In Germany both certificates are normally accepted. The
TOEIC is the most widespread certificate. The problem with the Cambridge is the limitation of test centres, also, the Cambridge Certificate is moreso a course whereas the
TOEIC Test is a focused test for English Proficiency. You could actually study with the Cambridge material and then sit the
TOEIC Test, but then again, you may not get the additional help associated with
TOEIC preparation.
The
TOEFL is also accepted in German universities and should also be considered, maybe to a greater degree than the
TOEIC.
There are a lot of preparation books for the
TOEIC and a dedicated
TOEIC website at
OnlineEnglish - TOEIC Preparation Online that has a very good name. That is if you need to prepare.
Anyway, these are the facts from Germany.