What is CPQ?

What is CPQ?

Customers are increasingly demanding customized products on faster timelines. Make sure you’re equipped to handle these new expectations.

What Is CPQ

CPQ stands for: Configure Price Quote

What Is CPQ Software?

What is CPQ software? CPQ software aims to reduce inefficiencies in the sales process and minimize errors and mistakes in quoting customers with complex product needs.

Why CPQ?

Why CPQ? It’s the quickest and easiest way to configure, visualize, price, and buy complex products within minutes.

Let’s dig into how CPQ software works…

What Is CPQ Software And How it Configures
1. Configure

Customers are able to configure your product based on their requirements from aywhere: your website, with a sales rep or with your dealers. Since your product rules are guiding the configuration process, anything that is configured can be manufactured. This leads to a streamlined and error-free sales and manufacturing process.

What Is CPQ Software And How it Prices
2. Price

As the customer configures the product, the pricing is updated dynamically and accurately based on your company’s pricing rules. This allows them to change their requirements in order to stay within their ideal price.

What Is CPQ Software And How it Quotes
3. Quote

With just a few clicks, a sales rep can create a professionally branded quote and send it in an email. A CPQ platform automatically pulls in the configured products and pricing, tying the whole process together to ensure consistency.

Featured Resource

Benefits of Visual CPQ

Product variation compounded by the complexity of multiple pricing models can create confusion and inefficiency among your organization’s engineering, manufacturing, and sales teams. In this four-part guide, we’ll uncover how to address challenges like these in your sales to manufacturing processes by using CPQ software.

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Visual CPQ Benefits

Visual CPQ fills a need for both companies and customers.

Better control.

82% of B2B customers demand customized products.

More margin.

Manufacturers using old sales tools have 5-10% less profit margin than competitors using CPQ.

Greater growth.

Companies using CPQ outperform competitors by a 2-to-1 ratio in revenue growth.

See how it works for our customer, Tuff Shed.

Step 1:

Product Configuration

Customer configures a shed based on their requirements on website, in Home Depot or with a Tuff Shed inside sales representative.
Why CPQ And How It Works
Step 2:

Quote Generation

The Tuff Shed quote comes in as a lead into Salesforce for reps to work with or convert to an order.
What Is CPQ ERP Integration
Step 3:

Quote Change Management

Customer configures a shed based on their requirements on website, in Home Depot or with a Tuff Shed inside sales representative.
What Is CPQ Quote Change Management
Step 4:

Order Negotiation

Sales reps can control and discount a sale on an as-needed or ad hoc basis - according to limits and rules controlled by approvals.
What Is CPQ Order Negotiation
Step 5:

Order Conversion

Once ready, the Tuff Shed sales person converts the quote to an order in Salesforce CPQ.
What Is CPQ Order Conversion
Step 6:

ERP Integration

The order record is automatically entered into the ERP where inventory, sales, taxes, and more can be tracked.
What Is CPQ ERP Integration
Step 7:

CAD & Production

Renderings and CAD drawings are automatically generated from the order and sent to engineering for production.
What Is CPQ CAD And Production

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