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
- Cloud-based workflow with third-party integrations
- Automated and personalized documentation
- 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.
Cloud-based workflows: The wide array of third-party integrations expands the capabilities and value of this robust CPQ solution. With this software, you can automatically turn quotes into orders and generate manufacturing information that integrates with your other applications for accuracy.
Automated and personalized documentation: Create accurate documents, sales quotes, proposals, BOMs, shop orders, and change orders.
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
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
CPQ stands for Configure, Price, Quote and is used to automatically generate quotes for customers based on product and service selection input.
CPQ applications are usually part of CRM (Customer Relationship Management) systems and work with other technologies and integrations that complement and streamline the customer management process.
Ensuring customers can access accurate and relevant quotes based on updated data is vital to a company’s sales process. Automating quote generation allows the sales team to have a centralized platform for all customer quotes and orders, leading to more efficient conversion.
The flow of actions in most CPQ processes are as follows: first, the CPQ system is configured by the sales team with the prices, add-ons, and rules, then customers use the platform to receive relevant quotes. The sales team follows up and generates or negotiates proposals which are then moved along to order confirmations.
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.
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