6 Best CPQ Software for Enterprise Businesses in 2022
Studies have shown that 50% of sales reps in large enterprise sales organizations are wasting their time on error correction, and other manual tasks such as data entry and writing price quotes. They are heavily relying on spreadsheets and use other outdated tools to create generic or incorrect quotes. If you need to scroll through tens of thousands of lines of data to find the exact product that you’re looking to add to your quote, errors are easy to make and secondly, to continue to replicate. If that sounds like the situation that is currently occurring in the sales department of your large-scale enterprise company, then there is a better way. The time has potentially arrived for your organization to consider a CPQ (Configure – Price – Quote) software solution to streamline and modernize your quoting procedure.
At Pricefx, we’ve spent the last decade in the business of providing native-cloud CPQ and pricing software solutions to enterprise-level businesses like yours. So, with that comprehensive level of experience in the CPQ space, we look forward to providing you with a ‘best-of-the-rest’ review list of CPQ software vendors currently out there.
Let’s dive straight in to analyze precisely what CPQ software is and what it does, and list out the best CPQ options for you to consider (other than Pricefx of course).
Reviewed: 6 CPQ Software Tools for Enterprise Businesses
Here are the Top 6 CPQ Software vendors that are designed for larger, enterprise businesses (although some of the tools may also suit smaller national and regional companies).
Note, most of these CPQ software vendors do not list their prices on their website, but most can arrange a free demo to learn how the tool can help you and identify the use case for your company and arrange your unique pricing from there.
And of course, please note that the reviews in this article are based upon information available to the public, including information gathered from publicly available reviews, rankings, and testimonials from CPQ software comparison sites, G2 and Gartner.
We recommend that you undertake your own additional research in combination with the information supplied below to reach your own CPQ Software decision, or check out our recent article –”Is CPQ Software Right For Me?”.
Please also note that any other company trademark is owned by those companies and not by Pricefx. Nothing in this article is intended to suggest any affiliation with or sponsorship by companies other than Pricefx.
1. Salesforce CPQ
Price: N/A – Pricing information can be obtained directly from Salesforce.
Description: Salesforce CPQ is a native Salesforce tool (guaranteeing the standardization of the data throughout the entire customer life cycle), designed for sales teams to create personalized and accurate quotes. It allows for centralized cloud-based access to your company’s products, services, available prices, and customer data allowing for significant productivity improvements.
- Direct Sales Channel
- ERP Integration
- Order Management
- Propose and Negotiate
- Reseller Channel
- Self-Service Channel
Unique value: Salesforce CPQ is widely known for its ease of integration with other systems, but has won over a lot of fans by being able to store client and sales data in the same location, creating cohesive sales teams.
2. PROS Smart CPQ
Price: From $60 per user, per month for a basic package, contract PROS for ultimate package costs. Complete pricing information can be obtained directly from PROS.
Description: PROS Smart CPQ automates and simplifies the configuration, pricing and quoting process for a sales team, empowering them to instantly create accurate, personalized customer solutions. The vendor believes what makes Smart CPQ different is a unique combination of dynamic pricing science with configuration and quoting capabilities.
According to the vendor, PROS can help sales growth and customer teams to accelerate the quote-to-cash efficiency by as much as 70%.
- CRM Integrations
- Guided Selling
- Creation of Bills of Materials (BOMs)
- AI-Driven Churn Detection (Ultimate Version Only)
- AI-Driven Cross-Sell/Up-Sell Recommendations (Ultimate Version Only)
- Microsoft Excel Import/Export
- Price List Management
- Price-Discount Waterfall
- Product and Solution Bundling
- Product Catalogue
- Product Comparison
- Quote Analytics (Advanced & Ultimate Versions Only)
- Multi-level Quote Approvals
- Rules-Driven Price Recommendations
Unique value: PROS is amongst the leaders in first-generation on-premises pricing vendors in data science capabilities, due to their sophisticated segmentation engine (science algorithm), and in their CPQ software the use of AI in churn detection and upsell/cross-sell identification.
3. SAP CPQ
Price: N/A – Pricing information can be obtained directly from SAP
Description: SAP CPQ is a great solution for customers requiring accurate and real-time quotes. With an intuitive configuration process, SAP CPQ delivers provides a user-friendly experience by empowering sales teams and partners to offer their customers complex product configurations, professional proposals, and optimized pricing. Businesses can connect SAP CPQ to their e-commerce, CRM, or ERP platform, enabling sales reps to remove order errors. Furthermore, it helps sales reps generate proposals and provides customer & channel-specific pricing. Like many other CPQ systems, SAP also helps to improve business insights to maximize sales opportunities, optimize pricing, and increase cross & up-selling. Its top features include configuration optimisationoptimization, margin protection & expansion, and seamless connectivity.
- Configuration Optimization
- Guided Selling
- One Click sales proposals
- Maximize upselling/cross-selling opportunities
- Protecting & expanding margins.
- Intelligent Negotiation
- Easy Integration
Unique value: Whilst SAP CPQ has a range of excellent CPQ functionality, arguably, the primary unique value of the tool is its easy integrations with a range of systems allowing for a faster than average time to value, not to mention user-friendly proposal generation.
4. Epicor (formerly KBMax)
Price: Epicor starts at $100 per user/per month, with volume discounts starting at 100 users or more.
Description: Epicor began business life as KBMax until the name change in May 2021 following a company takeover. Epicor is primarily a CPQ pricing solution that is designed for e-commerce businesses, direct sales organizations, distributors, and dealers. While Epicor does have some pure pricing software functionality, that feels like an afterthought. It is CPQ where Epicor really shines as it has been created for businesses of all sizes that are looking to improve their buying experience, streamline manufacturing processes, and expedite the sales cycle. The product configurator feature supports complex business rules, real-time pricing, and integration. The CAD automation and 3D visualization tools allow users to make 3D drawings and models of their configured products.
- Dynamic Pricing
- Integrated CPQ Software
- Advanced Rule Engine
- 2D/3D Visual Configuration of Your Products
- Cloud-based Platform Management
Unique value: Fans of Epicor love the software’s unique ability to produce their own engineering models and 3D product drawings to boost sales, while others may prefer a more user-friendly CPQ tool.
5. Oracle CPQ Cloud
Price: N/A – Pricing information can be obtained directly from Oracle.
Description: Oracle CPQ Cloud is designed to improve the efficiency of sales processes (and see which deals have the highest probability of closing) plus improving the customer experience by fully automating the sales order process.
It a broad-based solution including Oracle CPQ Cloud for Channel Partners, Oracle CPQ Cloud for eCommerce and Oracle CPQ Cloud for Mid-Market. The order management features of Oracle CPQ Cloud integrate with CRM systems and more than 20 ERP systems including SAP, Oracle E-Business Suite, Oracle JD Edwards, Infor LN, Microsoft and other systems. Oracle Cloud CPQ features product configuration rules, the ability to manage renewals agreements with a Salesforce integration and reduce contact compliance risk and pricing errors.
- Automated & Intuitive configurations
- Guided selling
- Intuitive integration
- Subscription ordering
- Real-time pricing
- Pricing support
- Deal management
- Automated workflows
- Document design
- Contract management
- Personalized Documents
- Electronic signatures
Unique value: Possibly the greatest advantage that Oracle CPQ Cloud has over many other CPQ software solutions are the seamless integrations that are possible with any number of tools with a minimum of fuss to customize your user experience.
6. Conga CPQ
Price: N/A – Pricing information can be obtained directly from Conga CPQ
Description: Conga CPQ is a relative newcomer in its current corporate format having been bought by Apttus in May 2020. With Apttus having a solid background in quote-to-cash solutions, the partnership with Conga has transformed the foundational elements of their business to a new level of excellence.
Conga is now set up to empower organizations to improve their business operations, streamline workflows and deliver documents more effectively in the changing digital economy. By eliminating manual processes and driving better selling behaviors, Conga CPQ lets sales reps generate extremely large and complex quotes faster and more accurately, ultimately leading to bigger deals at a higher win rate.
- Approval Process Control
- Workflow Approvals
- Automated Quoting
- Client Portal
- Collaboration Tools
- Contract/License Management
- Discount Management
- Document Management
- eCommerce Management
- Guided Selling
- Pricing Management
- Product Configurator
Conga offers a seamless user experience within Salesforce throughout all phases of the revenue cycle—from proposals to contract management to renewals—for an intuitive end-to-end CPQ solution.
Why is Pricefx Writing About Its Competitors in the CPQ Software Space?
Pricefx was founded in 2011 when our CEO and co-founders discovered that the traditional pricing software and CPQ software space was underserviced and underperforming.
At that time, pricing and quoting was performed mainly in Excel and was a drawn out and manual error-prone process.
Most of the pricing and CPQ software available at that time was server-based (what is known as on-premise) even though it was clearly apparent that native cloud was the secure future rather than a box of on-site servers sitting in the corner of your office. Even more than a decade ago, it was clear then that the cloud would provide the kind of inherent flexibility and faster implementations that customers had been looking for from their CPQ and pricing solutions.
By listening to the marketplace, it provided the pioneering Pricefx team with the possibility to build what enterprise businesses wanted from their CPQ and pricing software systems.
Large-scale businesses like yours and medium and small organizations alike were looking for flexibility and CPQ software to enhance the customer experience and improve service delivery. As the 2010s wore on, focus was shifting to not only retaining customers, but also producing satisfied and loyal ones.
Pricefx understood that retaining customers — and acquiring new ones — came down to providing an enriching customer experience and building good experiences that make for a good relationship. As such, our real-time CPQ led the way for price quotes and contracts to evolve into a method for companies wishing to maintain great relationships with their customers.
What’s more, the Pricefx system is part of a complete pricing solution that encompasses price optimization and management, pricing analytics, sales compensation, and managing your rebates, promotions and agreements in an easily CRM-integrated ‘one stop pricing shop’.
Sales compensation is a key differentiator in that it is a fantastic way for your salespeople to gauge how they’ll make money and can serve as an indicator of how your organization will grow its revenue by:
- Empowering your salespeople to sell within your price margin guidelines
- Close larger deals,
- Or alternatively close more deals depending on your company’s specific need.
To remain competitive in a modern business environment, your business will need a way to monitor the prices of your rivals. With Pricefx pricing analytics software, you can monitor and decide whether to match prices, undercut them, or initiate any number of strategies that would give you the best chance of achieving a sale with the highest margin.
Using analytics, you are empowered to monitor your own prices too on your different sales channels, all while getting a better understanding of your customer’s buying habits, and gain insight into how different customer groups behave when deciding to buy your products.
We understand that nailing your price quoting offering is all about flexible configurations, accuracy, personalization, and timeliness for your customers. With Pricefx’s leading native-cloud CPQ solution, our customers can deliver an unparalleled speed and level of quotation service that is personalized to the needs of their clients and their personalized circumstances, not to mention easy integrations with other tools like SAP and other CRMs.So, why are we writing about other CPQ Software Solutions? Because we created our own industry-leading native-cloud CPQ software category based entirely on the needs of the customers.
As the CPQ market-leader (top-ranked CPQ Software on the Gartner Review Site with a score of 4.7 out of 5 and also a high ranking of 4.4 of 5 with G2), we’d like you to know from our position as an industry leading expert about the CPQ choices that you are considering for your organization.
Learn About Pricefx’s Recent Award-Winning Exploits Here
As an integral part of the CPQ and pricing industry evolution and being a constant innovator, we would like you to know from the horse’s mouth what else is out there in today’s modern CPQ space without any BS.
What is Your Enterprise Company’s Go-To CPQ Software?
Outside of Pricefx, now you know the next-best 6 CPQ Software Tools for enterprise companies out there today, you have all the information required to select the right CPQ software that best fits for company’s unique needs and set of business requirements.
If you’re interested in a CPQ software solution that you can combine with a total price management, analytics and real-AI-informed optimization solution that is future-proofed and native-to-the-cloud to truly augment your pricing in an efficient manner, then you’ll want to go with us here at Pricefx.
And to help you make your decision, we have made it easy for you to read the differences for yourself between Pricefx and some of the other pricing and CPQ software out there with these in-depth pricing software comparison articles:
If you are still unsure of the total needs that your enterprise business will require and if it will be pricing software or a pure CPQ solution, then check out our recent blog article below;