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CPQ: One solution, multiple advantages

Increasing competition makes it mandatory for product companies to offer unique yet valuable offers to customers to remain in business. Two factors -- exclusive product combinations and best prices -- govern how businesses offer irresistible prices to gain market differentiation.

However, shaping exclusive product combinations can be precarious as businesses must navigate the challenges of complex product launches and configurations. At the same time, finalizing cost-effective prices also involves finalizing prices for a large number of products, quote generation, and too many discounts that could impact revenues negatively. 

Fortunately, these issues are comprehensively answered by a configure-price-quote (CPQ) solution. Figure 1 provides an outline of a CPQ solution as follows:

Figure 1: High Level Features of CPQ

It's a given: A CPQ solution has to be mobile-friendly

Commerce processes and quote life cycle, are critical aspects of a lead to order journey. Sales teams play a pivotal role in ensuring that a lead converts into an order and eventually into revenues. Just imagine, if a sales representative is sitting with a client and needs to close the deal instantly. At that moment, he/she cannot afford to login into a computer, complete the product configuration, pricing, discounting, approvals, et al, and then present the quote to the customer. This may cause undesirable delays and lead to a high probability of losing business in 'cut-throat' competition. Hence, it is of utmost importance that salespeople should be able to access CPQ applications from anywhere on mobile devices, resulting in the need for mobile CPQ solutions.

Based on the above points, the mobile CPQ solution should have the following salient features as illustrated in Figure 2 to close the deal on-premises with customers.

Figure 2: Features of Mobile CPQ

 

The Infosys approach to CPQ solutions

Infosys has made significant investments in mobile CPQ solutions because we understand that the benefits of such solutions can impact enterprises positively. As Oracle's Platinum partner, our capabilities are centered on the Oracle CPQ Cloud solution, which features mobile CPQ application as an out-of-box functionality. Subsequently, we have observed that mobile CPQ solutions not only offers benefits to sales representatives, but also to approvers. The comprehensive list of benefits is provided in Figure 3. Please note that all three type of users can access the CPQ solution from anywhere.

Figure 3: Benefits of Mobile CPQ

Comments

Very informative.

Quick overview of CPQ and Mobile CPQ. Nicely explained. Good work Sir!!!

Lots of Knowledge in single page. Interesting.

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