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How does CPQ work?

September 24, 2021

Configure Price Quote (CPQ) is the standard process of helping a customer go from approximate requirements to “ready to purchase” as efficiently as possible.

Earlier this year, Forrester stated that with the rise in omnichannel sales and proliferation or Everything as a Service (XaaS), the CPQ category is experiencing a renaissance. Forrester notes that customers use CPQ technologies to self-educate, and sales reps rely on CPQ to compress cycles and increase order value and margin growth.1

The configuration element shows users compatible products and respects the rules of the system. These validation rules could be counting slots or bays to ensure a product is a workable solution on delivery. channelcentral’s configurator includes elements of demand shaping and shows available local inventory.

A CPQ tool shows the actual buy price but also factors in local promotions and incentives. Allowing users to add margin is also very important. channelcentral helps to instigate promotional pricing through to assisting with rebate claims

Users can export a quote to Excel, Google Docs, CSV, custom XML, Email, HTML and co-brandable brochures. channelcentral supports a ‘buy now’ function placing the quote’s contents into a webstore shopping basket.

A CPQ tool increases sales and improves your customer experience.

1The Forrester Tech Tide™: Sales Technologies, Q1 2021, 15 Technologies That Underpin Sales, February 16th, 2021, Mary Shea, PhD, Principal Analyst, Caroline Robertson, Kate Leggett, Laura Ramos, Jennifer Zhang, Kara Hartig

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