The acronym CPQ stands for Configure, Price, and Quote.

A dedicated CPQ software tool serves to create, offer and manage highly configurable products with regards to product attributes, product pricing, and dynamic quotes. Configure the product, determine the associated Price, and generate a suitable Quote.

In the current business environment, high product complexity and rapid changes in product variants require fast, efficient and interconnected product configuration management. Increasing dynamics in product configuration in turn necessitate more dynamic price management. CPQ covers both aspects. 

With CPQ-enabled dynamic product configuration and pricing accuracy, salespeople receive accurate, needed information in real time. They can efficiently generate correct quotations and better explore opportunities to upsell and cross-sell products.

Configure the product

Configuring a product involves selecting different (types of) attributes and their combination to create a user-specific product. The whole process is guided by configuration rules and limits regarding the product.The configuration functionality makes it easy to generate and compare product variants. This supports the management of complexity, either due to product complexity (e.g., a large number of parts, which may be configurable themselves) and/or due to the complexity of possible configurations (e.g., combinations of parts in their respective configurations).

With these product and service configurations, salespeople can offer to customers a wide, multi-dimensional range of product options to choose from, based on their specific needs. They can focus on customer needs and guide the customers accordingly towards a specific product configuration. In the background, the CPQ product configuration supports the sales process, e.g., by ensuring manufacturing feasibility and pricing accuracy.

Price the configured product

Beyond facilitating product management, the CPQ software typically automates pricing calculations and thus gives sales staff and online sales systems like webshops accurate information in real time. A configurable pricing solution helps the sales team to increase their sales by providing customers with exciting offers, often based on their previous purchases. With a CPQ solution, salespeople can calculate prices automatically according to the product configuration, add discounts and offers, etc. It is easy to change pricing based on real-time data using simple adjustments. CPQ thus boosts the pricing procedures for services and products sold by your company.

Flexible pricing support is an excellent advantage of using CPQ for salespeople. For example, elaborate discounting schemes assist salespeople in formulating highly suitable quotes. CPQ software lets you set the price rules for such schemes and include volume discounts and promotional offers such as coupons or gift cards. In sum, it facilitates competitive product pricing.

Deliver a Quote for the configured product

Combined with text and document management capabilities, the software also supports the generation and delivery of quotes. The CPQ platform professionalizes quoting procedures by removing all errors and incorporating the branding rules of the company. It pulls the proper pricing data, product configurations, and information into your quotes.

A sales team can now create quotes fast, send them by email and even have them electronically signed to complete a sale. Such automation helps to increase customer loyalty and satisfaction, as well as scale the sales process.

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Here we understand a product configuration as the procedure or result of a sales process when a product is specified according to a customer demand.
In the course of a product configuration, one or more properties or parameters are specified using an Internet browser.
The result of the product configuration is a combination of properties and parameters that can be used to uniquely identify the product.
During product configuration with CodeCPQ, the user can be guided through the configuration process with the help of presented information, such as appropriate and quickly adapting texts and illustrations.

If only one of these requirements applies, you can increase the speed, accuracy and efficiency of your business processes with the CodeCPQ module for Odoo ERP:

• If the configuration options of standard Odoo are not sufficient. This is the case when the matrix of product variants , which differ by a few specified configurable attributes (for example, T-shirts that differ in a few nominal sizes and in a few colors), is not sufficient.
• If many values are selectable when specifying a product. (Odoo automatically creates a product variant for each selectable value, and even a large multi-dimensional variant matrix for multiple attributes).
• If your product needs to be specified with one or more parameters. Typically a technical product with a dimension such as a length or width.
• If you need to automatically generate images or CAD drawings.
• If you want to automatically generate PDFs, for example contracts.
• If you need to calculate with calendar days to determine prices.
• If you want to allow different configurations in the web store and back office.

It should be noted that it is necessary to know the Python programming language to build a configuration scheme for complicated products.
All information about products can be determined via the backend.
First, the products, their variants, prices and properties must be entered. For this one uses the Odoo module "Inventory". The parts lists (in the Production module) can be parameterized and thus made dynamic for use in CodeCPQ.
Then the calculation schema (CPQ Code Set) is created. It is the heart of CodeCPQ and can be applied to multiple products.
All methods, e.g. how the product configuration runs and how its result is further processed, can be defined by the programmer in different, so-called "code snippets". Each "code snippet" has a specific function. Here are the most important ones:
First, one determines the data structure of the products one wants to configure with the product object, which can have a variety of properties. 
In the CPQ code set of the CodeCPQ module you can determine how the end user sets the properties of the desired product using an input form (input mask in the browser). 
You can determine how prices are calculated and texts are compiled via programming in Python code snippets and finally how visualizations and PDFs are designed.
This is roughly the procedure to create a calculation scheme for a CPQ product.

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CodeCPQ allows images, graphics or drawings to be displayed during the configuration process that represent product features specified by the user.

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With CodeCPQ, after appropriate programming during product configuration, prices can be displayed very quickly, calculated according to previously defined rules.

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CodeCPQ allows you to flexibly define which product texts are used for the configured product with programming in Python code. You can determine in which documents, drawings or data fields they are displayed within CodeCPQ workflow.

CodeCPQ enables you to automatically create formatted PDF files for the appropriate specified product.

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The CodeCPQ module has made it possible, using the REST API functionality, to retrieve information provided by other computers over the Internet. This allows data to be kept up to date.

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The data determined during configuration can be used for product specification or drawings, which are helpful to automatically order the product from the supplier.

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CodeCPQ supports you to perform your sales activities in multiple languages.

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​Code C P Q

The name says it all.
Code is used by the Python programmer to determine exactly how the configuration of the product will proceed and how it will be further processed.
C stands for "Configure" products to your heart's content.
P stands for "Price" is really not exaggerated for soooo many powerful features
Q stands for "Quote"