A Quick Guide to Configure, Price and Quote Systems For Business Owners

When you are ordering new cars for your business or aiming to order some technology from overseas to sell, you may have noted that these items have multiple configuration options. 

This means that they can all be customized (usually with ease) to meet the needs of your customers. However, if you are adapting a car for a customer who has reduced mobility, how exactly do you price it accurately?

This is where a configure, price, and quote (CPQ) system comes into play. It removes all the head-scratching and allows you to price an item accurately. Here, you will be guided through what you need to know about these systems.

Prices Can Be Customized

When looking into CPQ software, it should be noted that a core benefit of a CPQ solution for your business is that it allows you to add customization based on the customer’s needs. Going back to the example of the car for someone who has reduced movement, a CPQ system will be able to add up the cost of any modifications you make and use bundling options and price variations to determine the final cost of the item. 

It’s Automated! 

These systems are also designed to be fully automated, removing the likelihood of human error when it comes to quoting sales prices. You should, of course, evaluate the system’s ability to generate the pricing that you need, which may vary based on any promotions, discounts, or, if you sell internationally, currency conversions. It is also worth looking into the likelihood that these systems can be synched with pricing algorithms that also update automatically to keep everything that you sell at market level.

They Integrate 

As mentioned in the last point, you will want to ensure that the CPQ system you choose can integrate with any current systems you have in place. Luckily, the majority of them are designed to be fully integrated with customer relationship management (CRM) and enterprise resource planning (ERP) systems. This will enable you to look through data exchanges, look at prices across the board, quotes, and invoices without needing to use separate systems. The outcome? Better sales decisions for you and better prices for your customers.

Analytics

You will obviously want as many systems as you can get which are able to track sales performance and a CPQ system can help in this area. Advanced CPQ systems provide analytics that can track sales, as well as quote trends and even spot opportunities for optimizing products or services. How does it do this? By looking at customer behavior and monitoring key metrics and performance indicators, such as sales of set items.

They Are Easy To Use!

Best of all, all CPQ systems have user-friendly interfaces for business owners. You won’t need to spend a fortune training your staff how to use them, meaning that they can be used in the office, the shop front or out and about when meeting clients. 

This can help any sales reps who have access to product information on the go and have it ready in a format to show to potential customers. Perfect!