Configure Price Quote Software (CPQ)
Definition - What does Configure Price Quote Software (CPQ) mean?
Configure price quote software (CPQ) is an industry term for products that help companies to adopt more data-aware systems. CPQ solutions can help businesses to keep prices more in line with current market conditions. This software is sometimes written as "configure, price, quote" to illustrate that these software products can help with all three of these core operations for setting and controlling prices.
Techopedia explains Configure Price Quote Software (CPQ)
Common features of CPQ software systems include handy interfaces for price sheets, cloud-based hosting and other easy features for handling and storing data. Other visual components of these kinds of software can help companies to move quickly through multiple stages involved in price quoting. In many cases, these types of products may involve detailed analytics that will help businesses to not only set current prices, but to project future demand and price quotes. As this kind of software becomes more common in enterprise resource planning, a variety of alternatives will present companies with different options for handling the important process of setting and resetting prices.