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If you’re trying to find the best CPQ software for your business, chances are you’re on a mission to learn all you can about each CPQ solution’s strengths, weaknesses, and their ability to deliver on your business’s distinct needs. Third-party research is a great place to start – it can help you get to a decision quickly and it’s got authority.
Take a holistic approach
To do this right, you’ll want to read through a variety of research. (We’ve made several sources available below.) Differences exist between the reports, so we encourage you to check out each for yourself.
We suggest that as you are reading through the reports to list out the strengths and weaknesses for each product and identify any themes that are repeated across multiple sources. These points can serve as your middle ground to give you a more discerning view of the CPQ software landscape.
As tempting as it can be to scan over findings, you want to take your time and carefully comb the detailed notes for every solution to compare against your requirements.
Requirements for a strong comparison
If you don’t have detailed requirements yet, just take a lean approach and brainstorm a standard set of questions with your stakeholders. Choose topics that are important to your business to build a focused picture of what your ideal CPQ solution should look like.
For example, you might want to look for the answers to these questions as you’re reading through the details for each solution:
- How tight is the integration with CRM, PRM, and ERP?
- Does the CPQ solution support a mobile workforce?
- How long will the implementation take?
- Is it a cloud-based solution that can minimize costs?
- What do customers say about their experience and performance with the solution?
Make note of any questions you can’t answer and search for the information on the solution’s website.
You’ll also want to keep all of your findings organized and easy to share. We suggest a spreadsheet —something simple is all you really need.
After you’ve worked through the research findings at this level of detail, you’ll have more clear direction on which solution providers to reach out to for a demo and next steps. You’ll also have a strong internal pitch because you’ll have a command of the entire CPQ software landscape.
Now that you’ve got the process down, use these links to access copies of the leading analyst findings to get a solid start on your path to finding the best CPQ software for your business.
The Gartner Magic Quadrant for Configure, Price and Quote Application Suites 2018 Gartner has provided information on what CPQ solutions generally offer, with an evaluation of each vendor among a variety of criteria, based on their analysis of the market. For these 11 vendors, you’ll find an overview of the offering, along with strengths, cautions and placement within the Magic Quadrant. Download the Report
Forrester Wave™: Configure-Price-Quote Solutions, Q1 2017 Forrester Research evaluates CPQ providers over 36 criteria important for CPQ vendors and provides research, analysis, and scoring of the 11 they’ve determined to be the most significant. Download the Report
The Constellation ShortList™ for CPQ for Q1 2018 Constellation compiles their ShortList based on research of companies meeting threshold criteria important in a CPQ solution. After evaluating 20 vendors in this market, 5 best-of-breed solutions made the “short list.” Download the Report
Good luck on this important journey. You’ve got some good tools to lead the way. If you’d like to talk with our Smart CPQ team about your next steps or have questions about the research, simply reach out to us and we’ll be happy to help.
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About the AuthorMore Content by Loretta Faluade