ERP Term
"Configure Price Quote (CPQ)"

Software used to collect attributes of a configured item, apply rules, then create a configuration and quote.

Configure Price Quote (CPQ) software collects attributes of a configured item, applies rules, and then creates a configuration and quote. CPQ software simplifies and automates configuring and quoting products or services. It can be used by salespeople, channel partners, and customers to generate accurate quotes for complex products or services quickly. CPQ software can also be used to create proposals, price lists, and other sales collateral.

CPQ software typically includes a product catalog with pricing information, a rules engine to apply discounts or add-ons based on customer criteria automatically, and a quoting tool to generate accurate quotes. CPQ software can be integrated with CRM and ERP systems to streamline the quoting process and ensure quotes are consistent with pricing and product information in those systems. 

CPQ software can help organizations improve quote accuracy, win more sales, and accelerate the sales cycle. It can also help reduce the cost of quoting by automating repetitive tasks and reducing the need for manual data entry. 

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