The ultimate guide to configure, price, quote (CPQ) tools 

If your business has any measure of complexity, such as complicated offerings, then your team is likely facing a number of challenges and missed revenue opportunities. Take a step back and get a step ahead with the right configure, price, quote (CPQ) tool for your business.  

Configure complex offerings 

A well-structured CPQ strategy ensures a more connected revenue lifecycle by allowing you to successfully create accurate pricing configurations, options, and guided selling rules. Utilize a centralized repository to manage all product, pricing, packages, and promotions logic in a central system that is accessible, accurate, and trusted by all teams. 

With Conga CPQ, sales reps can quote complex products and services fast and accurately. They will ultimately close bigger deals at a higher win rate which will directly impact the companies’ revenue growth rates.  

By bringing CPQ into an integrated revenue-generation process, businesses can easily connect previously disjointed departments and systems, providing the ultimate user experience.  

Conga CPQ allows businesses to master their entire revenue-generation process to sell more intelligently, drive revenue more effectively, and outsell competitors more frequently. 

Streamline inefficient, manual processes 

If your business is relying on manual processes to get complex quotes to prospects, you’re likely experiencing some of these acute pains:    

• Incorrect order configurations because teams don’t know the correct options    
• Your product experts get called into more deals to create accurate configurations than they have time for 
• Data in multiple systems results in slower response times as well as incorrect quoting and product configurations    
• Your quotes take too long to get out the door and contain many errors 
• Managers become bottlenecks for approvals     

Inefficient manual sales processes delay quoting and ultimately cost extra in fulfillment, leading to dissatisfied customers.  

As the way people are buying evolves, the way you sell needs to adapt. Customers want speed. Taking too long to create complex quotes can greatly impact your win rate and sales reps’ quota success.    

Connect a disconnected revenue lifecycle 

For many, the revenue lifecycle operations process is disconnected and fragmented. Many companies and organizations are using multiple products and solutions, which creates a multitude of business and customer challenges including poor customer experiences, compliance issues, lack of consistency, unpredictable revenue and so much more. 

The solution: configure, price, quote (CPQ)  

What is CPQ? For forward-thinking organizations with complex products, complicated pricing, and manual processes, CPQ can be a meaningful change.    

CPQ delivers increased sales and improved margins by automating the selling of complex products and services, which enables a more efficient and profitable sales process. CPQ enforces processes that mimic the actions of an organization’s best sales reps, driving faster and more accurate quotes at the optimal price.    

CPQ picks up where CRM left off by making your complex product, pricing, and business rules available to sales reps and partners in real time. As a result, they always have access to the information, guidance, and tools they need to configure, price, and quote every opportunity quickly and accurately.    

The benefits of a CPQ tool 

With the right CPQ solution, users get a sophisticated pricing engine to define multiple price types (one-time, recurring, contracted pricing, cancellation, etc.) for any product. Dimensional or formula pricing can also be defined based on quantity, customer rating, region, etc. Pricing discounts can be tailored based on company goals and suggested discounting can be provided and enforced to meet those goals.    

With CPQ, organizations can provide faster, more accurate quotes to prospects, providing a better buying experience for both the buyer and the seller regardless of the selling channel.    

CPQ is foundational to predictive revenue models. It creates a repository of configurations and discounts that can be tied to deal attributes, like competitors, segments, industry, deal size, and win/loss data. 

By eliminating complex processes and driving better selling behaviors, CPQ allows sales reps to generate complex quotes faster and with improved accuracy, leading to bigger deals at a higher win rate.    

Get started crushing complexities and generating accurate quotes faster with Conga CPQ.