Configure, Price & Quote (CPQ)

In today’s highly competitive business environment, an organization’s capability to provide a solution that considers all the influencing variables, prioritizes them based on the customer’s need, leverages the opportunities to cross-sell, upsell, and finally, quotes the absolute best price possible; gives it the required edge to outclass the competition. With growth & expansion, come difficulties to manage product pricing, identify great upsell opportunities, and keep track of configurations & the pricing offered by competition. Moreover, multichannel sales environment makes maintaining an up-to-date pricing information of products a major challenge, leading to slow response, lost opportunities, and losing ground to competition. Configure, Price, Quote, or the CPQ software, helps organizations quickly and accurately identify a solution, considering a wide gamut of variables that influence its components; outlines their pricing; and submits a proposal with the least amount of effort.

LTI’s CPQ services help you identify the right approach – choosing the right CPQ tools available in the market with varying capabilities in terms of configurability, customization and integration with existing systems, or develop a custom solution. Our in-depth domain expertise spans across a multitude of third-party products to build and deliver applications in the form of desktop, web and cloud-based design, and catering to industry segments such as energy, automotive and aerospace, engineering and construction, industrial manufacturing, and the HVAC domain.

Highlights

  • Virtual Product Catalog, using a custom product configurator, to offer the desired products based on customer geography & profile.
  • Development of integrated application system to collaborate on the sales negotiation process, order entry and feed product front-end manufacturing.
  • Product Configurator assistance in design & estimations across sales, engineering and manufacturing operations.
  • Rich expertise across a wide range of industry products and technologies.
  • Deep pool of consultants, user experience & digital experts, with experience in the manufacturing industry.
  • Dedicated CPQ academy for grooming talent for the manufacturing industry.

Benefits

  • Easy creation of accurate Quotes and Proposals.
  • Easy configuration of unique solutions like Guided Selling.
  • Generation of Proposals and Contracts in minutes, to keep deals moving (e.g. Generate Document).
  • Providing Sales Managers and Sales Operations control over Discounts and Processes (e.g. Edit Quotes).
  • Complete visibility for forecasted opportunities and recognised revenue, using standard Reports and Graphs.
  • Control of the Sales Process, from Quote to Cash.
  • When a deal is closed, the system automatically creates an Order and Invoice (e.g. Invoice details).
  • Quick tracking of all the deals data, since they are stored as Opportunities or Jobs.
  • Reports and Status flags alert the finance team of any potential issue (e.g. Invoice report).
  • Fast and easy collections with Integrated Collection options (e.g. Payment sites).
  • Generation of Revenue Recognition Schedules automatically (e.g. Account Product Revenue).

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