Best Configure Price Quote (CPQ) Software

Best CPQ software companies are Salesforce CPQ, Oracle CPQ, SAP CPQ, PROS Smart CPQ, and Apttus CPQ. Such CPQ tools help sales representatives and self-service customers quickly develop accurate quotes for configurable products and services.

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List of 20 Best CPQ Software

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#1 CRM & support solution for growing businesses

Salesforce a CRM that offers CPQ (Configure, Price, Quote) tools for ensuring accurate pricing of any given product configuration scenario. It is an easy-to-use CPQ solution that helps sales reps quote the right prices quickly by considering discounts, quantities, customizations, and more. Make impactful pricing decisions with Salesforce CPQ. Read Salesforce Reviews

Most Reviewed

Hubspot CRM's CPQ features not only help companies with product pricing and streamline the selling process. Hubspot CPQ software assists in tracking deals, attaching line items, and building quotes, and pulls data seamlessly with connected quoting tools and CRM. It enables complete customizations that help you close more deals while struggling less. Read Hubspot CRM Reviews

Emergents | 2024

Software by DealHub Ltd

DealHub.io is a CPQ software using which you can provide winning prices. It helps you prepare customizable quotes according to different customers, apply discounts, create quotes in various formats, and so on. Learn more about DealHub

Emergents | 2024

PandaDoc offers CPQ tools that help businesses boost productivity, enhance customer experience, and save time. The software helps create a fast and easy workflow to speed up the sales cycle. Control and manage what your team will sell, simplify negotiations, and make accurate and impressive quotes in minutes with PandaDoc. Read PandaDoc Reviews

Software by Paperless Parts

Paperless Parts is an estimating and quoting (CPQ) software for manufacturing businesses. The CPQ software helps quote faster and smarter and increases profitability with its six times faster responses and consistent quoting. It also simplifies workflows by reducing manual steps, saving the valuable time of estimators. Paperless Parts centralizes information in one searchable platform for easy access. Learn more about Paperless Parts

Proposify helps modern sales teams create, send, t

Proposify is a quoting software that helps businesses streamline document workflows. It provides smart CPQ solutions for creating, sending, and e-signing quotes. It has features for interactive quoting, advanced insights, and pricing management. Proposify is a powerful and versatile software that can be integrated with CRM, accounting software, and other business tools. Learn more about Proposify

Software by Aspire Technologies

QuoteWerks is the best CPQ software to help companies and sales teams overcome quoting challenges. It provides an advanced quoting system allowing them to efficiently sell your products or services to prospects and customers. Make your quoting process faster, simpler, and easier, and ultimately level up your customer experience with QuoteWerks. Read QuoteWerks Reviews

Contenders | 2024

Efficient CPQ Software for creating quotes, contract, etc.

Oracle CPQ is a cloud-based application that helps sellers configure and create accurate, professional pricing. It provides the best CPQ tools, like automated configurations and guided pathways, to ensure your sales teams meet customers' needs. Oracle also streamlines pricing variability with automatic, real-time pricing and aligns sales activities to corporate goals with in-depth analysis. Read Oracle CPQ Reviews

AI-powered & omnichannel business management softw

Zoho is one of the top CPQ software to help businesses achieve faster sales cycles. The software provides accurate and customized bespoke quotes quickly, enabling salespeople to work efficiently and create a seamless sales process. Say goodbye to manual efforts and outdated legacy quoting systems and minimize the risk of errors in quoting with Zoho. Read Zoho CRM Reviews

Software by Oracle Corporation

Oracle Sales Cloud is a fully-featured CRM offering excellent top CPQ software solutions. It provides accurate and functional product configurations and easy-to-use screens to improve direct sales, partner sales, and customer self-service channels. Oracle Sales Cloud also reduces the back-and-forth iterations by providing anytime, anywhere support. Read Oracle Sales Cloud Reviews

Category Champions | 2024

Salesforce CPQ is one of the best CPQ providers for sales teams that want positive results without wasting time. The software helps sales teams simplify sales processes and make impactive decisions confidently by providing accurate pricing speedily. Salesforce is easy to use and can be accessed on any device as it is a cloud-based platform. Read Salesforce CPQ Reviews

Emergents | 2024

Software by Apttus Corporation

Apttus is the perfect CPQ software for bringing meaningful change into business workflows and sales processes with complex products, complicated pricing, and manual processing. It helps businesses sell more cleverly by automating and optimizing the revenue cycle and allows the sales reps to generate complex pricing faster with improved accuracy. Learn more about Apttus

Software by Qwilr

Qwilr is a powerful configure, price, quote (CPQ) software that helps sales teams quote accurate prices to customers by considering multiple selling factors at the time of sale. The software furnishes up-to-date insights on how buyers engage at the crucial buying stage and helps close deals faster. Learn more about Qwilr

Software by Infor

Infor CPQ is a cloud-based CPQ software platform that offers comprehensive and flexible CPQ solutions. It eliminates costly errors, duplication, and manual efforts, ultimately helping close more deals in less time. Infor makes the purchase procedure intuitive and error-free by capturing the knowledge of your highly variable products at once. Learn more about Infor CPQ

Emergents | 2024

Software by PROS, Inc

PROS offers brilliant CPQ software solutions to transform businesses with a spike in sales. Powered by AI and machine learning algorithms, the software provides an omnichannel selling experience backed by insightful data for improved sales execution. PROS improves the efficiency of sales reps with its user interface that provides accurate and relevant data quickly. Learn more about PROS

SAP provides the best CPQ tools to help sales teams deliver the perfect solution with fast and accurate quotes. The software quotes complex business offerings in minutes and helps enhance a richer customer experience. SAP CPQ can be connected to CRM, e-commerce, or ERP platform for better workflow integrity. Read SAP Reviews

Emergents | 2024

Software by Experlogix Inc

Experlogix CPQ software provides excellent tools that help sales teams simplify and speed up the quote and order process. The software ensures accurate pricing by controlling product and service options, available feature combinations, pricing and discounting, and automated quote processes. Experlogics also offers dynamic product visualizations and guided selling. Learn more about Experlogix

One Product, One App, One Solution

Streamline processes, enhance customer engagement! Manage leads, customers, projects, emails. Low-code, user-friendly, open APIs - ideal for all industries. Foster growth, nurture relationships, drive excellence! Read Vryno Reviews

Emergents | 2024

Web Based Fully Integrated ERP

PIC ERP software provides smart CPQ solutions. The software helps close deals faster by generating accurate quotes within minutes and streamlining your sales process. PIC CPQ is easy to use and can be implemented quickly into your business system, data, and rules to start quoting swiftly. Learn more about PIC ERP

Emergents | 2024

Model N price intelligence is one of the best CPQ providers for companies that consistently face challenges with pricing management. The software offers effective pricing strategies, real-time pricing insights, and price guidance while negotiating. Evaluate more quotes faster and make data-informed decisions with Model N. Learn more about Model N

CPQ Software Guide

What Is CPQ Software?

CPQ stands for Configure, Price, and Quote. This CPQ software helps businesses (especially sales teams) deliver accurate product alternatives and costs. Typically, salespeople generate quotes for products and services with many feature options. It is a customizable rule-based software to address multiple variables in the sales process.

To understand the CPQ meaning, consider it a sales quoting software helping companies accurately define product prices. It aggregates multiple variables affecting the sales process to help sales personnel configure products or services optimally.

This includes bundling products/services, upselling them according to costs, factoring in the competition, and local pricing. Based on all these, customers are provided with the best price possible.

The sales team can leverage CPQ to centralize, automate, and provide the correct information in real-time. CPQ solutions simplify the complex sales pipeline by meeting the configuring, pricing, and quoting needs to help generate a purchase order.

How Does CPQ Software Work?

CPQ software providers considers customer requirements and provides a product or service configuration matching their needs. It follows a unique pricing algorithm to generate accurate prices for the configuration while considering relevant product discounts.

CPQ is a solution designed for a comprehensive quoting process. It works as a proposed solution for customers. It includes product descriptions, pricing information, and delivery timelines for customers to make a purchase decision.

Moreover, its analytics and reporting capabilities help sales teams track product and pricing trends, enabling them to make data-driven decisions. 

A successful CPQ deployment focuses on simplifying the sales process in the following manner.

  1. Guided Selling

    Sales teams can use CPQ solutions for the guided selling processes to better sell consumption-configured products and design new product bundles based on the customer’s purchasing history.

  2. Smarter Approval Management

    A smart CPQ adheres to business rules, frameworks, and workflows to cut approval times and simplify the approval process.

  3. Dynamic Pricing

    94% of B2B buyers research online before purchasing, making the sales cycle longer. Therefore, the right quotation by sales representatives can move things quickly. Top CPQ software helps tailor your company's pricing strategy to its ideal clientele. Personalized prices can turn difficult markets into profitable ones like the business hospitality sector (like airlines and hotels) leverage such dynamic pricing rules to generate more sales over time.

Key Benefits of Using the Best CPQ Software

CPQ software offers a range of benefits to businesses looking to streamline the sales process by making it faster, more efficient, and offering accurate pricing.

Sales professionals can leverage CPQ tools to ensure that quotes are consistent, error-free, and address the client's pain points.

Benefits of Using CPQ Software

  1. Sales Alignment

    A sales team can pivot to personalized prices using CPQ that align better with the business goals and objectives. They can generate accurate quotes and proposals to streamline the sales pipeline, ensuring each customer receives the best possible deal.

    Market regulations can hugely impact the configuration process. But, the sales team can use CPQ to ensure that their product, price, discount, and offer information is correct.

  2. Better customer experience

    Top CPQ software uses customer data (requirements, budget, timeline, past adoption issues, etc.) to improve customer satisfaction through automated processes and improved communication. It helps customers access product configuration, price quotes, and availability.

  3. Knowledge retention & productivity 

    The sales team leverages CPQ, providing access to customer information, pricing structures, and product details. This enables every team member to stay updated on customer information, reducing the time wasted during research.

  4. Efficient sales cycles

    The business needs to know ways to maximize each sales cycle stage and push for sales. For example, if the team identifies lead qualification as its primary difficulty, it will allocate additional resources to the lead qualification phase in the sales pipeline.

    Here, choosing a sales quotation that is both precise and error-free is important.

    CPQ tool thrives in automating the most intricate aspects of proposal management, approval procedures, and discount criteria. This can bring down the manual work since the request for approval is triggered if an open quotation reaches a certain threshold.

    It is easy to generate estimates in a short amount of time. And this can unlock business growth since a 15% reduction in the sales cycle time may enhance revenue by 30%.

  5. Speed up onboarding

    CPQ software helps onboard new sales reps by providing the right training platform. It enables them to quickly generate quotes and proposals and drive productivity quickly. Usually, it takes 3 to 15 months to onboard an average sales representative. 

    Training costs range between $2,500 to $25,000 per day, depending on your company's size and the trainer's expertise. Instead, dynamic quoting and pricing tools help your sales managers onboard new sales reps 30% faster since fewer manual processes are needed to train them to start selling.

  6. Reduce repetitive work

    Sales development representatives (SDRs) and account executives (AEs) can use CPQ as important automation and focus on selling rather than spending time on manual activities. Moreover, 66% of a salesperson's time is spent on non-sales activities like keeping up-to-date information in CRM systems, preparing quotations, invoicing, etc.

    Instead, CPQ software can double the speed of the quote-to-cash process, cut approval delays by 95%, and help close sales deals where 75% of B2B firms take an average of 4 months to gain a client.

Essential CPQ Software Features You Need to Consider

Here are some key features you should consider when choosing a CPQ tool.

Features of CPQ Software

  1. Price adjustment

    CPQ tools help create sales quotes that follow predefined pricing rules applicable for scheduling automated discounting, analyzing profit margins, and computing prices. Customer data also help gauge their responses to such price adjustments and, accordingly, change the quotations using price quote CPQ software.

  2. Order capturing

    Order capturing is one of the key features of the CPQ application that enables businesses to avail of customer orders quickly. It enables quick quote generation to close the lead and automate capturing customers' orders to your CRM, which helps manage such huge orders while reducing process time.

  3. Reporting & analytics

    CPQ is a powerful sales tool that handles different functions like orders, customer data, pricing, costs, product quantities, etc. Businesses can unlock revenue growth by automating intelligence around customer data based on robust analysis.

    For instance, identify business bottlenecks by monitoring how much time approvers spend at various phases of a deal's lifecycle. Moreover, the sales team can access factors like win rates and realized prices to make informed pricing choices.

  4. Excel integration

    Businesses often use Microsoft Excel spreadsheets to customize and configure price quote CPQ. Therefore, when looking for the right CPQ software, look for Excel integration that streamlines sales operations and provides an easy way to create accurate quotes.

    Here, the CPQ software will use data stored in Excel spreadsheets to generate quotes and streamline the sales process quickly to help sales reps use the most up-to-date pricing and customer preferences information. They can create reports and analyze data to identify potential growth and improvement areas.

  5. Quote sharing/sending

    Quote sharing/sending is one of the key features of CPQ software, allowing users to quickly and easily email quotes to customers. This feature enables customizing the quote with branding and sending a PDF version for easy viewing and downloading. Such visibility ensures engaging customers and using quotation material to follow up.

  6. Guided selling

    Guided selling is a feature of CPQ software that automates customer requirements analysis by asking simple questions to determine what consumers want. The sales team can use the CPQ system to avail suitable options based on customer responses. This is useful when there is a range of products to choose from, and you need a logical path that leads customers from their needs to a specific offering.

  7. Configuration options

    Configuration options in CPQ software enable sales professionals to define the different variations of products they sell. Here, sales personnel can define a range of product attributes, pricing, and other features to personalize products for customers. 

    For instance, manufacturing companies can check for configurable options to create a range of sizes, colors, and content for a product. Such configuration options in CPQ software simplify the product configuration process by automating the custom product selection and pricing for customers.

  8. Self-service CPQ

    Blend in the self-service with a customer community and showcase your CPQ interface there to offer self-service. There isn't a clean, streamlined "Customer Only" interface like a standard online shopping cart. Still, the CPQ solution with self-service enables consumers to have a "nearly" shopping cart using a highly personalized (Visual Force, APEX Code, javascript, and CSS) interface apart from Line Editor and the Configurator.

    Except that it's all Visual Force navigation. Make customer experience more immersive by making the product configuration process highly visual for self-service.

  9. CRM integration

    A CPQ tool with CRM software can benefit a sales team since such integration allows for managing the entire sales process within a single system. It eliminates the need for separate software for data entry or cross references.

  10. E-signature

    This important CPQ software feature provides an efficient, secure, and cost-effective way to complete the entire sales process. It allows customers to electronically sign necessary documents to streamline the sales process and lead to customer satisfaction.

How To Select the Right CPQ Software?

Choosing the right CPQ software requires analysis, an understanding of team strengths, and budget planning. Begin with empowering the sales process and updating your introduction to CPQ meaning and how it can help them stay competitive while meeting customer demands.

  1. Identify your requirements

    Conduct quick research with your internal sales teams to identify which CPQ features would be most beneficial for them. Check with the sales reps and their need for product configurations, pricing adjustments, automated proposals, custom quotes, analytics, etc., to filter products.

  2. Mobile-friendliness

    A mobile CPQ helps sales teams send quotes, configure pricing, view reports, and communicate with prospects on the go.
    It enables them to stay competitive in the digital marketplace by providing customers with a fast and convenient way to access essential documents.

  3. Integration Levels

    An ideal CPQ platform offers crucial integration with other applications like Contracts, BillingOrder Management, finances, etc. Not only does it drive productivity, but it also acts as a key component of a comprehensive sales plan.

  4. Integrations

    When looking for the best CPQ software, consider the type of integrations offered — product database, ERP software, and CRM system. Some CPQ software vendors offer integrations with other marketing automation platforms, eCommerce platforms, and payment processing systems. Also, consider what is typically priced, customer support, system scalability, etc.

  5. Ease of use

    CPQ solution simplifies the process for everyone. Therefore, prioritize ease of usability, less training needs, and decluttered UI that demonstrates user-friendliness.

  6. Deployment type

    Compare various top CPQ software based on their deployment type — on-premise and cloud-based. On-premise needs installing and managing the software on computers, servers, or other hardware, making it an expensive option.

    Cloud-based CPQ solution is deployed with a minimal upfront cost and ongoing maintenance. The cloud-based configure price quote solutions help access their software online and pay a recurring subscription fee from any system.

  7. Scalability

    Gauge your CPQ tool based on flexibility, scalability, enterprise readiness, and maintenance. This help make informed decisions capable of meeting the needs of your business, even as it scales if you increase the company size.

Top 5 CPQ Tools Comparison

Name
Free Trial
Demo
Pricing

Oracle CPQ

14 Days

Yes

Starting price at $240/month

Conga CPQ

14 Days

Yes

Starting price at $35/user/month

Pricefx

14 Days

Yes

Starting price at $2,495/module//month

Tacton

7 Days

Yes

Custom Pricing

DealHub's CPQ

14 Days

Yes

Starting price at $50/month

SMEs and enterprises gradually shift to CPQ tools to streamline sales, configure complex products, and provide accurate pricing and discounts. While the global CPQ software market stood at $894.34 million in 2021, we'll look at some of the major players making the difference.

1. Oracle CPQ

Oracle CPQ

Oracle CPQ is a cloud-based solution for CPQ software designed to help businesses efficiently generate quotes. This platform provides e-commerce support and offers actionable insights with reports and analytics.

Features
  • E-commerce support
  • Approval workflow
  • Analytics
  • Catalog
  • Guided selling
  • Real-time quote collaboration
  • Pricing and rating engine
Pros
  • Easy to configure new products, and you can load products 
  • Consistent UI
  • More ability to customize and establish rules
Cons
  • More training is required to explore it completely
  • CRM of Oracle CX - Sales Cloud does not allow managing a volume of detailed information
  • Not much cost-effective

Pricing

The pricing for Oracle CPQ starts at $240.0 per month.

2. Conga CPQ

Conga CPQ

Conga CPQ helps sales teams to create complex proposals, contracts, renewals, and other critical business documents, along with efficient quoting and pricing. This is one of the best CPQ software in the industry.

Features
  • Contract/License Management
  • Discount Management
  • Progress Tracking
  • Proposal Generation
  • Customizable Templates
  • Document Automation
  • Order Management
Pros
  • Easy to merge documents
  • Quick and simple to begin with
  • Possible to constantly change and update it
  • Enables adding more users quickly through CPQ licenses.
Cons
  • Not user-friendly
  • Lightning compatibility is still a challenge
  • Pricing Callback needs expert APEX skill
  • No UI for configuration items

Pricing

Entry-level pricing starts at $35 per month per user.

3. Pricefx

Pricefx

This CPQ software, Pricefx, is tailored for those looking for a simple plug-and-play option. It allows the sales team to integrate easily with their existing systems, regardless of the business size.

Features
  • Configuration rules
  • Approval workflow
  • Pricing flexibility
  • Integration API
  • Reporting and dashboards
Pros
  • Easy of use that requires less training
  • Short time on ROI
  • Better integration with existing systems
  • Multi-agent AI approach to price optimization
Cons
  • Inconsistent performance
  • Performance issues
  • Limited consultancy ability
  • No free trials

Pricing

It begins at $2,495 per module/per month.

4. Tacton CPQ

Tacton CPQ

A powerful CPQ software that automates the design-to-sales process for industrial manufacturing with a reliable configuration system delivering a smooth digital experience.

Features
  • ERP
  • Multi-currency support
  • Multi-lingual
  • Proposal generation
  • Real-time product visualizations
  • Self-service portal
Pros
  • Easy to deploy new versions
  • Effortless product documentation maintenance
  • Quick to create cost structures
  • Armed with adding catalog items and filter options
Cons
  • Inability to modify custom UI
  • Difficult to implement at first
  • Lacks tutorials for advanced projects and solutions
  • Challenging to configure a product without passing through the customer

Pricing

Effectively offered per user after configuring pricing models.

5. DealHub CPQ

DealHub CPQ

Get accurate quotes and proposals in a flash with DealHub's CPQ software. Its collaborative sales-engagement platform streamlines the quotation process and provides real-time data on customer engagement to create quotations that drive conversions.

Features
  • Configuration Management
  • Batch Processing
  • CRM
  • Automated Quoting
  • Knowledge Base Management
  • RFP Management
  • Sales Automation
  • Template Management
  • Third-Party Integrations
Pros
  • Easy to simplify the quoting process
  • Excellent support
  • Collects digital signatures
  • Easy contract creation
Cons
  • Challenging backend
  • Offers flexibility only if you have a tactically-brilliant customer service team
  • Implementation takes a long time

Pricing

Starts from $50 depending on your requirements communicated to their sales reps.

Conclusion

CPQ applications help transform businesses through streamlined sales pipelines and configuring their products better. It simplifies the quoting process, increases accuracy, and reduces the time to close the lead.

The advantages, features, and top CPQ tools discussed above will help you make better choices. Moreover, small startups and large enterprises can use CPQ to maximize sales potential and provide top-notch customer experience.

FAQs

CRM and CPQ are different software with distinctive usage. CRM provides a strategic approach to business operations and helps manage the pre-sales process, sales activities, and sales networks. But, it does not drive sales. For this, you need CPQ software integrated into CRM. Therefore, CRM and CPQ work as complementary components of the sales cycle wherein the former has a wealth of information, and the latter offers agility and speed to push sales.

You do not need CPQ tools if your sales team manages to price and generate quotes. But if you need assistance configuring complex products and automating sales processes, choose CPQ software. Weign in potential benefits that affect ROI before investing in CPQ.

Choosing from traditional or cloud-based CPQ will hinge on the business needs. Cloud-based CPQ solutions offer better flexibility, scalability, and cost savings. But, businesses with complex requirements may find traditional CPQ solutions a better fit.

Rapidly growing companies with high order volume need automation tools to drive sales. They leverage cloud-based CPQ solutions for scalability, low hardware costs, and reduced maintenance time.

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Last Updated: January 30, 2024