CPQ Software Flashcards
What is CPQ Software?
CPQ Software is a sales tool that accurately defines the price of goods across a changing spectrum of variables and generates quotes for orders.
Product configurator and catalog management module
Allows creating and customizing product configuration, creating product attributes, product catalog, product codes, and product bundles. It also offers guided selling and configuration templates for guided selling in addition to the shopping cart and product recommendations.
Price management module
Allows to create pricing of products and multiple price lists. In addition, it includes a pricing engine, a pricing waterfall chart, real-time price calculations, price recommendations, and contracted pricing. It also allows to configure discounts on products, provide price margin indication, Unit of Measurement (UOM) conversion, tax calculations, and payment collections.
Quote management module
Offers quote creation including customizable quote templates, quote line editor, quote preview, quote summary, and quote status. It allows converting quote to order in addition to requesting quote approvals and converting quotes into PDF documents. Bill of Material (BOM),
Contract management module
Offers creation of contract and contract repository in addition to contract amendments, and contract status. It also allows to track contract changes and renew contracts. eSignatures, contract preview, and clause library are also offered.
Reporting module
Offers a built-in reporting engine to gain insight into sales and the team’s pipeline besides supporting the creation of custom reports and report scheduling.
Product Configuration
A tool to build customized solutions with built-in validation rules.
Product Visualization Tools
Visualization tools (2D, 3D, AR, VR) in the configuration process let customers examine the configured product from all angles.
Bulk Selection
Select numerous products directly from a catalog.
Compare Products
Tool that allows comparing features of multiple products on the catalog page.
Clone Products
Creates a new item that is identical but separate from the original item.
Quote Creation
A tool to create quotes
Quote Summary
Allows summary of the quote including quote ID, price list, etc.
Quote Status
Shows the possible status of a quote: approved, declined, eSign, etc.
