By Graham McInnes, Senior Principal Product Manager, Oracle
Configure-Price-Quote (CPQ) is more than just a sales tool, it's a path for business transformation. It gets sales teams out into the field, in front of customers, and closes deals faster. It can be used as a self-service tool for the end-user; it can support a robust partner/distributor ecosystem, and it can be used to speed sales cycles and ensure that promises become realities.
The CPQ vendor ecosystem has exploded in recent years and with that growth so has the noise and misinformation.
Myth: CPQ vendors are all the same.
Truth: It is a crazy market now full of new upstarts, tentative alliances, crumbling partnerships, assurances/exaggeration, over simplification, and one-size-fits-all offers. A CPQ solution touches many facets of an organization, so not vetting a vendor thoroughly could lead to a spectacular failure. And this could mean many things, not just situation where the customer refused to sign off on the go-live. It could very well mean low user adoption by the sales team or that the data and the reports produced by the news are not trusted. The fact of the matter is that CPQ solutions are different—very different.
Oracle CPQ is trusted by over 400 well-known brand names and used by more than 400,000 employees. You can trust us.
Myth: Other vendors say CPQ projects are easy.
Truth: Signing the contract is easy. Initializing an instance of the software is easy. Other CPQ vendors may minimize the importance of implementation and integration and then come back and attempt to rescope the project. This is the same thing as them providing you with a square peg and asking you to smash it through a round hole. Beware; sometimes the simplicity of the purchase leads you down the wrong path.
Myth: Oracle CPQ Cloud implementations are lengthy.
Truth: Implementation can take as little as four weeks. The reality is that companies, systems, and processes can be complex, especially if a variety of solutions have been cobbled together to solve problems as they arise. We acknowledge this. Simplification and integration is what we are good at. Actual go-live timing depends on the scope of the rollout; what products are covered, which processes are included, what documents/reports need to be created, and what parts of the ecosystem need to be connected to gain value. We will work with you to determine what roll out plan is best for you. It may be a multi-phased approach with quick hits along the way or more of a “big-bang” approach. Whatever works for your business needs.
Myth: Oracle CPQ Cloud is complex.
Truth: We have a loyal customer base with ultra-complex product variations and world-class pricing complexity. But the reason Oracle CPQ is used by these businesses is not because the product is complex, it’s because the solution easily handles complexity. That doesn’t mean Oracle CPQ Cloud is complex. Our solution can comfortably handle both simple products/simple pricing scenarios and complicated products/complicated pricing structures. How you implement is your choice; you can start simple to achieve an early ROI and build up the use of CPQ as your business grows. It’s up to you.
Myth: Oracle CPQ Cloud will force fit business process changes.
Truth: You should never change your business to fit the capabilities of a particular application. If our competition is guiding you towards ‘Best Practices’ it may be that their CPQ cannot handle your particular business processes or needs. Rolling out a CPQ Cloud solution isn’t just “automating” certain specific process with a new tool. That only serves to shift your bottlenecks elsewhere because that process is a little faster. You need a CPQ tool that can communicate and share data with all your systems, supporting your company in how you want to do business, not the other way around.
Myth: Oracle CPQ Cloud is a challenging product.
Truth: A well-executed CPQ Cloud implementation introduces process efficiencies that touch many parts of the company. For many organizations, a CPQ project is the first time they have had the opportunity to map out their entire process flow including all parties involved, system challenges, approval points, wild card dependencies, integration and transition points, and commonly accepted process disturbances unique to the organization. This usually means organizational changes and that is challenging. That doesn’t mean that CPQ is challenging or complex. In fact, CPQ is often the first part of a larger ‘get going, get better, get ahead’ initiatives at growing companies.