Configure, Price, Quote (CPQ) software helps the customers in configuring the products from a set of available components, products and services, to generate the desired product. Pricing considers the configuration that is done by the customer and delivers the actual price or the discounted price if applicable to the customer while ensuring profit margins based on costs.
Configure price and quote (CPQ) software also assists in creating the quote document for presentation to the customer which includes all the details of products and services included. Configure price and quote (CPQ) software assists in addressing the modern B2B buyers and seller’s needs.
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The organizations are inclined to invest in Configure price and quote (CPQ) software because it improves the B2B buying experience of customers, and also helps in delivering that the customer preferred product at right time in buyers preferred channel.
Configure price and quote (CPQ) software helps to reduce the time required to market the new offerings and also reduces seller ramp time, Configure price and quote (CPQ) software also helps in automating the complex back-office sales processes in the front-office, and helps in reducing the costly pricing errors.
Configure price and quote (CPQ) software solutions helps in solving the major needs of organizations that manufacture complex, custom engineered products. But in current scenario Configure price and quote (CPQ) software solutions are used across various industries to deliver customizable and personalized products to the customers.
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Configure, Price, Quote (CPQ) software market: Drivers and Challenges
Configure price and quote (CPQ) software market is mainly driven by rising need for higher productivity. CPQ software reduces the dependability on paperwork and documentation and assists the sales management staff to enhance their productivity. Speed of pricing and configuring process of the products and services also increases which helps the organizations to reduce their overall costs associated with the demonstrating the features of products and services physically.
Configure price and quote (CPQ) software is also deployed to manage the legacy system integration, overcome management challenges, and remove pricing data variations. Cloud deployment of the Configure price and quote (CPQ) solutions allows the user to access the applications either through smartphone, desktop or laptop from any remote location which helps in increasing the productivity of the organization.
How to structure the quote so that it can be used for down-stream provisioning is one of the challenge faced by the Configure price and quote (CPQ) software. Lack of awareness among the end-user is also one of the factor restraining the growth of the Configure price and quote (CPQ) software market.
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Configure, Price, Quote (CPQ) software market: Regional Outlook
On the basis of regions, Configure price and quote (CPQ) software market can be segmented into North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan, and Middle East and Africa.
North America and Western Europe Configure price and quote (CPQ) software market is predominantly mature as compared to the other regional market as they are fast in the adoption of technology.
Configure price and quote (CPQ) software market in Asia Pacific excluding Japan and Japan are expected to possess maximum potential in the forecast period. Configure price and quote (CPQ) software market in Latin America and Middle East and Africa are also projected to witness positive growth during the forecast period.
Configure, Price, Quote (CPQ) software market: competition landscape
Key Vendors for Configure, Price, and Quote (CPQ) software market include Apttus Corporation, Callidus Software, FPX, LLC, Oracle Corp, PROS, Inc, Salesforce.com, Aspire Technologies, Inc, Cincom Systems, Inc., ConnectWise, Inc., International Business Machines Corporation, Infor, Inc, Model N, Inc., SAP Ag, and Vendavo, Inc.
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