Oracle Named a Leader in 2023 Gartner® Magic Quadrant™ for Configure, Price, Quote Applications for Seventh Consecutive Year
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Oracle's positioning as a Leader in the Gartner Magic Quadrant for Configure, Price and Quote Applications signifies a robust product offering and a strong market presence. The evaluation based on 'Completeness of Vision' and 'Ability to Execute' indicates that Oracle not only has a comprehensive understanding of the market but also the operational capabilities to deliver on its strategic vision. This sustained recognition over seven years suggests that Oracle has been consistently investing in its CPQ solutions to stay ahead of industry trends and customer demands.
From a market perspective, this news is likely to reinforce investor confidence in Oracle's product strategy and its execution capabilities. Oracle's focus on enhancing its CPQ solutions with artificial intelligence and running them on Oracle Cloud Infrastructure can be seen as a move to capitalize on the growing demand for cloud-based solutions and advanced analytics in sales processes. This could result in an increase in market share and potentially higher revenue streams from the CX suite, which could have positive implications for Oracle's financial performance in the long run.
Recognition by a reputed analyst firm like Gartner often plays a significant role in influencing customer purchasing decisions, potentially leading to an increase in sales and market share for Oracle's CPQ solutions. The inclusion of advanced AI functions within Oracle CPQ may lead to operational efficiencies for its users, which could translate into a competitive edge and higher customer retention rates. For investors, these developments could mean a more favorable risk/reward profile for Oracle's stock.
However, it's essential to consider the broader competitive landscape and the fact that Oracle is one of several companies in a highly competitive market. Therefore, while the news is positive, investors should monitor Oracle's continued innovation and market penetration relative to its competitors to gauge the long-term sustainability of its leadership position and its impact on the company's financial health.
Oracle's continued investment in its Fusion Cloud CPQ solution, particularly in AI, is indicative of the broader industry trend towards intelligent automation in sales processes. CPQ technologies are becoming increasingly critical for companies looking to streamline their sales operations and enhance customer experiences. Oracle's strategy to integrate CPQ with its broader Cloud CX suite demonstrates an understanding of the need for cohesive data and workflow management across different customer touchpoints.
As organizations increasingly seek out integrated solutions for marketing, sales and service, Oracle's comprehensive suite positions it to meet these market demands. For stakeholders, the key takeaway is Oracle's commitment to innovation and customer-centric product development, which is essential for maintaining a competitive edge in the technology sector.
Report highly rated Oracle Configure, Price, Quote (CPQ) for "Completeness of Vision" and "Ability to Execute"
Gartner defines configure, price, and quote (CPQ) applications as software that enables sales organizations to automate and optimize the creation of quotes and capture of orders. Of the 16 companies evaluated, Oracle was recognized as a Leader based on "Completeness of Vision" and "Ability to Execute."
"Many organizations still require their salespeople to navigate complex technical and process challenges to serve their customers. As a result, salespeople spend too much time on making quotes rather than making quota," said Kartik Raghavan, senior vice president, applications development, Oracle. "With Oracle CPQ, salespeople can quickly configure and price complex products or services, while avoiding errors and taking advantage of upsell, cross sell, and renewal opportunities. We believe that being named a Leader acknowledges our on-going investment in CPQ and our commitment to helping organizations maximize revenue and improve operational efficiency."
Oracle CPQ, built to include powerful artificial intelligence functions and running natively on Oracle Cloud Infrastructure, helps organizations from all industries shorten sales cycles and lower operational costs by enabling them to automate and optimize configuration, pricing, and quotation models. Oracle CPQ is part of Oracle Cloud CX, an integration suite of applications that helps organizations connect data and workflows across marketing, sales, and service to make every customer interaction matter. Read more about these results and please visit oracle.com/cx to learn how Oracle Cloud CX can help organizations improve the customer experience and build brand loyalty.
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Gartner® Peer Insights™ provides verified customer ratings and peer reviews. As of January 10, 2024, Oracle Cloud CX customer reviews include:
- "Oracle is providing a user friendly platform for all your sales and CRM at one go." – Associate, Finance industry (Read Full Review)
- "The suite offers capabilities for customer data management, allowing businesses to centralize and leverage customer data from various sources. This data can be used to gain insights into customer behavior, preferences and engagement across different touchpoints, enabling personalized marketing and improved customer experiences." – International Account Manager, Consumer Goods industry (Read Full Review)
- "Overall, I have a positive experience with Oracle Advertising and Customer Experience. It is a comprehensive suite of applications that can help business of all sizes to create, manage, serve and nurture lasting customer relationships." – Presale Engineer, Telecommunication industry (Read Full Review)
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Gartner, Magic Quadrant for Configure, Price and Quote Applications Published 11 December 2023. Analysts: Mark Lewis, Dayna Radbill
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