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Browse [LATEST] Apttus CPQ Interview Questions and Answers

Last updated on 23rd Sep 2022, Blog, Interview Question

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1.What Is a Cpq?

Ans:

CPQ stands for a Configure, Price and Quote. CPQ is a tool which helps to companies produce accurate, configured quotes and make them using automation C is for a configure. Customers can select products that are needed. P is for price. make a price for a products which are selected. Generating an estimation price to a Customer for products.

2.What Is a Qtc?

Ans:

QTC stands for a Quote to Cash and it is an end to end business process which starts from a generation of quotes to receiving payments for customers.

3.What Is an Apttus Cpq?

Ans:

APTTUS CPQ is one of the leading CPQ services provided to clients by company named as APTTUS.

4.What Is a Product?

Ans:

It is Product or services that can be sell to a customer in as Standalone, Options and Bundle Standalone: It can be sold an individually. Bundle: two or more products can be sold as the bundle. Options: it provides an additional choices for a products to end users.

5.What Is a Product Family?

Ans:

Product Family is a standard feature provided by a salesforce and that can segment a products using picklist.

6.What is Product Group?

Ans:

Product Group is an APTTUS Custom object and it contains the set of products in it.

7.What Is a Category?

Ans:

Category is the high-level segmentation of products. It helps end users to select them using a Product catalog.

8.What Is a Product Catalogue?

Ans:

Product Catalogue is a place where can find all lists of products available in the organization.

9.What Are the Bundle Products?

Ans:

Bundle Products are a combination of a two or more products that provide an added value to customers.

10.What Is a Product Hierarchy?

Ans:

Product Hierarchy is related to a hierarchy of products which are interlinked to the another product.

11.What Are the Inner Bundles?

Ans:

Inner Bundles are also called as a multi-level bundles where users select the bundle inside a bundle.

12.What Are the Attributes In Apttus Cpq?

Ans:

Attributes are related to a features like colour, weight, size and so on.

13.What Is a Product Attribute?

Ans:

Product Attributes are related to a features of a product like colour, weight, size and so on.

14.What Is a Product Attribute Field?

Ans:

Product Attribute Field is value of features of product which may be a colour, size ..etc ex: White iPhone Here iPhone is the product and White is an Attribute.

15.What is a Product Attribute Group?

Ans:

Product Attribute Group is containing a two or more Product Attributes.

16.What Are the Search Filters?

Ans:

Search filters help us to find a results by using their field values. To find products, options can use a search filter based on their field values.

17.What Is Price List?

Ans:

Pricelist stores a multiple prices of a specific product based on business flow.

18.What Is Price List Item?

Ans:

Price List Item stores a list price of a product that contains different price lists based on area, location,quantity etc.

19.What Are the Price Rules?

Ans:

Price Rules deals with the Pricing adjustments on products and it also helps to provide a discounts, Special offers and Promotional offers.

20.What Are the Price Rules Set?

Ans:

Price Rules sets contain a criteria to update the Price Rules set on a product.

21.What Are the Price Matrices?

Ans:

Price Matrices is used to adjust a pricing for a single product on the price list.

22.What Are an Inclusion Rules?

Ans:

Inclusion Rules helps us to generate an error messages or promotes to users for including both products.

23.What Are an Exclusion Rules?

Ans:

Exclusion Rules helps us to generate an error messages or promotes to users for excluding both products.

24.What Does a Cpq Stand For? Explain What It Is All About?

Ans:

CPQ stands for a Configure Price Quote. It is a software tool which is widely used by a sales personnel. So basically with this tool, the sales executives within the organization will have an overall view of various aspects of a project quote and help them to reach to an optimum level when it comes to a price quote. All of this happens without any dependency on other individuals.

25.What Is a More Unique About This Tool?

Ans:

With help of this tool, it gives the flexibility for a sales executives to work on the price quotes based on a latest approved pricing structures and discounting rules and approvals already predefined. So basically all these factors are taken into a consideration while generating a specific price quote. All this can happen anywhere and right at their fingertips as on when there is to be need. Thus making it more flexible tool and independent tool for all the sales executives within an organizations. It not only makes a sales executives or officials life simpler and efficient it also adds to overall execution of the organization selling strategy.

26.How Does Cpq Is Actually Closing a Crm System Gaps?

Ans:

When it comes to a CRM systems most of them do not cater to option or flexibility of automating their price quote processes and thus making life hard. With an existing CRM applications that are out in a market, it is difficult to automate a price quote process. Thus forcing the employees to rely on a standard Microsoft Word or Excel. By following this process, the entire flow of quote generation is slowed down to maximum extent. Further, they might not be a 100% accurate and prone to a unidentified risks.Thus being said about a slow price quote process, it will further affect the next steps like having low win rates and also more obstacles to make from the potential leads to a customer. Thus, ultimately affecting the revenue for a organization.

27.What Are The Primary Factors That Are Usually Encountered Within the Organization Where It Calls For Need Of a Cpq Software?

Ans:

  • Extensive delays in a quote creation process.
  • Too many errors during a quote creation process or lot of loose ends
  • It was out of date product related information and pricing structures
  • Doesn’t take advantage about of upselling or cross-selling platforms.
  • Lack of sales process optimization or visibility to grow sales channel

If observe any of these challenges are actually bringing a sales team to underperform it is responsibility to invest in a good CPQ software which help to be in a good position.

28.How Does a Cpq Software Usage Will Tr orm Organization Sales?

Ans:

  • Increase Speed
  • Eliminate Errors
  • Maximize Deal size
  • Provide accurate and updated information.

29.What Are The Major Roadblocks That are Actually Slow Sales In the Organization?

Ans:

  • It is practically impossible to find out all product related offerings and in a detailed information about the latest products.
  • Not able to judge what products would suit a customer as per their requirement. This is purely because the sales executive is confused about a product offerings itself because there is no repository of all product offerings and latest information about them.
  • No proper discount rules explained for products
  • Following up with an approvals from the managers, this will increase internal follows even before a sending the quote to the customer
  • Manual quote creation, prone to lot of the human errors
  • All these obstacles will be well handled and managed by a team if they have an automated software which helps them to get their price quote up and running in few minutes.

30.Can List Out A Few Bullet Points Why A Cpq Tool Will Have a Sales Increase Faster And Make a More Productive Straight Away?

Ans:

  • One location where all of the products information is available
  • All latest product offerings are available
  • The tool helps and suggest guided products based on a requirement
  • Basically, the sales users will be able to a customize the product offerings from a list as per their requirements
  • Because of its an Automated workflow process
  • All this combined generates the Price quote.

31.How Does a Cpq Tool Helps to Make Money Apart From The Sales?

Ans:

The only way to make money is to sell a products to the market and based on margin an organization is evaluated in terms of the profit. If the price quotes for a requirements are done manually then usually they are provided with the deep discount deals where they have only one intention is to close the deal with a customer at any given point of time. This way, the profit margin is reduced to very low value.

If this process is automated with the CPQ tool, we add value to the price quote by providing a right product information and right product price in the organized manner. During this process, all discounts are actually set and approved so thus there is no manual intervention. Based on a price quote, the profits are actually agreed by the team rather than single executive. Thus it helps in making a more money and profit to an organization.

32. what is an Apttus used for?

Ans:

Apttus, in simple words, is a quote-to-cash software provider that drives an important business processes between the potential buyer’s purchase and the revenue realization. It is also Organization dealing with leading a Configure Price Quote (CPQ. software, E-commerce, and Contract Management software).

33.What Are various Factors That Are Taken Into a Consideration While Pricing A Product?

Ans:

  • Mainly includes on a market demand
  • A competitive pressures
  • A value offered to the customers
  • Timings and the cost to provide a services
  • Business and sales strategy for that a product

All of these are the various factors which have a dynamic impact on a product evaluation and product pricing.

34.Why Does a Cpq Tool Is Considered As A Modern-day Utility Tool For Organization?

Ans:

  • Offers the superior selling platform.
  • Single source of truthful and worthy an information about products.
  • Targeted price quotes because of a customization.
  • Incentives provided based on a product selection.

35.How Does a Cpq Tool Actually Helps To Turn All Quotes Into Contracts?

Ans:

The sales process doesn’t stop after just sending out a price quote to the customer. The sales user should be able to follow up and make sure that customer is turned from a potential lead to actual customer to an organization. Thus, the modern-day CPQ tool actually helps to simply all the information from a Quote to the contract management system, thus eliminating an effort of putting all the price quote information into a contract management system manually. This helps to reduce a lot of time and gives the power to the users to close the deal much faster when compared to a traditional way.

36.Why Does a Cpq Tool Help to Sales Executives With Influencing Behavior?

Ans:

The more they sell an organization does make more a profit from the sales so it is evident for an organization to actually invest in some sort of a tool which actually makes or inculcates the motivation. So one of such tools is nothing but a CPQ, it does provide the right information about the product at a right time. Thus giving out a positive feeling for a sales executive and ultimately motivates him to do this over time.

37.What Is a Future Of Cpq Tool With the Machine Learning?

Ans:

There is a lot of future to a CPQ tools when it comes to a machine learning concepts. With the help of a machine learning concepts, it helps the sales users to compare his current price quote with all previous price quotes of their prominent sales executives, thus providing the comparison environment.

This helps to reduce the mistakes in the current price quote and modify according to the suggestion that was provided by a system itself. All together this will help a price quote to be excellent and attract the customers because that are quoting exactly what they were looking out and especially when they see a well-drafted quote they don’t mind a spending premium amounts because it creates a trust in a services angle.

38.Why Is Apttus Stated As “Quote To Cash” Model?

Ans:

Because the tool actually helps to businesses to be more competitive in terms of competing with target market and also become more agile and dynamic while following up with customers providing them with the customized environment. In general, using a Apttus CPQ tool one can observe a straight jump in their sales revenue as it is a right mixture for the current market need.

39.Does Apttus Cpq Tool Has Api Where They Can Connect To a Third-party Systems To Do More?

Ans:

Yes, absolutely. The tool has been API’s available so that they can connect to any other third party systems where they can manage and do the more.The integration process is more smooth and easy to start off with.

40. Is Apttus a SaaS company?

Ans:

Apttus delivers a Software as a Service (SaaS. applications, allowing to rapidly and simply deploy an enterprise class applications

41.So what does a ABO stand for in a Apttus CPQ tool?

Ans:

ABO stands for an Asset-based ordering platform.

42.Is Apttus a Conga?

Ans:

Conga CLM boasts a multiple functionalities that facilitate a management of all kinds of contracts. Legal, finance, or sales and marketing teams can work on the contract directly from Microsoft Office and automate certain sections without affecting a rest of the document.

43.Do have any signature process in a Apttus CPQ tool?

Ans:

Yes, the Apttus DocuSign package can be integrated and thus enabled the users to avail a signature facility within the Apttus interface.

44.What are the challenges of a contract management?

Ans:

The Legal department usually takes care of a creating, managing, and maintaining contracts. When Legal manages a contracts manually, there is a chance of facing a bottlenecks. They might also face some errors like a revenue leakage, non-compliance, etc.

45.What is a middle office?

Ans:

The middle office is a department that takes care of a financial functions. It sits in between a front and back office. The middle office team manages risks and ensures that tr ctions have been correctly executed.

46.What are advantages of Apttus CLM?

Ans:

  • Contracts a creation is faster
  • Revenue leakages have been stopped
  • Early detection of a risks
  • Improves a contract renewal rates
  • Increased a visibility and compliance
  • Reduced a manual errors
  • Deals will be closed faster

47.What are offerings of Apttus?

Ans:

Intelligence Middle Office:

  • Quote-to-Cash
  • Contract Lifecycle Management (CLM).
  • Configure Price Quote (CPQ).
  • Revenue Management
  • B2B E-Commerce
  • MAX-AI
  • X-Author

48.What are the Apttus CLM contract templates?

Ans:

Contract templates provide a standardized format for all the contracts. Any change made to any clause or term, anywhere the term or clause applies, will automatically have an updated language.

49.What awards did an Apttus CLM achieve?

Ans:

Apttus has been announced as a leader in a Forrester Wave for a Contract Lifecycle Management.

50.Is Apttus and a Conga same?

Ans:

As a combined company, operate as a Conga. Third, experience a same commitment to innovation and a high level of dedication from a team.

51.Who are the customers of an Apttus?

Ans:

  • Adobe
  • Aramark
  • Citrix
  • Hewlett Packard Enterprise
  • Abb
  • AppNexus

52.How can Apttus CLM be with integrated?

Ans:

  • Jitterbit
  • Salesforce
  • Adobe Sign
  • Mulesoft

53.Is Apttus CLM and CPQ a same?

Ans:

No, Apttus CLM and CPQ are not a same. Apttus CLM is for a contract management. Apttus Configure a Price Quote (CPQ). is for managing a quotes.

54.Does Apttus CLM provide a reporting capabilities?

Ans:

Apttus CLM provides a detailed search and reporting capabilities. It enabled a quick access to information on the contracts.

55.How much does an Apttus CLM cost?

Ans:

  • Print CLM
  • Enterprise CLM
  • Ultimate CLM

56.Why is a contract management a critical part of Quote-to-Cash?

Ans:

Contract management powers of Quote-to-Cash solutions. All the quoted and invoice information has been explained in a contract. It provides the speed and control that need to handle a process improvements.

57.Can Apttus CLM dynamically generatea legal templates?

Ans:

Request: Someone in the company requests for new contract.

Drafting: Involves the creation of each single standard contract.

Negotiate: Both parties negotiate for a terms and conditions.

Approval: Get a contract approved by a Legal, executives, stakeholders, and the customer.

Execution: Get a contract signed, put it into an effect, and place it in a repository.

Obligations:Implementation of a contract line items and meet deadlines.

Compliance: Provide regular reports to an internal and external parties and performance to obligations.

Amendment/Renewal:Before a contract expires, need to send a new contract for a Renewal. I will kick off the new cycle.

58.How can manage a contracts effectively?

Ans:

Consolidation: Create one central repository for all contracts, templates, and clauses.

Task automation: Automate manual processes of a Legal team. It increases a process control and reduces manual errors.

Process efficiencies:Create a well-organized contract process to enabled a faster contract cycle times.

Contract performance:Identify and remedy pain points to provide a best service to your customers.

59.Why are automating a contracts necessary?

Ans:

  • It will provide a clear expectations for all parties.
  • It offers control of a resources.
  • It will optimized a revenue and cost streams.
  • It also streamlines a business processes.

60.What type of contracts does an Apttus CLM use?

Ans:

Apttus CLM supports any type of contracts like a sell-side contracts and buy-side contracts. It also enables the other business teams like HR, operations, IT, R&D to manage their general contracts.

61.Name the general contract pain points.

Ans:

  • Difficulty in balancing a speed and control.
  • Legal team lacks visibility into a contract terms.
  • Inconsistent in a use of words and language in a contracts.
  • Tracking the contracts between the several departments and locations.
  • The inability to manage a changes over time.

62.How can achieve a contract management excellence with Apttus CLM?

Ans:

  • Get a contracts in one place.
  • Define a process and performance metrics.
  • Build a contracts smarter.
  • Integrate and accelerate a contracts with Quote-to-Cash.

63.Is Apttus CLM on-premise or on a cloud?

Ans:

Apttus CLM is cloud-based solution, and it is not available to a download and install on-premise.

64.Explain about a Apttus CLM?

Ans:

Apttus Contract Lifecycle Management (CLM. enabled the automation of contract processes.It offers a higher-quality experiences for both parties. It improved negotiating outcomes, reduces cycle times, and minimizes risk. Apttus CLM is available on a cloud, so it is simple to connect to any CRM.

65.Explain about a clause library?

Ans:

A Clause library plays a vital role in a contract process. It is like a repository where pre-approved clauses are be stored. These clauses have been used for generating a contracts. It will speed up a contracting process and reduce risk.

66.Can Apttus CLM dynamically generate a legal templates?

Ans:

Yes, Apttus CLM dynamically creates a legal templates from a clause library.

67.Explain about a Quote-to-Cash?

Ans:

Apttus Quote-to-Cash provides an integrated view of all the customers, quotes, and contracts. An organization will have a complete visibility to boost revenue growth and reduce errors. It encompasses the sales, contracts, and customer relationship life cycles.

68.Can integrate a Apttus CPQ and CLM?

Ans:

Yes, can integrate an Apttus CLM with Quote-to-Cash. It tr ribes the quote elements and populates a purchasing contract automatically. It speeds up a closure of deals resulting in speeding a revenue generation. It also increases a customer satisfaction.

69.How is an Apttus CLM different from a revenue management?

Ans:

The revenue process comes after a contract is signed. It includes an invoicing, billing, and order management functions and provides consistency across channels and a customer-friendly interactions.

70.Is Apttus equipped with the machine learning?

Ans:

Apttus has incorporated a Machine Learning in Quote-to-Cash to get smarter and faster with the real-time analysis. It can get predictive insights that learn from a company’s data.

71.Is an Apttus part of Salesforce?

Ans:

Apttus Omni has been built on top of a Salesforce. Apttus Quote-to-Cash solutions inherit a Salesforce properties like mobile access, advanced analytics, etc

72.Describe a Apttus CLM RFP

Ans:

Apttus CLM provides a modifiable template that can use to create a comprehensive RFP. It represents the capabilities that buyers should consider when evaluating a contracts.

73. How do install a Apttus CPQ in Salesforce?

Ans:

  • Go to a Resources > Install Center tab on a Conga Community Portal.
  • In My Packages navigation link, click a CPQ.
  • Click a Install Now.
  • Select a environment in which want to install the packages.
  • In a Salesforce login screen, enter a login credentials and click Log In.

74. Why is it called a conga?

Ans:

The name conga is believed to have an originated from the African region of Congo, although a Latin music historian Isabelle Leymarie claims that conga may have come from a Bantu word that means both the song and tumult

75.What is a Apttus product group?

Ans:

Product Group is an APTTUS Custom object and it contains the set of products in it.

76.How does a CPQ tr orm the sales process?

Ans:

By speeding up a sales process, CPQ applications help sales organizations to reduce wasted time and protect more deals from a stalling in the sales pipeline. Adding CPQ to CRM increases a profitability. Adding CPQ to an existing CRM results in more profitability-both in an increased revenues and increased efficiency.

77.How does a CPQ software enhance the buyer experience?

Ans:

With a single sign-on, a sales reps can create quotes using dynamic CPQ solution that reduces errors, produces quotes quickly, and streamlines approvals. Our CPQ enhances a buyer experience by sending quotes and relevant sales content in the personalized DealRoom which aids stakeholders in a decision-making.

78.What is CPQ and how does it benefit sales teams?

Ans:

CPQ benefits a sales teams by reducing a amount of time they spend on non-sales activities. A CPQ helps them respond faster to their customers with a right pricing, messaging, and marketing documentation while an eliminating time-consuming administrative tasks.

79.What is a CPQ software and how does it improve a ROI?

Ans:

A properly designed and simple to maintain CPQ system can provide a positive ROI based on pricing improvements alone. CPQ software helps each salesperson price product or configuration for any customer. Infused with the AI-based price optimization technology, CPQ tools become a smart quoting engines.

80.What is a Salesforce CPQ and how does it benefit of sales team?

Ans:

Salesforce CPQ can benefit sales teams and overall organization in the number of ways: Give sales leaders unprecedented a control and visibility. Without CPQ, many sales teams operate an under chaotic circumstances. Maybe seen teams accidentally send out an unapproved pricing or promise products that no longer exist.

81.Is Apttus quote-to-cash a competitor to a Salesforce?

Ans:

That me Apttus Quote-to-Cash solutions inherits a Salesforce innovations like mobile access, advanced analytics, and the ability to run business in a multiple currencies and languages. It is competitor to a Salesforce CPQ itself.

82.What is a Apttus software used for?

Ans:

Apttus, in simple terms, is a provider of quote and collection software that drives an important business processes between the buying from a potential buyer and earning revenue. It is also an organization that is responsible for a main software for the configuration of quotes (CPQ., e-commerce and contract management).

83.Who are end-users for Salesforce CPQ & Apttus CPQ?

Ans:

Thus, the end-users for both the Salesforce CPQ & Apttus CPQ are Salespeople only. Hence, they can give a more time to selling using these software solutions.

84.What is difference between a Apttus and Apttus Omni?

Ans:

Apttus is B2B cloud service running on a Salesforce platform. Apttus Omni is built on a Salesforce, one of the world’s most scalable and secure enterprise clouds. That me Apttus Quote-to-Cash solutions an inherits a Salesforce innovations like a mobile access, advanced analytics, and the ability to run business in multiple currencies and languages.

85.Who is a founder of Apttus?

Ans:

History Apttus was founded in a 2006 by Kirk Krappe, Neehar Giri, and Kent Perkocha. The three co-founders reportedly developed a company. Krappe served as a company’s first CEO, with Giri as Chief Solutions Officer and Perkocha as a Chief Customer Officer.

86.Who is a CEO of Apttus?

Ans:

Apttus, which operates a cloud platform to help a businesses with the quote-to-cash process, has raised $41 million in the Series B funding round, which was led by a Salesforce Ventures. “The opportunity is enormous,” said Kirk Krappe, who is a CEO and co-founder.

87.Did Apttus buy a Colorado company for $715 million?

Ans:

San Mateo-based on Apttus Inc. is buying a Colorado company and adopting its name in the private equity-financed deal that is reportedly valued at a $715 million.

88.What does Apttus-conga deal mean for a business?

Ans:

“The combination of a Apttus and Conga, two leaders in business process tr ormation, creates a new company with the significant scale, a unique set of a complementary product offerings and a highly skilled management team with impressive track record of success,” Thoma Bravo Managing Partner Holden Spaht said in an announcement of the deal.

89.Is Apttus owned by an Insight Partners?

Ans:

Thoma Bravo acquired a Apttus in 2018. However, Insight Partners will retain significant interest as the lead investor in an original Conga. Conga’s Digital Document generation and tr ormation and Apttus Middle Office solutions are the natural combination.

90.What will happen to Congo’s culture after a merger?

Ans:

Matthew J Schiltz, CEO, Conga, announced in blog that four key things won’t change. The combined a company will continue to maintain a culture focused on a customer success. The company will continue as a Conga.

91.Is Thoma Bravo taking the lead in a conga-Apttus merger?

Ans:

Thoma Bravo has engineered the merger of a Conga and Apttus. Terms of the deal are not known, but it seems like a Thoma Bravo is taking the lead in combination. Thoma Bravo acquired Apttus in a 2018. However, Insight Partners will retain significant interest as the lead investor in an original Conga.

92. Why is a CPQ tool regarded as a modern-day organizational utility tool?

Ans:

  • Offers the tremendous platform for marketing.
  • A legitimate node for an accurate and trustworthy product details.
  • Due to a customization, customized pricing quotations are available.
  • Incentives are offered in a accordance with the product options.

93. What is audit trail?

Ans:

The Audit Trail feature in a business software is important for obtaining data or tracking any recent configuration changes made by a organization’s management. Data can be retained in an audit trail for up to 12 weeks.

94. What Exactly Are the Price Matrixes?

Ans:

Pricing Matrices are used to change the price of a particular item on market price.

95. What are the Packaged Products?

Ans:

Packaged Products are the collection of multiple products that would provide value to a customer’s purchase.

96. How will the use of a CPQ software impact the organization’s sales?

Ans:

  • Increase a Speed.
  • Eliminate an Inaccuracies.
  • Maximize a size of the transaction.
  • Provide a comprehensive and up-to-date data.

97. Do Have Any Esignature Process In a Apttus Cpq Tool?

Ans:

Yes, Apttus DocuSign package can be integrated and thus enable d the users to avail an esignature facility within a Apttus interface.

98. What awards did Apttus CLM can achieve?

Ans:

Apttus has been announced as a leader in a Forrester Wave for a Contract Lifecycle Management.

99. an Apttus CLM dynamically generate a legal templates?

Ans:

Yes, Apttus CLM dynamically creates a legal templates from a clause library.

100. What are CLM challenges that Pharma companies face?

Ans:

Apttus CLM helps to Pharma manufacturers gain visibility for a clinical and sales teams. can manage a buy-side, sell-side, and clinical contracts on a single platform. It enabled reduced a compliance risks and tracks obligations for clinical trials.

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