What is CPQ (Configure Price Quote)?
CPQ, or Configure, Price, Quote, is a business software solution designed to help companies accurately define the price of goods across a large and constantly changing spectrum of variables. It is widely used in sales, fintech, and finance industries to streamline the configuration, pricing, and quoting processes, ensuring efficiency, accuracy, and consistency.
CPQ systems allow users to configure products or services to meet specific customer requirements. This involves selecting different features, options, and components, ensuring that the final product configuration is feasible and meets the customer's needs. The system ensures that only valid product combinations are offered, reducing errors and enhancing the sales process.
Pricing in CPQ systems is dynamic and rule-based, automatically calculating the price based on various factors such as product configurations, discounts, market conditions, and customer-specific data. This helps in maintaining accurate and competitive pricing, ensuring that sales teams can quickly respond to customer inquiries with precise pricing information.
Quoting is the final step in the CPQ process. The system generates professional and detailed quotes that include all configured product details, pricing information, and terms and conditions. These quotes can be customized to align with the company's branding and can be quickly sent to customers, speeding up the sales cycle and improving the customer experience.
Integration with other business systems, such as Customer Relationship Management (CRM) and Enterprise Resource Planning (ERP) systems, is a key feature of CPQ solutions. This integration ensures that customer data, inventory levels, and financial information are seamlessly shared across systems, providing a comprehensive view of the sales process.
CPQ systems also support approval workflows, ensuring that quotes are reviewed and approved by the necessary personnel before being sent to customers. This helps maintain control over pricing and discounting practices, reducing the risk of errors and unauthorized changes.
Overall, CPQ software enhances the sales process by enabling sales teams to quickly and accurately configure products, generate competitive pricing, and produce professional quotes. This leads to increased efficiency, improved accuracy, and a better customer experience, ultimately driving higher sales and profitability.
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Absorption Pricing
Accounts Receivable
ACH
Advance Billing
AI Agent Pricing
AI Model Pricing
AI Token Pricing
AISP
ARR
ASC 606
Automated Investment Services
Automated Invoicing
Basing Point Pricing
Basket-based Pricing
Billing Cycle
Billing Engine
Captive Product
Channel Incentives
Channel Pricing
Choke Price
Churn
Clearing and Settlement
Commercial Pricing
Competitive Pricing
Consolidated Billing
Consumption Based Pricing
Contribution Margin-Based Pricing
Conversation Based Pricing
Cost Plus Pricing
Cost-Based Pricing
CPQ
Customer Based Pricing
Customer Profitability
Deal Management
Deal Pricing Guidance
Deal Pricing Optimization
Decoy Pricing
Deferrred Revenue
Digital Banking
Discount Management
Dual Pricing
Dunning
Dynamic Pricing
Dynamic Pricing Optimization
E-invoicing
E-Money
EBIDTA
Embedded Finance
Enterprise Resource Planning (ERP)
Entitlements
ERP
Feature-Based Pricing
Finance AI
Fintech
Fintech Ecosystem
Flat Rate Pricing
Freemium Model
Frictionless Sales
Generative AI Pricing
Grandfathering
Guided Sales
Hedonic Pricing
High-Low Pricing
Hybrid Pricing Models
Idempotency
IFRS 15
Insurtech
Intelligent Pricing
Invoice
Invoice Compliance
KYC
Lending-as-a-Service (LaaS)
Lifecycle Pricing
Loss Leader Pricing
Margin Leakage
Margin Management
Margin Pricing
Marginal Cost Pricing
Market Based Pricing
Metering
Micropayments
Minimum Commit
Minimum Invoice
MRR
Multi-currency Billing
Multi-entity Billing
Neobank
Net Dollar Retention
Odd-Even Pricing
Omnichannel Pricing
Open Banking
Outcome Based Pricing
Overage Charges
Pay What You Want Pricing
Payment Gateway
Payment Processing
Peer-to-peer Lending
Penetration Pricing
PISP
Predictive Pricing
Price Benchmarking
Price Configuration
Price Elasticity
Price Estimation
Pricing Analytics
Pricing Bundles
Pricing Efficiency
Pricing Engine
Pricing Software
Product Pricing App
Proration
PSD2
PSP
Quotation System
Quote Request
Quote-to-Cash
Quoting
Ramp Up Periods
Real-Time Billing
Recurring Payments
Region Based Pricing
RegTech
Revenue Analytics
Revenue Backlog
Revenue Forecasting
Revenue Leakage
Revenue Optimization
Revenue Recognition
SaaS Billing
Sales Enablement
Sales Optimization
Sales Prediction Analysis
SCA
Seat-based Pricing
Self Billing
Smart Metering
Stairstep Pricing
Sticky Stairstep Pricing
Subscription Management
Supply Chain Billing
Tiered Pricing
Tiered Usage-based Pricing
Time Based Pricing
Top Tiered Pricing
Total Contract Value
Transaction Monitoring
Usage Metering
Usage-based Pricing
Value Based Pricing
Volume Commitments
Volume Discounts
WealthTech
White-label Banking
Yield Optimization
Why Solvimon
Helping businesses reach the next level
The Solvimon platform is extremely flexible allowing us to bill the most tailored enterprise deals automatically.
Ciaran O'Kane
Head of Finance
Solvimon is not only building the most flexible billing platform in the space but also a truly global platform.
Juan Pablo Ortega
CEO
I was skeptical if there was any solution out there that could relieve the team from an eternity of manual billing. Solvimon impressed me with their flexibility and user-friendliness.
János Mátyásfalvi
CFO
Working with Solvimon is a different experience than working with other vendors. Not only because of the product they offer, but also because of their very senior team that knows what they are talking about.
Steven Burgemeister
Product Lead, Billing