November 19 by Vikram Chakrabarty
In my brief but interesting experience with automated Configure Price Quote (CPQ), I have realized that the speed, accuracy and control it provides reps composing a deal is comparable to that of a pilot in an aircraft cockpit. That’s because, once you are in it, you have control over practically every aspect of the quoting process and all within a quick click.
CPQ works in the same fashion, allowing you the flexibility to configure a complex combination of products and their attributes in multiple ways. You set an initial combination and constraints and then observe how it behaves, making the necessary tweaks, until the product optimal deal is configured.
Like every aircraft requires an engine to power it through the flight, automated CPQ has its own engines like constraint rules, pricing rules and callback mechanisms, that power the platform through its life-cycle. An aircraft can make mid-course corrections, turns, climbs and descents, much in the same way, the CPQ product allows re-configuring products, re-defining pricing strategies, enforcing new constraint rules, implementing new callbacks – all done in real time.
The more I think about it, the more the similarity strikes me. Companies equipped with the enterprise cockpit CPQ are better armed than those that aren’t.
Without deep diving into cryptic statistics, it is common knowledge today, that an IT system that does not allow adaptability and flexibility to accommodate rapidly changing business scenarios are destined for failure. Imagine that for every new business need, if you had to build a completely new kind of aircraft! This is exactly what happens with custom built solutions. You build a whole new solution each time your market needs change.
The time is not too far, when a third of the world’s major businesses will be powering through the market on-board the CPQ multi-role aircraft. With the market growing increasingly competitive and rules, regulations and legislations requiring quick and constant adaptation in business processes, having real time controls is ever more critical. The CPQ solution impresses time and again when it comes to run-time adaptability and flexibility, all with an incredibly tiny infrastructural foot-print.
To see automated Configure Price Quote in action, try the guided, interactive CPQ Demo.