Infor CPQ is considered a Visionary among Configure Price Quote solutions by this year’s Gartner Magic Quadrant.
The solutions are evaluated based on completeness of vision and ability to execute against key configure price quote criteria.
According to Gartner, visionaries are “ahead of most competitors in their product plans and understanding of the market. They anticipate emerging and changing needs and move the market into fresh areas.”
What is CPQ (configure price quote) software?
Are your sales teams not working as efficiently as you expect? Do you constantly receive feedback from your customers saying they are not satisfied? All of these might be the results of an old-fashion sales process with outdated technology.
Today’s products are highly complicated. They are made of an increasing number of parts, components, and subcomponents and configured in many different ways for a multitude of needs.
A CPQ solution can help speed up your order-to-delivery process. It automates the product configuration and selling process, facilitates customisation and order confirmation, and generates proposals and other documents automatically.
What Infor Configure Price Quote (CPQ) can do
Infor Configure Price Quote (CPQ) helps improve not only your sales teams’ performance but also your customers’ buying experience and even your distributors’ services. Infor CPQ is the perfect tool to raise profit for sale, convert more visitors into buyers, and make the whole sales process more productive and successful.
Infor CPQ comes equipped with the following tools:
1. Product configuration engine
There is a huge knowledge about all product configurations and their applications. This function captures that knowledge and builds it into an automated configuration process that can be accessed by your sales reps and dealers using web browsers.
2. Quoting and ordering portal
Your sales reps, dealers and distributors can quickly customise their quotes and orders with detailed visualisation of products.
3. 2D / 3D product imagery
This function automatically generates configuration-specific and intuitive 2D or 3D product imagery for immediate confirmation.
4. Automated documentation process
This function automatically produces customised proposals, submittals, technical specifications, product brochures and other sales documents, in MS Word or Adobe Acrobat pdf formats.
You can watch this 18-minute demo video to gain a deeper understanding of what Infor CPQ is capable of.
How Infor CPQ benefits your business
1. Closing more sales, faster
CPQ automated tools help eliminate errors in the quoting process, accelerate the sales cycle, and provide sales reps with more accurate information. It also gives sales reps more opportunities to upsell.
You can capture the knowledge and experience of your best salespeople, turn it into a guided process and share it with those who are less experienced. This helps achieve a higher conversion rate for new staff and reduce their learning curve.
2. Improving customer satisfaction
CPQ enables manufacturers to fulfil orders more quickly and consistently. Customers can tailor products that suit their needs more easily and place orders faster. Such capabilities are particularly crucial to make-to-order (MTO) or engineer-to-order (ETO) manufacturers.
Customer satisfaction is further strengthened by a more consistent buying experience across all touchpoints. Whether the customers interact with your website, mobile app, they are always presented with the same product configurations that fit their preferences.
3. Increasing quality and production efficiency
With CPQ tools, manufacturers will be able to quickly create and store rule-based BOMs and packing instructions. They can even generate 2D or 3D images of final products and assemblies to clearly show workers what to build. These functions help significantly reduce not only labour requirements but also errors in the production process.
CPQ makes your customers place their orders through a guided process and hence ensures that all necessary choices have been made. This, in turn, ensures that all orders are submitted to production on time and built to exact specifications. Moreover, CPQ can precisely capture customer requirements and present them for confirmation, which further prevents the risk of delivering the wrong product.