What is CPQ (Configure, Price, Quote): Definition & Importance
What is CPQ(Configure, Price, Quote)?
A software solution that automates the process of creating quotes for products and services, considering factors like custom configurations, discounts, and pricing rules.
Key Takeaways
• Accelerates the quoting process: CPQ software automates the creation of quotes for products and services, reducing the time and effort required to generate accurate pricing information.
• Reduces errors and inconsistencies: By automating pricing rules and configurations, CPQ solutions minimize the risk of errors and inconsistencies in quotes, leading to increased customer satisfaction and trust.
• Enhances revenue management: CPQ systems enable companies to apply pricing strategies more effectively, allowing them to optimize revenue and maintain competitiveness in the market.
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