24 Best CPQ Software Reviewed For 2024
10 Best CPQ Software Shortlist
Here's my pick of the 10 best software from the 26 tools reviewed.
Our one-on-one guidance will help you find the perfect fit.
Tired of spending too much time on quotes and dealing with errors in your configurations? We hear you. That’s why we’ve reviewed the 24 best CPQ software solutions for 2024, so you can find a tool that improves accuracy and reduces the back-and-forth in your quoting process.
Why Trust Our CPQ Software Reviews?
We’ve been testing and reviewing CPQ software since 2022. As revenue operation leaders ourselves, we know how critical and difficult it is to make the right decision when selecting software.
We invest in deep research to help our audience make better software purchasing decisions. We’ve tested more than 2,000 tools for different RevOps use cases and written over 1,000 comprehensive software reviews. Learn how we stay transparent & our CPQ software review methodology.
How To Choose CPQ Software
With so many different CPQ software solutions available, it can be challenging to make decisions on what tool is going to be the best fit for your needs.
As you're shortlisting, trialing, and selecting CPQ software, consider the following:
- What problem are you trying to solve - Start by identifying the CPQ software feature gap you're trying to fill to clarify the features and functionality the tool needs to provide.
- Who will need to use it - To evaluate cost and requirements, consider who'll be using the software and how many licenses you'll need. You'll need to evaluate if it'll just be the revenue operation leaders or the whole organization that will require access. When that's clear, it's worth considering if you're prioritizing ease of use for all or speed for your CPQ software power users.
- What other tools it needs to work with - Clarify what tools you're replacing, what tools are staying, and the tools you'll need to integrate with, such as accounting, CRM, or HR software. You'll need to decide if the tools will need to integrate together or if you can replace multiple tools with one consolidated CPQ software.
- What outcomes are important - Consider the result that the software needs to deliver to be considered a success. Consider what capability you want to gain or what you want to improve, and how you will be measuring success. For example, an outcome could be the ability to get greater visibility into performance. You could compare <Focus Term> features until you’re blue in the face but if you aren’t thinking about the outcomes you want to drive, you could be wasting a lot of valuable time.
- How it would work within your organization - Consider the software selection alongside your workflows and delivery methodology. Evaluate what's working well and the areas that are causing issues that need to be addressed. Remember every business is different — don’t assume that because a tool is popular that it'll work in your organization.
Best CPQ Software Reviews
Here’s a brief description of each CPQ software that showcases each tool’s best use case, outstanding features, and some pros and cons. I’ve also included screenshots to give you a snapshot of their user interface.
Dock is a sales and onboarding software that offers features like digital sales rooms, centralized content management, and other functions to standardize processes for sales and revenue teams.
Why I picked Dock: The tool is flexible to a wide range of custom products and offerings. Its digital sales room provides a centralized space to educate new leads on your product through interactive videos and other sales collateral. As prospects are guided through the customer journey, sales teams can access engagement analytics to help target and personalize their approach and finalize a deal.
Additionally, Dock supports proposal, quote, contract, and order form creation with templates to help standardize processes. These templates are also customizable to fit your unique offerings. Furthermore, the approval workflow feature allows management to provide approval on custom agreements, discounts, and large deals to ensure alignment at all levels of the organization.
Dock Standout Features and Integrations
Features include signature reminders, order form status tracking, mutual success plans for onboarding, buyer signals, custom branding, custom client portals, pricing and order forms, and repeatable follow-up processes.
Integrations include HubSpot, Salesforce, Pandadoc, Typeform, Slack, Zoom, Airtable, and more.
Pros and cons
Pros:
- Approval workflows for custom products or pricing
- Templates for important documents and processes
- Sales rooms for centralized communication and content management
Cons:
- Order form features are an add-on
- HubSpot and Salesforce integration only available on higher-tier plans
HubSpot is a comprehensive customer platform that offers a wide range of marketing, sales, customer service, operations, and content management features to help businesses of all sizes create the best experience for their customers.
Why I picked HubSpot: HubSpot's CPQ software, integrated within the HubSpot Sales Hub, assists businesses in managing their sales processes by automating the creation of quotes, approvals, and payments. The software is designed to reduce manual data entry and errors, allowing sales teams to quickly generate accurate and professional-looking quotes using customizable templates. HubSpot's CPQ also integrates seamlessly with HubSpot CRM, ensuring that all customer data, quotes, and deals are centralized, which aids in better forecasting and visibility into revenue operations.
Moreover, HubSpot's CPQ feature leverages its AI-powered platform to provide smarter, data-driven recommendations for pricing and configurations. This integration helps sales teams create more accurate quotes quickly, enhancing efficiency and customer satisfaction. Additionally, the platform supports eSignatures and embedded payments, facilitating faster deal closures and improved cash flow.
HubSpot Standout Features and Integrations
Features include customer profiles, data quality tools, lead management and tracking, document tracking, pipeline management, ticketing, email marketing, landing pages and forms for user websites, and online ad management.
Integrations include Gmail, Slack, Asana, Eventbrite, SurveyMonkey, Jira, WordPress, Stripe, and Canva.
Pros and cons
Pros:
- Automation features help streamline repetitive tasks
- Excels in lead tracking and management
- Detailed analytics and reporting
- Automation features help streamline repetitive tasks
- Excels in lead tracking and management
- Detailed analytics and reporting
Cons:
- Limited flexibility and customization
- Occasional email deliverability issues
- Limited flexibility and customization
- Occasional email deliverability issues
iQuoteXpress is a cloud-based sales proposal and quoting software designed to assist businesses in creating, managing, and tracking sales quotes and proposals.
Why I picked iQuoteXpress: iQuoteXpress provides a centralized platform for creating, managing, and tracking quotes and proposals. It provides a suite of tools for configuring products and pricing, managing contacts, and generating detailed reports. The software also features a customizable proposal generation system, which includes a library of templates and a personalized dashboard for branding purposes.
Moreover, the software integrates with existing Customer Relationship Management (CRM) and Configure, Price, Quote (CPQ) systems, allowing for synchronization of data and workflows. It also offers functionality for setting up product configurations and establishing pricing rules, which are essential for adding products to quotes. Additionally, iQuoteXpress offers tools for monitoring sales activity, with the goal of improving the accuracy and efficiency of the quote-to-cash cycle.
iQuoteXpress Standout Features and Integrations
Features include product and pricing configuration capabilities, a contact management system, proposal tracking and reporting, and eCommerce capabilities, including the ability to showcase products and services in an online catalog, manage customer accounts, and process orders.
Integrations include DocuSign, Salesforce Sales Cloud, HubSpot CRM, QuickBooks Online Advanced, Zoho Books, and Microsoft Dynamics.
Pros and cons
Pros:
- Offers customizable branding
- Provides mobile device and multi-language support
- User-friendly interface
Cons:
- Complicated process for adding vendors and partner logos
- Limited options for eCommerce management
Proposify helps businesses protect their brand assets from inconsistencies when sales reps create new quotes.
Why I picked Proposify: You can use Proposify’s framework to develop effective proposals from its library of pre-approved templates, content, fees, and images. Before sending quotes to customers, you can use the platform to organize product descriptions, sections, case studies, and graphics into folders and add filters to help everyone find what they need when they need it. You can use the mass update tool to make changes across templates to save your teams from manual edits and ensure everything remains consistent.
Proposify works well for small and medium businesses that need a simple way to create and deliver winning proposals. The software provides insights to help you scale sales processes, make effective engagements, and accurately forecast revenues. Proposify can provide a straightforward sign-off experience for customers and prospects thanks to its e-signature capabilities.
Proposify Standout Features and Integrations
Features include a content library, design editor, roles and permissions, pipeline insights, notifications, e-signature, client previews, interactive pricing, automatic formatting, a content repository, document management, and proposal templates.
Integrations include Salesforce, HubSpot, Stripe, Copper, AgileCRM, ActiveCampaign, Zapier, Trello, Zendesk Sell, Zoho, Slack, SharpSpring, Salesflare, Olark, Mailchimp, monday.com, Microsoft Teams, and Intercom.
Pros and cons
Pros:
- Wide range of customizable templates.
- Creates compelling proposals quickly.
- It sends data instantly after sending proposals.
Cons:
- The editor can be clunky.
- It’s not user-friendly for new subscribers.
Qwilr helps sales teams create custom, interactive quotes that will impress potential customers.
Why I picked Qwilr: Instead of sending endless attachments to customers, Qwilr allows you to shore quotes, pricing, and product demos with a website link. Your proposal can start as a blank page or one of the platform’s proposal templates. Qwilr’s proposal builder uses a series of blocks that you can drag and drop onto the page. Each block allows you to embed images, videos, pricing, texts, and other crucial proposal components, which are all flexible to match your customers’ screens. Each proposal within Qilr has a helpful analytics tool that will track how many views your page gets, the total viewing time per block, the number of clicks, and more vital details to help you understand your customers’ interests and priorities.
Qwilr works well for any sized business in any industry that wants to use a proposal creation tool that will keep everything consistently branded. The page editor allows you to consistently apply fonts, colors, and other collateral on every page. Qwilr also helps you close business deals faster by empowering customers to sign, pay, and upsell themselves through every interactive proposal.
Qwilr Standout Features and Integrations
Features include content creation, a no-code web editor, custom branding, a content library, notifications, buyer engagement tracking, identity authentication, automated content, dynamic personalization, centralized content, proposal templates, and workspaces.
Integrations include Zoho CRM, HubSpot, Slack, Stripe, Quickbooks, Pipedrive, Zapier, Google Analytics, Xero, Mixpanel, Hotjar, Wufoo, Olark, Retently, Pabbly Connect, and Salesforce.
Pros and cons
Pros:
- Provides useful metrics and insights.
- Simple user interface.
- Creates engaging, eye-catching proposals.
Cons:
- API access is limited to higher-tier plans.
- Tracks when colleagues open proposals.
Quoter is a platform that will help businesses save time and enhance revenues with quote development tools.
Why I picked Quoter: The tool is a quote development system that saves time, decreases errors, and promotes faster payments. Quoter is a cloud-based platform that can pull data from documents and spreadsheets into one location. The system’s quote templates allow you to configure them once and maintain a single source of truth to allow teams to create consistent quotes.
Quoter is suitable for any sized business that needs a solution to simplify the sales quote and proposal process. The software provides tools to help eliminate bottlenecks in your sales lifecycle and get paid faster. Quoter also allows you to send automated email reminders to customers about pending quotes. You can also get delivery analytics and open timestamps on the quotes you send.
Quoter Standout Features and Integrations
Features include product bundling, a product configurator, smart templates, e-signatures and agreements, product cloud, product cross-sell and upsell, payment processing, custom sales proposals, discounts, manager approvals, reporting and analytics, and email tracking.
Integrations include Salesforce, HubSpot, Agile, Highrise, Nutshell CRM, OnePage, Pipedrive, Zoho CRM, FreshBooks, Quickbooks, Mailchimp, Zapier, and Ingram Micro.
Pros and cons
Pros:
- Intuitive and easy-to-use interface.
- Simplifies quote options.
- It increases efficiency.
Cons:
- No autosave when creating quotes.
- Integrations require some troubleshooting.
Subskribe helps SaaS businesses create quotes for simple to innovative deal structures.
Why I picked Subskribe: You can use the Subskribe platform if your business regularly creates quotes for innovative deal structures quickly. No matter how innovative your quote needs are, the software can speed up deal closes by simplifying approvals with workflows, previews, and notifications. Subskribe also allows your sales reps to make simple modifications to any quote with upsells, cross-sells, and plan renewals.
Subskribe focuses on helping SaaS organizations in any market that need an all-in-one sales solution. It allows your teams to be completely transparent with deal flows that you or managers can execute instantly. Using Subskribe means your sales reps don’t have to rely on complicated workarounds to create custom quotes for every customer so they can get the deal they want.
Subskribe Standout Features and Integrations
Features include multi-year quotes, complex quote creation, versatile discounting, deal metrics, customizable terms, approval flows, deal progress tracking, email notifications, multiple pricing combinations, and reseller tools.
Integrations include Salesforce, DocuSign, and Avalara.
Pros and cons
Pros:
- Regular feature updates and additions.
- Easy to learn.
- Handles all quoting.
Cons:
- No guided selling.
- Not many integrations are available.
DealHub.io helps businesses simplify quote generation by providing real-time insights.
Why I picked DealHub.io: The platform will examine activities, prospects, and interests to help your sales reps offer precise and specialized quotes for your products. To start generating quotes, you only need to enter your products’ information and establish business rules into the system. Afterward, DealHub.io will handle everything and generate error-free quotes in multiple formats.
DealHub.io is an excellent choice for businesses that need a solution to connect every stage of their sales lifecycle. It can help enhance the quoting process by ensuring all quotes follow your business’s policies and requirements to create quotes that align with your workflows, rules, and specifications. DealHub can also help your sales reps develop and carry out personalized sales journeys for every customer across each interaction stage.
DealHub.io Standout Features and Integrations
Features include subscription management, document generation, e-signatures, sales proposals, buyer engagement, approval workflow, product configuration, guided selling, contract lifecycle management, workflow management, completion tracking, and version control.
Integrations include Salesforce, Microsoft Dynamics, Freshworks, HubSpot, SugarCRM, DocuSign, and Gong.
Pros and cons
Pros:
- Simplifies sales quote creation.
- Excellent customer support.
- It creates dynamic workflows.
Cons:
- The amount of customization can be overwhelming.
- The navigation takes time to learn.
PandaDoc is a document management platform that helps businesses create, send, and sign digital documents.
Why I picked PandaDoc: The software is an online system for managing documents that allows you to create and share documents. PandaDoc provides its Smart Content tool that automatically creates custom documents based on your customers’ use cases, industry, and size. The platform’s signature tool will collect the signatures you need by making the signing process straightforward for your customers. You can implement a signing order and assign who will receive the document based on approval requirements.
PandaDoc helps small, medium, and large-sized businesses increase productivity when it comes to creating documents such as quotes and proposals. You can use the software to encourage customers to say yes by allowing them to select from multiple options, change quantities, and talk to your team directly. Also, PandaDoc can apply discounts to your price if your customer increases the quantity of an item, which will save your reps time from searching through spreadsheets or making calculations by hand.
PandaDoc Standout Features and Integrations
Features include advanced quotes, smart content, a document repository, workspaces, signing orders, signature requests, version history, user management, document tracking, product catalogs, and audit trails.
Integrations include HubSpot, Salesforce, Pipedrive, Zoho, Copper, monday.com, Slack, Google Workspace, Microsoft Teams, Salesmate, Zapier, Integromat, Zendesk Sell, Insightly, and SugarCRM.
Pros and cons
Pros:
- Simple online document signing.
- Full document creation capabilities.
- Free forever plan.
Cons:
- Limited customization options.
- Uploading non-PDF files is complex.
Paperless Parts provides advanced analytics to help sales teams analyze data, make informed decisions, and deliver accurate quotes.
Why I picked Paperless Parts: The software will help your business analyze multiple datasets to prioritize quotes and accurately price work. Paperless Parts provides advanced analytics to help you understand why your teams are winning or losing contracts, so you can make effective business decisions. The analytics can help you identify profitable jobs and show you how your organization performs over time so you can improve operations.
Paperless Parts is suitable for small and medium manufacturing organizations that want to increase revenue and profitability. The platform’s automated part file analysis will collect information such as setup count, manufacturability warning, process-specific feature detection, and volume removal to help you create accurate quotes. Paperless Parts also uses a more straightforward and automated estimating process to help your sales reps manage risks more effectively when making a quote.
Paperless Parts Standout Features and Integrations
Features include job costing, quotes and estimates, order management, billing and invoicing, shipping management, purchase order management, collaboration and workflow tools, 3D modeling, multi-component nesting, and file sharing and storage.
Integrations include E2 Shop System, JobBOSS, JobBOSS2, Epicor, MIE Trak Pro, Infor VISUAL, Infor SyteLine, and Made2Manage.
Pros and cons
Pros:
- Identifies overlooked part features while quoting.
- Reduces quote turnaround times.
- Calculates estimated machine run times from 3D models.
Cons:
- The platform isn’t flexible.
- Working on large quotes is complex.
Best CPQ Software Summary
| Tools | Price | |
|---|---|---|
| Dock | From $49/user/month | Website |
| HubSpot | From $15/month (billed annually) | Website |
| iQuoteXpress | From $39/user/month | Website |
| Proposify | From $29/user/month (billed annually) | Website |
| Qwilr | From $35/user/month (billed annually) | Website |
| Quoter | From $99/month (billed annually) | Website |
| Subskribe | Pricing upon request | Website |
| DealHub | Pricing upon request | Website |
| PandaDoc | From $19/user/month (billed annually) | Website |
| Paperless Parts | Pricing upon request | Website |
Compare Software Specs Side by Side
Use our comparison chart to review and evaluate software specs side-by-side.
Compare SoftwareOther CPQ Software
Here are a few more options that didn’t make the best CPQ software list:
- Infor CPQ
For addressing issues
- Configure One
For large or complicated product catalogs
- Epicor CPQ
For visual configurations
- Conga CPQ
For applying AI to quote generation
- Salesforce CPQ
For custom pricing
- Zoho CRM
For task management.
- QuoteWerks
For integrating with business systems.
- AutoQuotes
For food service equipment manufacturers.
- Oracle CPQ
For eliminating sales cycle difficulties.
- CloudSense
For service businesses.
- Pricefx
For precise quote pricing.
- InMindCloud
End-to-end CPQ platform.
- vloxq CPQ
For automating quote generation.
- HubSpot Sales Hub
For enhancing CPQ processes.
- Expedite Commerce
For B2B ecommerce.
- FastSpring Interactive Quotes
For communicating pricing and packages.
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Selection Criteria For CPQ Software
Selecting the ideal CPQ software is pivotal for businesses looking to streamline their sales processes, accurately configure products, and quickly generate quotes. This choice significantly affects an organization's ability to respond to customer inquiries swiftly, manage complex pricing structures, and drive revenue operations efficiently. My approach to evaluating CPQ tools is rooted in firsthand trials and in-depth research, focusing on how well each solution aligns with the essential functions and specific use cases businesses commonly face.
Core CPQ Software Functionality: - 25% of total weighting score
To be considered for inclusion on my list of the best CPQ software, the solution had to support the ability to fulfill common use cases:
- Efficiently handling complex product configurations
- Accurately calculating prices across diverse scenarios
- Generating customizable and branded quotes rapidly
- Integrating seamlessly with existing CRM and ERP systems
- Providing insights into sales performance and quote analytics
Additional Standout Features: - 25% of total weighting score
Innovative features set apart the best CPQ solutions in the market:
- AI-driven configuration recommendations to optimize product selection
- Dynamic pricing models that adjust to market changes in real-time
- Advanced customization options for creating highly tailored quotes
- Omnichannel quoting to serve customers across various platforms
- Robust contract lifecycle management post-quote approval
Exploring and testing these functionalities reveals which CPQ tools offer capabilities that surpass basic expectations, providing unique value to users.
Usability: - 10% of total weighting score
A user-friendly interface is crucial for widespread adoption:
- Intuitive design that simplifies the configuration and quoting process
- Easy navigation and logical flow of tasks
- Responsive design for mobile and tablet use
- Customizable UI to match user preferences and workflows
Onboarding: - 10% of total weighting score
Effective onboarding ensures teams can quickly leverage the CPQ tool:
- Comprehensive training resources and support materials
- Onboarding sessions that demonstrate core functionalities
- Accessible customer support during the initial adoption phase
- Community forums or user groups for peer-to-peer assistance
Customer Support: - 10% of total weighting score
Reliable customer support is foundational for resolving issues swiftly:
- Availability of support through multiple channels
- Knowledgeable and responsive support team
- Proactive updates and maintenance communication
- Detailed documentation and help resources
Value For Money: - 10% of total weighting score
Evaluating affordability and ROI is essential:
- Transparent pricing structures without hidden fees
- Flexible pricing plans that cater to business size and needs
- Demonstrable ROI through efficiency gains and sales acceleration
- Free trials or demos to assess software value firsthand
Customer Reviews: - 10% of total weighting score
User feedback provides insights into real-world application:
- Positive experiences with software usability and feature set
- Impact on sales cycle time and deal closure rates
- Responsiveness to feature requests and software updates
- Overall satisfaction and customer support quality
By applying these criteria, I guide software buyers toward CPQ solutions that not only streamline the quote-to-cash process but also align with strategic goals in revenue operations. The right CPQ software can transform sales efficiency, enhance accuracy, and support scalable growth, making it a crucial tool for businesses aiming to optimize their sales operations.
Trends In CPQ Software For 2025
CPQ software is essential for managing complex pricing models, reducing deal friction, and maximizing revenue. As AI, self-serve quoting, and usage-based pricing models continue to evolve, forward-thinking leaders will adopt CPQ systems that streamline the entire deal process.
1. AI-Powered Deal Insights and Pricing Recommendations
Gone are the days of manual price adjustments and guesswork. Modern CPQ tools are integrating AI and machine learning to offer dynamic pricing suggestions and deal-specific insights. These features analyze historical data, customer intent, and real-time market conditions to recommend optimal pricing and discount strategies.
Why it matters: For scaling SaaS companies, pricing flexibility can make or break a deal. AI-driven insights help your sales team avoid leaving money on the table while still offering competitive quotes.
Pro tip: Look for CPQ platforms that offer "next best action" suggestions to guide reps toward the most effective pricing and upsell opportunities.
2. Self-Serve Quoting and Buyer-Led Sales Models
B2B buyers now expect the same self-service experience they get in B2C. Modern CPQ tools are evolving to support self-serve quoting portals where prospects can build and customize their own quotes without needing to talk to a sales rep.
Why it matters: As SaaS companies move toward Product-Led Growth (PLG) strategies, self-serve capabilities become essential. It shortens the sales cycle and enables reps to focus on higher-value deals.
Pro tip: Invest in CPQ platforms with customizable, buyer-friendly interfaces that integrate directly into your website or customer portal.
3. Subscription and Usage-Based Pricing Models
SaaS pricing is becoming more fluid, with demand for usage-based and hybrid pricing models on the rise. CPQ software now supports more than simple subscription tiers. It can handle pay-as-you-go billing, metered usage tracking, and even custom hybrid models that combine subscription fees with consumption-based charges.
Why it matters: Usage-based pricing aligns revenue with customer value, which is critical for reducing churn and increasing expansion revenue. Without CPQ software that can support these models, your sales team is stuck in spreadsheets and manual processes.
Pro tip: Ensure your CPQ system integrates with your billing platform (like Stripe or Chargebee) to automate usage tracking and simplify customer billing.
4. CPQ-CRM Integration for End-to-End Deal Management
Sales teams crave simplicity. The best CPQ systems now offer deep, native integrations with CRMs like Salesforce and HubSpot. This means reps can configure quotes, get approvals, and send contracts—all without leaving the CRM interface.
Why it matters: Your sales team’s productivity depends on minimizing tool-switching. End-to-end CPQ-CRM integration ensures that quotes, contracts, and deal progress are all tracked in one place, giving leadership better visibility into pipeline health.
Pro tip: Choose a CPQ platform that syncs customer and deal data directly with your CRM, so you have a single source of truth for sales metrics and forecasting.
5. Advanced Approval Workflows with Real-Time Collaboration
Approvals can be a bottleneck in deal velocity. Modern CPQ software addresses this by enabling collaborative quote reviews and automated approval workflows. Sales reps, managers, and finance teams can review and approve quotes in real-time from a shared platform.
Why it matters: As your deal sizes grow, you’ll encounter more internal stakeholders who need to sign off on pricing and terms. Delays can cost you deals. Collaborative approvals speed up decision-making, prevent miscommunication, and keep deals on track.
Pro tip: Look for CPQ tools with customizable approval rules, so smaller deals can auto-approve, while larger deals get escalated to leadership or finance.
If you’re evaluating CPQ platforms, prioritize features like AI-driven pricing, CRM integration, and self-serve quoting. These capabilities will future-proof your sales process and give you a competitive edge as your SaaS company scales.
What is CPQ Software?
CPQ software is a tool that helps sales teams handle the complexities of selling customized products. It assists in configuring products based on customer requirements, automatically calculates prices considering various factors like customizations and quantities, and generates accurate sales quotes. This software is particularly beneficial in industries where products or services have multiple variables and configurations.
The benefits of CPQ software include increased efficiency and accuracy in the sales process. It streamlines the task of creating quotes for complex products, ensuring that they are error-free and consistent with business rules. This leads to faster response times to customer inquiries, improved customer satisfaction, and potential for higher sales. By optimizing pricing and discounting, CPQ software also contributes to better profit margins and provides valuable insights into sales trends and customer preferences.
Features Of CPQ Software
Choosing the right CPQ software is a strategic decision that can significantly influence a business's ability to close deals efficiently and accurately. CPQ software streamlines the sales process by automating the offer, pricing, and quoting stages, which are crucial for maintaining competitive edge and enhancing customer satisfaction. Here are the most important features to look for in CPQ software to ensure it effectively supports revenue operations:
- Product Configuration Rules: Enables complex product customization. This feature ensures that sales teams can configure products or services according to customer needs while adhering to business rules, reducing errors, and increasing efficiency.
- Price Calculation Engine: Automates pricing based on various factors. Accurate and dynamic pricing adjustments reflect real-time changes in costs, discounts, and customizations, crucial for maintaining margins and competitiveness.
- Quote Generation: Produces detailed, professional quotes quickly. Speeding up the quote creation process helps meet customer expectations for prompt service, improving the chances of winning business.
- Approval Workflows: Streamlines the review and approval process. Automated workflows ensure that quotes meet all business criteria before being sent out, reducing delays and enforcing compliance.
- CRM and ERP Integration: Syncs data across business systems. Integration with CRM and ERP systems ensures consistency in customer data and product information, vital for accurate quoting and inventory management.
- Document Generation: Creates contract documents from quotes. This feature allows for the seamless transition from quote to contract, expediting the sales cycle and reducing manual paperwork.
- Guided Selling: Assists sales reps in selecting the right products. By guiding users through the configuration process based on customer requirements, CPQ software helps identify the best solutions, increasing customer satisfaction and sales potential.
- Discount and Margin Management: Controls discounting practices. Ensuring that discounts do not erode profit margins is critical for revenue management, making this feature essential for maintaining profitability.
- Subscription Management: Handles pricing for subscription-based products. As businesses increasingly offer subscription services, the ability to manage recurring billing and renewals directly within the CPQ tool is key for operational efficiency.
- Analytics and Reporting: Provides insights into sales performance. Analytics help identify trends, track sales team performance, and optimize the quoting process, supporting strategic decisions in revenue operations.
Selecting CPQ software with these features equips organizations to handle the complexities of modern sales environments, from product configuration to quote generation and approval. By automating and optimizing these processes, businesses can focus on strategic activities that drive growth and enhance customer relationships. The right CPQ solution becomes a cornerstone of effective revenue operations, enabling businesses to adapt quickly to market demands and customer needs.
Benefits Of CPQ Software
CPQ software is a game-changer for businesses seeking to enhance their sales processes and drive revenue growth. By automating the configuration, pricing, and quoting aspects of the sales cycle, CPQ software delivers significant advantages to users and organizations. This tool is not just about speeding up sales operations; it's about transforming them to be more efficient, accurate, and customer-focused. Here are five primary benefits of CPQ software that potential buyers in revenue operations management should consider:
- Accelerated Sales Cycle: Speeds up the entire process from configuration to quote. This benefit allows sales teams to respond to customer inquiries faster, reducing the time it takes to close deals and increasing the number of opportunities they can handle.
- Increased Accuracy in Quotes and Orders: Minimizes errors in pricing and product configuration. Accurate quotes ensure that businesses can maintain profit margins while meeting customer expectations, reducing the risk of costly errors.
- Enhanced Customer Satisfaction: Provides tailored solutions quickly. By enabling sales teams to create personalized quotes rapidly, CPQ software helps meet customer demands for prompt, customized service, enhancing the overall customer experience.
- Improved Efficiency and Productivity: Automates manual tasks in the quote-to-cash process. Sales teams spend less time on administrative tasks and more on engaging with customers and pursuing new opportunities, boosting overall productivity.
- Better Data Insights and Management: Offers valuable insights into sales trends and customer preferences. With advanced analytics, businesses can make informed decisions about product offerings, pricing strategies, and market trends, supporting strategic planning and revenue growth.
Costs & Pricing for CPQ Software
Navigating the landscape of CPQ software can be daunting for those new to the software buying process. CPQ solutions offer a range of functionalities designed to streamline the sales process by automating product configuration, pricing, and quote generation. These solutions vary widely in terms of features, scalability, and pricing. Understanding the different plan options available is crucial for selecting a CPQ solution that not only fits your immediate business needs but also has the capacity to grow with your organization. Below is an overview of typical plan options and pricing for CPQ software.
Plan Comparison Table For CPQ Software
| Plan Type | Average Price | Common Features Included | Best For |
| Free Option | $0 | - Limited CPQ features - Basic product configuration - Simple pricing models | Budget-conscious users and small-scale operations |
| Starter | $15 - $30 per user/month | - Basic CPQ functionalities - Standard product configuration - Basic pricing rules - Manual quote generation | Small businesses and startups |
| Professional | $60 - $100 per user/month | - Advanced configuration options - Dynamic pricing capabilities - Automated quote templates - Basic CRM integration | Growing businesses with increasing complexity |
| Enterprise | $100+ per user/month | - Comprehensive CPQ features - Complex product configurations - AI-driven pricing and quoting - Advanced integrations (CRM, ERP) - Custom development and support | Large enterprises with complex needs |
When choosing a CPQ software plan, consider the complexity of your sales processes, the level of customization required, and the potential for business growth. It's important to select a plan that not only aligns with your budget but also provides the functionalities necessary to enhance your sales efficiency and accuracy. A well-chosen CPQ solution can significantly impact your organization's ability to quickly generate accurate quotes and close deals, driving revenue growth and customer satisfaction.
CPQ Software Frequently Asked Questions
Just starting your research into CPQ software? Here’s what you need to know:
How does CPQ software work?
How does CPQ software work?
CPQ software simplifies the process of creating custom quotes by configuring products, calculating prices, and generating quotes. Here’s how it breaks down:
- Configure: Your sales team gathers the customer’s needs and uses CPQ software to customize the right product mix. The system can suggest upsells and check if everything is available for delivery.
- Price: The software then calculates the price, factoring in things like customer history, discounts, and current promotions. It also ensures taxes and any regulations are applied correctly.
- Quote: Finally, the tool generates a quote, usually as a payment link or invoice. If changes are needed, the sales rep can easily adjust the quote without starting over. The software also provides useful data like sales volume and approval rates to help improve the process.
How does CPQ software integrate with ecommerce platforms?
CPQ software works with ecommerce platforms in three main ways:
- Automates quoting: CPQ software works directly within ecommerce platforms to streamline the quoting process.
- Real-time pricing: Customers receive instant, accurate pricing updates as they configure products or services.
- Enhanced user experience: Shoppers get immediate feedback on pricing options and variations while browsing and configuring their selections.
How do CPQ platforms support product configuration visualization?
CPQ platforms make it easier for customers to visualize their customized products as they configure them. Here’s how they enhance the experience:
- Real-time updates: CPQ platforms let customers see live changes as they customize products.
- Dynamic visual feedback: As customers make selections, they can immediately see how each choice affects the final product.
- Improved decision-making: This visualization helps customers understand exactly what they’re getting, making it easier to choose the right options.
- Enhanced buying experience: Seeing a product come to life as they configure it gives customers more confidence in their purchase decisions.
Can CPQ software handle complex pricing rules effectively?
CPQ software simplifies complex pricing by automating how different pricing rules are applied. Here’s how it helps:
- Automates pricing: Automatically adjusts prices based on selections, quantities, and discounts.
- Ensures accuracy: Handles even the most complex rules to keep pricing consistent.
- Maintains margins: Helps businesses protect their profit margins across all channels.
What are the types of CPQ software?
CPQ software helps businesses automate complex quoting processes. Here’s a quick breakdown of the main types:
- Cloud-Based CPQ: Accessible online with easy updates and scalability. Great for flexibility and lower upfront costs.
- On-Premises CPQ: Installed on company servers, offering full data control but requiring higher investment and maintenance.
- Industry-Specific CPQ: Tailored to industries like manufacturing or healthcare, with pre-built templates for specific needs.
- B2B CPQ: Focused on business-to-business sales, handling complex negotiations, volume discounts, and long-term contracts.
- B2C CPQ: Geared toward consumer sales, with user-friendly interfaces and visualization tools for product configuration.
- Enterprise CPQ: Built for large companies with complex global sales, offering extensive customization and integration.
- Small Business CPQ: Affordable and easy to implement for small to medium businesses, covering essential CPQ functions.
- AI-Powered CPQ: Uses AI to optimize product configurations and pricing based on real-time data, boosting efficiency.
Each type suits different business needs, so choose based on your industry, size, and sales complexity.
Why should I use CPQ software?
CPQ software offers several key advantages for businesses, especially those with complex products or services. Here’s why it’s worth considering:
- Streamlined Sales Process: Automates product configuration and quoting, speeding up the time from inquiry to quote.
- Increased Accuracy: Reduces errors by automating pricing and configuration, ensuring consistent and accurate quotes.
- Enhanced Customer Experience: Provides quick, detailed proposals with dynamic pricing and customization options, improving satisfaction.
- Improved Revenue Management: Enables strategic pricing adjustments in real-time, optimizing revenue potential.
- Better Data Insights: Offers valuable insights into customer preferences and sales performance for better decision-making.
- Scalability: Grows with your business, handling increased product complexity and market expansion.
- Consistency and Compliance: Ensures quotes and contracts align with company policies and regulations.
In short, CPQ software boosts sales efficiency, enhances the customer experience, and supports revenue growth by automating key parts of the sales cycle.
Additional RevOps Software
RevOps can be complicated—just like other business functions. Using software can help you simplify your revenue operations and ensure you don’t experience performance issues. Here are some other RevOps tools you should consider for your organization:
Conclusion
CPQ software is one of the most essential upgrades for organizations. With the tools that I listed above, you’ll control every moving part of your sales channel. Also, your sales team will get more time to meet new customers and make more sales.
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