CPQ - configure, price, quote

I have being into sales and business operational role having more than 7+ years of experience in using CPQ tool. CPQ stands for configure, price, quote. 

CPQ is essentially an enterprise level pricing solution. It's pretty common for sales deals to get slowed down due to creating proposals, contracts or getting discounts approved. But CPQ automates all of these things so your sales team can operate more quickly and with greater efficiency. 

The benefits of CPQ: At many companies, pricing and the proposal generating process are very manual, even at large companies. Information is often tracked on spreadsheets or in systems outside your main CRM tool. This means that proposals often take a lot of time and that manual process can lead to a lot of human error. It also means that your potential customers are waiting longer to get proposals, which is never a great experience. 

Creating quicker and automated quotes is going to mean your company generates revenue more quickly, worries less about human error, and allows your sales team to be more efficient. So with all those benefits, CPQ seems like a great fit for any company with a large sales team who needs to generate a large number of proposals on a regular basis.

CPQ enables you to create pricing rules and processes that you can automate the entire proposal and contract process. You can even do things like connect your contracts to an electronic signature program to make the entire process seamless. So the real value of CPQ is that it allows you to save time and makes your sales team more efficient during the closing process of the sale. 

The important thing to know is that CPQ is completely integrated within Oracle. It is well integrated with Oracle CRM and ERP solution. So all of your customer data, internal rules, and pricing are all in one place, which makes generating proposals and contract process simplified.

Each OEM has a unique way of presenting their product and pricing solutions whereas the functionality remains same but the difference is the User Interface (UI) and it's simplified solution. Some are very well integrated solution with CRM and ERP while some are standalone solution depending on third-party. #OracleCPQ is much more integrated tool with #CRM #CPQ #ERP.

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