February 1, 2018 by Alex Cohen
SAN MATEO, CA – February 1, 2018 – Apttus, the global leader in Quote-to-Cash and Contract Lifecycle Management solutions utilizing artificial intelligence (AI), today announced that Gartner, an independent research and advisory firm, named Apttus a Leader in the Magic Quadrant for Configure, Price and Quote Application Suites.*
Gartner evaluated 11 CPQ vendors based on their ability to execute and completeness of vision, and placed Apttus in the Leaders quadrant. From Apttus’ perspective, this research represents the latest in a series of third party analyst reports that recognize the value of Apttus CPQ – a key pillar in the Apttus Quote-to-Cash footprint.
- Gartner estimates that “market revenue for configure, price and quote software was approximately $878 million in 2016, with growth of 20% per year expected through 2020.”
- The report notes that “Leading CPQ solutions support the creation of quotes and capturing of orders across multiple channels of customer interaction (such as direct sales, contact center, point-of-sales, resellers, and customer self-service).”
- The report further notes that implementing a CPQ solution should have demonstrable bottom-line impact with “Intelligent discounting guidance, enforcement of discounting guidelines and linking sales rep compensation to margin results in higher margins…Guided upsells and cross-sells drive additional revenue and higher margins.”
- The report further states, “Gartner clients are almost uniformly seeking to procure cloud/SaaS CPQ software solutions.”
Apttus Intelligent CPQ software helps enterprises improve generation of new leads, identify cross-sell/up-sell opportunities, and accelerate sales cycle times by a factor of five or more, greatly streamlining global practices, increasing sales effectiveness, margins, and ultimately an enterprise’s revenue.
“After we implemented Apttus CPQ, the functionality of our quotes for our sales reps was dramatically improved,” said Jack Borland, sales operations manager at Wolters Kluwer, a global company that provides information, software, and services. “The ability to take a quote and present it with the appropriate legal terms and conditions relevant to a customer buying in, in a specific fashion is a tremendous benefit.”
“We believe Apttus’ extensible, enterprise-grade, Intelligent Middle Office platform represents the most comprehensive solution for optimizing what is arguably the most critical process in business – the generation of revenue and management of commercial relationships,” said Kirk Krappe, CEO at Apttus. “CPQ is a key component of our platform. We see this Magic Quadrant recognition as a validation of our consistent innovation and leadership in providing a world-class experience for our customers.”
- For an analysis of the CPQ market and to view Apttus’ placement as a Leader, get your complimentary copy of the 2018 “Magic Quadrant for Configure, Price and Quote Application Suites”
- See why Forrester rated Apttus a Leader in its The Forrester Wave™: Configure-Price-Quote Solutions, Q1 2017
- Discover why Apttus CPQ is positioned as a Leader in the IDC MarketScape: Worldwide Manufacturing Configure, Price, Quote Applications 2017 Vendor Assessment
- Learn more about Apttus’ vision for CPQ in the guide book: The Ultimate Guide to Configure Price Quote
- Read the Harvard Business Review study on the impact of Artificial Intelligence on configure price quote and revenue generation: Artificial Intelligence For Maximizing Revenue
- Additional Analyst Reports featuring Apttus are also available here
*Gartner, “Magic Quadrant for Configure, Price and Quote Application Suites,” Mark Lewis, Melissa A. Hilbert, 29 January 2018.
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
Apttus is a Silicon Valley-based global provider of the Intelligent Middle Office platform allowing 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. Analysts rank Apttus as the global gold standard for Quote-to-Cash (QTC) and Contract Lifecycle Management (CLM) solutions. Apttus’ innovations include Max, the company’s Applied Artificial Intelligence that enables enterprises to achieve superior business outcomes. Apttus partners with a world-class ecosystem. Apttus customers include hundreds of the world’s mid-sized organizations and the who’s who of the Global 1000.