Oracle (ORCL) has added new features and improvements to its Oracle CPQ (Configure, Price, and Quote) Cloud, which was enhanced last year after acquiring Big Machines software. The latest release of Oracle CPQ Cloud include enhancements that support extended integrations with Oracle Sales Cloud and Salesforce.com, enabling automation, efficiency, and accuracy throughout the sales process.
“The addition of Oracle CPQ Cloud to Oracle CX Cloud makes it the best cloud-based suite of marketing, sales, and customer service tools for businesses of all types and sizes,” said Ken Volpe, Senior Vice President, Oracle Product Development. “Oracle CPQ Cloud helps improve customer satisfaction and sales efficiency. Its integration into Oracle CX Cloud enables sales teams to sell more and sell faster, from lead to order, and service through renewal.”
New features in the latest release include formula management for complex pricing and discounting calculations, migration rollback, function-to-function calls, and a re-launched product help feature. It has also enhanced benchmarks and tuning for large quotes. CPQ Cloud Development benchmarked a 2,000 line item quote and optimized the most common activities users perform to complete the sales cycle. As a result, system performance improved up to 80 percent.
Customers of Oracle Sales Cloud can now easily integrate their sales force automation tool with Oracle CPQ Cloud. CPQ Cloud and Oracle Sales cloud share a single sign-on via SAML, and CPQ Cloud can import and export information from a variety of Oracle Sales Cloud standard and custom objects. CPQ Cloud also supports Salesforce.com with enhancements include updates to the administrative capabilities to provide better data synchronization and reduced system maintenance while utilizing the latest Salesforce.com integration APIs.
The new release includes new features optimized for tablet devices, with field sales agents in mind. Oracle CPQ Cloud on the tablet allows sales agents to sell collaboratively and to offer an engaging and interactive customer experience via a tablet device.
“BigMachines has developed a reputation for building category-leading CPQ solutions that help customers sell accurately and intelligently,” said Christopher Shutts, Oracle Vice President of Development, and BigMachines Co-Founder. “Customers can achieve greater sales performance and improved customer experiences as a result of Oracle’s commitment to increase investment in the innovation of the Oracle CPQ Cloud product.”