What does the acronym CPQ stand for?

The acronym CPQ stands for "Configure Price Quote." This term is widely used in sales and business processes, particularly in industries that deal with customizable products or services. CPQ software solutions help businesses streamline the quoting process by allowing sales teams to configure products according to customer specifications, accurately price them in real-time, and generate quotes efficiently. This enhances the overall sales process by reducing errors and improving response times, ultimately leading to better customer satisfaction and higher conversion rates.

The other options presented do not accurately reflect the established meaning of CPQ in a sales and business context. They either refer to unrelated concepts or do not encompass the full scope of what CPQ entails.