CPQ
Definition, functions and benefits at a glance
CPQ stands for:
- Configure (product configuration)
- Price (price determination)
- Quote (quotation documents)
CPQ software (Configure Price Quote) accelerates, simplifies and optimises the entire quotation and sales process. In addition, a CPQ solution supports needs analysis, visual configuration, the approval process and contract generation.
Central functions of CPQ software:
- Guided Selling: Identify the best solutions for the customer's requirements through rule-based product configuration.
- Correct sales prices: Sales prices are calculated based on price lists or a manufacturing cost calculation.
- B2B online sales: Customers and distributors initiate the order process via the Internet.
- Visual configuration: The prospective customer experiences how his individual product takes shape.
- Customer journey: CPQ software adapts the level of detail of product and offer information to the customer's information needs.
- Simplified approval: Automated workflows shorten coordination and approval processes.
Benefits of CPQ solutions:
- Satisfied Customers: User experience convinces the customer in the early quotation process.
- Error-free offers: Plausibility and completeness checks only allow technically possible product variants.
- Efficient sales processes: Product knowledge is available centrally. Complete offers are created automatically.
- Turnover & profit: Efficiency in the sales process, a streamlined range of variants and optimal pricing increase turnover and profit.
- Optimisation of end-to-end processes: CPQ creates transparency and facilitates cross-divisional and cross-functional collaboration.
CPQ in corporate practice (use cases):
maxon motor - CPQ as a web configurator
Liebherr - Online configuration leads to B2B leads
NKT - CPQ for a globally harmonised quotation process
CPQ solution for complex and multi-variant products:
camos CPQ was developed for medium-sized and large companies that sell complex and variant-rich products - for example the mechanical & plant engineering industry. Companies that want to sell consultation-intensive products on the internet also benefit from the solution.
