Configure Price Quote (CPQ) is a sales tool that is designed to streamline the sales process for Engineer-to-Order (ETO) and Configure-to-Order (CTO) products and services. With CPQ, sales representatives can quickly configure, price and quote custom products and services to their customers, without having to spend a lot of time on manual calculations and product configurations.
In this blog, we’ll discuss some of the actual tangible benefits that organizations can achieve by using CPQ for ETO and CTO products and services:
1. Increased Sales Efficiency: CPQ automates the entire sales process, reducing manual errors and increasing the speed at which quotes are generated. Sales representatives can quickly configure custom products, price them, and generate quotes, all within a single platform. This increases sales efficiency and helps sales reps close deals faster.
2. Improved Accuracy: CPQ eliminates manual calculations and reduces the risk of human error. Quotes generated by CPQ are accurate and consistent, ensuring that customers receive consistent pricing and product configurations.
3. Increased Customer Satisfaction: With CPQ, customers receive accurate and consistent quotes, which can increase customer satisfaction. Additionally, CPQ makes it easier for sales representatives to provide customized solutions to their customers, helping to build stronger relationships with them.
4. Better Collaboration: CPQ can be integrated with other systems, such as CRM and ERP, allowing for better collaboration between sales and other departments. This can improve communication and ensure that everyone has access to the same information, reducing the risk of mistakes.
5. Increased Revenues: By automating the sales process and reducing errors, organizations can close deals faster and increase their overall revenues. Additionally, CPQ can help sales representatives upsell and cross-sell to their customers, which can also increase revenues.
In conclusion, CPQ is a powerful tool that can help organizations achieve significant benefits when selling ETO and CTO products and services. With CPQ, sales representatives can quickly and accurately configure custom products, generate accurate quotes, and close deals faster, all while improving customer satisfaction and increasing revenues.