CPQ stands for Configure Price Quote
Configure: Provides end-user (consumer) a convenient way to configure the product they aim to buy. In this context for example a consumer configures a quad-play bundle. Beside the improved conversion rate it guarantees a valid order. This is even more important when we talk about complex B2B orders, like a complex network topology order.
Price: Provides price book, price rules and entitlements to provide the right price for the right customer. The opposite of one price fits all, as widely used in B2C. Again especially in B2B world this requires a flexible tool to increase sales and protect margin.
Quote: Used in direct sales for B2C and B2B business to provide a unique offer to the consumer or B2B customer. With manual discounts and dedicated proposals. Approval workflows as used to control the discount limits a seller can operate in.
Configure is typically embedded into a existing sales portal. Pricing is a back-end functionality, used by configure and the sales-portal. Quote again is typically linked and/or embedded with a CRM system. It uses configure and pricing. Direct seller use it on a Mobile/Tablet to configure, approve and generate proposals while on customer site. Hence improve opportunity to order sales cycle. CPQ needs to come along with a product catalog or to be integrated into a existing catalog.
As an example of a CPQ solution, our IBM solution is described here:
https://www.ibm.com/support/knowledgecenter/SS4QMC &
https://www.ibm.com/products/configure-price-quote------------------------------
Werner Trapp
IBM Corporation
------------------------------
Original Message:
Sent: May 22, 2020 05:53
From: Asha Kandasamy
Subject: CPQ Functionality
Anyone has documents or reference pertaining to CPQ. Appreciate if you could share them. Thanks
#TMForumGeneral