What does configure price quote mean?
A configure price quote, or CPQ, tool enables companies and their partners to produce accurate and personalized pricing quotes that make the sales process faster and more efficient.
Here’s a breakdown of how it works:
- Configure: CPQ tools allow you to easily tailor pricing for a product based on a customer’s needs. For instance, you could customize the features, user seats, add-ons, or subscription duration to meet the client’s requirements.
- Price: Once the configuration is set, the CPQ tool automatically calculates an updated price. It can also take into account factors like discounts, customization costs, additional setup fees, and any special pricing agreements you have with certain partners or customers.
- Quote: Finally, the tool generates a detailed quote that can be sent directly to the customer or your channel partner. The quote will accurately reflect the customized solution and its pricing, eliminating any chances of manual errors.
A CPQ tool can streamline your sales process, reduce errors, and help you and your partners respond to customer inquiries with speed and accuracy.