Understanding CPQ

Configure Price Quote - CPQ

Creating efficient and accurate customer quotes can be challenging in the FES industry. CPQ (Configure, Price and Quote) software gives you the ability to customize products and generate an accurate quote in a fraction of the time compared to traditional methods.

At its most basic, CPQ software is considered a sales tool – but not all CPQs are created equal. Here are some things you should ask yourself when considering purchasing CPQ software, regardless of the size of your company, product line or sales volume.

Does it understand my business?

CPQ software is an expanding market, so the number of options is growing day to day. Those options include general CPQs and those developed for specific industries. Considering a product tailored to the needs of your business will serve you better than one produced for the masses.

Is it easy to use?

While “user-friendly” may feel like an overused term, having a software that is easy to implement and understand never gets old. The higher the usability factor, the more likely your team is to adopt it quickly and stay engaged for the long haul.

Can it grow with us?

Equally important to ease of use is scalability. As your company and products expand, so should your CPQ. If you find yourself shopping for new software every year, most likely you will also find lower usage rates. Choosing a software that can adapt to changing markets is critical.

How often does it update?

Technology is constantly evolving so you want a software that is going to keep up with the pace and your business. Find out how often updates are scheduled and if they are included with purchase.

Is support included?

At some point, you’re probably going to need some help. Troubleshooting on your own is time-consuming and frustrating. Pick a software that offers training resources and support on a variety of platforms – phone, email, chat, etc. Otherwise, you may end up with unexpected costs.

What’s the maturity factor?

Unless you want to be part of a test group, it’s probably best to go with a software that’s been around the block. Over time, software should become more effective because a lot of those early bugs and UX issues have likely been ironed out. That means that the version you get has its best foot forward.

Can I try it?

You’ve watched all the how-to videos, read the reviews and sat through the demo, but actually testing the product is the best way to determine whether something works for you. A company that believes in its product should always offer a free trial period.

Considering these questions during the research process will assist you through the selection process. Also, remember to consider any specialized needs your business may have. This will put you well on your way to selecting a CPQ with confidence.


About the Author

Juleen AyresJuleen Ayres is a marketing manager at AutoQuotes. She joined our team in 2016 with more than 15 years’ experience in B2B and B2C marketing. Juleen is responsible for keeping our customers informed about AutoQuotes’ solutions, services and events. You may catch her on the road, meeting customers at industry conferences and events. You can drop her a line at jayres@aqnet.com.