CPQ, Configure-Price-Quote, is software that automates pricing and proposal generation of complex, variable offerings. CPQ tools help reduce average sales time and increase average deal size, boosting ROI.
C - Configure: Reps and customers identify, choose, and combine components of complex products/services according to rules and limitations. This eliminates errors like combining the wrong elements.
P - Price: Complex pricing models can be difficult to navigate manually. CPQ eliminates pricing errors and presents sales reps and customers appropriate upsells and cross-sells, which helps increase order size.
Q - Quote: The CPQ automatically generates error-free proposals and quotes, which saves time compared to manual quote preparation, and eliminates the human error factor.