CPQ solutions are increasingly popular among enterprises. Yet some business leaders are still hesitant, despite significant benefits. This is in part due to inaccurate myths about CPQ, like the belief that it won't feel and look modern.
CPQ, or Configure, Price, Quote solutions are increasingly popular among enterprises. Indeed, in 2019 the global CPQ application market grew by nearly 16% to reach roughly $1.42 billion, and it continued to grow at a compound annual rate of 20% through 2020.
Yet some business leaders are still hesitant to make the leap, which is a shame, as the benefits are tangible and significant, per Superoffice:
CPQ shortens the sales cycle by up to 28%.
Companies that use CPQ experience 105% larger average deal size.
Companies that use CPQ experience 49% higher proposal volume.
Much of this hesitancy is based on inaccurate beliefs about CPQ’s capabilities and impact. One such myth is that CPQ will look and feel like the 90s, rather than serving as a sleek, modern solution.
CPQ is a Modern Solution
Part of what makes CPQ so impactful is its ability to simplify deeply complex configurations via automation. CPQ boasts numerous strengths, and can handle variable situations while simultaneously eliminating human error.
Nonetheless, some enterprise leaders voice concerns that deploying a CPQ solution will not only take significant time and resources, but will result in a clunky, dated design and feel.
Fortunately, this isn’t the case. Delivering a superior user experience is all about leveraging modern frameworks. By utilizing these new solutions, businesses can deliver - and deliver easier - what their team members and customers need.
Solutions like the more modern Jet UI of Oracle CPQ allow companies to deliver seamless user experiences that go beyond just look and feel. Rather, enterprises can create tailored user experiences that are geared towards the specific user, whether that’s an internal salesperson, a direct customer, a reseller, or another end user.
This kind of a personalized, sophisticated experience goes a long way in ensuring internal adoption and customer satisfaction.
To learn more about the benefits of CPQ and what solutions may be right for your business, schedule a free consultation with the team of experts at Object Edge.
About the Author
VP, Marketing Global
Sarah is a nimble and creative marketing leader with 15 years of experience in a mix of agencies, B2B, and B2C enterprises. She brings a background in building and driving impactful marketing practices and processes for growing businesses. Sarah has expertise in brand, content marketing, lead generation, and marketing operations. She’s a co-author of the 2019 book on B2B eCommerce Digital Branch Secrets: eCommerce Playbook for Distributors.