Over the previous few years, the CPQ market has been growing in double digits. According to Gartner's Market Guide for Configure, Price, and Quote Application Suites, the CPQ market will increase at a 20 % CAGR through 2021.
If you're thinking about investing in CPQ, you've has as to how difficult it is to compare CPQ solutions. With so many providers, including small and large market players, the CPQ space fragment. Despite rising rivalry, Oracle and Salesforce remain the leading players. Because they are trustworthy. Thus, provide cutting-edge technical gains.
We've put together a one-on-one comparison of Salesforce CPQ versus Oracle Cloud. So, to assist you to choose the fit CPQ for your company. In this blog, we'll go through the key distinctions between Salesforce CPQ and Oracle CPQ. Along with that, we'll go over the key points and segments that distinguish the two.
But first, let's look at what CPQ can achieve for your company.
Let's compare the features, Pros, and Cons of Oracle CPQ Cloud and Salesforce CPQ. So, before evaluating the features, benefits of Oracle CPQ Cloud and Salesforce CPQ.
Salesforce CPQ
Salesforce CPQ is a configure price quote solution. So, it is native to the Salesforce platform. Thus, it provides automated sales quoting with out-of-the-box capabilities. E.g., Guided Selling and Pricing & Discount Schedules, all without leaving Salesforce.
If you're familiar with Salesforce CRM, Salesforce CPQ will provide you with much more. Salesforce CPQ combines the Sales Cloud platform. So, it provides salespeople with a seamless lightning experience. Further, Salesforce CPQ uses more standard articles. E.g., Price Books, Orders, Order Products, and Assets, than Apttus software. Salesforce CPQ does have links to standard & custom fields. Thus, allowing users to save time by not having to copy and paste sales agreements.
It also has simple design software, allowing it to be a dominant leader in the CRM area. Discounts, customization, product quality and quantity, and other factors. These are all taken into account by these apps.
Check our Salesforce CPQ Online Course at IT Guru to join the course.
Oracle Cloud CPQ
Oracle CPQ Cloud is CPQ software and a Quote-to-Cash management system. So, it helps companies turn sales possibilities into revenue faster. By automating the development of sales proposals, Oracle CPQ helps to optimize the sales process. Thus, this increases efficiency. Oracle's Big Machines products, which links with Oracle's range of customer experience solutions. So, it allows you to manage the full Quote-to-Cash process.
Oracle CPQ offers guided selling abilities to assist salespeople and users. They help in selecting the appropriate items and services for orders and bids. Direct from your CRM system, you may use this solution to generate accurate, orders and bids. Integrate up-selling and cross-selling advice into the quotation production process. As well as define consistent price and discounting procedures.
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Oracle CPQ Cloud's key features
Selling with a guide
Setting up the workflow for the one-of-a-kind pricing requests
The Product Configurator is a tool that allows you to customize your product.
Create sales documents with a shared logo.
Quoting and pricing
Define user permissions.
Generator of proposals
Online quote and order creation by partners
Approvals in the workflow
Advice for product upsells and cross-sells
Details gathering and reporting
Product configuration capture and guided selling guidelines
Controlling the channels
Channel quotation behavior is being analyzed and reported on.
Making a contract
Take care of partner-specific pricing, discounts, and markups.
Creation of orders and proposals
Take control of a single product catalog and ruleset.
Pricing and distribution channels for partners
Integration with a variety of ERP systems
Salesforce CPQ's Key Features
Configurator for products
A quotation audit trail
Create renewal quotations
Make contracts and proposals
Advice for cross-selling and up-selling
Quote templates
Integrations with electronic signatures
Produce quotes
Selling with a guide
A variety of price options
Editing many quote lines
Subtotaling and pre-defined descriptions
Rules for pricing and discounting
Ability to search for products
Dashboards and reports
Syncing the Salesforce Product Catalog
Allows for product bundles, dependencies, and exclusions to support.
Volume discount programs with unlimited tiers
Oracle CPQ Cloud Benefits
Online, partners can create their quotations and orders.
It keeps channel sales partners informed about new products, product choices, and upsells.
To avoid error and maintain consistency, use a professional and branded quotation generator.
To fulfill business processes, define workflows and approval processes.
Define product-specific guided selling rules. So, this is to ensure that the right product deliver to the right user.
To improve predictions and sales visibility. Also, get insights and statistics on your sales channel quotation activities.
Manage the price, discounting, and mark-up policies that customize to each partner.
Use a single product library to streamline rules across different channels. This assures consistency.
Salesforce CPQ Cloud Benefits
Using guided selling, you can shorten the sales cycle.
Automated quoting tools for proposal generation
Accuracy Progress
Increased Productivity and Efficiency
Intelligent Quotes might help you increase your sales.
Analyze the profitability of a deal
Increase the value of your deals.
Negotiating a contract
Customer Service Improvement
Comparison of Salesforce vs Oracle CPQ
Each of the two items is a market leader with many useful features. Oracle is on its platform. But, whereas Salesforce is a package-based solution built on the Salesforce.com platform. Even better, they can communicate with this sophisticated AI. Also, have it perform all these tasks for them. It makes suggestions for which deals might close. As well, other cross-sell and up-sell chances. Salesforce makes recommendations using Einstein, Salesforce's AI. So, this aids in the creation of quotes and the prediction of up-sell and cross-sell chances. Oracle also offers AI-based price optimization. Thus, it aids in the increase of sales/revenue. Further, it suggests alternative pricing options to assist customers in making better selections.
On the basis of many features and costs, here's a comparison of the two items.
Salesforce CPQ
Salesforce CPQ uses Sales Cloud's capabilities to streamline the customer lifecycle. It allows you to have complete control over product packaging. It depends on your specific business regulations. Reps can build quotations & proposals using the native Salesforce interface on any device. CPQ excels in addressing all issues related to volume discounts, and product bundling. But, it is a complex technology, your staff may need the training to overcome the learning curve. It gets good marks for its Guided Selling and Discount Scheduling capabilities. Cloudera, Alcon, Glassdoor, Barracuda, and other well-known firms are among their clientele.
Features of the Product
Assists with direct selling to increase business sales.
As needed, manage contracts and keep track of orders and renewals.
It performs the function of a product configurator.
Billing for subscriptions and other payments handles by this department.
Revenue recognition, sales tax management, and other services are available.
Oracle CPQ
Before its acquisition in 2013, Oracle CPQ Cloud was known as Big Machines. It is an enterprise-grade CPQ with a significant function to hurry the full QTC process. With its superior ML capabilities, Oracle CPQ uses Oracle Adaptive Intelligence Apps. So, this is to provide a better customer experience. It is well-known for its excellent mobile help skills. Yet, when compared to its counterparts, it has a lower adoption rate. Schneider Electric, Red Hat, PCCW Media, and other firms are among its clients.
Features of the Product
To set up and manage subscription contracts, use subscription orders.
Supports pricing rules and validations that are automatic.
Many fronts and back-office systems can connect at the same time.
For complex items, feature-based pricing ensures complete quote and price accuracy.
Create branded and customized proposals with the proposal management tool.
Pricing
Oracle CPQ
Oracle CPQ is available in three pricing editions:
Standard Edition - starting at $130 per month per user
Product Catalogue with Search
Customizable Products
Customer-Specific Pricing and a List
Discounting
Scripting and Extensible Data Structures
Document Generation as an Output
Approvals in the Workflow
Environment for Testing
CRM integration with four of the most popular SFAs
Dependable customer service
Enterprise Edition - starting at $165 per month per user
This includes all the features included in the Standard edition, as well as the following:
Module for Native Reporting
Exporting Transactions in Bulk to Fill a Data Warehouse
Module for Sales through Available Channels
Available E-commerce Modules (interaction-based pricing)
Database Encryption is a service that allows you to encrypt your data.
Premium Edition - starting at $240 per month per user
You can get all the features stated in the Enterprise Edition here, as well as:
Multi-source document creation is one of the things that came with the package.
Premium Support is available.
Involves Database Encryption
Salesforce CPQ
The cost of Salesforce CPQ split down into four different versions based on the services.
Salesforce CPQ cost starts at $75.00 a month per user for the most basic version.
$75/month Salesforce CPQ Plan
You will receive the following benefits as part of this package:
Customizable Product
Selector for Products
Feature of Proposal Generation
Manages orders.
Tool for Creating Dynamic Orders
The Tool for Creating Dynamic Contracts
Discount Management
Parameters for pricing
Management of Renewal
Essential Training for CPQ
a strategy for success
Dashboard
Aspects of Reporting
Contract Amendments or Changes
$150/month Salesforce CPQ Plus Plan
You will receive all the services available in the CPQ Plan, as well as the following more services:
Services for advanced order management
Integration of a third-party portal
Self-service for customers
Features of the CPQ Plan
Self-service for partners
Integration with third-party APIs
CPQ and Billing Plus, as well as CPQ and Billing Growth
You can choose the services you want to receive a price quote for in this pricing bundle.
The Pros and Cons of Oracle CPQ versus Salesforce CPQ
Pros of Oracle CPQ
Every time we've hit a snag, we've had internal support to ensure we weren't left on our own.
It's adjustable, so you can add and remove whatever you want. we've included extra filters down to the zip code, state, and agent name. For example, to help you sort through data more effective.
In the system, there is no lag. It is being tracked in real-time if you see it there.
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Pros of Salesforce CPQ
Salesforce CPQ maps to standard and custom fields in SFDC options. So, saving you time by not having to duplicate effort or copy and paste deal criteria.
Salesforce CPQ connects to a price book. So, make it simple to generate a proposal based on a standard cost and/or apply discounts to the standard cost. This will reflect on the order form as needed.
Salesforce CPQ allows administrators to set up approval workflows. It relies on various discount percentages off the regular price. Hence, providing a quick and easy way to route orders through the firm for approval.
Cons of Oracle CPQ
Our sales team finds it challenging to use the product for tracking demo units. So, although it was not meant for it.
The application's mobile version will be available soon. Our IT staff receives several complaints about its functionality.
We often have to recreate some of the unique displays we made after application upgrades. So, this happens very often.
Cons of Salesforce CPQ
Complex product and configuration rules appear to be too cryptic. Even simple quantity rules might become quite hard if any math is necessary for the rule.
Even though quote templates are simple to change, their layout is very understandable. More dynamic and appealing quotation templates are something we'd like to be able to offer.
In a few key ways, guided selling falls short. You can't make an "if this, then that" question, an intuitive questionnaire. Also, a guided selling wizard with dependencies.
Conclusion
As a result, we have arrived after this blog. Both Salesforce and Oracle are powerful CPQ solutions. So, both provide significant value to any firm. It may not always be enough to compare Salesforce CPQ and Oracle CPQ Cloud. Although Oracle CPQ ranking is lower than Salesforce's CPQ. But, both systems are efficient and deliver flawless quote-to-cash solutions. Although helpful functionalities, affordability, and user experience are all important factors to consider. Hence, when making a final decision, you should also look into the matter. Also, what each product has received.
Many individuals recommend Salesforce CPQ over Oracle CPQ for users' quoting needs. Because of its product, ease, business benefits, and user happiness, among other things. As a result, one platform offers more advantages than the other.
Salesforce CPQ Online Training will give you more info about Salesforce CPQ. As well, practical live sessions. Experts in this field can help you improve your skills in this area.