How the demand for CPQ Software has increased during the COVID Pandemic

Pre COVID Impact on CPQ Software Market
Fluctuating Consumer Behaviour Nudging Companies to Opt for Omni channel Solutions
Fluctuating consumer behavior prompted the companies to focus on multiple channels for driving the sales of their goods and services. This led the companies to integrate digital commerce and other omnichannel applications with the CPQ suites and software. Some of the prominent companies operating in this market are Apttus, Oracle Cloud, and SAP.

The Increasing Number of Acquisitions
Some of the significant acquisitions that occurred within the marketplace are: Bigmachines acquired by Oracle, Salesforce acquiring SteelBrick, Configure One acquired by AutoDesk, and Cameleon Software by PROS. Various CPQ vendors, mostly privately held, find an acquirer or look forward to merging with other companies that can complement their core technologies.
Technological Advancements Generating New Growth Heights for the CPQ Software Market
The integration of machine learning features within the CPQ solutions, along with effective pricing and specific terms to close more deals, has boosted the sales of CPQ software, thereby generating a lucrative scenario for the overall market growth. Rapid advances and improvements in visualization, 3D modeling, and Configuration Lifecycle Management (CLM) also depicted the varying landscape of the CPQ software market.

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Company Strategies
Apttus has been focusing on the integration of CPQ software with Clinical trial management software for smoothening the drug development process by parallelly managing a number of operations, departments, and systems, thereby facilitating successful end-to-end clinical research programs.
Integration of CLM and CPQ - Dual Effective Strategy.

During the clinical trial process, various departments within an organization such as sales, procurement, contract operations, finance, and others are called together. The merging primarily comprises of vendor selection, budget and bid grid submission, multi-party contracts, regulatory compliance, study execution, milestone tracking, site aggregations, forecasting, and vendor performance management. This process stands out as one of the significant challenges within the industry.

The integration of CLM and CPQ comes up as a fixed solution to eliminate these inefficiencies and deliver an agile process in these unprecedented times. Apttus's AI-powered CPQ software provides a high level of integration to guide users across collaborating parties through the complex process while delivering accuracy and reducing cycle times and preventing human error.

Key USP:
• Market Size in terms of Revenue (USD Million) from 2014 to 2026
• Historical & Descriptive Analysis from 2014 to 2020
• Forecasts & Predictive Analysis from 2021 to 2026
• Market Drivers, Restraints, Opportunities, & Market Trends
• Market Attractiveness Analysis
• Segment Analysis
• Competitive Landscape and Company Market Share Analysis
• Porter's Five Forces Analysis
• Value Chain Analysis
• PEST Analysis
• Regulatory Landscape
• Technology Landscape
• COVID-19 Impact Analysis

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This release was published on openPR.