Epicor CPQ – what makes it stand out?

Every product is unique – especially today, when we can choose virtually any color or functionality. Customers value the ability to personalize, but for the production department, fulfilling an order according to specifications can sometimes be difficult. In such a situation, a dynamic configurator like Epicor CPQ can help. What is it, and what makes it stand out?    

What is Epicor CPQ?

Epicor CPQ (short for Configure, Price, Quote) is an advanced tool for configuration, pricing, and quote generation (as reflected by the CPQ acronym) created by Epicor Software Corporation. It streamlines the sales and production planning process. An extensive configurator allows customers to customize products and services to their individual needs while providing a real-time preview of changes. Based on the selected configuration, the price is determined and complete sales quotes are generated. The software can be integrated with ERP and CRM systems, production and supply chain management, and even other systems chosen by the customer via Rest API. This enables a smooth flow of information between different departments of the company. It also makes the sales process more efficient and minimizes the risk of errors and non-compliance. The tool is also effective for CAD automation, allowing engineers to work more efficiently and faster.

Tasks and functions of the Epicor CPQ configurator

The main task of Epicor CPQ is to handle the configuration process for products and services. It allows customers to tailor products or services to their individual needs through a range of options, parameters, functions, and product features such as size, color, material, additional features, etc. The configurator can include a set of business rules defining allowed and disallowed combinations. These are checked during the configuration process to ensure that the customer makes choices consistent with business rules and constraints. Based on the configuration, Epicor CPQ automatically calculates the price of the product or service. Prices can be calculated based on, among other things, raw material costs, labor intensity, or discounts. It can also operate on flexible pricing models offering different prices for different customer groups. Once the configuration is complete, the software automatically generates all necessary documents. These are usually tailored to the customer’s needs and contain the details of the configuration and the offer itself. To speed up the production and sales process, Epicor CPQ can be integrated with CRM, ERP, or production management systems. In addition to the tasks mentioned, Epicor CPQ can collect data regarding the configuration, pricing, and quoting process. This can later be used for sales analysis, identifying market trends, or generating reports and analytics.

Who should use Epicor CPQ?

Epicor CPQ helps streamline and systematize the sales process, increase pricing accuracy, and shorten response times to customer inquiries. For this reason, it is suitable for, among others:

• companies offering products or services with complex structures or variable configuration options,
• organizations operating in a B2B model, where transactions are based on individual contracts and configurations,
• companies providing non-standard services that need to be adjusted to individual customer requirements each time,
• organizations where the sales process is complex and multi-stage.

Epicor CPQ can be adapted to various industries and specific company needs. Before deciding on implementation, it is a good idea to conduct an analysis and consult with the vendor or implementation team.

Benefits of Epicor CPQ

Using a CPQ configurator brings many measurable benefits, as evidenced by the data – manufacturers and sellers using this solution have reported a 168% increase in sales, while production and sales cycles have improved by 35% and 38% respectively. The usefulness of Epicor CPQ is also evidenced by the number of users – there are about half a million of them worldwide. Epicor CPQ allows products to be tailored to customer needs, which translates into greater satisfaction and increases the chances of finalizing a purchase. The sales process itself also accelerates thanks to the automatic generation of prices and quotes – these can also be easily and quickly personalized. The CPQ software automatically ensures that the configurations made are consistent with available options and rules. This minimizes the risk of errors and makes production faster and more efficient. The ability to connect CPQ with other systems used in the company ensures a smooth flow of information between different departments, which improves the sales process. Epicor CPQ can also be used for data analysis, which is particularly important today – organizations that are data-driven and make business decisions based on that data have a better chance of achieving market success. It is also worth noting that implementing Epicor CPQ can be the first step in company automation, which is in line with the currently popular idea of hyperautomation.