobileforce CPQ, is frequently paired with existing CRM platforms to help ensure integrity of common information between the applications. Rapid ROI for sales teams, achieving revenue growth with product and service configuration, pricing, quoting, approvals, and contracts.