Best CPQ Software (2024) for streamlining sales processes

From my own experience, I can say that Configure, Price, Quote (CPQ) software has helped our company speed up the process of bidding and making proposals. It speeds up the whole process, from when a person tells you what they need to when you give them a full quote. CPQ software has been very helpful for our sales staff in speeding up the sales process, making sure our quotes are accurate, and building stronger relationships with customers.

Because of these software solutions, we can understand what our customers really want and give them prices that are perfectly tailored to their needs. We’ve also found that these CPQ products are either built on top of the CRM software we already use or are made to work well with one or more of the CRM tools we already have. This integration has made our sales processes even more efficient.

What is CPQ software?

Configure, Price, and Quote is the abbreviation for CPQ. CPQ software is a sort of technology that is designed to simplify and automate the process of creating complicated items or services, determining the costs of those products or services, and providing accurate and individualised quotations or proposals for individual customers. It is a typical practise in fields where numerous options, configurations, and price variants are required for the items or services being offered.

Best CPQ Software Comparison Table

Configure, Price, and Quote is the abbreviation for the programme known as CPQ. It is essential for companies because it helps streamline the sales process by helping sales teams to swiftly generate accurate quotations that include the appropriate specifications and pricing. This makes it a significant tool for organisations.

Best CPQ Software

The very best CPQ software should make it simple to configure items or services, have the capacity to implement dynamic pricing, provide guided selling tools, integrate with CRM systems, and have the capacity to produce professional quotations and proposals.

The CPQ software streamlines the quotation process by automating it, which helps to reduce errors and maintains pricing uniformity. Additionally, it instructs sales staff on how to efficiently upsell and cross-sell products, which ultimately results in increased sales productivity.

Salesforce Revenue Cloud

I have used Revenue Cloud and can say that it’s a powerful tool for promoting profitable growth through flexible revenue cycle management, no matter the sales channel or business. This platform connects all the points of contact with customers that have to do with the product-to-cash processes in CRM.

This makes it possible to create recurring revenue streams, improve the buying journey for customers, and lower running costs. Revenue Cloud is very useful because it is based on the best CRM and has automation, intelligence, and real-time data built right in. Revenue Cloud includes three products: Salesforce CPQ, Salesforce Billing, and Salesforce Subscription Management. These tools work together to make the whole revenue process easier.

HubSpot Sales Hub

Improve your sales process with Sales Hub, a flexible and easy-to-use sales CRM that has changed the way I do business. It has strong sales analytics, tools for engaging with salespeople, and CPQ features, which makes it a great choice for teams that are growing. I’ve seen personally how this integration brings together customer data, important tools, and collaborative teams to create a single source of truth.

When sales reps use the full CRM tool, I’ve seen that they can get more detailed insights, interact with warmer leads, and easily align with enablement materials, which ultimately helps them do their best work. My experience with Sales Hub has been nothing but great, and I strongly suggest it to companies that want to speed up their sales processes.

Apttus

One of the most striking characteristics of Apttus is that it integrates faultlessly with the tools that are already available in Microsoft Office. This is made possible by Apttus’s X Author technology. This integration makes the process of making price quotations much easier, which is something that I found to be pretty convenient on a personal level. Specifically, I was able to save a lot of time.

The cloud-based CPQ software that Apttus provides, which is distributed using the SaaS model and is said to incorporate AI capabilities drawn from the Microsoft Azure Learning service, is another aspect of the company that caught my attention and led me to get interested in it. This connection, which provides the programme with the potential to provide prescriptive data and recommendations, contributes to an overall improvement in the CPQ experience.

IBM CPQ

From my own experience, IBM CPQ is a flexible option that works well with many different types of sales channels, such as partner sales, direct sales, and customer self-service. This adaptability is very helpful for big companies with teams that work in different places because it speeds up the process without requiring a lot of work up front, like copying price engine rules or dealing with complicated inheritances.

In addition, IBM CPQ can be localised to work with different areas of the world, which makes it a useful tool for global businesses. Adopting IBM CPQ software can be very helpful for companies that already use IBM solutions, especially when it comes to online shopping. It works well with IBM solutions that are already in place, making them even more effective and efficient overall.

Conga CPQ

The ability to maintain a single, unified pricing book, discounting structure, and quoting system across all of our sales channels is one of the most important aspects that I’ve found to be of great value. This helps to maintain consistency and eliminates any uncertainty that may arise, for both our team and our customers.

Our company’s sales specialists are able to manage orders, invoices, and revenue in an efficient manner throughout the whole sales pipeline. This is made possible by their ability to process multiple data sets in a seamless manner. Our overall efficiency has significantly increased because to the simplification of this process.

Benefits of using CPQ software

CPQ (Configure, Price, Quote) software has a lot of important advantages for businesses, such as:

• More efficient sales: CPQ software speeds up the sales process by automatically setting up complicated goods or services. This cuts down on the time it takes to make quotes, which lets sales teams answer customer questions faster.
• Accurate Pricing: CPQ software figures out prices based on rules that have already been set, and it makes sure that sales and discounts are applied properly. This cuts down on price mistakes and problems.
• Better Sales: Many CPQ tools have guided selling features that help sales teams find upsell and cross-sell possibilities. This raises the average deal size and overall revenue.
• Better Experience for Customers: CPQ software lets sales teams give customers accurate, professional quotes that are tailored to their needs, which makes the buying process better.

How to Choose the Right CPQ Software for Your Business?

Picking the correct CPQ (Configure, Price, Quote) software for your company is very important as it can affect how well you sell, how happy your customers are, and how much money you make. Here is a step-by-step guide to help you choose the best CPQ software for your business:

• Look at what you need: First, figure out what your business needs. Figure out what business you’re in, how complicated your goods or services are, and what sales problems you commonly face. Think about things like the number of configurations, price variations, and sales platforms you have to deal with.
• Write down your goals: Figure out what you want to achieve with CPQ software. Some common goals are to boost sales, cut down on mistakes, make more money, and make the customer experience better.
• Make a plan: Set a spending limit for the CPQ tools you want to buy. Think about both the one-time costs and the ongoing costs, like membership fees, setup, and training.
• Look into and narrow down your choices: Find out more about the different CPQ software options available. Find options that work for your business type and size. Make a list of the choices that look like they’ll work for you.
• Ask for trials and demos: Get in touch with the companies that make CPQ software and ask for product trials and demos. You can figure out how easy the software is to use and whether it meets your needs by using it yourself.

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