With Oracle Configure, Price, Quote, the organization sees cloud deal velocity increase twofold, boosting global sales productivity.
“This transformational buying experience empowers reps with more flexibility and enables our customers to accept quotes for Oracle Cloud Services online with the click of a button. Now, 70% of deals are accepted online and 60% are auto-booked. These wins would have been impossible without leveraging our CPQ and CX platforms.”
The Oracle Sales team spearheads the promotion of Oracle Cloud solutions to prospects and customers. The team comprises 50,000 sales representatives, managers, and presales consultants.
To generate quotes from customer prerequisites, the team historically relied on a variety of different coding systems. These heterogenous systems caused difficulty for cross-business line sales reps. The solutions required multiple logins—each with an individual password—as well as unique user interfaces and business flows, which generated multiple IDs to enable transaction tracing and management. The legacy systems also couldn’t provide sales representatives with clear pricing guidance.
The team’s reliance on disconnected solutions and processes caused errors, particularly around invoicing and provisioning. This prolonged the execution of even the simplest deals and frequently led to confusion and frustration for the representatives. Addressing the system’s glitches with limited self-service capabilities pushed document and approval processes offline, requiring intervention of multiple support teams.
Ultimately, the situation made the Oracle team realize that it needed to reduce the number of coding systems while integrating its existing CRM application with a robust, cloud-based Configure, Price, Quote platform.
We enable sales reps to complete their deal without any intervention. All of it is powered by Oracle CPQ Cloud.
Why Oracle chose Oracle CPQ
The Oracle Sales team knew it required an enterprise-strength CPQ platform to boost productivity. It also needed to accelerate and simplify the sales experience for representatives, as well as to improve the customer buying experience.
It was a logical step to adopt Oracle Configure, Price, Quote (CPQ), a cloud-based application enabling sales representatives to configure the right mix of products or services quickly and easily. Oracle CPQ also generates accurate, professional quotes to quickly meet customer pricing needs, and offers integration to such self-service features as in-app learning and chat. The user interface is highly configurable to improve ease of use and can combine as well as present multiple data types for rapid product package configuration.
Being an Oracle Cloud application, Oracle CPQ integrates natively with other Oracle solutions—including Oracle Advertising and Customer Experience (CX), Oracle’s cloud-based CRM platform that offers a 360-degree view of customers, with in-depth information about each of their transactions. The team wanted to use both powerful solutions to revise global sales and consulting processes.
In addition to doubling deal velocity, Oracle Configure, Price, Quote, combined with Oracle Advertising and Customer Experience, enables the online completion of 70% of deals—with 60% auto-booked.
Oracle CPQ, integrated natively with Oracle Advertising and Customer Experience and transformed how Oracle sales representatives nurture their accounts. Automating many of the global sales workflows and adding self-service capabilities accelerated deal closes: Reps now complete 85% of transactions independently.
Order booking is now automated, with booking status visible in real time. Additionally, integration with Oracle Advertising and Customer Experience eliminated the need for redundant transactional data input, which doubled average deal velocity with 70% of deals accepted online and 60% auto-booked.
The system’s user interface became more intuitive and streamlined. Oracle configured it to support 80% of the most common scenarios, making the adjustment process simpler and faster for the company’s sales team. The product catalog is searchable, and representatives can create and cache favorite deal packages for quick retrieval. Additionally, they can edit ordering documents without involving a contract specialist.
Transaction approval was automated, and the system guided requests for special options and discounting, factoring in variables such as product line and deal size. Oracle CPQ also shared discounting impact estimates on the fly. In addition, it enabled sales representatives to apply qualitative changes to the deal-making process, resulting in better, cleaner data. Reps now clearly understand customer prerequisites because pricing and discounting capabilities are embedded in the system. In a single screen, representatives craft quotes, starting with base products, and then modify them with add-ons or combine multiple solutions in one deal.
The customer experience improved as well, with more transparent agreements and simplified purchase and sales documents. Representatives quickly craft quotes and product configurations for presentation to customers, who can accept the bid with a single click. This way, instead of closing transactions through price discounts, salespeople now sell prospects and existing customers on the value of Oracle CPQ’s ability to meet business needs and challenges.
About the customer
Oracle offers integrated suites of applications and secure, autonomous infrastructure in the Oracle Cloud. The company operates in 175 countries, serves 430,000 customers, and drives US$40 billion yearly revenue.