Approximately 50% of first-time Configure Price Quote (CPQ) software buyers experience implementation time and cost overruns due to poor preparation, lack of data integrity, and making the wrong vendor choice.

MGI MarketLens™ reports help companies better understand the relative positioning of technology suppliers within markets, simplify and accelerate solution evaluations, reduce risks, and optimize costs. Each MarketLens maps suppliers against a two-dimensional system of coordinates.

This MarketLens™ report maps 22 leading CPQ software solutions by comparing each vendor’s agility vs. its ability to handle volume. See an unlabeled example below:

A chart of the CPQ software market that plots 22 leading CPQ software suppliers by agility and ability to handle volume

MGI Research defines agility, volume, and complexity as follows. More detailed definitions can be found in the full report.

  • AGILITY: CPQ Agility describes the flexibility to quickly configure and change the CPQ system to handle new product and/or services configuration rules, pricing models, and quote presentation parameters and formats.
  • VOLUME: MGI measures CPQ Volume in terms of a typical number of quotes handled per month and quotes with numerous line items. The vast majority of CPQ Implementations today still have a relatively modest set of volume requirements (< a few thousand quotes per month and <100 lines per quote). But a significant and growing number of use cases require CPQ systems to handle numerous quotes with complex calculation rules, data integration, and support upwards of several thousand line items per quote.
  • COMPLEXITY: MGI assigns a relative score of CPQ Complexity on a scale of 0 to 100 based on the most likely (not necessarily the most complex) use case a supplier can tackle with ease. The CPQ Complexity measurement is synthesized based on numerous factors including, but not limited to: configuration complexity, pricing complexity, quoting complexity, organizational complexity, customer complexity, channel complexity, business rate of change complexity, data complexity, and more.

Given the diversity and domain experience of CPQ software solutions rated in the CPQ Top 25 Buyer’s Guide, it is critical to identify suppliers whose ideal use cases and experience match your organization’s specific requirements. Some vendors excel at Services CPQ (e.g., Workday), while others are a fit for manufacturing companies. A solution like Salesforce is ideally suited for broad, simple quoting needs. On the other hand, highly agile quoting solutions (e.g., DealHub) are appropriate for smaller organizations in need of a lightweight solution that can be implemented and managed without external resources or specialized technical skills.

CPQ Vendors Under Coverage

The CPQ Top 25 Buyer’s Guide provides ratings and analysis of the 25 most significant suppliers of CPQ software solutions. It includes MGI 360 Ratings™ of 15 suppliers and analysis of 10 honorable mention vendors. According to MGI Research, these are the most significant solutions and suppliers in the market today. Only the top vendors are included in this report. MGI 360 Ratings are calculated via a rigorous quantitative rating (scored 0-100). MGI 360 Rated™ suppliers are also given a letter grade based on quartile rating results, as well as a qualitative analyst outlook (positive, neutral, or negative).

The 15 vendors receiving full 360 Ratings and letter grades are: CloudSenseCongaDealHubEpicorExperlogixLogik.ioOraclePROSRevalizeSalesforceSAP, servicePathTactonWorkday, and Zuora.

The 10 suppliers receiving honorable mention, but not rated for this report, are: CincomExpedite CommerceInforOracle NetSuitePricefxSalesbricksSubskribeVeloceVendavo, and Zilliant.

MGI Research tracks approximately 30 more vendors in this space and reserves the right to publish ratings and analyses on select vendors as deemed worthy and appropriate.

What is Configure Price Quote (CPQ)?

Configure Price Quote (CPQ) is a software discipline that enables companies to automate complex sales processes. It is typically packaged as a mini-suite of related capabilities enabling precise product configuration, accurate pricing, and rapid quote presentation across all types of channels – direct, indirect, partner/reseller, self-service, guided e-commerce, and OEMs. CPQ is a key element of the agile monetization platform.

CPQ solutions promise a smooth end-to-end customer experience, reduced friction in the sales process, and improved precision and accuracy of product combinations, pricing, terms, and conditions. When properly implemented, CPQ reduces the possibility of quote rejection due to human error. It makes the sales channel smarter and faster, and makes the sales process and downstream outcomes more predictable.

CPQ allows mass customization of relatively complex product lineups, enabling channels to sell complex products at scale. This applies to a broad range of product types – from digital subscriptions and financial services to cars and wind turbines. CPQ has applications in a broad spectrum of industries and business models across a range of stages of maturity: B2B and B2C, physical, digital, and hybrid combinations of goods and services, across myriad channel combinations.

To understand this market, buyers must consider the specific CPQ application(s) their organization requires – does the use case call for a highly-agile, mass-market solution? Or do their specifications and use cases necessitate a vertically-oriented solution that requires highly skilled implementation and administration resources? CPQ is not a single market, but three distinct submarkets: C, P, and Q. MGI Research will publish an in-depth analysis of pricing-focused solutions in 2025.

CPQ Top 25 – Why These Companies?

This report focuses on the top 25 vendors in CPQ and provides comprehensive MGI 360 Ratings™ on the top 15. These vendors are among the most consequential CPQ suppliers in the market and merit the attention of buyers, partners, and investors. The MGI 360 Rating methodology is quantitative in nature with a tough, nonlinear grading scale (see the report for more detail). Any vendor among the 15 rated suppliers is, in our view, important and impactful, regardless of the absolute score. The 10 companies receiving honorable mention also merit user attention and may or may not receive full 360 Ratings in future evaluation cycles.

The criteria for inclusion include one or more of the following:

  • Market visibility: The company meets one or more of the following characteristics: above-average growth, often included in longlists and shortlists of buyer evaluations, large installed base, and/or most MGI clients express interest in the company or mention them in analyst calls.
  • Innovation: The product has unique capabilities and the potential to disrupt the market – buyers should be aware of this product/company, even if it is not a fit for them today.
  • Solution strength: Breadth and depth of solution, support for various business models and use cases, and the supplier’s ability to help customers implement and gain value from the solution.
  • Demonstrated success: Most, but not all, vendors covered are able to provide MGI with reference customers and partners to interview. Independent of the provision (or lack thereof) of vendor references, MGI conducts its own interviews and field research on customers, partners, and investors.

There are hundreds of CPQ software providers offering products that range from basic sales quoting tools to highly sophisticated product configurators and AI-driven price optimization engines. Vendors are not excluded uniquely based on size (e.g., revenue or customer count below any threshold) or willingness to participate in the research process.

About MGI MarketLens™ Reports

The CPQ market is highly fragmented – while some solutions look similar on the surface, they address completely different use cases and buyer personas. MGI MarketLens™ charts plot suppliers using a pair of key coordinates to shed light on the variations among solutions in each market. They help prospective buyers, investors, and partners see where products align relative to core requirements.

There are four types of MGI MarketLens™ charts:

  1. Solution Strength vs. Go-to-Market Strength: Solution Strength represents a supplier’s MGI 360™ Product score, while Go-to-Market Strength is a composite of the supplier’s MGI 360™ Management, Channels, Strategy, and Finance scores.
  2. Complexity vs. Agility: Complexity refers to a solution’s ability to handle complex quoting, configurations, and pricing scenarios, while agility refers to the agility of the CPQ solution itself.
  3. Volume vs. Agility: Agility refers to a solution’s flexibility to quickly deploy new CPQ capabilities and introduce changes, while volume refers to the volume of quotes and transactions a CPQ solution can handle.
  4. Complexity vs. Volume: Complexity refers to a solution’s ability to handle complex quoting, configurations, and pricing scenarios, while volume refers to the volume of quotes and transactions a CPQ solution can handle.

For more on these vendors, the CPQ market, and MGI 360 Ratings, get the CPQ Top 25 Buyer’s Guide.

There are 3 additional MGI MarketLens™ reports for this specific group of vendors including:

SPEAK TO AN ANALYST: Organizations looking for additional support in crafting an evaluation strategy and conducting an independent assessment of potential suppliers should contact MGI Research here.

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MGI Research clients can download the CPQ Agility vs. Volume MarketLens™ below.