About Configure Price and Quote (CPQ) Software
CPQ software is an enterprise software application used by end-users (including B2B and B2C businesses) to bring together activities such as configuring, quoting, and pricing of their products. The software helps ease the process of quoting of products made through make-to-order (MTO) and assemble-to-order (ATO) production methods. The low price of CPQ software has made it affordable for many SMBs in developing countries such as India, China, and Brazil to adopt CPQ software for pricing and quoting.
Technavio’s analysts forecast the global configure price and quote (CPQ) software market to grow at a CAGR of 14.53% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global configure price and quote (CPQ) software market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Configure Price and Quote (CPQ) Software Market 2017-2021
Technavio recognizes the following companies as the key players in the global configure price and quote (CPQ) software market: Apttus, Callidus Software, FPX, Oracle, PROS, and Salesforce.com.
Other Prominent Vendors in the market are: Aspire Technologies, Cincom Systems, ConnectWise, IBM, Infor, Model N, SAP, and Vendavo.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increase in mobility solutions. The growing adoption of mobile devices and smartphones and the rising popularity of mobile apps have increased the efficiency of CPQ software. With the ubiquity of smartphones and tablets and the increasing adoption of mobility solutions among end-users, accessing CPQ software features through smart devices is increasing rapidly.”
According to the report, one driver in the market is increasing need for higher productivity. The CPQ software helps sales management personnel to improve their productivity by reducing the dependency on tedious paperwork and documentation. It speeds up the process of pricing and configuration and also helps organizations reduce their overall cost in pricing. CPQ software, especially cloud-based CPQ software, also help organizations save time. For instance, vendors such as Salesforce help enterprises to scale up their pricing and selling strategies in very less time compared with on-premises applications.
Further, the report states that one challenge in the market is lack of coordination among business units. Many organizations fail to implement CPQ due to the lack of coordination among their business units. The implementation of CPQ software requires the coordination and participation of multiple business units within an enterprise. Sales teams play a major role and take the initiative for the implementation of CPQ software in a company. The implementation of CPQ software by sales teams without proper consultation with the other departments/business units such as IT, product management, and finance can lead to the failure of CPQ software implementation.
Apttus, Callidus Software, FPX, Oracle, PROS, Salesforce.com, Aspire Technologies, Cincom Systems, ConnectWise, IBM, Infor, Model N, SAP, and Vendavo.