In this fast-paced business world, an ideal businessperson is one who works smarter, not harder! Gone are the days when business demanded wealth and an equal amount of your health; many have stayed up for nights to establish their paw in industry. But nowadays, one smart move and you are a billionaire; that too overnight!

All thanks to the advanced and intelligent tools we have… Indeed we have!

Anyway, in today’s episode of smart business talks, we have brought you to talk about an exciting CPQ software that is changing the entire way of doing business! Yes, if most of your time goes into data entry and writing price quotes instead of sales, you probably need this software.
Nevertheless, cut straight to the point…

What is CPQ Software?
Back then, in the 1980s, it used to be known as the “Configurator,” i.e., to help the sales team to enable customers to choose their specifications. Fast forward to today, the same CPQ technology has evolved in every imaginable way. Let’s just understand the CPQ software;

CPQ: Configure, price and quote; it is basically a process salespeople follow while configuring products, determining the price, and producing a quote for the same products.

Configure, price and quote; well explained!

You must understand these three substantial CPQ terms, which are the crux of this advanced technology almost all businesses are dependent on.

Configure
When you offer services or products, it is necessary to configure them; why? We tell you… Every customer, of course, does not come up with the exact requirement your other customer wants, you deal with several customers, and all of them have different requirements. That’s when it is required to configure your services and products to meet your customers’ needs and deliver the exact product and services on time.

Here’s a scenario;
Despite the discrete, repetitious manufacturing of products and services, mass customization” is now becoming the major asset of the business. Obviously, customers increasingly want products and services to be tailored according to their specific desires and want them in no time. And if your business is unable to do so, chances are high that customers will look for some other business with the same services with better and more efficient customizations.

Price
Pricing is one of the essential parts of doing business; you can’t afford casualties in business. This makes it mandatory to do it right; in sales, CPQ software acts as a bidding software that helps salespeople choose between different pricing options, allows them to make packages based on the service type, and offers discounts if needed.

Configuration and pricing are interlinked as you offer mass customization. Obviously, you must price products and services accurately based on the client’s requirements, marketplace, geographical aspects, and sales channels. In a nutshell, your business needs a tool to track all of your pricing structures to ensure your business quotes are accurate; and that tool could be CPQ Software.

Quote
This is the final stage where the salesperson quotes after going through all legal aspects, amendments, and renewals; ensures that all the collaterals are legit and biddable. And if done manually, it might take days or maybe months. But at the same time, when CPQ Software is used, those days can be reduced to a few hours. The incredible power of CPQ!

Wrapping up
Needless to say, the entire business landscape has changed, and today if customers don’t find exactly what they’re looking for, they’ll move on to other service providers. So it goes like this; your business needs CPQ Software so that you won’t fail to offer an extensive configuration, pricing, and an apt quote for your products or services. Look no further to choose QDV, and don’t let the doors open for your competition to answer your potential customer’s needs and take that market share from you!