Oracle CPQ is a Configure, Price, Quote software that enables companies to increase the efficiency of their sales cycles by functioning as a Quote-to-Cash management solution. Oracle CPQ uses automated configurations and real-time pricing to generate quotes and sales proposals, ensuring that sellers can quickly and reliably provide their clients with accurate, up-to-date information and prices on all of their products.
Oracle CPQ is a cloud-based application that integrates with CRM (Customer Relationship Management) systems so that companies can automate processes at virtually every stage of the sales cycle, from lead to cash.
Why this product is good
Positives of Oracle’s CPQ software
- You can easily navigate, work with, and understand the GUI system. Point-and-click functionality allows even beginners to use it.
- Oracle CPQ handles the entire process, from design to pricing, without requiring human input at any point. You don’t need to have a lot of knowledge to implement it once you know what your parameters are.
- Almost any business, regardless of its size or product, can find a use for Oracle due to its customization capabilities. Even with complex orders, the software continues to operate at high speeds.
What is Oracle CPQ?
Oracle CPQ is a cloud-based software application that helps businesses automate the quote-to-cash process. It provides a centralized repository for pricing, product, and customer data, and uses this information to generate accurate quotes fast.
- AI-based price optimization
- Guided selling
- Real-time quote collaboration
- Discounting and deal management engine
- Multi-site document designer
- Full integration with leading CRM systems
AI-based price optimization: Oracle CPQ provides salespeople with intelligently designed pricing and discount information, such as optimal price determination, average selling price (ASP), last price paid, and other relevant deal comparisons that can help streamline pricing variability. This allows your sales team to focus on identifying customer needs and building stronger relationships.
Guided selling: Sales teams are equipped with the skills and knowledge to identify customer needs and offer relevant product suggestions. Additionally, customers have access to self-service tools that guide them through a wide range of configurable ordering and purchasing processes.
Real-time quote collaboration: Your sales team can sell and interact with customers in real time from any device and remotely configure products or services according to customer preferences.
Discounting and deal management engine: In-depth deal analysis which takes into account metrics such as cost, discounts, margins, and profitability allows you to align sales activities with corporate objectives and focus on closing the right deals. With features like price scoring, last price paid data, KPI deal comparison, historical trends information, and predictive win optimization data available at your fingertips, you can maximize margins and boost win rates.
Multi-site document designer: Automate the documentation creation process across multiple languages. Create comprehensive documentation, including proposals, custom-branded quotes, and contracts.
Full integration with leading CRM systems: By embedding CPQ functionality natively within your CRM solution, sales teams can quickly and easily access customer order histories and create, modify, or send quotes from a single screen. This makes the entire process simpler and more streamlined.
What are the advantages of using CPQ?
Oracle CPQ’s Benefits
There are many benefits to using Oracle CPQ. A few of the most notable benefits include:
- Saves time
- Streamlines quotes
- Provides analytics insights
- Reduces errors in quotes and proposals
- Improves deal margins
- Accelerates sales velocity
Oracle CPQ Pricing
The price for Oracle CPQ is $240 per user per month.
Is there anyone else out there?
Competitors and Alternatives to Oracle CPQ
There are several competitors to Oracle CPQ, each with its features and benefits. At the enterprise level, businesses need features like advanced pricing and configuration abilities, scalability, and team collaboration. Other essential factors to consider include price, integrations, ease of use, and customer support.
Top 3 Oracle CPQ Alternatives
Praised for its support network, SAP CPQ is easy to use and reliable, with high ratings for product capabilities, contracting, and cost management. SAP CPQ allows for a wide range of customization options to enable sales teams to create a seamless buying experience for their customers.
Rated highly for capabilities and ease of implementation, IBM CPQ comes with a very easy-to-understand interface that makes it especially user-friendly. It provides a central repository for product information and pricing and gives sales representatives the ability to quickly generate accurate quotes for customers. IBM CPQ can also automate pricing and discounting rules, ensuring that quotes are always compliant with company policies.
Salesforce CPQ is a cloud-based solution that integrates with existing Salesforce software for easy use. This CPQ is jam-packed with features that simplify and automate nearly every process, from creating a quote to signing a contract. Users praise Salesforce CPQ for its ability to enable sales teams to plan, price, quote, negotiate, communicate, and finalize deals with ease.
Valuable Insight From Real Customers
Gartner Peer Insights
Oracle CPQ has a rating of 4.3 out of 5 stars on Gartner Peer Insights. In their reviews, users note the software’s flexibility and ease of integration. However, some users mention that software documentation and support could be improved.
The reviewers and customer demographics are as follows:
Reviewer’s Company Size
- Less than $50M: 4%
- $50M-$1B: 48%
- $1B-$10B: 31%
- Over $10B: 15%
- Gov’t/PS/Ed: 3%
- Manufacturing: 23%
- IT Services: 11%
- Telecommunications: 11%
- Healthcare and Biotech: 8%
- Other: 48%
Reviewer’s Deployment Region
- North America: 37%
- Asia/Pacific: 27%
- Europe, Middle East, and Africa: 23%
- Latin America: 13%
Gartner Peer Insights affirms that Oracle actively solicits feedback on the product in an effort to make improvements to the functionality of their CPQ software, as cited by the featured review on their site.
Common Questions and Answers
CPQ (Configure, Price, Quote) tools are software solutions that enable companies to deliver accurate quotes and sales proposals for potential clients.
They are especially useful in B2B sales, where order volume and complexity typically tend to be quite high.
Oracle CPQ provides a clean and efficient interface that enables sales professionals to configure the correct selection of product options needed to meet customers’ needs.
The value of CPQ tools lies mainly in their ability to increase efficiency within sales departments by automated processes that employees would otherwise need to do manually. In fact, research indicates that sales cycles are 28% shorter when using CPQ tools.
Yes. The two go hand-in-hand. When used together, CPQ and CRM can help sales teams close deals more quickly and efficiently. CPQ can automate the creation of quotes, while CRM can provide visibility into the sales pipeline and customer data. This combination can help businesses win more customers and grow their revenue.
Oracle CPQ supports large volumes of data, so it is well-suited for industries where order complexity is high due to a large number of available products, materials, or components, such as in the fashion, manufacturing, or tech industries.
Yes. Oracle offers a range of products and services to suit your company’s needs, such as database cloud services, advertising, supply chain management solutions, and more.
Oracle CPQ’s Summary
Oracle CPQ is a robust software solution with a polished user interface and an impressive configuration engine capable of dealing with complex B2B sales. While it might take some time for users to get up to speed with this software, it is a powerful tool for ambitious enterprises intent on multi-channel selling.
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