Sales teams are always looking for ways to improve the sales process.

That’s why they invest so much time and money into customer relationship management, the latest and greatest deal closing techniques, and even sales forecasting tools.

Here’s a wild idea: add “Buy CPQ Solution” to your to-do list. Once you purchase this kind of tool, your team will become more productive and drive more revenue. Win!

In this article, we’ll explain what a CPQ solution is, what to look for in this kind of software, the benefits CPQ tools provide, eight apps you should consider buying, and more.

What is CPQ Software?

CPQ software is an application that helps users configure, price, and quote products.

Put another way, your CPQ software solution will help your sales reps configure products based on customer needs, price them appropriately, and generate quotes in less time.

Together, these things streamline sales processes. The result? More productive salespeople who close more deals and drive more revenue. As such, CPQ software is a valuable sales tool.

We know what you’re thinking, “More productive sales representatives sounds great! But how does CPQ software actually work?” We’re glad you asked. Here’s the basic process:

1. Configure: CPQ software specifies which aspects of a product are customizable. Sales reps can then use the system to “build” products based on customer requirements.
2. Price: CPQ software allows for custom pricing rules that account for the base price of specific components, the cost of certain features, available discounts, etc. The system then determines an accurate pricing for the products sales reps “build” for customers.
3. Quote: Finally, CPQ software generates branded quotes that feature product information, included services, pricing details, discounts given, terms and conditions, and payment options. These capabilities simplify the quoting process for reps.

One more thing: CPQ tools usually integrate with CRM and ERP software. That way sales reps have access to customer data and can build accurate quotes in the minimum amount of time.

The Benefits of a Quality CPQ System

The right CPQ solution will benefit your sales department in many ways. Let’s take a look at five specific benefits you’ll enjoy once you invest in this kind of software:

Greater Sales Productivity

Every company wants to increase sales efficiency. It makes sense. The faster you connect with prospects, build relationships, and close deals, the faster you’ll make money.

CPQ software will make your sales reps more productive—especially if they send complex quotes on a regular basis. That’s because these tools streamline the configuration process, use automation to select accurate pricing, and generate on-brand quotes in seconds.

More Accurate Quotes

Your company’s ability to meet the unique demands of each customer is a superpower.

But complex product configuration only works if you offer accurate pricing. If you don’t, you’ll consistently undercharge and lose money, or overcharge and lose customers—then lose money. Neither scenario is ideal. Fortunately, CPQ software is the answer.

Build custom business rules into your CPQ app of choice. That way your reps generate error-free quotes consistently. Trust us, your company’s bottom line will thank you.

A Shorter Sales Cycle

A proper CPQ system will help you close deals faster. This fact is welcome news to B2B companies, who often have to deal with sales cycle lengths in the triple digits.

It doesn’t matter which sales channel your team prefers. When reps can configure, price, and quote products in minutes, the sales process will naturally get shorter. This will allow reps to drive more revenue in less time, then chase new leads with the extra hours they gain.

Better Customer Experience

At the end of the day, it all comes down to customer satisfaction.

What can your sales reps do to elevate the customer experience? Figure that out and they’ll make more sales, generate more revenue, and enable your company to achieve more success.

Good news: your CPQ solution will help your sales team build deeper customer relationships. How so? Your reps will be able to configure custom products, break down complex pricing options, and send quotes in less time. This will help buyers get the products they need faster.

Extra Revenue

Finally, a quality CPQ software will help your sales department generate extra revenue.

Think about it: when you combine operational efficiency, optimized pricing rules, shorter sales cycles, and happier customers, revenue growth is almost inevitable.

If you’re new to CPQ, the product configurator inside your app of choice may help your team discover new revenue streams as well. For example, you might realize that you’re able to add a new level of customization to your product offerings—customizations you can charge more for.

What to Look for in a CPQ Solution

There are a bunch of CPQ solutions on the market. Which one is right for your sales team? We can’t answer that question for you. But we can tell you what to look for in this kind of tool:

Ease of Use

​​The CPQ solution you purchase should be easy to use. If it isn’t, your sales reps will get frustrated and abandon the tool. This won’t help your team build configurable products for potential customers and move them through the sales pipeline. In fact, the opposite is more likely. So, look for an intuitive platform that does not require extensive training.

Quality Features

Next, make sure the CPQ software you buy has the right product features. For example, you might need a system that includes complex automation capabilities. Assess your team’s wants and needs. Then select a tool that can accommodate as many of them as possible. This will help ensure your company’s quote-to-cash process is effective.

The Right Integrations

Your sales department probably uses multiple tools to facilitate its sales process. CRM software acts as a single source of truth for your team. Calendar apps make it easier for reps to book sales meetings. E-signature tools help sellers get contracts signed faster. The list goes on. Your CPQ solution should integrate with the majority of these tools. Compare each CPQ app’s integration list to your current tech stack to make sure they’ll connect.

Affordable Packages

What’s your budget for CPQ software? Find a tool that you can realistically afford. There’s no point looking at expensive apps if you only have enough money for entry-level systems. You can always upgrade your CPQ technology in the future, when you have more cash to burn. Or maybe you’ll find that the cost-effective solution you originally invested in is a perfect fit for your team’s sales processes. It’s definitely possible, and another reason to stick to your budget.

Glowing Reviews

Finally, choose a CPQ solution with good reviews. Many sales teams have already used the app you’re considering. What do they have to say about it? Check sites like G2 and Capterra to find answers. Then take what these folks say seriously. They have first-hand experience, after all.

The 8 Best CPQ Tools in 2024

So, which CPQ solution should you actually purchase for your sales reps?

The answer to that question depends on your unique sales process. But we’re confident you’ll find a solution to your needs below—mostly because we’ve chosen a diverse range of apps.

Looking for a no-code or low-code solution? How about some of the best Salesforce CPQ solution alternatives out there? One of the options in this section will be the perfect match.

Experlogix

Experlogix is a popular CPQ solution for sales teams who sell services, subscriptions, or made-to-order products. Its features are especially powerful for the manufacturing industry, thanks to smart integrations with Salesforce and Microsoft Dynamics CRM. Once quotes are generated inside these platforms, product offerings can be sent directly to production.

Top Experlogix Features

• See 3D versions of the complex configurations you build for customers
• Implement pricing rules and receive feedback on quotes to ensure 100% accuracy
• Create an automated approval workflow to reduce bottlenecks in the sales process
• Generate complex, multi-level BOMs and product items via popular ERP systems
• Use eye-catching templates to send branded proposals in way less time
• Enjoy bi-directional integrations with top tools like Salesforce and Dynamics 365

Experlogix Drawbacks

• Experlogix is a powerful platform with advanced features. Because of this, users who are new to CPQ software might feel overwhelmed when they start using the tool but there are extensive training opportunities and support resources available to them to help bridge this gap.

Experlogix Pricing

• Interested in Experlogix? Contact our team today to learn more about our products and how they can help you. Then sign up for a free demo to see our CPQ system in action!

Conga CPQ

With Conga CPQ, users can streamline the configure, price, quote process—no matter how complex it might be. The result? Greater productivity, accuracy, and revenue numbers.

Top Conga CPQ Features

• Quickly find specific product options via intuitive search functionality
• Configure a wide range of products, and received recommendations to improve them
• Enjoy a sophisticated pricing engine that makes price optimization a strong reality
• Manage subscription sales with automation tools that increase renewal rates

Conga CPQ Drawbacks

• While Conga has all kinds of power, it can be difficult to implement and use this CPQ software. If you want a simple way to improve your sales process, look elsewhere.

Conga CPQ Pricing

• Conga claims to craft “customized pricing, built to your needs.” In other words, you need to contact Conga directly to see how much this Salesforce CPQ alternative will cost you.

PandaDoc CPQ

PandaDoc is a popular document management system. But the platform does a lot more than let users send and sign contracts. It also enables sales reps to crush their configure, price, quote workflows and even accept payments from customers.

Top PandaDoc CPQ Features

• Get started with zero training thanks to PandaDoc CPQ’s user-friendly interface
• Generate accurate quotes that boost response times, leading to shorter sales cycles
• Collaborate on quotes with potential buyers to increase customer interaction and sales
• Accept bank transfer or credit card payments via Stripe, Square, and PayPal gateways
• Integrate PandaDoc CPQ with many CRM solutions to ensure team productivity

PandaDoc CPQ Drawbacks

• PandaDoc doesn’t include the same level of automation as other CPQ software
• The customization options in PandaDoc are lacking, compared to other providers
• Configure, price, quote features are only available in the Enterprise plan

PandaDoc CPQ Pricing

• To access PandaDoc’s CPQ system, you’ll need to subscribe to the “Enterprise” plan. Unfortunately, PandaDoc doesn’t provide pricing for this plan online.

HubSpot CPQ

Are you a HubSpot user? Then you’ll appreciate HubSpot CPQ, which is available inside HubSpot Sales Hub. Use the tool to generate custom quotes in a few clicks—all without leaving your CRM. Your sales team can even use the CPQ software to accept payments, if necessary.

Top HubSpot CPQ Features

• Use an intuitive interface to complete the configure, price, quote process
• Build deep product catalogs that reps can easily customize when needed
• Enjoy e-signature integrations and native payment processing capabilities
• Integrate HubSpot CPQ with accounting software like Quickbooks and Xero

HubSpot CPQ Drawbacks

• HubSpot’s biggest advantage is the fact that it’s part of the HubSpot ecosystem. So those who already use HubSpot’s CRM software will have seamless integration but it doesn’t work with other ERP or CRM solutions.
• HubSpot CPQ also isn’t as powerful as other CPQ solutions on the market as most Hubspot customers tend to be middle-market software or services companies with a lower degree or complexity in their quoting process

HubSpot CPQ Pricing

• There’s a free version of HubSpot CPQ but it doesn’t include all features. To access the entire tool, you’ll pay $90 to $150 a month, per user—plus a one-time fee of $1,500.

Epicor CPQ

Epicor CPQ will make you feel like you’re selling products in a science fiction novel thanks to its 2D, 3D, and augmented reality product configurator. Beyond the futuristic visual capabilities, Epicor CPQ offers a strong feature set that users in a variety of industries will enjoy.

Top Epicor CPQ Features

• Enable sales reps to design complex product configurations in 2D, 3D, or AR
• Allow customer to configure their own products with self-service features
• Use dynamic pricing that updates automatically as changes are made to products
• Integrate Epicor CPQ with websites, apps, and essential business systems

Epicor CPQ Drawbacks

• Epicor CPQ offers plenty of customization options but requires a very technical developer to build out, which many teams may not have resources for 
• Support and issue resolution tends to be a weak point for Epicor CPQ 

Epicor CPQ Pricing

• The Epicor CPQ solution will cost your company $100 a month, per user. It should be noted that Epicor offers volume discounts to those who speak to its team.

DealHub CPQ

DealHub helps sales reps close more deals with solid configure, price, quote options; contract management; and in-app billing capabilities. Its CPQ solution is a great fit where product complexity is a concern, as the app includes strong automation and collaboration tools.

Top DealHub CPQ Features

• Get real-time data regarding a prospect’s interest in specific products
• Build question-based workflows to help reps configure products in less time
• Streamline the quote approval process with in-depth automated workflows
• Handle subscription-based business models and recurring payments
• Integrate DealHub CPQ with Salesforce, HubSpot, and many other CRMs

DealHub CPQ Drawbacks

• Even though DealHub CPQ claims to be a no-code platform, users still have trouble implementing the tool and report a lack of available training.
• Even after they get it up and running, users report issues with customization.

DealHub CPQ Pricing

• You’ll need to contact DealHub directly to learn about pricing details. Also worth mentioning, DealHub CPQ doesn’t include subscription management, billing options, or bi-directional connectivity. You’ll need to pay extra for those features.

Oracle CPQ

Oracle’s CPQ system aims to help sales reps increase productivity by providing them with a complete quote-to-cash solution. While it’s generally used by enterprise companies, even small businesses can use this CPQ tool because of its vast customization options.

Top Oracle CPQ Features

• Configure products with AI, so reps can focus their attention on customers
• Easily handle annuities, renewals, and other subscription pricing details
• Access real-time pricing and discount data to price products more accurately
• Build dynamic proposals with one click, then manage approvals and signatures
• Integrate Oracle CPQ with CRM, ERP, digital commerce, and other software

Oracle CPQ Drawbacks

• Oracle CPQ doesn’t have the most intuitive interface. Because of this, some users might not be able to access all of the tool’s features, which is unfortunate.
• Oracle CPQ tends to be one one of the more expensive solutions on the market

Oracle CPQ Pricing

• Oracle CPQ will cost your company $240 a month, per user. This price will allow you to access the app’s entire feature set, from product configuration to CRM integration.

SAP Sales Cloud

SAP CPQ brings the power of AI to the configure, price, quote process. Because of this, the tool has the ability to supercharge productivity for sales teams in many different industries.

Top SAP CPQ Features

• Generate quotes with 10,000 or more lines in a matter of seconds
• Automate approval and exception workflows to boost efficiency
• Enjoy margin protection features that help ensure profitability
• Integrate SAP CPQ with the other SAP products in your tech stack

SAP CPQ Drawbacks

• SAP CPQ has a steep learning curve that makes it unusable for some reps
• Adapting SAP CPQ to certain business models can be nearly impossible and requires having a SAP ERP solution in place

SAP CPQ Pricing

• SAP doesn’t post pricing for its CPQ tool on its website. To learn this information, you’ll need to contact the company directly and ask for more details.

How to Successfully Implement Your CPQ Solution in 2024

Choosing CPQ software for your company is only half the battle. Once you select a platform, you need to implement it into your team’s workflow. These five tips will help:

Know Your Goals

First, decide what you want to accomplish by purchasing a CPQ solution.

Different companies have different goals. This is especially true when comparing B2C and B2B companies. Identify your organization’s objectives before you do anything else.

Also, determine key stakeholders. Your company’s CPQ will affect multiple departments, not just your sales team. Make sure all interested parties are involved in the implementation process.

Understand Your Customer

Next, make sure you understand your customers’ needs.

How do these people interact with your organization? Which products and/or services do they purchase most often? What frustrates them about your current buying process?

Sales organizations buy CPQ software to help them sell more. But these tools can also improve customer experience—assuming they’re implemented with buyers in mind.

Take Advantage of Automation

CPQ solutions will help streamline many aspects of your company’s sales process.

For example, sales reps can use them to configure complex products with the click of a button. Or adjust pricing based on specific components used. Or build elegant quotes in seconds.

But automation is only possible if you set rules for your CPQ app to follow. Skip this step, and your technology won’t have the data it needs to automate manual processes. So, take time to set up automated workflows inside your CPQ solution. You’ll be glad you did.

Integrate Your CPQ Solution

Average sales teams use 10 tools to close deals. Your CPQ software should integrate with most of them. That way you can quickly pass information between systems.

By connecting your CPQ to your CRM, for example, you’ll get access to real-time insights you can use to configure, price, and quote products more accurately. Connecting to your preferred payment gateway will help your company get paid in a timely manner. The list goes on and on.

Optimize Your Approach to CPQ

Finally, analyze the way you’ve implemented your CPQ solution.

Is it working? Can you improve your approach to simplify sales processes and capitalize on additional sales opportunities? These are important questions to ask.

Remember, CPQ implementation isn’t a one-time gig. You need to evaluate your efforts on a regular basis. Then, when you find inefficiencies, remedy them as soon as possible.

Wrapping Up

A quality CPQ solution will help your company achieve greater productivity, more accurate sales quotes, a shorter sales cycle, higher customer satisfaction, and more revenue.

All you have to do now is choose the right CPQ software for your team.

There are plenty of options available to you—we looked at many of them in this article. But if you want the ideal combination of user-friendliness and power, choose Experlogix.

The Experlogix CPQ system is easy to use and packs a serious punch. Don’t just take our word for it, though. Contact our team today to schedule a free demo. Then you’ll be able to see our platform in action and decide for yourself if it’s the best CPQ tool for your sales department.