Expert CPQ SOFTWARE Answers

CPQ Software

Table of Contents (Quick Links)

Listen

CPQ Software: Overview of Who Uses It, Benefits and Features, and Top Examples

Who Uses CPQ Software?

Configure, Price, Quote (CPQ) software is used by a wide range of businesses that require an efficient, streamlined process for producing sales quotes or proposals. This includes businesses that sell complex, customizable products such as manufacturers, distributors, and service providers. CPQ software can be highly beneficial for businesses that want to increase their sales productivity, speed up sales processes, improve accuracy, and reduce errors.

Benefits of CPQ Software

CPQ software offers many benefits for businesses of all sizes, including:

1. Improved Sales Efficiency: CPQ software automates many manual sales tasks, creating a faster, more efficient sales process that can ultimately lead to increased revenues. Sales reps can spend less time creating quotes and proposals and more time selling.

2. Increased Accuracy: CPQ software eliminates the risk of human error in sales quoting and proposal creation, ensuring that quotes are always accurate.

3. Enhanced Sales Visibility: CPQ software provides businesses with valuable insights into their sales process, including which products are selling best, which quotes are most successful, and which reps are closing the most deals.

Features of CPQ Software

CPQ software typically includes the following features:

1. Product Catalog Management: CPQ software enables businesses to create, manage, and customize their product catalog, including configure-to-order and engineer-to-order products.

2. Pricing Engines: CPQ software provides the ability to set pricing rules, discounts, and promotions based on product attributes, customer data, and other factors. This ensures that all quotes are consistent and accurate.

3. Proposal Creation: CPQ software allows you to create fully-branded and customizable proposals and sales quotes in minutes. You can also store and reuse proposal templates and content.

4. Sales Team Collaboration: CPQ software creates a shared workspace for sales teams to collaborate on quotes and proposals, reducing the potential for errors or inconsistencies.

Top Examples of CPQ Software

Here are five of the top CPQ software products on the market today, along with a brief description of their distinguishing features, how to use the software, and any drawbacks or limitations:

1. Salesforce CPQ (salesforce.com): Salesforce CPQ is a powerful solution that streamlines configure-price-quote processes. It offers intuitive pricing tools, advanced quote management capabilities, and deep Salesforce CRM integration. However, it may require a steep learning curve and can be expensive for small businesses.

2. Cincom CPQ (cincom.com): Cincom CPQ is a highly configurable and scalable software solution. It features built-in engineering and rules engines, as well as a 3D product configurator. However, it can be complex to set up and maintain.

3. Oracle CPQ Cloud (oracle.com): Oracle CPQ Cloud is a comprehensive solution that offers advanced pricing, product configuration, and guided selling capabilities. It includes integration with major ERP systems, as well as social media and e-commerce platforms. However, it can be expensive and may require a high level of technical expertise to implement.

4. Apttus CPQ (apttus.com): Apttus CPQ is a flexible solution that can be customized to meet the needs of any business. It features intelligent pricing and quoting capabilities, as well as automated approvals and workflow. However, it may require significant IT resources to implement and maintain.

5. CallidusCloud CPQ (calliduscloud.com): CallidusCloud CPQ is a cloud-based solution that offers powerful analytics, guided selling, and omnichannel selling capabilities. It includes integration with popular CRM systems and marketing automation tools. However, it may not be suitable for all industries and can be costly depending on the level of customization needed.

Conclusion

CPQ software is an essential tool for businesses that want to streamline their sales quoting and proposal processes. With the help of CPQ software, businesses can increase sales efficiency, improve accuracy, and gain valuable insights into their sales process. By choosing the right CPQ software for their needs, businesses can make their sales teams more productive and achieve greater levels of success.