Configure Price Quote tools (CPQ) streamline the sales process, helping manufacturers configure complex products, apply pricing, and generate professional quotes. This automation saves time, reduces errors, and ensures top-notch customer service. With these tools, sales teams can respond faster to inquiries, boosting customer satisfaction and increasing deal closures.
CPQ software is particularly valuable in custom manufacturing, where products have numerous configurable options and pricing rules. When integrated with an ERP system, Configure Price Quote tools enhance efficiency across sales, production, and finance departments. Let’s explore more about how CPQ works and the benefits of Frontier ERP with built-in CPQ.
What is Configure Price Quote?
Configure Price Quote (CPQ) software helps businesses configure products, price them accurately, and generate quotes quickly. The CPQ process eliminates the need for manual calculations and reduces the risk of errors. This results in a more efficient and customer-friendly sales approach.
CPQ helps sales teams and customers create complex products that match customer specifications. It also applies pricing and makes professional quotes in just minutes. Configure Price Quote tools are particularly valuable in custom manufacturing where products have numerous configurable options and pricing rules.
Key Components of CPQ
Configure Price Quote tools enhance product manufacturing by integrating various ordering elements to streamline the sales process. It contains three elements:
Configure
A product configurator allows users to select various features, options, and components. It ensures that all chosen configurations are feasible and compatible, reducing errors and streamlining the customization process. By providing guided configuration, a product configurator helps quickly and accurately tailor products to customer needs. This leads to more efficient quote development and order processing.
Price
Pricing complex products can be challenging, especially when considering factors like discounts, special promotions, and regional pricing variations. Configure Price Quote tools automate the pricing process by applying predefined pricing rules and calculations. This ensures that every quote is accurate and consistent.
Quote
Once a product is configured and priced, the CPQ software generates a professional quote. The quote includes details like product specifications, pricing breakdowns, BOM, and delivery date. Customized quotes can often be generated and delivered to a customer within minutes using Configure Price Quote tools.
How CPQ Works with an ERP System
CPQ tools leverage ERP data and functionalities when integrated with an ERP system. Some general benefits include:
- Centralized Data: All configuration, pricing, and quoting data is stored within the ERP, providing a single source of truth.
- Improved Collaboration: Sales, production, and finance teams can access and share information easily, improving collaboration and communication.
- Real-Time Data: Configure Price Quote tools access real-time data from the ERP system, ensuring that quotes are based on the latest information.
- Streamlined Processes: Integration streamlines the entire order-to-cash process, from initial inquiry to fulfillment and invoicing.
Frontier ERP Built-in CPQ Software
Frontier ERP includes built-in Configure Price Quote tools, creating a unified platform for managing the entire sales process. This integration ensures that all data flows smoothly between departments, reducing bottlenecks and improving communication. Here’s how Frontier ERP’s CPQ tools enhance the sales process:
1. Streamlined Product Configuration
One of the biggest challenges in manufacturing is configuring products to meet specific customer requirements. Frontier ERP CPQ employs a parametric product configurator to address this issue. It gives companies the power to broaden their range of advanced configurations and customization options. Not only is the product configurator easy to use, but it also is efficient and flexible with changes.
2. Accurate Pricing
Product pricing can be tricky for custom manufacturers. In addition to variable configurations, different pricing scenarios also exist. Since Configure Price Quote tools are built into Frontier ERP, automatically apply your pre-defined pricing rules and calculations. This ensures that every quote is accurate and consistent, preventing pricing discrepancies and improving customer trust.
3. Quick Quote Generation
Frontier ERP CPQ allows sales teams and your dealers to generate quotes quickly and accurately. The system pulls all data from the ERP to create detailed and professional quotes. Some details include product configurations, pricing, delivery dates, and customer data. Faster quotation turnaround improves customer relationships and increases the likelihood of closing deals faster.
Benefits of Using Frontier CPQ Tools
Frontier ERP’s built-in Configure Price Quote tools offer numerous benefits for a variety of manufacturers:
1. Better Data Management
All product configurations, pricing, and quote data are stored within the ERP system. This centralization improves data accuracy and accessibility, enabling better decision-making and reporting.
2. Increased Sales Efficiency
By automating the configuration, pricing, and quoting processes, sales teams and dealers can handle more inquiries in less time. This increased efficiency leads to higher sales volumes and improved customer satisfaction.
3. Reduced Errors
Manual processes are prone to errors, which can lead to costly rework and dissatisfied customers. Frontier ERP CPQ reduces mistakes by making sure all configurations and pricing calculations are correct.
4. Streamlined Production
Efficient production scheduling and optimized workflows provided by Frontier ERP help manufacturers meet quick turnaround expectations without compromising quality. Frontier facilitates real-time communication with production scheduling. The CPQ software ensures that production schedules are accessible when quoting and entering sales orders. This optimizes resource allocation and ensures timely delivery.
5. Improved Inventory Control
Configure Price Quote tools within Frontier ERP provide better control and monitoring of your inventory levels. You can easily track stock levels, automatically generate material replenishment purchase orders, and minimize excess stock. This leads to significant cost savings and less overstocking scenarios.
6. Enhanced Customer Experience
Customers appreciate quick and accurate responses to their inquiries. Frontier ERP’s CPQ system greatly enhances the customer experience by providing a user-friendly platform to explore various product options. This empowers customers to make informed decisions, leading to a truly personalized and highly satisfying shopping journey.
Frontier ERP CPQ in Action
From metal fabrication to custom cabinetry, Friedman clients enjoy the efficiency and accuracy of Frontier ERP’s modules and built-in Configure Price Quote tools.
Our customer, Prestige Custom Cabinetry & Millwork, was so happy with the Frontier cabinet configurator that they soon signed on for our eQuote Dealer module.
“Frontier’s configurator assures that the cabinets can be built and the pricing is accurate,” a Prestige representative stated. “Prestige selected Frontier and quickly gravitated to its integrated dealer system, satisfied it could tackle the issues of order configuration and pricing accuracy.”
