Oracle CPQ BML Tutorial

This article explains about the Oracle CPQ BML offering from Oracle.
Oracle has always offered its customers exceptional services whenever they were in need. They provide a comprehensive and fully integrated stack of platform services and cloud applications to the users with a wide range of features and functions to support the customer’s various types of integration and customization needs. One such service provided by Oracle is Oracle CPQ BML. Here, CPQ stands for configure price quote and BML stands for Big Machines Extensible Language. In this article, you will get everything you need to know about Oracle CPQ BML.

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What is Oracle CPQ BML?

Oracle configure price quote or Oracle CPQ is a product provided by Oracle. It enables both the enterprises and small to midsized companies to streamline the whole opportunity-to-quote-to-order process which includes the basic processes such as pricing, ordering, product selection, quoting, configuration, and approval workflows.
The BML in Oracle CPQ BML stands for Big Machines Extensible Language as mentioned above. It is a scripting engine in the Oracle configure, price, and quote cloud which is specifically designed for capturing and processing complex business logic. BML assists all the functionalities that are expected from a present-day, business-oriented programming language. The complex integrations that greatly rely on processing outside the CPQ environment are made easier by the functions and features present in it.

Why Oracle CPQ BML?

Oracle CPQ BML provides extreme ease of use and configures according to the users. It helps the organizations automate and streamline the order conversion cycle and it acts as a bridge between the front-end Customer Relationship Management processes and the back-end Order Management and fulfillment systems. It helps the organization boost sales force productivity and the bottom line by enabling the sales representatives to focus on selling. This application can be applied to administration, configuration, commerce, and document engine. It supports integration with many CRM systems. It is a leading product in the market; many organizations use this as it improves their sales efficiency, quote accuracy, and ease of deploying new products. It directly benefits the sales team of an organization and helps increase sales.

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Why you should use Oracle CPQ BML?

Customers always look for a product that sells faster, eliminates maximum errors, close deals quickly, and improve margins and other tasks ensuring that the organization is growing continuously. But, they start to wonder if there is any product available that can fulfill all their requirements? Or how exactly can a CPQ solution fulfill all the needs of the customer’s growing organization?
The answer is, Oracle CPQ BML can do everything that needs to be done to make your organization progress at a fast pace. It streamlines sales practices, boosts revenue, accelerates sales, improves margins, and improves the business results by centralizing the business rules, contracts, pricing information, product data, discounting controls, and renewals. Moreover, all these tasks are done by the Oracle CPQ as it automatically offers the right product at the right price and automates the approval process thus shortening the sales cycles of a company.
The four major reasons why customers should use Oracle CPQ BML are as follows:

1. Enables self-service sales with verified performance – It quickly configures the products and services and enables the online requests for quotes. It helps the users to solve the complex configuration requirements so that they can address even the largest transaction volumes and users.
2. Accelerates sales velocity and regulates operations – It empowers the teams of an organization to work faster and smarter and provide the right solutions to the right customers. It controls and mitigates risks by aligning the process requirements and sales channels.
3. Improves deal margins – Oracle CPQ provides deal management and price optimization features to help users close big deals with high margins across all channels.
4. Simplifies administration – It provides an organization’s non-technical staff the tools that are required to handle most routine business processes.

Oracle CPQ BML Features

Oracle CPQ BML comes with a lot of features to ensure the best user experience and progress and performance of the organization in general. The features are as follows:

1. Configuration – Product catalog, guided selling, configuration rules, configuration pricing, visual configuration, and ease of use are the advantages that come under the configuration part.
2. Pricing – The pricing feature provides pricing flexibility, discounting, commercial rules, terms and conditions, renewals, and approval workflow.
3. Quoting – Features such as grouping, versioning, quote document generation; document customization, ordering, and contracts come under the quoting aspect.
4. Admin – Document admin, workflow management, pricing administration, and configuration ease of admin are provided under this.
5. Channels – It includes offline support, mobile user support,
6. Platform – It takes care of CRM integration, integration API, internationalization, performance, reliability, scalability, reporting, and dashboards.
7. Document Creation – Custom branding, PDF creation, rich media, template creation, flexibility, customizability, and online document creation is done here.
8. Workflow – It provides collaborative creation, document builder interface, and assembly and approval workflows.
9. Analytics – Engagement tracking and proposal effectiveness reporting is done here.
10. Administration and Platform – This tab provides features such as CPQ integrations, e-signature integration, alerts, notifications, API integrations, CRM integration and user, role, and access management.

Oracle CPQ BML Benefits

Oracle CPQ BML provides a lot of benefits to its users. It allows the salespersons of an organization to quickly configure and price complicated services and products, avoid maximum errors, simplify the approval processes, leverage cross-sell, up-sell, and renewal opportunities, and maximize the margins. All this is done with a seamlessly automated workflow but this is not it. It provides these 12 more benefits which are listed below:

• It sells the products of a company faster by improving the speed of the selling cycle. It is done by reducing the wasted time and building momentum.
• To gain control of the actions and maximize the profit margins, Cloud CPQ controls over how the salespersons of the company are allocating revenue on a deal. No matter how the prices are set in an organization, Cloud CPQ does the job perfectly. It establishes and maintains pricing, eliminates errors from financial calculations, assists in managing complex deals, safeguards margin calculations, and assures stress-free pricing approvals.
• It provides a designing and document composition tool with various templates to choose from so that users can make better-looking quotes and proposals. The users end up with high quality, personalized, and accurate proposals that help to make sales.
• The Oracle CPQ BML uses the configure, price, and quote feature to provide error-free orders to the customers. It delivers the information to the downstream system that executes the order.
• It offers guided selling feature by asking a few easily understandable questions about the needs of a customer. When the answers to these questions are given, CPQ presents a suitable choice to the salesman on basis of it. It provides freedom of choice to the customers, eliminates errors from financial calculations, and reduces mistakes.
• It improves the deal approval process by eliminating the delays. Automatic notifications, audit trail, easy access to required information, and approval process visibility further make deal approval processes quick.
• It can present the correct information and prompts to the salesperson at the right time which opens up amazing decision-making opportunities. It maximizes the sales as Oracle CPQ helps with pricing decisions, increasing performance objectives, and cross-selling and up-selling.
• Asset-based ordering aspect uses the knowledge of what services does a customer have that helps the salesperson in offering customers appropriate product, service, or contract.
• It reduces administrative burden by forecasting, rekeying information, easy order processing, and quote/proposal creation and by providing automated approvals.
• Oracle CPQ analyzes the data to provide insights that ensure better decision making and efficient processes.
• It simplifies the complex data, cuts through the clutters, and provides every team just the information that they need.
• Oracle CPQ maintains the audit reports so that approvals can be made, improvements can be done and data is available for future reference.

Oracle CPQ BML New Offerings

New improved functionality is added in Oracle CPQ BML that allows the users to do any task that they might need to perform for the benefit of the organization. There are many customers requested features and enhancements added in the latest update. Some of the new features include the BML compiler optimization, Set attribute value BML function, and support for insert, delete, update and modify BMQL functions have been added for live data tables. Enterprise platform features such as subscription management integration, generic integration services, advanced actions for commerce hiding rules, file attachment support, performance analysis, and user profile time zone list enhancements have been inserted for the best user experience.

Advantages and Disadvantages of Oracle CPQ BML

Oracle CPQ which was formerly known as Oracle CPQ Big Machines is a proven CPQ solution for every type of organization and enterprise. It is built for scale and agility, it drives sales productivity, supports the processes, ensures consistency, and increases selling margins but still, it has some pros and cons which the user should look into before making a decision.
Advantages –

• It is easy to use and adjust the system.
• It is helpful to the users and provides recurring assistance to them.
• It is intuitive and configurable. The required summary of the information can be seen at once.
• It has over 15 languages in it which allows the users to quote using their preferred language.
• The pricing engine is robust. It is highly customizable allowing the users to customize according to their needs.
• It has extreme ease of access, data storage, and low compile time for a cloud-based operation.
• It has a lot of power and flexibility and manages sales operations very effectively.

Disadvantages –

• It blocks or reduces the jobs frequently which are quite frustrating for the users.
• It doesn’t allow an interface which enables the user to freshen their settings at their routine.
• It is not aesthetically pleasing as the user interface is a little outdated.
• It has limited web service integrations and it is slow at times.
• There is a lack of organization in the software as the data clutters and unnecessary subcategories are formed which makes it difficult for the user to navigate.