Overview of Cincom CPQ
Cincom CPQ (Configure, Price, Quote) is a sophisticated, cloud-based solution designed to streamline and optimize the complex sales processes associated with engineer-to-order (ETO) and made-to-order (MTO) products, particularly in the manufacturing sector.
What Cincom CPQ Does
Cincom CPQ is tailored for manufacturers and businesses that deal with highly customized and complex products. It enables users to generate accurate quotes, proposals, bills of materials (BOMs), sales contracts, and service level agreements (SLAs) efficiently. The platform integrates seamlessly with various enterprise systems, including CRM, ERP, and B2B ecommerce platforms like Oracle, Salesforce, SAP, and Microsoft Dynamics 365, to ensure a unified and error-free sales process.
Key Features and Functionality
Sales Portal and Collaborative Selling
Cincom CPQ facilitates collaborative selling by allowing salespeople, vendors, territory managers, customer service, and deal desk team members to work together on quotes, contract terms, and deal closure. This collaborative environment enhances communication and efficiency across different departments.
Guided Selling
The platform includes guided selling capabilities that help users configure products based on predefined rules, ensuring that the configurations are technically feasible and aligned with business requirements. This feature simplifies the sales process by providing questions, filters, prompts, and quantity limits to guide sales reps and customers through the product selection process.
Visual 3D Product Configurator
Cincom CPQ features advanced 3D visualization tools that allow buyers to see the final product in detail. This interactive configurator enables real-time changes and validations, ensuring that both technical and non-technical buyers are on the same page regarding the product specifications and appearance.
Automated Quote, PO, and BOM Generation
The system automates the generation of quotes, purchase orders (POs), and BOMs, reducing manual errors and streamlining the production process. Integration with ERP systems allows for seamless transmission of POs to vendors without manual data entry.
Product Lifecycle Management (PLM)
Cincom CPQ includes a product catalog that organizes products by categories, features, and related components. It manages version control and expiration dates, ensuring that product offerings are up-to-date and error-free.
Pricing and Discount Management
The platform allows for the configuration of prices for different product combinations and the application of volume discounts, seasonal promotions, or customer-specific pricing. Automated approval workflows handle special pricing requests efficiently.
Business Intelligence
Cincom CPQ provides real-time dashboards that capture data from the quote-to-cash process, including sales cycle time and average deal size. Integration with CRM systems ensures accurate insights into the sales pipeline, enabling users to identify top performers, bottlenecks, and areas for optimization.
Integration with Enterprise Systems
The solution integrates seamlessly with major CRM and ERP systems, such as Microsoft Dynamics 365, Salesforce, and SAP. This integration ensures consistent workflows across sales, engineering, and IT teams, and provides real-time visibility into order history, inventory information, and customer data.
Global Quoting Support
Cincom CPQ supports multi-currency, multi-language, and compliance requirements, making it suitable for global operations. This feature is particularly beneficial for companies looking to scale their operations internationally.
Benefits
- Accuracy and Efficiency: Ensures 100% real-time accuracy in document generation, reducing manual errors and rework.
- Streamlined Sales Process: Automates quoting, order management, and approval workflows, enhancing sales efficiency and reducing sales cycles.
- Enhanced Customer Experience: Provides interactive visualization tools and personalized service, ensuring customers are well-informed and engaged throughout the buying process.
- Operational Cost Reduction: Reduces operational costs by up to 80% through automation and integration with enterprise systems.
Overall, Cincom CPQ is a powerful tool for manufacturers and businesses dealing with complex, customized products, offering a comprehensive suite of features that enhance sales efficiency, accuracy, and customer satisfaction.