Gartner Magic Quadrant For Configure Price And Quote Application Suites
Configure Price and Quote (CPQ) software has emerged as a must-have technology for businesses looking to streamline their sales processes, improve customer experience, and increase revenue. CPQ software automates the quoting and proposal process, allowing sales teams to create accurate quotes and proposals quickly and easily. Gartner, a leading research and advisory company, has released its Magic Quadrant for Configure Price and Quote Application Suites report for 2021, providing insights on the CPQ market and the top vendors in the space.
What is a CPQ solution?
A CPQ solution is a software tool that helps businesses automate the sales quoting and proposal process. With a CPQ solution, sales teams can create accurate quotes and proposals quickly and easily, reducing the time and effort required to produce a quote. CPQ software can also help businesses improve customer experience by providing customers with accurate pricing and product information, and by streamlining the buying process.
CPQ solutions are typically used by businesses that sell complex products or services, such as technology solutions, manufacturing equipment, or consulting services. These businesses often have a large number of products or services, each with multiple configuration options, making the sales process complex and time-consuming.
Benefits of CPQ software
There are many benefits to using CPQ software, including:
- Increased efficiency: CPQ software can automate the sales process, reducing the time and effort required to produce a quote or proposal.
- Improved accuracy: CPQ software ensures that quotes and proposals are accurate and consistent, reducing the risk of errors.
- Better customer experience: CPQ software provides customers with accurate pricing and product information, and can help streamline the buying process.
- Increased revenue: By streamlining the sales process and improving the customer experience, CPQ software can help businesses increase revenue.
The Gartner Magic Quadrant for Configure Price and Quote Application Suites
The Gartner Magic Quadrant for Configure Price and Quote Application Suites is a report that provides an overview of the CPQ market and the top vendors in the space. The report evaluates vendors based on two criteria: completeness of vision and ability to execute.
In the 2021 report, Gartner identified four vendors as leaders in the CPQ market: Salesforce, Oracle, SAP, and PROS. These vendors were recognized for their ability to execute and their completeness of vision, indicating that they offer a comprehensive CPQ solution and have a strong track record of delivering results.
In addition to the leaders, Gartner identified several other vendors in the CPQ market, including challengers, visionaries, and niche players. The report provides insights into each vendor's strengths and weaknesses, as well as recommendations for businesses looking to select a CPQ solution.
Conclusion
The Gartner Magic Quadrant for Configure Price and Quote Application Suites is an invaluable resource for businesses looking to select a CPQ solution. The report provides insights into the CPQ market and the top vendors in the space, allowing businesses to make an informed decision about which solution is right for them. By using a CPQ solution, businesses can streamline their sales process, improve customer experience, and increase revenue.