Salesforce CPQ

 CPQ Salesforce, or Configure, Price, Quote Software by Salesforce, is a sales tool for companies to provide accurate pricing with any
given product configuration scenario. CPQ applications take into account optional features, customizations, quantities, and discounts, allowing sales reps to quote prices quickly and accurately.

  • Before moving forward with the sales process, you must fill out key facts about the products or services. Aligning your product or service to your customer’s needs can help you maximize utilization.
  • Configuration involves carefully and smartly creating a bundle for customers which contains all the services they need. When creating a product for a client, the three most important characteristics are quality, quantity, and configuration guidelines.
  • Post the product’s configuration; the correct pricing must be determined. Users can apply discounts to products and bundles, and Salesforce CPQ will figure out how much the items or services should cost.
  • After adding discounts, the sales team can quickly establish the unit, block, and subscription pricing with Salesforce CPQ.
  • The CPQ process concludes with the generation of product and service quotations.
  • Finally, the quotations must be signed and authorized. Users can create customized branded quotes using Salesforce CPQ.

CPQ Data Model & Features of Salesforce CPQ

Salesforce CPQ includes more features that help users quote the correct pricing for a product or service to customers. Here are some of the features.

  • Price Fixation
  • Quote Generation
  • Guided Sales
  • Product Configuration
  • Salesforce Billing
Price Fixation
  • CPQ allows users to manage pricing in various scenarios, including block prices, prices based on margins and costs, pre-agreed rates for each client individually, and volume discounts.
Quote Generation
  • With Salesforce CPQ, businesses can generate quotes for different product configurations more swiftly and accurately, enabling them to offer accurate quotations for bundled products.
Guided Sales
  • It allows you to define rules so that goods and services are shown through a sequence of questions and answers specifically designed to boost sales representatives’ efficiency.
Product Configuration
  • Sales teams can use Salesforce CPQ to set up systems for product bundling. It also allows them to add or remove items from a bundle, assisting the sales team with quick order line generation with quantities and discounts.
  • Product rules can also be used to eliminate pricing inconsistencies and make cross-selling and upselling proposals easier.
Salesforce Billing
  • Salesforce Billing is a Salesforce CPQ CRM add-on package that configures client data to be automatically retrieved for billing and payment once a salesperson completes a quote and places an order.
  • Using this feature, you can automate customer payments, record all transactions in accounting, and generate revenue reports.

Benefits of Salesforce CPQ

The sales team can prevent unintentionally entering unauthorized rates and offering items that are no longer available using Salesforce CPQ.

With Salesforce CPQ, the sales team can efficiently collect and analyze data and predict trends.

By offering new revenue models, such as subscriptions, users can be more flexible with their client base and adapt to all industry models.

Simplify sales order acceptance and display all quotation data in real-time to help the front and back-office personnel collaborate. These can help break down silos and make your firm more collaborative.

Allows automation of the configuration, pricing, and quote creation processes

Through the application of intelligent rules and filters, Salesforce CPQ automatically ensures that the products you select for a quote are related and tailored to your customer’s needs. Once products and prices have been defined, with a few clicks, you can generate a PDF with all the quote details.

Generate contracts and close sales more efficiently

A quote constitutes a final document, a contract the client will sign if he agrees. Thanks to the quote templates, you can design the format and define different sections you can reuse in other contracts, such as the header, the terms and conditions, and the signature section. You can even integrate an electronic signature that, by your company, validates the content of the contract in advance.

CPQ Improves Efficiency

CPQ enables faster quote delivery. By improving efficiency in sales operations and reducing time spent on administrative tasks and quoting, sales teams are free to focus on customers.

CPQ in Salesforce eliminates inefficiency in the entire quote process by automating product catalog searches, pricing decisions, and discounting rules. It also streamlines the paperwork required to close a deal, including document generation, customization, and ordering forms.

Out Perform for CPQ Users and Non-CPQ Users

Automatic management of subscription renewals

At the close of each sale, an administrator can define rules with Salesforce CPQ to track products included in the contract that is subject to the duration of a subscription. This automatically guarantees that customers receive a contract renewal before the end of the subscription.

Increased productivity of sales rep

With the automation of the quotation process provided by CPQ, the time spent by sales reps in creating contracts is reduced. This allows them to focus more on attracting potential customers.