There’s no question that startups must invest in the right software to succeed.
One of the most important solutions businesses turn to is CPQ (Configure, Price, Quote) software. That’s because CPQ software makes selling complex products easier by allowing sellers to configure packages, provide pricing, and generate quotes quickly. This speeds up sales cycles, simplifies billing processes, and organizes deal tracking.
While CPQ is especially important for SaaS businesses — where products are often broken down by features, licenses, and subscriptions — lots of other businesses can benefit from it too. Which is probably why the global market for CPQ software is projected to reach $7.3 billion by 2030.
But with the industry flourishing, it can be difficult to know which CPQ software is the right one for your business. This is especially true for SaaS startups looking for their first CPQ solution.
So when is the right time to invest in CPQ software and which one should you choose? Well, we have all the answers, so keep reading.
As SaaS businesses grow, their need for CPQ software grows with it.
The problem is that once you fully realize you need CPQ, it can already be too late and you've lost out on deals due to slow sales processes, costly errors, and frustratingly complicated manual data tracking.
That's why it's key to know when it's time to bite the bullet and invest in a solution.
When prospects start rolling in, you'll need all the help you can get to make sure you can meet them with a sales process that's efficient, professional, and organized.
Losing out on sales because you don't have the capacity to configure quotes at scale is not a good look. So make sure that you have a solid system in place for when it's time to grow.
Who has time to update 3 spreadsheets every time you close a deal?
Not anyone looking to scale their business. Once the manual labor becomes a bottleneck, it’s time to consider using software that can make the process much faster and smoother.
Your brand is important and embarrassing mistakes can cost you deeply.
Not only can errors in your quotes lead to incorrect billing, inconsistent pricing, and missed payments, but mistakes also make your business look unprofessional, which will hurt your brand as you grow.
As your sales team grows it’ll get more complicated for you to stay on top of pricing and packaging. Sellers love to go rogue to close deals and not having CPQ software in place can leave you closing some complicated, untenable deals.
As your product expands, you’ll want to be able to sell multiple packaging options. This can get extremely hairy for startups doing this in a spreadsheet. Keeping track of what each customer has, the price you charged them, and the package they took can be complicated.
Salesbricks is a powerful, easy-to-use, and quick-to-set-up CPQ software that is ideal for software startups looking to scale.
Built around your pricing and packaging, the software builds easy-to-navigate sales structures for startups that are looking for an easy out-of-the-box way to sell their software. Not only does it make building, iterating, and perfecting pricing and packaging easy, but it also simplifies the quoting, billing, and payment process.
Best of all, it gives buyers a B2C-like buying experience that makes the B2B buying process as easy as can be.
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Integration capabilities:
Salesforce CPQ offers robust features and seamless integration with the Salesforce CRM.
This makes it an excellent choice for companies already using Salesforce for their customer relationship management. Its scalability and comprehensive suite of tools support everything from configuration to pricing and quoting, providing a holistic solution for growing SaaS businesses.
While it is a powerful tool for businesses, it can be expensive, overwhelming, and too complicated for young startups.
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Integration capabilities:
Oracle CPQ is a reliable and scalable solution that caters to businesses of all sizes. Its advanced features allow for extensive customization, making it suitable for startups with complex product configurations. Oracle CPQ is known for its strong integration capabilities, ensuring smooth operations within your existing tech stack.
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CloudSense offers a CPQ solution designed specifically for industries like telecommunications and media, but it is also highly adaptable for SaaS startups. It provides a user-friendly interface, strong integration options, and powerful automation features that streamline the entire quote-to-cash process.
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Conga CPQ supports complex pricing models, extensive product configurations, and automates the entire quoting process. Conga's flexibility and ease of use make it a great option for startups looking to optimize their sales processes without extensive training or onboarding.
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Investing in CPQ software can be a game-changer for SaaS startups, offering numerous benefits such as automated billing, reduced errors, standardized pricing, and faster sales processes. The key to reaping these benefits lies in choosing the right CPQ solution that aligns with your business needs and growth plans.
Salesbricks, Salesforce CPQ, Oracle CPQ, CloudSense, and Conga CPQ each offer unique advantages and integration capabilities, making them suitable for different types of startups. While we are biased and believe Salesbricks to be the ideal solution for everyone, we understand that choosing the perfect CPQ software depends on what you are looking for as a business.
While Salesbricks is perfect for startups looking for a powerful, easy-to-use, and quick-to-implement solution, Salesforce CPQ is ideal for those already integrated into the Salesforce ecosystem. Likewise, while Oracle CPQ caters to businesses needing advanced customization and scalability, CloudSense and Conga CPQ provide robust features and user-friendly interfaces that can adapt to various industry needs.
Before making a decision, consider your current sales velocity, the manual workload of your team, the frequency of errors, the size of your sales team, and the complexity of your product offerings. By evaluating these factors, you can determine the best time to invest in CPQ software and which solution will provide the most value.
Remember, the sooner you implement CPQ software, the sooner you can start reaping the benefits of streamlined processes, improved accuracy, and increased sales efficiency. Startups that invest early in the right CPQ solution not only gain a competitive edge but also lay a strong foundation for scalable growth.
By choosing a CPQ solution that fits your startup’s specific needs, you’ll be well-equipped to handle the complexities of your sales process, ensuring smoother operations and setting the stage for long-term success.
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