The global configure price and quote (CPQ) software market is anticipated to grow at a CAGR of 13.6% during the forecast period. The adoption of artificial intelligence (AI) and machine learning (ML) in CPQ software is driving the market. AI and ML enable businesses to automate and optimize the quoting process, improve pricing accuracy, and provide data insights. This helps businesses make informed decisions, improve sales productivity, and increase revenue.
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The companies are combining various technologies to streamline their customers’ sales operations and have improved CPQ features. For instance, in February 2023, Amdocs, a company that offers software and services to communication and media companies, collaborated with Microsoft to launch the Customer Engagement Platform. This platform is designed to enhance the engagement and experience of end-users across all channels and applications, simplify business processes, generate revenue from 5G use cases, and facilitate migration to the cloud while utilizing artificial intelligence. The platform uses the entire suite of Microsoft Cloud’s intelligent collaborative business applications for sales, customer service, and customer insights, as well as a natural language and AI low-code platform and generative AI experiences. Additionally, the platform includes Amdocs’ enterprise offerings, such as catalog, CPQ, and order management.
Additionally, in June 2022, BillingPlatform, the revenue management solution for today’s innovative business models, announced that its CPQ product has been improved with greater rating precision, simplified quotation editing, the ability to generate renewals, and increased flexibility when saving and sending quotes to customers. These innovations serve to expedite the quoting process with a unified billing and CPQ system, allowing users to quickly and simply create accurate client estimates and streamline overall revenue management procedures. Besides, in June 2022, Tacton also updated its CPQ software solution. The update includes a new module called Tacton CPQ Data Import Automation, which automates data import and validation for Tacton CPQ. Additionally, the update features product validations for Tacton CPQ and an updated version of Tacton’s integration with Salesforce. There are also general updates and improvements to Tacton CPQ.
Global Configure Price and Quote (CPQ) SoftwareMarket Report Segment
By Deployment Type
- Cloud
- On-Premise
By End Users
- SMEs (Small and Medium Enterprises)
- Large Enterprises
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Configure Price and Quote (CPQ) Software Market Report Segment by Region
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
Company Profiles
- Aspire Technologies, Inc.
- Cincom Systems, Inc.
- Configure One, Inc.
- ConnectWise, LLC
- Epicor Software Corp.
- Experlogix
- Infor
- Oracle
- PandaDoc, Inc.
- PROS
- Salesforce
- SaM Solutions
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