LONDON--(BUSINESS WIRE)--Technavio has announced the top six leading vendors in their recent global configure price and quote (CPQ) software market report from 2017 to 2021. This research report also lists eight other prominent vendors that are expected to impact the market during the forecast period.
The CPQ software market is mainly driven by the increasing need for reducing errors in pricing and quotes among several end-user industries such as industrial machinery, automotive, retail, IT, and BFSI. Also, there is an increasing need from the IT industry in APAC, mainly from software development companies to quote their products correctly. The IT industry is a highly competitive industry and pricing and quoting plays a major role in staying ahead of the competition.
Competitive vendor landscape
The presence of many vendors has fragmented the global CPQ software market. Small players are finding it difficult to compete with the larger players such as Oracle, Salesforce, and Apttus in terms of reliability, features such as cloud support, and technological innovations. The competition in this market is expected to intensify with an increase in technological innovation and M&A during the forecast period.
“The major players in the market innovate and upgrade their products continually. The local players are not able to cope with the R&D capabilities of the big software vendors. Hence, they face the risk of technological obsolescence. Intense competition, rapid advances in technology, and frequent changes in consumer preferences are significant risk factors for vendors,” says Ishmeet Kaur, a lead enterprise application research analyst from Technavio.
The vendors should add distinguishing features in their products through clear and unique value propositions to survive and succeed the market competition. The development of innovative products by the vendors will help the market growth during the forecast period.
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Top six CPQ software market vendors
Apttus is a quote-to-cash solutions provider. The quote-to-cash solutions provided by the company have features such as CPQ, contract management, e-commerce, and revenue management. All the applications developed by the company can be enhanced with machine learning to suggest relevant and intelligent actions to the end-users.
Callidus Software is a major player in cloud-based sales, marketing, and customer experience solutions. The company provides a suite of SaaS solutions, which include cloud subscriptions, services, and term licenses. The company is based in the US and has offices across the globe.
FPX is a provider of experience management solutions for enterprises. The company also develops CPQ software for enterprises for optimizing the buying and selling experience across sales teams, partners, and e-commerce channels. The company is based in the US and has set up offices in the world including the UK and Germany.
Oracle is a provider of middleware software, database, cloud infrastructure software, hardware systems, application software, technical support, and related services. Oracle CX Cloud includes an integrated set of applications for an entire customer life cycle. Oracle CPQ cloud is the CPQ solution provided by the company and comes under Oracle CX cloud segment.
PROS is a cloud software company that uses an algorithmic approach to generate personalized offers and pricing at the right time. The company expanded its product portfolio by expanding Cameleon Software, a CPQ software developer, in October 2013.
Salesforce.com, generally known as Salesforce, is a provider of cloud enterprise software, including CRM solutions. The company also provides connectivity solutions to its customers through the cloud, mobile, social, IoT, and AI technologies. The company sells its products through direct sales methods such as telephone sales and field sales personnel based in locations close to their customers.
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