All You Need To Know About CPQ Tools

Cost estimating software is a familiar term for anyone in the construction or manufacturing business. But do you know what CPQ is?

CPQ stands for Configure, Price, and Quote, and these are highly useful for generating quotes quickly and accurately. For construction businesses, it is essential to create fast and accurate quotes. 

However, assessing prices and offering quotations quickly without CPQ software is an impossible task. Scroll down to learn more about CPQ and its benefits.

What is CPQ?

Running a construction company involves several backbreaking tasks; none of it would be complete without the help of technology. Several software and tools are present on the internet these days to help you plan your work accurately. 

CPQ is one such software; it has been used widely for configuration, pricing, and quotation for years. CPQ speeds up the sales process and delivers precise quotes; this would impress your potential clients and win you a deal.

What are the benefits of CPQ?

Is it possible to make quotes without the software?

The answer is yes! However, you should be willing to devote your time to check spreadsheets, find pricing rules, and assess costs, discounts, and offers.

It will take you days to calculate and come up with a quotation, and still, there would be a lot of errors. That's where a CPQ comes into action.

CPQ tool

An efficient CPQ tool can create a quotation quickly without any error; it considers all the prices, discounts, and rules before establishing the quote. It ensures accuracy and zero confusion between you and your clients; it lets you know all the possible offers your company can afford.

CPUs allow different office departments to collaborate for error-free and precise quotes. Various departments have to work hand in hand to develop a well-established quote, and CPQ makes it easy. This software makes sure that every team gets involved in the process and gives out the best configuration for your customers.

Picture this scenario; your sales team makes an excellent offer to your client. But it is not affordable according to your company's financial status, or the legal team cannot approve. Wouldn't that be a huge bummer? CPQ tools avoid that efficiently.

It will split the job between sales, finance, and legal and reduce the sales team's burden. The quick configuration of the tool makes the job easier and faster. And the most significant benefit is that your staff will get more time to concentrate on the project rather than the quote.

Why should you get a CPQ tool?

  • Saves money: An accurate quote will include all the expenses and ensure that the construction ends within the listed price. 

  • Saves Time: With CPQ, you don't have to present the quote and wait for its approval.

  • Spike in average selling price: CPQ does not add unwanted or unaffordable discounts while making quotes, increasing the average selling price.

  • Correct configurations: CPQ works according to the pre-set rules, ensuring that it will make no errors in the configuration. 

 Find the best CPQ!

There are several CPQ tools available on the internet, and you need the most efficient one for the success of your business. QDV is the most trusted cost estimating software by construction companies; it gives exact configuration and quick quotes.

Visit their page to get the best cost estimating software for your business.

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