February 5 by Doug Louie
Configure Price Quote: Understanding the Difference
One of the biggest areas of improvement a sales team can benefit from is in quoting. “The first quote a customer receives has the highest possibility of eventually winning the deal,” says Gartner Analyst Mark Lewis in the latest Gartner Magic Quadrant for Configure, Price and Quote Application Suites. So it’s no surprise that sales teams are scrambling to quickly get their sales quotes in the hands of their customers as soon as they can. That’s easier said than done since many companies struggle with putting these quotes together quickly, sometimes taking days and weeks to respond to customer inquiries.
That’s where CPQ (Configure Price Quote) solutions help. CPQ helps companies rein in their complex sales processes from product configuration to pricing to document generation. CPQ allows companies to improve their response times, increase win rates and drive overall revenue growth. It’s no wonder that Gartner sees the CPQ solution market growing over 20% per year through 2020.
Apttus Configure Price Quote (CPQ) was just named a Leader in the Gartner Magic Quadrant for Configure Price Quote.
Five Reasons Apttus is a Leader in CPQ:
Strong Product Offering
Apttus is a Leader in this market, largely because it earned the highest product score of any of the solutions included in this year’s Magic Quadrant. Gartner evaluated 11 key vendors that met their inclusion criteria. The Apttus CPQ solution supports direct sales, resellers and customer self-service; it also runs on mobile devices.
Analysts rank Apttus as the global gold standard for Quote-to-Cash (QTC). Apttus offers a broad, integrated quote-to-cash capability that includes CPQ, contract life cycle management, e-commerce, sales performance management, order orchestration and billing. Built on the Intelligent Middle Office platform, Apttus QTC allows enterprises to automate and optimize their most critical revenue and commercial relationship management processes. Apttus is powered by the Apttus Intelligent Cloud, a hybrid-cloud platform utilizing the most advanced technologies from Salesforce, Microsoft and IBM.
Rich CPQ Functionality
Apttus CPQ provides support for complex pricing (such as recurring prices, multiple prices per transaction line, customer sales agreements, promotions and price waterfall) which many enterprises rely on constantly. In addition, Microsoft Office integration is particularly good.
Apttus has about 300 customers with over 400,000 users and was one of the most frequently shortlisted vendors. As a true enterprise solution, Apttus counts many of the Fortune 1000 as customers.
Market leading Innovation
In addition to leading on core CPQ functionality, Apttus CPQ has lead in innovation with customers that have leveraged artificial intelligence through the use of Max, Apttus’ Artificial Intelligence. Max allows companies to deliver actionable insights and provide conversational user experiences that complement how we work in today’s social, mobile, and virtual world.
If your current Quote-to-Cash processes aren’t performing to your liking, it may be time to explore your options to upgrade with Apttus.