HubSpot’s CPQ tool is part of HubSpot Sales Hub. It streamlines the quoting process from creation to approval to close, making selling easy. The user-friendly tool helps sales teams quickly create accurate, professional-looking quotes. Robust templates are built into the tool to make it simple to create and send professional-looking quotes. The eSignature capability helps close deals fast.
Why this product is good
Positives for HubSpot CPQ Software
Product Details
What is HubSpot CPQ?
As part of Sales Hub, HubSpot CPQ software provides a holistic sales experience, incorporating quoting with contracts and invoicing, and subscription and order management. HubSpot is the perfect solution for businesses that need to handle large amounts of data and complex product configurations.
Features include:
- Configure Products
- Native to HubSpot CRM
- Payments Embedded in Quotes
- Connected data
Configure Products: HubSpot’s product library not only allows your team to build an inventory of customizable line items to streamline quote generation. It’s fully customizable, so sales teams can edit and create products with just a few clicks to ensure every quote is accurate and reflects current pricing.
Native to HubSpot CRM: If you’re a HubSpot CRM user and need a simple configure, price, quote tool, HubSpot CPQ is a good option. Since it’s part of Sales Hub, it pulls customer data from the CRM into quotes for a streamlined selling and buying experience.
Payment Embedded in Quotes: HubSpot’s native payments feature allows you to quickly and easily collect payments through quotes. This eliminates the need for slow integrations that drag out the sales process and restrict cash flow.
Connected Data: Sales Hub was designed to increase sales rep efficiency by uniting customer data, tools, and teams in one place. HubSpot’s dashboards give revenue teams an overview of customers and the sales pipeline for greater forecasting and visibility into revenue operations.
Advanced product library. HubSpot’s product library allows your team to assemble a versatile inventory of line items, readily available for quoting. Its fully customizable nature means products can be edited or created easily, guaranteeing your team access to the latest content with just a few clicks.
What are the advantages of using CPQ?
HubSpot CPQ’s Benefits
HubSpot CPQ enables sales professionals to quote products and services quickly and efficiently.
Benefits of HubSpot CPQ include:
- Native integration with HubSpot CRM streamlines the customer lifecycle and provides one source of truth for customer data, quotes, and deals
- Reduces quoting errors
- Helps scale revenue operations since marketing, sales, and customer support are connected within HubSpot
- Provides a good buyer experience with eSignature integrations and native payments
- Gives insights into sales pipeline and customer data to help close deals faster
- No user adoption risk — build quotes for free without learning a new user interface
What industries are CPQ solutions best suited for?
HubSpot CPQ for Industries
HubSpot CPQ is specifically designed to address the challenges that Software, IT Services, Marketing, and Professional Services companies face in the quoting process. Here’s how it caters to them:
Software and IT Services
Streamlined Quoting: HubSpot CPQ allows sales reps to quickly configure quotes with the right products and services for each customer’s needs. This eliminates manual data entry and reduces errors, leading to faster and more accurate quotes.
Improved Sales Productivity: Automating the quoting process with CPQ frees IT and software sales reps to focus on closing deals. They can spend less time on administrative tasks and more time building relationships with potential customers.
Enhanced Configurability: HubSpot CPQ lets you create product bundles, discounts, and other pricing rules specific to your IT services or software offerings. This ensures your quotes are tailored to each customer and reflect your unique pricing structure.
Marketing and Advertising
Streamlined Proposal and Quote Creation: Agencies juggle multiple client projects with varying scopes and pricing structures. HubSpot CPQ allows the creation of templates for common services, with options to customize based on client needs. This saves time compared to building proposals from scratch and ensures consistency in presentation.
Improved Accuracy and Efficiency: Manual calculations and errors in proposals can be costly. CPQ automates calculations based on pre-defined pricing rules, reducing errors and ensuring accurate quotes reach clients faster. This frees up agency staff to focus on strategic client consultations and creative development.
Professional Services
Integration with CRM Data: Since HubSpot CPQ is part of the HubSpot platform, it integrates seamlessly with your CRM data. Sales reps can access customer information and past interactions while creating quotes, allowing for more personalized proposals.
Faster Deal Cycles: By providing accurate and efficient quotes, HubSpot CPQ helps professional services companies shorten their sales cycles. Customers receive proposals quickly, and sales reps can move deals forward without delays caused by manual quoting processes.
Faster Payments: Integration with HubSpot Payments provides clients with a convenient and secure way to submit payments.
Prices
Cloudsense CPQ Pricing
HubSpot CPQ is part of Sales Hub and is available for free for HubSpot CRM users. More advanced features are available with HubSpot’s Starter, Professional, and Enterprise editions. The Starter plan is $45/month for 2 users.
Is there anyone else out there?
Competitors and Alternatives for HubSpot CPQ
There are several competitors to HubSpot 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, ease of use, and customer support.
Top 3 HubSpot CPQ Alternatives
PandaDoc CPQ
PandaDoc CPQ integrates with HubSpot CRM to help users create proposals, quotes, documents, contracts, and more. In addition, PandaDoc CPQ automation can help sales teams minimize errors in their quotes and sales workflows. With hundreds of templates available, PandaDoc helps sales reps easily create custom quotes and proposals to engage buyers. You can also customize and share digital quotes with buyers and collaborate with stakeholders in real-time to close deals quickly.
DealHub CPQ
DealHub CPQ integrates seamlessly with HubSpot to help sales reps quickly configure customized quotes. DealHub is equipped with a dynamic sales playbook that easily guides reps through the selling process. With the guided selling feature, sales representatives answer pre-determined questions and automatically build a customized accurate quote. Quotes can be generated in various formats, such as DealRoom, Word, PDF, or Excel, making them compatible with any device or platform. Automated approval workflows and contract management features help sales teams close deals faster.
PROS CPQ
PROS Smart CPQ is a configure-price-quote software that uses data to help you decide what offers to give customers, and how much to charge for them. Data science helps guide you toward making product recommendations based on customer segmentation, buying patterns, and willingness to pay. The software’s advanced guided selling feature helps sales professionals intelligently cross-sell and upsell products.
Valuable Insight From Real Customers
Gartner Peer Insights
HubSpot Sales Hub has a rating of 4.4 out of 5 stars on Gartner Peer Insights. In their reviews, users note the software’s robust sales CRM features and report customizability. However, some users mention the high price of this software as one of its disadvantages.
The reviewers and customer demographics are as follows:
Reviewer’s Company Size
- Less than $50M: 43%
- $50B-$1B: 41%
- $1B-$10B: 6%
- $10B+: 3%
- Gov’t/PS/Ed: 6%
Reviewer’s Industry
- IT Services: 22%
- Miscellaneous: 16%
- Services (non-Government): 9%
- Finance (non-banking): 7%
- Other: 45%
Reviewer’s Deployment Region
- North America: 53%
- Asia/Pacific: 29%
- Europe, Middle East, and Africa: 13%
- Latin America: 4%
Gartner Peer Insights affirms that HubSpot Sales Hub is very effective for lead and pipeline management and has many features to streamline sales cycle management.
FAQs
Common Questions and Answers
The value of HubSpot Sales Professional or any similar tool depends on your specific business needs, size, and goals. Here are a few factors to consider in assessing the ROI of this platform:
1. Features: Evaluate whether the features offered align with your sales and marketing requirements. Look for capabilities such as lead management, email tracking, and analytics.
2. Scalability: Consider whether the tool can scale with your business as it grows. It’s essential to choose a solution that can accommodate your future needs.
3. Integration: Check if HubSpot Sales Professional integrates seamlessly with your existing tools and software. Integration can improve workflow efficiency.
4. User-Friendliness: Assess the user interface and ease of use. A tool that is user-friendly can contribute to better adoption within your team.
5. Support and Training: Look into the support and training options provided by HubSpot. Adequate support and training can help your team make the most of the tool.
6. Cost: Evaluate the cost of the tool in relation to the value it brings to your business. Consider your budget and whether the features justify the investment.
7. Customer Reviews: Read reviews from other businesses that have used HubSpot Sales Professional. This can provide insights into real-world experiences.
Before making a decision, you may want to consult with your team, trial the product, or reach out to HubSpot’s sales representatives for more information.
Some CPQ software solutions that integrate with HubSpot include:
DealHub
KBMax
Quoter
ConnectWise Sell
Experlogix
Conga
CallidusCloud
Cincom CPQ
Ultimately, the best software integrations for HubSpot CPQ depend on your specific needs and goals. Consider factors like:
Complexity of your product offerings and pricing: Simpler businesses may require basic quoting functionality, while those with complex configurations and pricing models may need advanced CPQ solutions.
Sales process and workflow: Choose integrations that streamline your existing sales process and make it easier for your team to close deals.
Budget and resources: Consider the cost and implementation complexity of different software options.
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.
