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What is CPQ?

May 19, 2015

Another acronym.

In the Software Development world, CPQ stands for Configure/ Price/ Quote.

For industries such as the IT Channel where Manufacturers, Distributors and Resellers have a set of complex products that can be built to customer requirements, a CPQ tool is revolutionary. A user of the tool can select their system, configure it with built-in validation rules for accuracy, check price and stock and quote their customer in record time.

Here are just some of the benefits of introducing a CPQ into your business:

  • Consistent approach to configuring and quoting so staff and customers have set expectations.
  • Improved accuracy – quote it Right, First Time!
  • Improved Security – Less risk of losing data as quotes are stored in the cloud.
  • Improved product information.
  • Instant growth in the number of quotations.
  • Reduced overheads.
  • Faster quote turnaround time.
  • Ability to quote anywhere either through your browser or a Smartphone App.
  • Increase in revenue!

A good example of a CPQ is iQuote which is developed for Hewlett Packard by channelcentral. It contains the entire HP Product Portfolio and is set-up as a fully managed service; or to introduce another acronym, SAAS (Software-as-a-Service). Take a look at iQuote in action for a great example of a CPQ!

If you would like to talk to channelcentral about developing a bespoke CPQ service for your business or just to ask how it may work in your business environment, contact us.

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