Oracle Doubles Investment in Midsize Organization Configure Price and Quote Technology Post-BigMachines Acquisition
Latest Release of Oracle CPQ Cloud Helps Midsize Organizations Drive Sales Efficiency and Revenue
Redwood Shores, Calif. – July 15, 2014
Today’s growing midsize businesses need agile and dynamic sales technology to thrive in an accelerated and on-demand business environment. Organizations need configure, price, and quote (CPQ) technology to help drive revenue, reduce quoting time, and exceed the demands of modern customers. Since acquiring BigMachines, Oracle has doubled its investment in Oracle CPQ Cloud for mid market to help customers enhance sales processes and drive revenue. Formerly BigMachines Express, Oracle CPQ Cloud for mid market is a native Force.com application that helps simplify the quoting process and allows sales reps to spend more time selling and less time processing orders. Oracle today is announcing new features that will enhance our midsize organization customers’ quoting capabilities.
To help organizations drive revenue in today’s fast-paced and on-demand modern business environment, Oracle today released new features to Oracle CPQ Cloud for mid market (formerly BigMachines Express).
Since acquiring BigMachines in November 2013, Oracle has doubled its investment in its midsize organizations configure, price and quote technology as a result of growing demand for simple, accurate, fast and flexible solutions.
The midsize organization CPQ business is accelerating under Oracle. Since the acquisition, we have grown our Oracle CPQ Cloud for mid market customer base by 60%, and Q4 was the best quarter to date for the business.
The latest enhancements to Oracle CPQ Cloud for mid market help organizations shorten sales cycles, improve margins and achieve greater sales efficiency by simplifying configuration and increasing pricing flexibility and quote accuracy.
With Oracle’s comprehensive, easy-to-use CPQ solution, organizations can accelerate sales processes that drive revenue by reducing costly quoting errors, while also minimizing the time spent selling add-ons and renewing contracts.
Built on the Salesforce.com platform, the latest update allows simple and familiar administration by sales operations teams and supports easy deployment so organizations can get up and running in less than 60 days.
With comprehensive capabilities, Oracle CPQ Cloud for mid market is one of the fastest growing CPQ solutions available and the ideal solution offering self-service features.
Simple, Fast and Accurate Configuration, Price and Quote Capabilities
The new features of Oracle CPQ Cloud for mid market include:
Product bundling: The solution now enables organizations to quickly and easily configure features in complex products with interdependent pricing to create convenient and simple product bundles.
Price formulas: Organizations have added flexibility to define price formulas that are tailored to their business, and administrators have a greater degree of control over pricing based on configuration inputs and selected products or features.
Dynamic product rules: Enables organizations to create dynamic product rules that match products with specific text strings to support faster deployment, increased accuracy and flexibility.
Quoting enhancements: Helps sales staff summarize line items, making proposals easier for buyers to understand, and customize fonts to improve aesthetics and ensure brand consistency.
“Mistakes and bottlenecks in sales, pricing, quoting & renewals processes can have a significant impact on sales efficiency and revenue,” said Christopher Shutts, vice president of development, Oracle. “The additional features included in Oracle CPQ Cloud for mid market underscore Oracle’s commitment to helping customers simplify complex product and services, complicated pricing and approvals, and multiple pricelists and currencies. By continuing to invest in CPQ solutions, we are able to help sales teams enhance customer experience, improve sales processes and drive revenue.”