Epicor Acquires KBMax, a Leader in Configure Price Quote (CPQ) Software
Lightning Partners Advises Leading Provider of Product Configuration Software for eCommerce
AUSTIN, Texas, May 27, 2021 (GLOBE NEWSWIRE) -– Epicor, a global leader of industry-specific enterprise software to promote business growth, announced today that it has acquired Configure Price Quote (CPQ) and visualization software provider KBMax. The transaction closed on May 27. Financial terms of the agreement were not disclosed.
KBMax software solutions will be marketed under the Epicor brand as a stand-alone module within the company’s productivity suite, aligning seamlessly with Epicor’s deep expertise in the global manufacturing engineer-to-order space. The ability to offer customers a highly customizable, industry specific one-stop solution that connects the front and back of the house supports Epicor’s mission to differentiate itself from the fleet of one-size-fits all off-the-shelf ERP solutions.
"Our customers are the essential businesses who make, deliver and sell the things everyone needs. We knew we needed to move fast, to enable them to be able to stay digitally competitive and build out scalable digital commerce capabilities,” commented Steve Murphy, Epicor CEO. “It's a perfect time for businesses to reach their customers in new and compelling ways. The integration of KBMax’s technology into our platform will solve that challenge for our customers, enabling them to create an information-rich and immersive online buying experience. The integration of next-gen CPQ tools with our ERP system will enable vital connectivity points to our customers across inventory, costs, pricing, and customer data.”
With complexity comes the need for real-time, reliable integration between systems, especially CPQ and ERP. Research shows that in 2020 80% of B2B buyer journeys took place online. Being able to configure a product in CPQ and instantly get 3D renderings and dimensioned drawings will dramatically reduce the time and cost it takes for Epicor customers to respond to RFP's, getting potential buyers the information they need to make a decision faster than ever before.
The integration of KBMax with Epicor’s ERP solutions will provide customers:
A seamless connection between sales and operation data improving demand planning and production.
A single source of truth for the most complex engineer-to-order projects delivering faster and more accurate sales quotes, fewer order mistakes and improved sales rep productivity.
The ability to navigate the escalating trend of self-service/online business by translating complex sales information into something easy to configure and visualize.
A centralized data hub that can be managed in a single application that delivers a full 360-degree view of a customer’s order/fulfilment status, allowing the front and back of house teams to work from the same playbook.
Supported business continuity for existing KBMax customers.
KBMax has transformed the buying experience for over 20,000 users and its CPQ software has delivered customers measurable improvements: on average a 168% increase in annual sales revenues, 38% faster sales cycle and a 35% increase in productivity.
“Epicor truly understands the industries it serves and its deep expertise in critical verticals from manufacturing to distribution make it the ideal home in which our technologies can nest seamlessly, deliver immediate customer value while allowing us to scale and expand the technology suite,” said Kevin Bennett, KBMax CTO. “The integration of our software into the Epicor portfolio will help ensure the world’s most essential businesses can digitally evolve and thrive.”
Lightning Partners served as the exclusive financial and strategic advisor to KBMax in the transaction.
Epicor Software Corporation equips hard-working businesses with enterprise solutions that keep the world turning. For nearly 50 years, Epicor customers in the manufacturing, distribution, LBM, retail, and automotive industries have trusted Epicor to help them do business better. Epicor’s innovative solution sets are carefully curated to fit customer needs and built to respond flexibly to their fast-changing reality. With deep industry knowledge and experience, Epicor accelerates every customer’s ambitions, whether to grow and transform, or simply become more productive and effective. Visit www.epicor.com for more information.
About Lightning Partners
Lightning Partners provides direction and advice to growth technology companies and their Boards of Directors on M&A, capital raising and strategy that drive significant shareholder value. The firm consistently and tenaciously delivers optimum results for entrepreneurs, growth companies and their investors, including industry leading valuations, transaction terms and close rates. For more information, visit www.lightningpartners.com.