Vendavo, a leading provider of commercial excellence solutions, today announced it has again been positioned by Gartner, Inc. in the Niche Players quadrant of the Gartner Magic Quadrant for Configure, Price and Quote Application Suites*.
An integral part of the quote-to-cash business process, Configure, Price and Quote (CPQ) Application suites enable the enterprise to maximize profit and win more deals with every quote. According to the report, “In 2017, the CPQ market grew by 36% to $1,084 billion. Almost all the growth related to cloud-based offerings. Gartner forecasts that the CPQ market will continue to grow at about 25% annually through 2020.*”
“We consider inclusion in the Magic Quadrant for Configure, Price and Quote Application Suites by Gartner further confirmation of our mission to support organizations in boosting their sales efficiencies and effectiveness while delivering a better customer experience,” said Bruno Slosse, President and CEO, Vendavo. “From the beginning, our focus has been to infuse unparalleled profit intelligence capabilities within the CPQ workflow for powerful, profitable deal making. With our long history and deep experience in B2B price and revenue optimization, Vendavo is uniquely positioned to offer this breadth of commercial excellence capability.”
Vendavo CPQ Cloud is a SaaS solution that provides integrated guided selling, product and pricing configuration, quotation, proposal and contract support for the enterprise. Sales can now achieve improved performance in the quoting cycle, which means more quotes with increased accuracy and less time spent on administrative burdens and more time in front of customers. Vendavo CPQ Cloud also integrates with Salesforce Sales Cloud, Microsoft Dynamics 365, SugarCRM and others which lowers cost of implementation.
“Today, just 28% of the CPQ application suites are cloud delivered. Separately, Gartner estimated that the ‘2Q18 global spending forecast for public cloud services in 2018 is $187.2 billion in constant U.S. dollars, with 18.2% growth over 2017’ **,” Slosse said. “A feature-rich, SaaS-based CPQ solution with intelligent pricing science that can be seamlessly integrated with enterprise CRM and ERP systems is an important piece of the puzzle for organizations seeking smart top line and bottom line growth.”
To be considered for inclusion in this Magic Quadrant for Configure, Price and Quote Application Suites, the report states that “a vendor must demonstrate that it satisfies the following criteria in relation to its CPQ offering: Front-office product – the product must support the direct sales channel, at a minimum; Current – the product was generally available for sale on 31 March 2018, without restrictions or special approval; Cloud – the product is implemented in the cloud as defined [as follows]: All technology infrastructure managed either in the vendor’s own data centers or those of a third party that is not the end customer; Vendor implements upgrades as part of the cloud service. Upgrades are not performed by a third party, managed service provider or the customer themselves. The cloud service is licensed on a subscription or metered pay-for-use basis; All major application capabilities (end-user features, administration and customization) are implemented using standard internet technologies and are available in a web browser. ; Customers cannot modify the application source code. Customization via citizen developer tools and extension via PaaS (partner, vendor or user) or APIs is allowed; A single code line is used for all customers of the cloud service to allow rapid deployment of new functionality by the vendor; The vendor delivers at least two upgrades containing new functionality per annum to all users of the cloud service. Upgrades may be pushed by the vendor or implemented at a time agreed by the vendor and the customer; Core CPQ capability – the product provides out-of-the-box support for sales force automation integration, product selection, configuration of options, pricing and proposal generation, at a minimum; Growing – the vendor closed deals with at least five new clients for cloud deployment between 1 April 2017 and 31 March 2018; Enterprise grade – the product has at least 5,000 total named users running in the public cloud, in production. The list of customer references provided for the reference survey must include at least three references with more than 100 names users each in the cloud. Those references must confirm the size of their deployment in the reference survey; Viable – the vendor has at least $5 million in annual CPQ revenue and more than 50 employees.”
To read a complimentary copy of the November 2018 Gartner Magic Quadrant for Configure, Price and Quote Application Suites, download the report here.
- Read the whitepaper: Top 5 Capabilities of Modern CPQ Solutions
- Watch the On-Demand Demo of Vendavo Intelligent CPQ
*Gartner, “Magic Quadrant for Configure, Price and Quote Application Suites,” Christina Klock, Mark Lewis, Melissa A. Hilbert, 5 November 2018.
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