CPQ, along with Einstein Analytics is one of the hottest applications as part of Salesforce’s product suite, currently taking the Salesforce market by storm.
CPQ allows the entire Quote-to-Cash process to be automated, ultimately allowing businesses to spend less time on administration, and more time growing their business.
It’s been just over 2 years since Salesforce acquired Steelbrick, and a number of organisations are already leveraging the benefits of the product.
NetMotion, for example, spent three years attempting to build their previous quoting solution, whereas Salesforce CPQ was live within 9 weeks and has seen reps be able to produce sales quotes in nearly 50% less time.
Similarly, Domino are able to configure and quote their products easily, reducing quoting time from 45 minutes to 5 minutes!
With the recent introduction of product recommendations utilising machine learning and predictive intelligence via Einstein, the popularity of CPQ is only likely to increase…
Gartner predicts CPQ will continue to be one of the hottest enterprise apps for the foreseeable future, predicting a 20% annual growth rate through 2020 - with the majority being from cloud-based solutions.