What is CPQ software for manufacturing?
CPQ software for manufacturing is a tool that streamlines the process of generating detailed quotes for manufacturing customers. This software is particularly valuable for manufacturers dealing with intricate, customizable, or engineer-to-order products and a network of resellers and distributors selling them.
Here’s how it works:
- Configuration: Manufacturers often offer a range of product options, features, and variations. CPQ software allows their indirect and indirect sales teams to easily configure a product by selecting components, features, and specifications.
- Pricing: CPQ software calculates pricing based on the configured product, taking into account factors like material costs, labor, overhead, and any discounts or promotions. It provides real-time, accurate pricing information, reducing the risk of pricing errors. It allows resellers and other partners to get pricing on-demand.
- Quoting: Once the product is configured and priced, CPQ software generates professional and customizable quotes or proposals. These documents include detailed product specifications, pricing breakdowns, delivery schedules, and terms and conditions. They can be sent to customers or partners in various formats, such as PDFs or interactive web pages.
CPQ software for manufacturing simplifies the sales process by providing your indirect and direct sales teams with tools to quickly configure and quote products. This accelerates your sales cycles, reduces administrative overhead, and enhances the overall customer experience.