When people investigate guided selling, they often ask, “What is CPQ software?” The experts at RenaissanceTech are here to encourage you to achieve a better understanding of this platform and how it can help your manufacturing business reach its goals.

The abbreviation “CPQ” stands for “Configure, Price, Quote.” CPQ allows you to create a structured, scalable sales process through guided selling and configuration.

what is CPQ

So Why Is CPQ Important? Here Are Just 4 Examples

By incorporating CPQ guided selling into your processes, you are able to accomplish the following:

  • Efficiency – Help your sales reps and dealer network quote and close deals faster by eliminating disparate systems and removing siloed information. Automate approvals and create or maintain your workflows. Even the most complex quotes are easily managed with CPQ guided selling.
  • Control – Use a guided sales CPQ to control what’s being offered and what’s being sold. Eliminate pricing, costing, and inventory errors. Your sales reps can become product experts in minutes by capitalizing on guided selling tools that only allow for approved configurations.
  • Innovation – Using our guided sales CPQ means that you can create product specs with a simple click. This allows your engineers, dealers, and sales teams to get creative and innovative, producing new product lines that differ from what is already available on the market. You can also use a CPQ to wow your customers with precisely customized deliverables, ensuring they are produced exactly as they were ordered.
  • Competitive edge – Get to market faster than your competitors. Launch new revenue models and upsell opportunities quickly. Today’s customers demand more flexibility in what they buy and how they buy it. Enabling a scalable technology platform will support your company and in the future with advanced guided sales CPQ platforms available with Infor CPQ.

Some Additional Advantages of Using CPQ Guided Selling Software

With an advanced CPQ guided selling platform, your dealers and sales network can configure the right product offerings and generate appropriate pricing and discount structure to meet the goals of your company. You can also fully customize quotes quickly while seamlessly integrating with your existing enterprise software, resulting in more sales and satisfied customers.

Using a guided sales CPQ can also provide you with the following:

  • Higher customer satisfaction
  • Central data catalog
  • Insights from reporting
  • Lower costs and fewer errors
  • Shorter sales cycles
  • Brand consistency
  • Better sales pipeline visibility

Best yet, the benefits don’t stop there. There is an abundance of featured add-ons that can be used to create an even better user experience. Below, you will find our most in-demand product extensions for CPQ products:

  • Stitch images for CPQ configurator
  • Requested ship date blocking for sales portal 
  • Order status for sales portal
  • Multi-line configuration for Infor sales portal/Infor CPQ

Want to Know More About Our Guided Sales CPQ?

Now that you understand what CPQ is, let us help to create a streamlined vision for your sales team, giving them the resources they need to secure more orders.

We can use our expertise to help your company grow with our customizable CPQ software that is tailored to your unique needs. Request more information today!