FPX Intelliquip CPQ Overview
FPX Intelliquip CPQ is a robust, cloud-based Configure, Price, Quote (CPQ) software specifically designed to cater to the complex needs of manufacturers, particularly in the automotive and industrial equipment sectors. This platform is a result of the integration between FPX and Intelliquip, following the acquisition of Intelliquip by Revalize in 2019, which has enhanced its capabilities and offerings.
What FPX Intelliquip CPQ Does
FPX Intelliquip CPQ streamlines the sales process for manufacturers by automating and optimizing the configuration, pricing, and quoting of complex, highly engineered, and customizable products. It eliminates manual processes and errors, significantly improving sales efficiency, accuracy, and customer satisfaction.
Key Features and Functionality
1. Advanced Product Configuration
- The advanced configuration engine allows sales representatives to build bespoke products from scratch or use preset CPQ bundles, options, or versions. It also optimizes configurations for upselling and cross-selling opportunities by introducing relevant features and accessories.
2. Collaborative Guided Selling
- FPX Intelliquip CPQ features a unique guided selling approach that enables the generation of accurate quotes in just a few clicks. It includes an automated, permission-based approval process to ensure quote and order accuracy while reducing errors and delays.
3. Automatic Quote, Order, and BOM Generation
- The platform’s dynamic document generation tool converts configurations into templated orders, quotes, and bills of materials (BOMs) with a single click, eliminating manual data entry and potential errors.
4. Product and Pricing Rules Management
- FPX Intelliquip CPQ ensures 100% accuracy and consistency in pricing, configurations, and product rules. It allows users to define product rules, create complex pricing strategies, and apply them globally or to specific products, customers, or regions.
5. Integration with Front- and Back-end Business Systems
- The software integrates seamlessly with front-end CRM and back-end ERP systems, providing a 360-degree view of the sales process. This integration enables direct sellers to work with familiar tools while ensuring partners, distributors, and customers have access to real-time product, pricing, and configuration information.
6. Dynamic Pricing and Budgetary Quotes
- FPX Intelliquip CPQ features dynamic pricing based on market conditions and customer segments. It also provides instant budgetary quotes for project scoping, helping in quick and accurate project estimation.
7. Reporting and Analytics
- The platform includes reporting tools that allow users to analyze the order and buying process, see customer journeys, and identify popular configurations and successful bundles. This data helps in making informed decisions to enhance the order experience and increase customer satisfaction.
Benefits
- Streamlined Sales Process: Reduces the time needed to specify, quote, and order inventory, making the sales process more efficient.
- Enhanced Sales Strategies: Guides sales reps toward optimal product configurations and upsell opportunities, increasing Average Order Value (AOV) and Customer Lifetime Value (CLV).
- Improved Customer Experience: Provides a consistent, omnichannel buying and selling experience, ensuring uniform customer interactions across all sales channels.
- Operational Efficiency: Integrates with existing CRM, ERP, and pricing systems, offering flexibility and seamless operation between tools.
- Industry Expertise: Specifically addresses the challenges faced by contract manufacturers, making it a tailored solution for their unique needs.
In summary, FPX Intelliquip CPQ is a powerful tool for manufacturers, offering advanced features and functionalities that enhance sales efficiency, accuracy, and customer satisfaction, while also integrating seamlessly with existing business systems.