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Configure, price, quote (CPQ) is a process used to sell products or services that require layers of customization based on each customer’s needs.
Historically, the configuring, pricing, and quoting processes were spearheaded by a salesperson—someone who is in close contact with the customer that can offer a highly customized experience. Now, in the era of self-service B2B commerce, buyers still expect this high level of personalization.
Integrating CPQ software into online B2B commerce ensures that customers get the customization they need without constant involvement from a salesperson.
Businesses implement a CPQ solution to increase sales productivity and improve the customer experience. To better understand how CPQ works within digital and in-person sales experiences, let’s break it down.
Prospective customers are searching for products and solutions that suit their specific needs and will relieve specific pain points. Through the configuration process, CPQ solutions gather information from each individual customer to generate relevant solution recommendations.
The value of configuration
Intelligent pricing solutions allow sales and operations teams to calculate prices automatically, apply discounts, optimize approval processes, and validate quote information. Streamlining pricing variability allows your sales team to focus on building stronger relationships with each customer.
The value of intelligent pricing
CPQ software allows you to collaborate across departments—sales, legal, customer success, and finance— to send over the best and most accurate quote possible.
The value of quote automation
There are countless benefits to automating the CPQ process if your business offers a complex, configurable product. Implementing a CPQ tool enables your teams to communicate, share data, and ultimately provide more prompt and personalized service to your customers.
Learn more about Oracle’s unified approach to sales and CPQ, and how we can help deliver on your most complex configuration and quoting requirements at scale.
How fast you respond to your customer's needs can make or break every deal. Read more about how CPQ can help you deliver a quicker, more consistent, more connected customer experience.
Want to see Oracle Configure, Price, Quote (CPQ) in action? Take the brief self-guided tour below.
As a Sr. Product Marketing Manager for Oracle Advertising and CX, Reanna is responsible for developing product messaging and positioning with a focus on Oracle’s Configure, Price, Quote (CPQ) and Subscription Management solutions.