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Conga CPQ

Conga CPQ empowers sales, partners, and customers to efficiently configure complex products and services offerings, and provide personalized prices and quotes, utilizing codified product and pricing information - ensuring higher w...Read more about Conga CPQ

Salesforce CPQ & Billing

Salesforce CPQ is part of a software suite designed for small, midsized, and enterprise organizations that are focused on reaching sales goals and streamlining customer support. Salesforce CPQ helps reps and partners configure com...Read more about Salesforce CPQ & Billing

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Cincom CPQ

Cincom CPQ is a configure, price, quote, (CPQ) solution built especially for manufacturing companies and other businesses offering complex products and services. Both cloud-based and on-premise deployment options are available. Ke...Read more about Cincom CPQ

4.4 (8 reviews)

3 recommendations

Oracle CPQ

Oracle CPQ Cloud provides businesses a way to automate the Configure, Price, and Quote (CPQ) process and produce 100% accurate quotes. Oracle CPQ helps users choose the optimal products based on their customers' needs; confi...Read more about Oracle CPQ

4.4 (8 reviews)

CIS Configurator

CIS Configurator is a cloud-based tool for large and midsize manufacturing businesses. It helps automate configuring, pricing and quote generation. It can operate as a standalone solution using its own SQL database or integrate wi...Read more about CIS Configurator

Technicon CPQ

Tacton CPQ is a configure, price, quote solution that helps businesses in the manufacturing industry generate quotes, proposals, and bid packages. The guided sales tools enable users to provide products, services, pricing, and bun...Read more about Technicon CPQ

4.7 (3 reviews)

SolSuite

SolSuite is a cloud-based configure price and quote (CPQ) management solution that helps sales teams to automate their quotation routines and manage interactions with clients SolSuite provides sales teams with tools such as disco...Read more about SolSuite

5.0 (2 reviews)

4 recommendations

Epicor CPQ

Epicor CPQ ensures every configuration is accurate, profitable, and optimized from an engineering standpoint. It then automatically calculates pricing and generates a quote. Finally, it generates CAD drawings and bills of material...Read more about Epicor CPQ

4.5 (17 reviews)

4 recommendations

PandaDoc

PandaDoc is an all-in-one tool to create, edit, send, track, and eSign documents quickly and easily. Discover a better way to generate professional-looking and error-free proposals, quotes, and contracts with PandaDoc. Win more de...Read more about PandaDoc

4.5 (1089 reviews)

7 recommendations

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Experlogix CPQ

Experlogix is a cloud-based configure, price and quote (CPQ) management solution designed to help businesses manage orders and quotation process. It serves both B2B and B2C marketing and sales teams across a range of industries in...Read more about Experlogix CPQ

4.4 (10 reviews)

2 recommendations

Estimo

Estimo is a cloud-based configure, price, quote (CPQ) solution that helps businesses across various industry verticals to manage their estimation related activities and routines. Estimo allows users to re-use relevant estimat...Read more about Estimo

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Quotient

Quotient is a cloud-based configure-price-quote (CPQ) solution that caters to small businesses across various industry verticals and helps users to create, send and manage professional quotes. Key features include contact manageme...Read more about Quotient

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iQuoteXpress

iQuoteXpress (IQX) is a sales proposal automation solution that reduces the time and costs it takes to make sales quotes by more than half. Used across almost every vertical—tech, real estate, manufacturing, education, and more—IQ...Read more about iQuoteXpress

4.8 (21 reviews)

5 recommendations

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Quoter

Quoter is a cloud-based solution designed to help service-based businesses manage the entire quoting lifecycle using electronic signature capture, tracking, CRM, accounting and automation tools. Key features include pricing manage...Read more about Quoter

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PROS Smart CPQ

PROS Smart CPQ is a cloud-based artificial intelligence platform that helps sales teams automate and personalize sales activities to deliver products at the right prices. The platform enables businesses to respond to customer quot...Read more about PROS Smart CPQ

4.5 (2 reviews)

QuoteWerks

QuoteWerks is a configure, price, quote (CPQ) solution that can be used in any industry for creating sales quotes and proposals. QuoteWerks integrates with customer management solutions like ACT!, ACT! for Web, Autotask, Connect...Read more about QuoteWerks

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LogicBox

Logicbox is cloud-based business management software that is suitable for small to midsize companies in a variety of industries. It offers a suite of business management modules and functions that can be configured to incorpo...Read more about LogicBox

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DealHub

DealHub offers a unified platform that helps businesses generate quotes and contracts, connect with prospects, and access buyer insights. The platform was designed using a revenue amplification approach that helps close the gap be...Read more about DealHub

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Expedite Commerce

Expedite Commerce is a cloud-based Revenue Operations and Management platform that serves sophisticated businesses in SaaS, Manufacturing, XaaS (anything-as-a-service), IoT, Communications, and B2B subscriptions. We offer a produ...Read more about Expedite Commerce

ResponsiBid

ResponisBid is an online bidding and selling solution that helps small size field-service businesses provide service quotes to potential customers. ResponsiBid enables users to automate bidding and follow-up of service reques...Read more about ResponsiBid

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Buyers Guide

Last Updated: November 07, 2023

These days, business clients expect instant price estimates when they contact manufacturers for quotes. Providing a quote upon initial inquiry has now become much more streamlined and is no longer a significant bottleneck in the sales cycle. This is due in part to the rise of configure-price-quote (CPQ) software.

We’ve created this guide to help you understand what CPQ software is and how it can benefit your business. In this guide, we’ll cover:

(Click on a link below to jump to that section.)

What Is CPQ Software?

Common Features of CPQ Solutions

What Type of Buyer Are You?

Pricing Models

What Is CPQ Software?

CPQ software is used by sales professionals to provide cost estimates for custom orders, often in the context of a built-to-order manufacturing operation. With a CPQ solution, a salesperson can use requirements, order volume and other details from the client to generate an estimate on the spot. It is critical for streamlining the sales process and ensuring that sales prospects do not fall through the cracks because they did not receive a prompt estimate.

CPQ software often integrates with a manufacturer’s customer relationship management (CRM) system, and in some cases with their material requirements planning (MRP) system, further streamlining the sales-to-manufacturing process. In other situations, the CPQ solution might be one module within a broader CRM or MRP suite.

Common Features of CPQ Solutions

Although each system is likely to have its own unique characteristics that may make it a better or worse fit for your business, there are a handful of core features common to most CPQ solutions. In the table below, we take a look at those common features you’ll find in most products:

Analytics

Provides detailed reports and data, typically in a dashboard format, of sales KPIs and other business metrics of how the CPQ system has been used in the past. Some platforms can do forecasting or other predictive analytics to gauge what future sales and configurations will be like.

Guided selling

Sales professionals can easily find suitable products automatically, based on the client’s needs and requirements.

Price and quote

The core feature of a CPQ system, price and quote sets the price based on a client’s requirements and delivers the quote to the client.

Renewal management

Assists sales professionals in maintaining standing orders or renewed orders with their clients.

Product configuration

Allows businesses to set logic rules for how products can be configured and what degree of customization a customer can choose.

Mobile compatibility

Many CPQ platforms offer mobile compatible apps for sales professionals that are on the go. These apps are usually just as fully featured as their desktop counterparts.

Salesforce-Steelbrick-price-quoting-on-iPad

Salesforce Steelbrick price quoting on iPad. Source: SteelBrick.com

What Type Of Buyer Are You?

CPQ software is most often used by midsize and larger organizations with extensive product lines or those that offer a large degree of customization for customers when ordering.

The types of businesses most likely to deploy a CPQ solution usually have large sales teams who must be continuously kept in the loop about product changes and development. CPQ software is also used by sales teams that have trouble managing and neatly organizing a large volume of custom sales orders and inquiries.

That said, smaller businesses that are growing rapidly may wish to deploy CPQ software, as it can give them a competitive edge by enabling them to quickly turn around price quotes back to customers.

Pricing Models

Most modern CPQ systems are cloud-based and typically priced as a monthly subscription, based on the size of the buyer's business or the number of named users. The advantages of cloud-based systems include:

  • Easier deployment (since the software is accessed online, rather than installed on the users' own local servers)

  • Shorter implementation time (for the same reason)

  • Automatic updates pushed out by the vendor (rather than the user having to install updates themselves manually)

However, some CPQ software vendors might offer CPQ software that is hosted on-premise and priced as a perpetual license. Typically with perpetual licenses, however, annual fees for support and maintenance still apply.

There are benefits and drawbacks to both pricing models. Smaller organizations tend to be attracted to the lower upfront costs associated with monthly subscriptions.

However, be aware that the total cost of ownership (TCO) of subscription-based products tends to converge with that of perpetual license-based products over time. While you'll pay less upfront for a subscription, the subscription fee recurs monthly, whereas with a perpetual license, recuring fees are much lower and tend to be less frequent (e.g. annual fees for maintenance or upgrades).