About This Constellation ShortList™
Configure, Price, Quote (CPQ) software automates the sales-to-close process. These tools help improve the accuracy of quotes, assure compliance with discounting and margin policies, accelerate the internal deal review process and provide customers with detailed quotes far more quickly than manual processes allow. CPQ solutions sit between the Finance and Sales departments, connecting finance data and policies with sales processes to generate and manage proposals. CPQ tools lighten the workload for salespeople and give customers better information faster. They also help to ensure pricing consistency and can increase revenue through guided selling suggestions for complementary services or products. Some tools manage the contract process as well.
As the popularity of CPQ tools increases, so has the number of specialist CPQ providers. Various CPQ vendors focus on IT resellers, insurance and manufacturing, for example. For the purposes of this Constellation ShortList, we’ve focused on the vendors that provide CPQ capabilities across a broad range of industry sectors.
Constellation’s 2017 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 and 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 report at: http://bit.ly/2tMxZA5
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
- SAP Sales Cloud 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.