I’ve seen countless businesses grapple with lengthy sales cycles, dragging down their growth and bottom line. The quest for a solution often leads to CPQ (Configure, Price, Quote) software, a powerful tool designed to eliminate these roadblocks. With that, another hurdle often emerges: choosing the right CPQ solution that fits your specific needs perfectly.
As your guide through this complex landscape, I understand the challenges and the crucial need for an effective solution. In today’s competitive sales environments, the importance of CPQ solutions is undeniable. These tools are vital for any business aiming to enhance operational efficiency and maintain a competitive edge. CPQ technology simplifies complex sales processes, enabling your sales team to focus more on engaging customers and less on tedious administrative tasks.
This article delves into a comparative analysis of the top CPQ providers of 2024, illuminating how these platforms can transform your sales operations. By the end of this guide, you’ll be equipped to make an informed decision about which CPQ solution best aligns with your business needs, setting you on the path to streamlined sales success. Let’s get started!
Overview of the Top 6 CPQ Solution Providers
1. Salesforce CPQ
Salesforce CPQ hosted within the Sales Cloud is a cloud-based software solution specifically designed to streamline and automate the quoting process. It empowers businesses to generate accurate and professional quotes quickly and efficiently, even for complex products and configurations.
Some of its key features include:
- CPQ Favorites: Save frequently used product bundles or quote line groups for faster and more consistent quoting.
- Quote Line Groups: Organize quotes with logical groupings based on variables such as shipping location, product type, or date range.
- Twin Fields: Simplify data entry by automatically populating fields in the quote based on selections made elsewhere.
- Product and Price Rules: Automate complex pricing scenarios with customizable rules based on product combinations, quantities, or customer attributes.
- Guided Selling: Enhance the sales process with a guided approach that recommends relevant products and services based on customer needs.
- Automated Renewals: Streamline subscription renewals with automated processes for generating renewal quotes and managing pricing changes.
- Contracted Pricing: Automatically apply pre-negotiated discounts and pricing terms to quotes for existing customers.
- Multi-Dimensional Quoting Products: Handle complex product configurations with the ability to define product variations based on multiple dimensions.
2. ConnectWise Sell
This CPQ solution shortens quote creation time with features like customizable templates, automated data sourcing, and smooth integration with PSA software. It excels at handling intricate quotes, making it ideal for businesses with complex product offerings.
This CPQ solution streamlines the process with:
- Pricing Rules: Automate complex pricing scenarios with rules based on product combinations, quantities, or customer attributes.
- Procurement Automation: Streamline the purchase order process by automatically generating orders for approved quotes.
- IT Reporting: Gain insights into your IT sales performance with reports on key metrics (availability may vary depending on the specific ConnectWise Sell plan).
- Online Quotes: Deliver professional quotes electronically with real-time collaboration features for faster approvals.
- Product Configurator: Visually configure product bundles and generate accurate quotes based on customer selections (optional add-on).
- Renewal Reminders: Automatically generate reminders for upcoming subscription renewals to ensure timely customer engagement.
3. Unanet CRM (formerly Cosential CPQ)
Tailored for the AEC (Architectural Engineering and Construction) industry, Unanet CRM offers industry-specific functionalities for streamlined quoting. Its modern interface and scalability make it user-friendly and adaptable to growing businesses. Additionally, it prioritizes customer success with features that extend beyond basic quoting.
This CPQ solution offers:
- Built for AEC: Streamline workflows with pre-built templates for common project types, ensuring efficient quoting.
- Project Management Integration: Connect seamlessly with your project management software for data consistency and improved project visibility.
- Costing & Budgeting Tools: Generate accurate estimates and proposals based on historical data and industry benchmarks.
- Collaboration Features: Foster teamwork with built-in communication and document-sharing tools for all project stakeholders.
- Industry-Specific Reports and Analytics: Gain insights into project win rates, profitability, and sales pipeline performance with relevant reports and dashboards.
- Mobile Accessibility: Manage key CRM functions like quotes, contacts, and project details on the go with the mobile app.
4. Oracle CPQ
This cloud-based platform utilizes a guided selling approach to help sellers configure product bundles and generate accurate quotes. It caters to customer needs by offering features that tailor quotes to specific requirements, while also providing valuable insights through advanced analytics and reporting. Oracle CPQ is particularly scalable for large enterprises with complex quoting demands.
Here’s what sets it apart:
- Automated Configurations: Reduce errors and streamline complex product configurations with rule-based or visual approaches.
- Guided Selling: Assist sales reps in recommending the most relevant products and services based on customer needs.
- Subscription Ordering: Efficiently manage recurring revenue streams with dedicated features for subscription pricing and renewals.
- Real-time Pricing: Eliminate delays and ensure accurate quotes with dynamic pricing that reflects current product costs and promotions.
- Intelligent Deal Management: Leverage AI-powered insights to optimize pricing strategies and improve deal closure rates (limited availability, may require additional modules).
- Dynamic Workflows: Automate repetitive tasks and streamline the sales process with customizable workflows.
- Contract Management: Create, manage, and track contracts electronically within the CPQ platform for improved efficiency.
5. Conga CPQ (Formerly Apttus CPQ)
As a core component of Conga’s Revenue Lifecycle Cloud, Conga CPQ focuses on maximizing profitability through accurate and efficient quoting. Its open architecture allows for easy integration while promoting standardized revenue processes across teams. Conga CPQ ultimately helps build stronger customer relationships and maximizes lifetime value.
Here are some highlights:
- Intelligent Product Selection: Leverage features like product search, comparison tools, and recommendations to guide solution selling and ensure accurate quotes.
- Streamlined Configuration: Combine configuration validation with dynamic questionnaires and product rules for error-free product selections and accurate pricing.
- Advanced Pricing Automation: Utilize features like price optimization, promotions, and price transparency tools to create competitive quotes with automated workflows.
- Flexible Order Management: Manage one-time purchases, subscriptions, and renewals seamlessly with features like asset-based ordering, subscription orders, and single billing for a unified experience.
- Enhanced Sales Efficiency: Approval workflows, dynamic questionnaires, and guided selling tools empower reps to close deals faster and with greater accuracy.
6. SAP CPQ
Designed for seamless integration with the SAP ecosystem, this CPQ solution simplifies complex product configurations with an intuitive interface. It empowers both internal sales teams and external partners to handle intricate quotes and generate effective proposals. SAP CPQ offers flexibility across sales channels (e-commerce, CRM, ERP) and leverages the value of existing SAP investments within your organization.
Here are some key features:
- Advanced Configuration Management: Optimize product configuration with rule-based logic or leverage SAP Variant Configuration for complex scenarios.
- Automated Margin Management: Ensure profitability with features that protect and potentially expand margins during the quoting process.
- Seamless SAP Ecosystem Integration: Integrate effortlessly with SAP ERP and CRM (C/4HANA) for a unified quote-to-cash experience.
- Real-time Data Synchronization: Benefit from synchronized data across SAP systems for accurate pricing and product availability.
- Automated Workflows: Streamline repetitive tasks and approvals with customizable workflows for efficient quote generation.
- In-depth Reporting & Analytics: Gain valuable insights into sales performance and identify optimization opportunities with robust reporting tools.
CPQ Solutions: Key Features, Pros, Cons, and Price
Key Features
| Feature | Salesforce CPQ | ConnectWise Sell | Cosential CPQ | Oracle CPQ | Conga CPQ | SAP CPQ |
|---|---|---|---|---|---|---|
| Native Integration | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
| Guided Selling | ✓ | x | x | ✓ | x | x |
| Visual Product Configuration | ✓ (Advanced) | Optional Add-on | Optional Add-on | x | ✓ | x |
| Advanced Pricing Rules and Automation | ✓ | Basic | Moderate | ✓ | ✓ | ✓ |
| Subscription Management | ✓ | Limited | ✓ | ✓ | ✓ | ✓ |
| Mobile Capabilities | Separate App | Native App | Limited Access | Separate Integration | Separate App | Native App |
| Deployment Options | Cloud | Cloud & On-premise | Cloud & On-premise | Cloud & On-premise | Cloud & On-premise | Cloud & On-premise |
| Robust API Access | ✓ | Limited | Moderate | ✓ | ✓ | ✓ |
| Sales Analytics & Reporting | Robust | Basic | Moderate | Robust | Robust | Robust |
| Data Security | Advanced (SOC 2, HIPAA) | Standard | Standard | Standard | Standard | Standard |
Pros and Cons
| CPQ Solutions | Performance | Integration Capabilities | User Experience | Scalability |
|---|---|---|---|---|
| Salesforce CPQ | Pros: Handles complex configurations, efficient. Cons: Cloud-based can experience latency issues. | Pros: Seamless with Salesforce CRM, robust API access. Cons: Limited native integrations with other CRMs. | Pros: Easy-to-use interface, intuitive for non-technical users. Cons: Advanced features may require training. | Pros: Highly scalable for large enterprises. Cons: May be overkill for small businesses. |
| ConnectWise Sell | Pros: Fast quote generation. Cons: Limited scalability for very large datasets. | Pros: Integrates well with ConnectWise Manage. Cons: Limited API access compared to others. | Pros: The native mobile app provides convenient access. Cons: The interface can be cluttered for complex quotes. | Pros: Scalable for growing businesses. Cons: Limited for extremely large or complex data volumes. |
| Cosential CPQ | Pros: Optimized for the AEC industry, efficient for common workflows. Cons: May lack performance for highly complex quotes. | Pros: Integrates with Salesforce CRM and HubSpot with moderate API access. Cons: Integrations with other platforms may require custom development. | Pros: User-friendly interface, caters to AEC workflows. Cons: Limited customization options compared to some competitors. | Pros: Scalable for growing businesses. Cons: May require additional resources for highly customized implementations. |
| Oracle CPQ | Pros: Handles large datasets well. Cons: Cloud-based can experience latency issues. | Pros: Integrates with Oracle ERP (Cloud Applications Suite). Cons: Limited API access compared to Salesforce or Conga CPQ. | Pros: The guided selling approach simplifies quote creation. Cons: The interface may be less intuitive for beginners. | Pros: Highly scalable for large organizations. Cons: Cloud-based model may not be suitable for all compliance requirements. |
| Conga CPQ | Pros: Efficient for complex pricing models. Cons: Can be resource-intensive for large deployments. | Pros: Integrates with Salesforce CRM and MS Dynamics 365, robust API access. Cons: Integrations with niche platforms may require additional work. | Pros: Focuses on user experience, and clean interface. Cons: The mobile app is a separate purchase. | Pros: Highly scalable for large organizations. Cons: Can be resource-intensive for very large deployments. |
| SAP CPQ | Pros: Integrates seamlessly with the SAP ecosystem for fast processing. Cons: May require additional configuration for optimal performance. | Pros: Integrates seamlessly with SAP ERP and CRM, with robust API access. Cons: Limited native integrations with non-SAP systems. | Pros: Native mobile app, intuitive interface for SAP users. Cons: May require SAP expertise for advanced configuration. | Pros: Highly scalable for large organizations within the SAP ecosystem. Cons: Limited scalability for non-SAP environments. |
Pricing
Pricing for CPQ solutions can be complex and vary depending on factors like features, deployment options, user count, and contract terms. It’s crucial to contact vendors directly for accurate quotes.
| CPQ Solution | Pricing Model | Value for money |
|---|---|---|
| Salesforce CPQ | Per user, per month | Can be cost-effective for large enterprises with complex needs. Consider user volume and potential customization costs. |
| ConnectWise Sell | Per user, per month | Affordable for growing businesses. Evaluate included features and potential add-on costs. |
| Cosential CPQ | Per user, per month | Competitive pricing for AEC-focused businesses. Assess if industry-specific features justify the cost. |
| Oracle CPQ | Tiered pricing based on features and user count | Powerful for large organizations, but pricing may be high. Consider TCO (Total Cost of Ownership) including implementation and ongoing support. |
| Conga CPQ | Tiered pricing based on features and user count | Flexible pricing for various needs. Evaluate scalability and potential for future growth. |
| SAP CPQ | Tiered pricing based on features and user count | Well-suited for SAP environments, but pricing might be high for non-SAP users. Consider integration costs if using non-SAP systems. |
Note: CPQ pricing varies based on features, users, and customization. Expect upfront licensing costs with additional charges for implementation, training, and ongoing support.
Comparison Table
| CPQ Solution | Customer Base | Market Share | Ranking | Suitable For | Integration Focus | Ease of use |
|---|---|---|---|---|---|---|
| Salesforce CPQ | 3,044 | 21.46% | #1 | Complex sales with high volume, advanced needs. | Salesforce CRM | Easy |
| ConnectWise Sell | 1,215 | 8.57% | #2 | Growing businesses with simple to moderate complexity. | ConnectWise Manage | Easy to Moderate |
| Cosential CPQ | 1,135 | 8.00% | #3 | AEC firms with industry-specific workflows. | Salesforce CRM & HubSpot | User-friendly |
| Oracle CPQ | 1,095 | 7.72% | #4 | Large organizations with complex pricing and ERP integration needs. | Oracle ERP (Cloud Applications Suite) | Moderate |
| Conga CPQ | 909 | 6.41% | #5 | Flexible solution for diverse needs and scalability. | Salesforce CRM & MS Dynamics 365 | Moderate |
| SAP CPQ | 748 | 5.27% | #6 | Businesses heavily invested in SAP ERP and CRM. | SAP ERP & CRM | Moderate |
Why Do Businesses Choose Salesforce CPQ?
The CPQ landscape can be crowded, but why settle for second best when you can have the undisputed champion in your corner?
Salesforce CPQ is a market leader in the CPQ (Configure, Price, Quote) space, consistently recognized for its robust functionality and seamless integration with the Salesforce CRM platform.
Here are some key reasons why businesses choose Salesforce CPQ:
- Market Leadership: With over 3,044 customers and a commanding 21.46% market share, Salesforce CPQ is the most widely adopted CPQ solution globally. This extensive user base translates to a mature product with ongoing development and strong support. Also, Salesforce isn’t just leading the CPQ race; it’s been #1 in the CRM world for 11 straight years.
- Integrated Ecosystem: As part of the Salesforce Revenue Cloud, Salesforce CPQ seamlessly integrates with your existing Salesforce CRM data. This eliminates data silos and ensures a unified view of the customer journey, fostering collaboration and streamlining workflows.
- Subscription Management: In today’s subscription-driven economy, Salesforce CPQ offers dedicated features for managing recurring revenue streams. This includes functionalities for subscription pricing, automated renewals, and insightful reporting, empowering you to optimize your subscription strategy.
- Actionable Insights: Salesforce CPQ empowers data-driven decision-making with robust reporting and analytics tools. Gain real-time visibility into your sales pipeline, identify trends, and unlock valuable insights to optimize pricing strategies and improve win rates.
Salesforce CPQ is the complete package – it’s powerful, and integrated with the best CRM on the market.
Decision-Making Criteria: Choosing the Right CPQ Solution
Selecting the right CPQ (Configure, Price, Quote) solution requires careful consideration of several factors. Here are key criteria to guide your decision-making process:
1. Business Needs and Complexity
- Evaluate your sales complexity. Do you require basic quoting or advanced features like product configuration and guided selling?
- Consider if industry-specific functionalities are essential for your business.
- If you manage subscriptions, ensure the CPQ solution integrates seamlessly with your subscription model.
2. Integration Capabilities
- Prioritize seamless integration with your existing CRM platform to avoid data silos and streamline workflows.
- If you utilize an ERP system, ensure the CPQ solution integrates for efficient data exchange between quoting and order fulfillment.
3. Ease of Use and User Adoption
- Choose a user-friendly interface that minimizes training requirements and fosters user adoption by sales reps.
- Evaluate the level of customization available to tailor the CPQ solution to your specific workflows.
4. Scalability and Future Growth
- Consider your company’s growth trajectory and choose a CPQ solution that can scale to meet future needs without significant disruption.
- Evaluate whether cloud-based or on-premise deployment is best suited for your security and infrastructure requirements.
5. Cost and Total Cost of Ownership
- Explore pricing models offered by different vendors and consider user-based or tiered pricing structures.
- Factor in the potential costs associated with initial setup, data migration, and user training.
- Evaluate long-term costs associated with ongoing support and maintenance needs.
Additional Considerations
- Ensure the CPQ solution adheres to relevant data security and regulatory compliance standards.
- Research the vendor’s track record, customer support responsiveness, and commitment to ongoing product development.
By carefully evaluating these factors alongside your specific business needs and future goals, you can confidently select the optimal CPQ solution that empowers your sales team and streamlines your quoting process.
Final Thoughts
Remember, the best CPQ isn’t a one-size-fits-all solution. By carefully considering your business needs, integration requirements, and future growth plans, you can make an informed decision. Utilize the decision-making criteria and CPQ comparisons outlined in this blog to guide your selection process.