The subscription eCommerce market has experienced rapid and significant growth, and is an incredibly lucrative option for enterprises. Yet for companies still relying on ERP systems, there's no easy way to launch subscriptions. Enter CPQ.
The subscription eCommerce market has grown by more than 100% annually since 2013. This makes it an incredibly lucrative option for enterprises. Indeed, subscription services currently clock in at a calculated $10 billion in sales.
In an era where customers prize ease and convenience, subscriptions are an increasingly common way to buy products and services online.
According to McKinsey research, more than 15% of online shoppers have signed up for one or more eCommerce subscription products at some point.
For enterprises that are considering subscriptions, Configure, Price, Quote (CPQ) provides a foundation for enabling this tool.
For B2B businesses in particular, there are often complex configurations that occur behind-the-scenes of customer service.
Companies that are still utilizing an ERP, or Enterprise Resource Planning system, (or even worse, spreadsheets!), to manage these configurations have no way to enable subscriptions sustainably.
There are too many variables at play and far too large a margin for error. CPQ solutions give enterprises a way to move complex configurations and pricing out of older systems and into modern tools designed to automate these B2B subscription processes and easily scale as the business grows and needs evolve.
As an added bonus, Oracle CPQ has specific add-ons for subscriptions that sit right on top of your CPQ solution. This makes it particularly simple to launch subscriptions at any time, without increasing the workload or adding onto your business processes.
With the demand for subscriptions growing, and the benefits to your business significant, now is the time to consider moving to CPQ.
Not sure where to begin? Reach out to the team at Object Edge.
