All You Need to Know About CPQ Tools

You might have heard many businesspersons talking about project cost estimating tools, software, or, more precisely, CPQ tools! Yes, they consider these tools to be the backbone of sales. But you are clueless, aren’t you? CPQ software is for the businesses who look to haul their business levels on the peak! Well, you too have given thought to taking your business to rank, we assume! Good thought, though! This advanced tool has the virtue of taking your small inactive sales and your business to the next step, that too with accuracy and quickly! 

Undoubtedly, by implementing CPQ, you will see a whole new level of speed and efficiency in your sales, with excessive productivity.

Let’s split up CPQ tools for you…

CPQ: Configure, Price, Quote, i.e., a tool/software used to produce quotes in the business. And here's the whole idea of CPQ:

Configure


Many businesses deal in mass production or repetitive manufacturing – where a product with no variations is made, stocked, picked, and shipped to complete the order. But, clients want bespoke products according to their specific needs and desires, that too in no time. 

No doubt, customization at a low level can be easy. But when it comes to "mass customization, you, as a businessperson, might be worn out! Businesses do offer customized solutions, services, and products, but may take time.  


CPQ Tools



The configuration in CPQ basically refers to configuring your products. This software helps configure complex product offerings that hold the customer's needs. Above all, the CPQ tools can see upsell and cross-sell chances that the human eye can’t. The software configures and removes all risks of human error and provides you more time to make sales. Moreover, create connections with potential clients and eventually grow your business.

Price


If you offer your products in standard configurations with little variability, pricing might be somewhat concise. But, when you provide extensive configuration to your products, you need accuracy before generating quotes. Pricing in CPQ ensures accurate prices according to market segment topography. Pricing can be based on the Bill Of Materials (BOM), production costs, components, and options. So, manual tracking of all these components might not be a good idea. That's when your business needs software to keep track of all of your pricing structures to ensure accurate quotes.

Quote

CPQ software creates personalized quotes for clients. Vast configuration options and accurate pricing work together to allow you to generate a quote for your client's order. Moreover, it helps the quick review of the quote before sending it to the client. It also allows you to make changes last minute if required. CPQ software features visualization that allows clients to see 2D and 3D representations of the product. This way, they get a better revision of what they have ordered or will get from you. You are satisfied, your client is satisfied, that way everyone wins!

Quote


CPQ tools create personalized quotes for clients. Vast configuration options and accurate pricing work together to allow you to generate a quote for your client's order. Moreover, it helps the quick review of the quote before sending it to the client. It also allows you to make changes last minute if required. CPQ software features visualization that allows clients to see 2D and 3D representations of the product. This way, they get a better revision of what they have ordered or will get from you. You are satisfied, your client is satisfied, that way everyone wins! 


Straightforward, sit back, and let QDV provide project cost estimating tools!

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