Best CPQ Software
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CPQ Software Overview
What is CPQ Software?
Configure, price, quote (CPQ) software is a type of sales enablement software that focuses on generating quotes and managing product configuration requests.
CPQ Software Features & Capabilities
Software features may include:
- Quote sharing/sending: Salespeople can share quotes and quote details with customers, via email, a customer portal, a personalized URL, or some other means.
Credit approvals: Allows customers to input credit information. This can be checked and approved or declined. Credit score may factor into the quote.
E-signature: Includes electronic signature functionality so that proposals can be approved and signed digitally. Or, may integrate with e-signature software.
Product configuration: Allows users to configure products and services by selecting bundles, constraints, options, preferences, etc.
Configuration options: Supports a robust, comprehensive level of detail around configuration options,. These include product features, services, quantity, etc. Options take into account the availability and compatibility of selections.
Pricing rules: Determines price based on rules and hierarchies. Rules may consider customer demographics, availability, and/or product configuration.
Price adjustment: Sales users can adjust or override prices, based on coupons, discounts, markups, etc.
Purchase history and open contracts: Provides information about a customer’s previous purchases and current purchase/service agreements, which may factor into new sales or need to be modified to account for new sales.
Guided selling/Sales portal: Provides salespeople with tips, recommendations, or question sequences to help with product configuration and quoting, and/or to assist with cross-sell and upsell.
Self-service CPQ: Includes an interface for customers to select product options and generate their own quotes; this is particularly relevant to eCommerce.
Reporting & Analytics: Users can report on and analyze CPQ processes. Metrics may include quoting cycle time, proposal acceptance rates, revenue, etc.
Proposals: Allows users to generate/automate sales proposals. Or, may integrate with proposal automation software.
Integration: Some CPQ software integrates with third-party products like CRM and Excel. with Excel so that quotes can be generated on spreadsheets using underlying CPQ rules.
Sales Quote Generator
At the core of CPQ software is a rules engine that coordinates resource supply, customer information, and pricing structures. The quote produced by a CPQ tool is based on company pricing and configuration policies, which are taken into account behind the scenes. The CPQ rules engine might also take into consideration the customer’s demographic information. For example, certain discounts may only be available for customers in a particular region.
CPQ help to automate the process of checking whether certain custom requests (options/combinations/features) are possible, and how much they will cost. Some CPQ applications, such as those used by telco and insurance companies, help navigate a complex pricing structure that includes a lot of discounts and exceptions.
Key Benefits of Using CPQ Software
Knowledge retention & productivity—helps institutionalize sales knowledge, which can be beneficial for onboarding and training. This is especially important in situations where pricing and configuration are complex.
Sales alignment—sales teams are aligned around the same configuration and pricing rules, so quotes are consistent and accurate and revenue is predictable.
Efficient sales cycles—pricing rules are semi-automated, so quotes can be produced very quickly.
Better customer experience—availability and pricing information is based on a customer’s specific circumstances, and all salespeople are on the same page.
Typical pricing for CPQ software is $100 to $250 per user, per month, depending on the range of capabilities required.
Big Machines is the best-known vendor in the CPQ space and offers three main flavors: Sales Engine for direct sales, Channel Sales for sales through partners, and eCommerce engine for direct self-service selling. This is a Saas offering and appeals to those with SaaS CRM systems already in place -...
ConnectWise Sell (formerly Quosal) is the quote and proposal solution of the ConnectWise Suite. With ConnectWise Sell, users can create professional technology quotes and proposals that include rich product information, cover letters, and statements of work in minutes and automatically update...
QuoteWerks is specialized Configuration Pricing Quoting (CPQ) software that can be used in every industry to create sales quotes and proposals. The vendor’s value proposition is that rather than relying on Microsoft Word or Excel to create quotes, users can benefit from a tool that is specialized...
Apttus is a Configure, Price, Quote platform built natively on the Force.com platform.
Salesforce CPQ (formerly SteelBrick) is built and delivered on the Salesforce Platform and Salesforce1 Mobile App which enables users to create accurate sales quotes quickly and submit error-free orders on the fly from any device.
NetSuite CRM is built on the same code base as the NetSuite ERP product and is usually used by customers who are already using NetSuite for ERP/Accounting.
PandaDoc headquartered in San Francisco offers their eponymous electronic signature platform for sales teams, containing sales proposal automation and CPQ (configure, price, quote) features, and integration with CRMs.
Valooto is a CPQ and sales proposal solution that runs natively on Salesforce.com and other cloud-based CRMs.
CNET ChannelOnline™ is a hosted application with an ecommerce storefront that automates the sales cycle from quote to purchase order. Products from leading suppliers are visible from a single dashboard. At the foundation of ChannelOnline is DataSource™, CNET’s product data solution, which is...
The Determine (formerly Selectica) Configure Price Quote Configuration Engine is designed to provide a customizable CPQ solution to cover an enterprise's need to offer many possible permutations of combinations of product and service in a streamlined fashion.
PROS Smart CPQ automates and simplifies the configuration, pricing and quoting process for a sales team, empowering them to instantly create accurate, personalized solutions for each customer. The vendor says what makes Smart CPQ different is the unique combination of dynamic pricing science with...
EosCPQ is a cloud-based configuration, pricing, and quoting software solution offered by Verenia. EosCPQ includes features such as a powerful rules engine, dynamic product visualization options, and web lead generation with product configuration / quote forms.
The Experlogix Configure, Price, Quote (CPQ) solution enables your sales team to customize complex quotes and orders with 100 percent accuracy, leading to gains in revenue and profitability. With unique capabilities such as guided selling, rapid line-item creation and automated bill-of-material...
Apparound is a mobile Configure, Price, and Quote solution, which provides access to sales materials, generates offers and facilitates deals closure.
Cincom CPQ™ is a configure-price-quote platform. Beginning with product configuration, this CPQ software then creates real-time pricing and quoting of those configurations, and delivers a proposal on the spot. The vendor says that this platform is designed to improve the buying experience for...
CPQ OnDemand is sales configuration software that integrates with CRM solutions. The software generates instant budgetary quotes, and customizable, signature-ready sales proposals.
BlueprintCPQ is a cloud-deployed configuration, pricing, and quoting software solution.
CloudSense CPQ is a configuration, pricing, and quoting software solution available natively on the Salesforce platform.
Configure One is a CPQ and e-catalog tool that allows users to visualize complex product configurations in 2D and/or 3D, and generate quotes and orders based on valid configurations. Configure One integrates with ERP, CRM, and CAD systems. It also includes features for manufacturers, including bill...
Infor Configure Price Quote (formerly Product Configuration Manager [PCM] or Product Configurator) is based on technology acquired with TDCI Inc in 2013.
LogicBox CRM is a cloud-based customer relationship management (CRM) software built around sales force automation, lead management, and pipeline forecasting capabilities.
Maria Pergolio, VP of Marketing at Apttus, filled us in on the benefits of Apttus’ Quote-to-Cash solution, which operates behind the scenes on the Salesforce platform. According to Pergolio, users might not even realize that they are using Apttus—and in her eyes, this is a beautiful adaptation of the product.