In today’s fast-paced sales environment, staying ahead of the competition requires more than just traditional sales tactics. Sales teams are increasingly overwhelmed with large portfolios, complex product offerings, and bigger quotas, and they’re struggling to deliver the fast and personalized experience buyers are looking for.
CPQ decisively changes the game for sales teams by giving them the functionality they need right from their Customer Relationship Management (CRM) tool. In addition to increasing the adoption and use of the CRM—along with the ERP and customer-facing platforms—it also:
The CPQ Market is projected to grow from USD 2.58 billion in 2023 to USD 7.96 billion by 2031. That’s a compound annual growth rate (CAGR) of 16.5% from 2024 to 2031. This makes it clear that business leaders are seeing the real value and importance of adopting software to help accelerate sales teams in an ever-changing, complex digital economy.
The robust configuration engine you want should be able to process large amounts of data quickly, allowing sales teams to generate accurate, complex, and/or high-volume quotes in minutes, not days. This speed is vital for maintaining sales responsiveness in digital channels even for the most sophisticated use cases, ensuring customer satisfaction and a competitive edge in the market. Ultimately, you want a solution that accelerates the sales process and helps the sales function navigate complexity with ease, so make sure the CPQ software you choose measures up.
A full CPQ implementation is usually completed using a multiphase, multistep project approach, and should lead to a simplified and sped-up sales process. In fact, a proper CPQ implementation and user adoption process can ultimately reduce the average time to configure and order placement from 30 days to a couple of hours and reduce product launch time by 75%. The right CPQ partner can help you get there.
A CPQ solution with omnichannel capabilities collects customer data across all diverse touchpoints that customers use, turning this information into insights on buyer behavior and preferences. Using this information in sales interactions with customers allows those customers to receive a frictionless and consistent experience across all sales channels, including direct sales, partners, and digital self-service platforms. This consistency increases the chances of successful buyer-seller relationships and helps build customer trust and satisfaction.
Omnichannel functionality also ensures a business can react better to market dynamics and evolving customer demands and emphasize the touchpoints that make most sense in specific, external conditions to stay competitive. A CPQ supporting multiple channels provides buyers with 24/7 access to the most current product information and service options, allowing them to convert at their convenience. A powerful omnichannel CPQ also empowers international companies to reach and serve a global audience while maintaining a localized sales approach, ensuring offer relevance to regional opportunities.
Stay tuned for the next blog post in this series. In it, we’ll focus on success stories from some of our Smart CPQ customers who switched from other solutions, including how and why they made the switch.
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Victoria Dreharova, Senior Product Marketing Manager at PROS, leads the go-to-market strategy for PROS B2B solutions. Victoria is a marketing professional with strong international B2B background and more than fifteen years of industry experience in Financial services, Technology and Utilities. She is passionate about omnichannel customer experiences and understanding how digital innovations impact business models and drive pricing and selling efficiency. |
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Andrea Hern, Industry Solutions Marketing Specialist at PROS, leads the go-to-market strategy for the food and consumables industry. Andrea is passionate about making data driven decisions, telling compelling stories, and simplifying complex ideas. |