CPQ-modules

Learn how to use the CPQ (Configure Price Quote) tool to quickly and accurately generate quotes for orders.

Content

• How to use the CPQ feature
• How to create a CPQ bundle

Description

Taimer's CPQ software is a must have sales tool for companies to quickly and accurately generate sales quotes.

What is CPQ?

Configure, Price, Quote or CPQ software simplifies complex product pricing, cuts down sales cycles, minimises errors, and automates quotes. CPQ is a sales tool designed to help companies produce accurate and highly configured sales quotes.

Why use CPQ

Many companies start to use CPQ especially when their product offering grows. With CPQ you can:

• Configure product/solution packages or bundles 

• Add discounts and adjust prices easily

• Create & share sales quotes that are detailed, precise and tailored to the needs of the client

• Minimise manual errors and maximise sales

• Save time and simplify work for your sales team

How to use the CPQ feature

Add and manage your products and pricing in the Products register view.

Use Taimer's CPQ software to create customized packages and bundles for these products and solutions. These bundles can then be configured in the sales quote easily making the quoting process simple and fast. 

Taimer's CPQ software provides several ways to discount prices for your customers. You can adjust the prices of products from the product inventory or create a sales quote and adjust pricing and discounts for individual products or the CPQ packages in the sales quote.

How to create a COQ bundle

To create product packages or bundles:

• Navigate to Sales from the blue sidebar

• Navigate to CPQ

• Click on Add CPQ or the green + symbol to create a bundle

• Enter the name and description for the CPQ bundle. Click on the green check mark (✓) to save the details

• Now that you have named your CPQ bundle, the next step is to add new items, description rows and products from the product register. 

• Click on the arrow ˄ symbol next to a package

• Click on Add new

• Add new items item or add products from the product inventory

• Update the quantity, unit, unit cost, selling price and VAT%. The system automatically calculates the selling price for the all the units and the profit margin

• Update the type of product being sold

• Once the CPQ bundle is set up, the sales representatives can easily add these CPQ bundles to their quotes

Fields explained:

• Description: The name of the item

• Qty: The number/amount

• Unit: Can be either hours or quantity

• Unit cost: The cost of a single unit

• Selling price: The price at which the item is being sold

• VAT: Value added tax

• Sum 0%: Total selling price of all units. VAT excluded

• Margin 0%: Total sum (0% VAT) minus Unit cost

• Type: Can be hours, sub-contracting, services, expenses, products.

How to add product bundles from the CPQ to a sales quote

• Navigate to the project for which the quote needs to be sent

• Click on the project

• Navigate to Sales Quotes in the header

• Click on Edit

• Navigate to the line items

• Click on Add new

• You can now choose what to add to your Sales Quote. In order to add a CPQ bundle, choose either CPQ itemised or CPQ grouped

• CPQ itemised lists all the items that belong to the bundle. You can adjust the prices and discount of each of these items 

• CPQ grouped gives you the total value of all the items grouped in this bundle

• The Sales Quote is now ready to be sent to the customer. Click here to learn how to create a sales quote in Taimer.