A dropdown menu has products of interest within the CPQ solution. A configurator adds products from the dropdown, and a buttons generates the quote.

Configure, Price, Quote (CPQ) Software Explained

Janeen Marquardt, Founder, Stratus Solutions

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CPQ software FAQs

CPQ software improves the sales process by automating product configuration, pricing, and quote generation, in order to increase sales efficiency and reduce errors. It enables sales teams to quickly create accurate and personalized quotes, improving customer satisfaction and accelerating the sales cycle.

Top-rated CPQ software typically includes features such as product configuration, pricing management, quote generation, integration with CRM and ERP systems, and rule-based logic to ensure accurate and compliant quotes. Additional features may include product catalog management, guided selling, bundling, and discount controls.

To choose the best CPQ software for your business, consider factors such as your company's size and complexity, features like product configuration and pricing management, integration with existing CRM or ERPs, and future scalability. As with any software purchase, evaluate options through demos, trials, and customer reviews to find the best fit.

Many CPQ systems can be integrated with CRM platforms. One of the most common integration types is an API (application programming interface) that allows the tools to send customer and sales data back and forth. The ability to integrate depends on the specific tools you use, however, so be sure to check with provider/manufacturer to see what integrations are possible.

The benefits of CPQ software include improved sales efficiency, reduced errors, and enhanced customer satisfaction through accurate and personalized quotes. Other benefits might include multi-currency and subscription pricing support, and CRM/ERP integration for data accuracy, streamlining the sales process and increasing revenue through faster sales cycles.

CPQ software is used in most industries, including manufacturing, technology, telecommunications, and finance. CPQ software is relevant for any business with complex product offerings and pricing structures, as it enables them to streamline their sales processes.

Generally, yes, CPQ software can integrate with other systems, including CRM, ERP, and billing systems. However, this depends on the specific software you're using. Be sure to check with provider/manufacturer to see what integrations are possible. 

Writers were aided by AI to draft these FAQ questions