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Oracle Configure, Price, and Quote Cloud: Learn More About Oracle’s Acquisition of BigMachines
In October 2013, Oracle acquired leading cloud-based configure, price, and quote (CPQ) solution provider
Now available as Oracle Configure, Price, and Quote Cloud (Oracle CPQ Cloud),
the technology enables sales organizations to automate sales order processes with
- Quoting and product configuration
- Dynamic pricing
- Guided selling
- Easy-to-use workflow approval processes
- Automated sales proposal and contract generation
- Accessibility anywhere on any device
To find out more about the new CPQ technology—and how it complements Oracle's other sales and customer experience (CX) solutions—we turned to Greg Swender, Oracle’s senior director of CPQ and sales automation, who is leading Oracle CPQ Cloud product marketing.
Q. You have said that Oracle’s new solution can help sales organizations sell more and sell faster. Please explain.
A. First of all, Oracle CPQ Cloud helps sales representatives quickly identify exactly the right products and services that meet a customer’s needs. Then it automatically reveals the pricing and discounts they can offer in compliance with their organization’s policies. Finally, it enables representatives to generate customer-facing documents—everything from sales proposals to contracts and statements of work—with a few clicks.
Without a CPQ solution, each of these steps can be a highly manual process, adding extra hours or even days because of all the e-mails, various tools, Excel and Word templates, and people involved. And of course each manual step introduces the risk of errors.
Q. Can you cite some measurable benefits that customers have achieved?
A. Since CPQ has such a direct impact on sales productivity, return on investment (ROI) can be very high. One customer that delivers installation services for high-tech networking equipment drove more than US$1 million in additional sales margin during the very first quarter following the solution’s deployment, thanks to better pricing and discount control. Another company that sells life sciences solutions more than doubled the sales team’s customer-facing time. And yet another customer that sells payroll services reduced its time to book an order from weeks to minutes. So you can see, customers are realizing very high, very real ROI with their rollouts of CPQ technology.
Q. What does the new, integrated CPQ functionality bring to Oracle's sales and CX solutions?
A. CPQ is often called the missing link between a front-end customer relationship management (CRM) system and back-end enterprise resource planning system. It is something that makes everyone more productive: direct sales representatives; channel partners, including distributors and resellers, and even companies that sell direct to customers via their website or e-commerce. Public websites that sell direct to customers are more effective because they can sell more products with more complicated options, ensure every order is 100-percent accurate, and still provide a rich online ordering experience.
With Oracle CPQ Cloud, you can significantly increase the value of your CRM solution. CPQ will tightly integrate your forecasting process to what your reps are doing in the field and what they are communicating to customers. This speeds up sales cycles, improves forecast accuracy, and eliminates order entry errors. These advantages also improve the adoption rates of your current sales tools.
Q. How important is the mobility component?
A. Mobility is essential to any sales tool today. Sales reps need to access their tools on the road, from a variety of devices. If a salesperson can’t access his/ her tools from a mobile device, adoption will suffer. Worse than that, valuable selling time is wasted. That is why Oracle CPQ Cloud is platform-independent and mobile-ready.
Learn more about Oracle CPQ Cloud.