Cpq Industry Statistics

In this post, we will explore key statistics surrounding the CPQ industry, shedding light on the significant impact CPQ software has on the effectiveness and efficiency of B2B companies. With data revealing improvements in quoting accuracy, negotiation assistance, reduction in configuration errors, and more, it’s evident that CPQ tools play a vital role in modern sales operations.

Statistic 1

"The average adoption rate of CPQ among B2B companies stands at 40%."

Statistic 2

"Companies report a 48% improvement in quote accuracy with CPQ software."

Statistic 3

"CPQ tools can reduce configuration errors by up to 95%."

Statistic 4

"72% of CPQ users state that the software assists with better negotiations."

Statistic 5

"The global CPQ software market witnessed a 12% CAGR from 2017 to 2022."

Statistic 6

"The CPQ solutions market is becoming more cloud-dominated, with 70% of new investments being cloud-based by 2023."

Statistic 7

"CPQ implementation increases upsell and cross-sell rates by 15-20%."

Statistic 8

"Integration capabilities are a critical factor for 67% of CPQ software buyers."

Statistic 9

"CPQ solutions reduce human error in quoting by 30%."

Statistic 10

"Around 83% of businesses leveraging CPQ software see a significant reduction in sales cycle time."

Statistic 11

"Businesses using CPQ software experience an average of 10% higher sales quota attainment."

Statistic 12

"Organizations using CPQ automation report a 25% increase in average deal size."

Statistic 13

"CPQ software adoption leads to a 20-40% reduction in Time To Quote (TTQ)."

Statistic 14

"54% of businesses state that CPQ tools help streamline the quoting process significantly."

Statistic 15

"The efficiency of CPQ systems leads to a 50% reduction in approval times."

Statistic 16

"90% of CPQ users report increased productivity in their sales teams."

Statistic 17

"CPQ software market size is expected to reach $1.4 billion by 2025."

Statistic 18

"60% of businesses report easier compliance with pricing policies using CPQ software."

Statistic 19

"57% of companies reported a positive ROI within the first year of deploying CPQ software."

Statistic 20

"75% of salespeople claim CPQ tools are vital for accurately quoting complex products."

The statistics presented highlight the significant impact of CPQ software on B2B companies, showcasing improved quote accuracy, reduced configuration errors, enhanced negotiation capabilities, and increased upsell and cross-sell rates. The data also points towards the growing dominance of cloud-based CPQ solutions and the anticipated market growth in the coming years. With benefits including reduced sales cycle times, higher sales quota attainment, increased deal sizes, and enhanced productivity, it is evident that CPQ software plays a crucial role in streamlining processes, improving efficiency, and driving revenue growth for businesses.