Infor CPQ is a Configure, Price, Quote software that optimizes the sales cycle by automatically converting a pricing strategy into filtered quote options for users. The software lets users quote products or services with the possibility of integrating useful add-ons, allowing for expanded reach and more streamlined conversion opportunities.
Infor CPQ is part of Infor CloudSuite CRM integrations, a comprehensive suite of cloud-based management products that users can tailor to meet the needs of industry-specific markets. It provides a variety of customization options, such as enterprise-focused platforms, add-on capabilities, and custom price adjustments, to name just a few.
Why this product is good
Positives of Infor CPQ Software
Product Details
What is Infor CPQ?
Infor CPQ’s product configuration software allows manufacturers to automate sales and engineering processes, freeing sales and engineering teams to concentrate on new product development.
Features include:
- Visual configuration with product imagery
- Quoting and ordering system with customization and visualizations
- Automated manufacturing instructions
- Guided upsells
- Enterprise system integrations
- Centralized platform access
- Extensible developer tools
- Integration with Infor Birst®
Visual configuration: Infor CPQ makes it easy to configure complex products, provides a self-service quoting and ordering experience, delivers dynamic ‘images’, ‘drawings’ and ‘CAD’ models, generates personalized proposals, and is accessible anytime, anywhere on any device.
Quoting and ordering: The visual selection quoting and ordering experience helps customers customize products to their specifications. With built-in pricing and engineering approval workflows, manufacturers can streamline their sales process by eliminating costly errors and duplication of effort while speeding up the sales cycle.
Automated manufacturing instructions: Build 2D drawings or 3D representations of products and their assemblies for a precise visual guide to the final assembly team. Generate bill of materials (BOM) and detailed kitting instructions in real-time, and incorporate these guidelines into the fulfillment process through seamless ERP integration.
Guided upsells: Throughout the process of selection, configuration, and pricing, reps can access real-time profit projections for each sale. They’re equipped with resources designed to help them propose accessories, features, and bundles with higher margins or larger order value. This enables them to provide recommendations that align with both margin goals and the needs of the customer.
Enterprise system integrations: Automate your quote-to-cash workflows by integrating Infor’s powerful quoting tool with external enterprise solutions, whether hosted in the cloud, on-site, or through a blend of both, using Infor’s sophisticated platform-as-a-service (PaaS) solution and its API gateway.
Centralized platform access: Infor CPQ’s unified single sign-on (SSO) system centralizes access to the platform, so your team always has immediate, comprehensive, organization-wide visibility to enhance communication efficiency.
Extensible developer tools: Infor provides optional developer tools and CPQ rules that enable you to create a tailored buying/selling experience with minimal programming effort. This can range from a user-friendly, consumer-grade web interface and efficient forms to business processes that serve as alternatives to customizations.
Integration with Infor Birst®: Infor CPQ integrates with Infor Birst®, a business intelligence and analytics platform, for actionable insights that drive business decisions and inform sales strategies.
What are the advantages of using CPQ?
Infor CPQ’s Benefits
Infor cloud solutions are based on Amazon Web Services (AWS), which offers world-class infrastructure in many locations, with security and stability in the service. Infor’s industry-specific CloudSuites® include pre-assembled options to enable your business to make a seamless transition to Infor systems.
Benefits of Infor CPQ include:
- Helps manufacturers increase sales and reduce costs
- Simplifies the configuration of complex products
- Visual configuration increases online conversion rates
- Reduces product returns
- Helps buyers identify their needs before reaching out to sales
- Helps businesses provide a unique and engaging customer experience for highly customizable products
- Easy to modify business logic and forms to sync with complex pricing models
What industries are CPQ solutions best suited for?
Infor CPQ for Industries
Infor CPQ is designed to address the challenges Manufacturing companies face when quoting customizable products and services. Here’s how it caters to them:
Industrial Manufacturing
Visual Configuration: Infor CPQ offers a visual configurator that allows sales reps to guide customers through product options using an easy-to-understand interface. This can include features like 3D models and filtering based on valid configurations, ensuring accuracy and a smoother sales experience.
Rules-Based Logic: The software enforces business rules regarding product compatibility and pricing. This eliminates errors and ensures that quotes are always valid based on pre-defined parameters.
Integration with CRM: Infor CPQ integrates with Infor CRM, allowing sales reps to access customer data and past interactions while configuring products. This streamlines the process and facilitates the creation of personalized quotes.
Discrete Manufacturing
Streamlines Product Configuration: Infor CPQ offers visual tools and guided selling to ensure accurate product configurations for discrete manufacturers.
Automates Pricing and Quoting: The software automates pricing rules and generates faster, more accurate quotes based on configurations.
Cloud-Based Accessibility: Infor CPQ can be accessed anywhere on any device, allowing for remote sales and configuration.
Prices
Infor CPQ Pricing
The price of Infor CPQ is not published online. Contact their sales department for pricing.
Is there anyone else out there?
Competitors and Alternatives to Infor CPQ
There are several competitors to Infor CPQ, each with its strengths and weaknesses. At the enterprise level, businesses need features like advanced pricing and configuration abilities, scalability, and team collaboration. Other important factors to consider include price, integrations, ease of use, and customer support.
Top 3 Infor CPQ Alternatives
Salesforce CPQ
Salesforce CPQ offers a real-time dashboard-style solution within a cloud platform. It is packed with features like pricebooks, product catalogs, and discount rules. Plus, it integrates with Salesforce CRM so you can manage customer data and quotes all in one spot. That gives sales teams lots of advantages – including being able to configure quotes and proposals quickly, more accuracy and efficiency, and smoother approvals.
DealHub CPQ
Part of the DealHub Platform, DealHub CPQ has a user-friendly interface with 24/7 customer support. With DealHub CPQ, you can quickly configure quotes that fit each customer’s need perfectly and are sent to your CRM automatically. Quotes can be generated in a variety of formats too, like DealRoom, Word, Excel, or PDF, so they’re compatible with any device or platform. Automated workflows speed up approvals to help sales teams close deals faster.
Oracle CPQ
Oracle CPQ is a recently updated platform that provides visual UX and multiple currency support. Oracle CPQ not only enables companies to increase the efficiency of their sales cycles but also provides peace of mind. As a Quote-to-Cash management solution, Oracle CPQ uses automated configurations and real-time pricing to generate quotes and sales proposals–taking the guesswork out of whether or not you’re giving your customers accurate information.
Valuable Insight From Real Customers
Gartner Peer Insights
Infor CPQ has a rating of 4.8 out of 5 stars on Gartner Peer Insights. In their reviews, users note the software’s flexibility and visual configurator. However, some users mention that software documentation and version control could be improved.
The reviewers and customer demographics are as follows:
Reviewer’s Company Size
- Less than $50M: 18%
- $50M-$1B: 55%
- $1B-$10B: 27%
Reviewer’s Industry
- Manufacturing: 65%
- Consumer Goods: 21%
- Construction: 8%
- Miscellaneous: 2%
- Other: 5%
Reviewer’s Deployment Region
- North America: 76%
- Europe, Middle East, and Africa: 20%
- Asia/Pacific: 3%
- Latin America: 1%
Gartner Peer Insights affirms that Infor CPQ robust and flexible product features and excellent customer support, as cited by the featured review on their site.
FAQs
Common Questions and Answers
Infor CPQ integrates with Infor CRM, allowing sales reps to configure products, access quotes, and generate orders directly within the CRM interface. This streamlines the lead-to-order process, eliminates manual data entry, and ensures valid configurations, leading to faster quotes and improved customer experience.
Infor CloudSuite CRM integrates with multiple ERP (Enterprise Resource Planning) and BI (Business Intelligence) systems for in-depth insights and analytics.
Infor provides packages for Aerospace & Defense, Fashion, Food & Beverage, Healthcare, Corporate, Distribution, Manufacturing, and Service industries.
Infor offers a wide range of products, including, but not limited to, Talent Management, Enterprise Management, and Supply Chain Management systems.
Summary
Infor CPQ’s Summary
Infor CPQ is a comprehensive Configure, Price, Quote software that offers various features and benefits. For those who can dedicate time to exploring and tailoring the system to take advantage of the entire offering, Infor CPQ is a solid pick.
Rhonda Bavaro excels in boosting SaaS companies’ growth through innovative content marketing, thriving in the dynamic sales tech industry amidst evolving technologies that drive revenue acceleration.
