Salesforce CPQ

Salesforce CPQ

CPQ stands for Configure, Price, and Quote is a sales tool that gives accurate pricing with any configuration scenario allowing the sales team to quote prices quickly and effectively. CPQ salesforce is hosted within the sales cloud. Sales reps can quickly optimise and generate quick quotes based on customers’ requirements. Today more and more organisations are getting to know the true value of CPQ in their sales operations.

To overcome the manual tasks used by sales teams like filling large spreadsheets which makes them waste hours and decreases productivity, CPQ as a tool allows sales teams to complete highly complex sales transactions by giving full access to data making it possible to complete complex tasks. 

Some benefits of Salesforce CPQ are:

Time Saver: The time gap where a client needs to close the deal and the team needs to quote a price gets saved as CPQ updates the data immediately. This saves a lot of time and creates a good impact on the client. 

– Eliminates human error: With the great precision of CPQ, it ensures there are no human errors. With this great user experience even the customer retention rate increases. 

– Customization: Every client has some unique requirements and tailor them according to their needs is handled by CPQ customization. It also provides a great analysis of clients and their requirements. 

– Revenue generation: According to many types of research that have been done which proves how CPQ actually increases revenue and client satisfaction. 

– Great customer experience

– Automated Sales quoting

As salesforce CPQ is integrated with your CRM so the information can be accessed on your mobile devices as well.
Now an organisation with a traditional sales structure has an outside sales team for requirement collection, an inside sales team for information collection, and an engineering team to configure the product. The entire process is chaotic and involves a lot of back and forth movements which are not effective in generating an accurate quote.

Here CPQ eliminates all of these and works through the entire process.

C (Configure)

When an outside team gathers the requirement they can quickly update that information on CPQ allowing the inside team to work immediately on it. Now that the time factor is eliminated, the engineering team gets to the product creation and the chances of errors are also reduced.

P (Price)

The discount logic in CPQ, allows sales reps to make use of different discounts based on volume, distributor, discretionary, etc.
All the facilities right from updating discount duration, discount dates, expiration date are provided in CPQ and with a single button click one can send it to the approval team.

Q (Quote)

Before the final quote is generated, the customer is allowed to give its input if any term changes are required. If so, then the customer can add the comment and it is sent to the internal team, once both the parties are on the same page a quote is generated and sent for electronic signature.

Conclusion

Ensuring a smooth deployment of Salesforce CPQ should be the key aim and then comes the proper training of the sales team and support team on it. If implemented properly CPQ can be a boon for the sales team and overall revenue generation of the organisation.

Summary
Article Name
Salesforce CPQ
Description
Configure, Price, and Quote (CPQ) is a sales tool that provides precise pricing for any configuration scenario, allowing salespeople to quote rates quickly and efficiently. Take a look at the SALESFORCE CPQ.
Author
Publisher Name
BugendaiTech Pvt Ltd
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