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What is Configure, Price and Quote (CPQ) Software?

Guest Author - DriveWorks Team on September 20, 2018 at 11:30 AM

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Online customization tools are becoming increasingly popular and they’re used by many companies as a way to cost-effectively offer customizable products.

This type of software is often referred to as Configure, Price and Quote (CPQ) software.

What is Configure, Price and Quote (CPQ) Software?

We’ve all seen, and probably used, one of the sales configurators that so many recognized brands are using. If you ask Maria Sarkar, VP and Co-Founder of DriveWorks, about her car, she’ll tell you how she designed it herself using Audi’s car configurator.

Traditional CPQ software is designed to help companies produce accurate quotes in real-time which include all of the complex pricing and product information. Using a CPQ solution, a sales team will have everything they need to produce accurate quotes quickly and efficiently.

With a DriveWorks online sales configurator, customers can develop a product based on their own needs and preferences with minimal input from the company. Engineers can build rules in to the configurator which means that customers and sales personnel can only configure products that can actually be manufactured.

CPQ software enables companies to develop customization strategies that provide a superior service while also ensuring that their business operations are running smoothly. Therefore, the ability to configure, price and quote easily has become essential for companies of all sizes, in all industries.

The Rise of Industry 4.0

What is Configure, Price and Quote (CPQ) Software?

‘Industry 4.0’ refers to the current trend of digitalization and data exchange in the manufacturing sector.

It’s often referred to as ‘the fourth industrial revolution’, following steam machines and mechanization, mass production and assembly lines and computer and automation.

Digitalization is enabling the manufacturing industry to bring product ideas to life in new and innovative ways by leveraging new technologies. These include: additive manufacturing, artificial intelligence, virtual reality, automation, cloud computing and the internet of things.

As Industry 4.0 continues to rise, we’re being introduced to ‘smart factories’, where cyber physical systems monitor the processes within a factory and make decisions with little input from human operators.

It’s interesting to see how the manufacturing industry is transforming and how new technologies, such as CPQ solutions, are being adopted by all types of companies.

CPQ In Action

What is Configure, Price and Quote (CPQ) Software?

Blue Giant Equipment Corporation were founded in 1963 and initially specialised in the manufacture of dock levelers and hand pallet trucks.

Since then the company has grown rapidly with the addition of innovative technology, expanded product offerings and worldwide manufacturing and distribution facilities. Their renowned product line includes: dock levelers, ground-level lifts, vehicle restraints, intelligent dock controls and a diverse range of material handling products

With over 8 million product combinations, Blue Giant were in need of a more simplified configuration solution.

They now use DriveWorks Pro to power ConfigureBLUE™, their online parts configurator for use by their worldwide Authorised Dealers and Sales Teams.

The configurator is available 24 hours a day, 7 days a week and removes the confusion and learning curve often associated with configuring a solution from catalogues.

ConfigureBLUE™ is tied directly to Blue Giant’s internal manufacturing response planning (MRP) system and typically a quote will be received via email within seconds of configuring a solution.

Read the ConfigureBLUE™ Case Study, try out an example CPQ configurator on www.driveworkslive.com or check out our CPQ Sales Automation Video & Resource Library for other related content. 

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