CPQ stands for Configure, Price, Quote. It is a software tool that helps companies streamline and automate their sales processes. The main goal of CPQ is to make it easy for sales teams to create accurate and consistent quotes for their customers in a timely manner.

CPQ software typically includes a variety of features that help sales teams configure products and services to meet the specific needs of their customers. This can include options for customizing products, setting prices, and creating quotes. Some CPQ tools also include features such as contract management and electronic signature capabilities.

One of the key benefits of using a CPQ solution is that it helps to reduce errors and inconsistencies in the sales process. This is because the software is designed to ensure that quotes are accurate and consistent, and that all relevant information is included. This can help to increase the chances of closing a sale, as well as reducing the amount of time and effort required to create a quote.

Another benefit of CPQ is that it can help companies to increase their revenue and profitability. This is because the software can help sales teams to create quotes more quickly and efficiently, which can lead to more sales and higher revenues. Additionally, CPQ can help to ensure that prices are set correctly, which can help to maximize profits.

In summary, CPQ (Configure, Price, Quote) is a software solution that helps companies automate and streamline their sales process. It enables sales teams to create accurate, consistent and error-free quotes and helps to increase the chances of closing a sale. Additionally, it can help companies to increase their revenue and profitability by creating quotes more quickly and efficiently and setting prices correctly.