The two goals of any sales organization are increasing sales and improving operational efficiency. Salesforce CPQ (Configure, Price, Quote) is a valuable tool for achieving both goals. By streamlining sales quote management, teams become more efficient, and can spend more time on their core objective, working to close deals.
CPQ has many features and benefits, but a few are some of the more important Salesforce CPQ features:
By leveraging Salesforce CPQ product “bundle” configurations, sales reps can quickly and accurately generate quotes. After selecting a parent product on a quote, the rep is guided through selecting options for that product. Instead of choosing additional products from price books, they are visually guided to select the appropriate options.
Options can be displayed or hidden based on previously selected options, and validation rules can warn sales reps of incorrect selections, or not allow selections at all. There are a multitude of ways configuration options can be presented to sales reps.
Managing quote and product discounting can be applied in multiple ways. Sales people can apply discounts at their discretion (with applicable approval processes) to products, options, and at the quote level. Discounts can be predefined and applied automatically for any use case needed:
- Volume and term discount schedules
- Promotional time limited discounts
- Partner and/or Distributor discounts
- Account specific discounts
- Account specific Contracted (time based) discounts
Subscription Contracting and Renewal Management
If your organization sells term-based products or services, core CPQ functionality includes the ability to automatically create subscription contracts when an Opportunity is won. Additionally, renewal Opportunities and Quotes can be automatically generated in a time frame that fits your needs. Renewal uplifts can be automatically applied. Replacement products can be defined to ensure obsolete products don’t sneak into renewal opportunities.
Salesforce CPQ offers much more functionality than just the important CPQ features covered in this post. And the ability to leverage these features is only touched upon in this article. To find out how Salesforce CPQ can specifically benefit your organization, contact StarrData.