CPQ software (configure price quote software)

CPQ (configure, price, quote) is programming that helps sales representatives and self-service customers quickly generate accurate quotes for configurable products and services.

CPQ software is typically used to generate quotes for products and services that have a lot of feature options. The software is rules-based and can be customized to address multiple variables that will affect profit margins.

Key features of CPQ software include:

  • The ability to create a bill of materials or service level agreement (SLA) based on a particular customer's configuration choices.
  • The ability to quickly adjust a quote in response to a change request.
  • The inclusion of templates that can be used to digitally generate proposal documents and contracts.

As companies grow, it can become increasingly difficult to manage product pricing. Configuring a quote can be a time-consuming task, especially when there are a lot of variables for a product or service. CPQ software is often an add-on to CRM platforms and operates alongside traditional CRM tabs such as sales forecasts and inventory.

See also: dyamic pricing

This was last updated in November 2015

Continue Reading About CPQ software (configure price quote software)

Dig Deeper on Marketing and sales

Content Management
Unified Communications
Data Management
Enterprise AI