About This Constellation ShortList™
Configure, Price, Quote (CPQ) software automates the sales-to-close process to ensure quote accuracy, delivery speed, and deal margin/profitability. CPQ solutions sit in between the Finance and Sales departments of an organization and need to have the robust financial calculation capabilities yet maintain ease of use for sales to quickly generate and manage quotes and proposals. CPQ can be a powerful solution to ensure compliance, maintain pricing consistency and some even manage the contracts process. In this update, guided selling capabilities were given additional importance during vendor evaluations. Constellation clients have expressed how the value-guided selling paths in CPQ solutions have helped sellers decrease quote mistakes and increase product revenue by adding often forgotten complementary solutions to the quote.
Constellation’s report on CPQ found that organizations had an average time savings of 300% by using CPQ solutions compared to manual quoting processes. With overall B2B sales cycles lengthening, organizations deploying CPQ have experienced improved sales cycles with faster quote delivery, improved quote accuracy, and increased average deal sizes. Based on the report’s findings, Constellation recommends organizations with global complexity, multiple distribution channels of 25 or more sellers consider investment in a CPQ solution.
For more information on the 10 benefits of CPQ and the insights from CPQ users, download the research report, The CRO’s Guide to Sales Acceleration with Configure Price Quote.
Constellation considers the following criteria for these solutions:
- Ease of use, user interface
- Deal optimization/profitability modeling capabilities
- Integration into CRM systems
- Broad geographical reach for multi-language/currency support
- Workflow management
- Guided selling
- Sales accessibility
- Analytics and role-based reporting
- Post-sales support and community
The Constellation ShortList™
Constellation evaluates over 20 solutions categorized in the Configure Price Quote market. This Constellation ShortList is determined by client inquiries, partner conversations, customer references, vendor selection projects, market share, and internal research. Other considerations include vendor has broad geographical reach to support multi-currency/language considerations, and manage the complexity around multiple lines of business to support growth.
- Infor CPQ
- Oracle CPQ Cloud
- PROS Smart CPQ
- Salesforce CPQ
Frequency of Evaluation
Each Constellation ShortList evaluation will be updated every 180 days as needed.
Constellation clients may work with the analyst and research team to conduct a more thorough discussion of this ShortList. Constellation can also provide guidance in vendor selection and contract negotiation.
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