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Key CPQ Trends to Watch for in 2020
It has become paramount for software companies to have a mobile interface that is user-friendly and intuitive, helping organizations’ users to respond to quote requests in real-time without any delay.
FREMONT, CA: CPQ is the abbreviation for Configure Price Quote. CPQ has been a big growth area in the software market, and this trend is expected to continue in the coming years. When a number of CPQ products were introduced, many focused on one key area, among others, including complex pricing, or product configuration, or complex quote document generation.
Let us look at the major trends in CPQ:
CPQ has traditionally been an internal tool utilized by a company’s deal desks or sales teams assigned to provide a quote to a customer. That trend has changed now, and companies are focusing on enabling their channel partners to quote on their behalf easily and providing self-service quoting abilities to their customers.
Enablement of the quoting tool to these partners and customer channels has become a vital requirement and a differentiator for many products in the CPQ landscape.
Improved Guided Selling
This has always been a vital component of the CPQ processes. Later, it became a key feature with an increased emphasis on external users’ capability to utilize the tool effectively and offer guidance throughout the sales process, simultaneously suggesting up-sell and cross-sell products that are one part of the guided process.
Mobile devices are becoming more and more advanced, and the use of mobile applications continues to increase. Hence, it has become paramount for software companies to have a mobile interface that is user-friendly and intuitive, helping organizations’ users to respond to quote requests in real-time without any delay.