Mindmatrix is equipped with a powerful CPQ engine that allows you to configure product bundles and solutions, thus facilitating the guided sales process and simplifying proposal generation.
The system allows administrators to bundle different products together. For example, if the prime product is a camera, this module lets you create an innovative solution by bundling a tripod, additional zoom lens, hand straps, etc.
Compatibility engine based on user selection
The CPQ engine is intelligent and evolves at every stage based on the answers to pre-set questions. To configure a solution/product bundle/quote for a particular industry vertical, the user needs to select the preferred industry type. Then CPQ engine will automatically show the relevant questions or options for the chosen industry.
Quote Editor: Ability to lock and unlock certain sections
The CPQ engine is equipped with a quote editor that supports role-based permissions for editing and access. You get to decide what part of the proposal/quote the salespeople will be able to edit. You can limit access/edit rights to certain sections of the proposal or quote such as the brand elements (Logos, color codes, font style, etc.,) or regulatory/legal elements such as disclaimers, terms, and conditions, etc.,.
Ability to add or remove products
The CPQ engine facilitates a guided sales process by automatically selecting the products/solutions based on the answers to the pre-set questions and also offers the flexibility to add or remove products.
Personalized proposal generation
You can generate personalized proposals for each prospect using the CPQ engine because it allows you to include additional information such as case studies, whitepapers, research articles, etc., in an existing proposal template. The CPQ engine will show only the relevant assets to be added, based on the situation. For example, it will display assets tagged as Healthcare for healthcare industry prospects.
Approval process
In the event a salesperson or a channel partner has offered a discount that goes beyond the typically approved rate and needs a sign-off or approval from someone else, they can send the quote for approval directly via the Mindmatrix platform.
E-Contract generation
The quotation/proposal generated via the CPQ module is linked to Mindmatrix’s contract module, As a result, the system automatically generates a contract based on the data selected at the time of quote/proposal generation. For example, if you have different service level agreements for different industry verticals, Mindmatrix will choose the right one based on the data selected at the proposal generation stage.
Pricing model options
Mindmarix offers the ability to configure different pricing options such as
- List price, maintenance contract charges, additional warranty charges, installation fees, etc., for hardware/products
- User license, server license fees, etc., for software
- Service fees for services rendered
Pricing discount models
You can configure various discount models in the CPQ engine such as
- Volume-based discount–where you can configure the CPQ module to apply a discount of x% on orders exceeding a certain quantity
- Partner-based discount–where you can configure the CPQ module to apply different discount rates based on the partner type or tier
- Customer profile-based discounts-where you can configure the CPQ module to apply discounts based on customer-specific criteria like frequency of purchase, location, etc.,
- Additional discounts/seasonal discounts—where you can configure the CPQ module to apply a discount for a certain timeframe
- Limits on discount–You can set a limit beyond which the CPQ engine won’t allow the user to process discounts
– Multi-currency support
Partner markup options
Mindmatrix also allows you to configure the maximum and minimum markup limits for your partners.
The pricing, markup, and discount models can be fully customized to suit your needs.
Interested in learning more? Please visit www.mindmatrix.net for more information.
