26, Mar, 2024 | By Techuser

What is salesforce CPQ

Salesforce CPQ, previously known as Steelbrick, is a Configure, Price, Quote (CPQ) software that allows the creation of  quotes  based on client requirements.

CPQ stands for configure, price, quote.

C Is for Configure: What products does the customer want to buy (configure)

P Is for Price: How much do those products cost (price)

Q Is for Quote: How can we give the customer details about the Sale (quote)?

It is a tool used for sales optimization while configuring complex products and creating quotes for customers.Sales teams need to manage the prices of the products rapidly according to the business requirements.CPQ expands Salesforce’s capabilities beyond standard objects like Product, Pricebook, and Opportunity. Salesforce CPQ is a software solution that helps businesses automate and streamline their quoting and sales processes.It enables sales teams to quickly and accurately generate quotes, proposals, and contracts for customers.

Salesforce CPQ simplifies the pricing process by incorporating pricing rules and logic, discounts, and promotions.Sales reps can configure product bundles and options, and the software automatically calculates the total price based on the customer’s selections.

It also considers any applicable discounts and special offers, ensuring that the customer receives the best possible pricing.Automating order generation with Salesforce CPQ increases productivity and accuracy.It brings so much more functionality and flexibility to your sales team, no matter how complex the process is,With quick quotes, sales representatives can configure goods, set pricing, and issue invoices in just a few moments  saving time on important tasks.

The Quote (Product & Pricing Details) document once generated can be sent to customers through an email in a single click along with E-Signature. The generated quote document can be saved as an attachment either in the Quote or under its corresponding Opportunity. We should create Quotes under Opportunities. Once the quote is created, it will allow you to select the Products. Once the number of products are selected, the total amount is calculated automatically along with discounts if specified. These products are saved as Quote Line Items. The primary quote’s quote line items are automatically created as Opportunity Products (Opportunity Line Item) and the quote’s total amount is updated in the respective opportunity. Any updates or changes made in the primary quote is reflected in the corresponding opportunity and opportunity products. Once the quote is created, we can send it to the customer along with E-Signature using DocuSign.

When an opportunity is won, contracts are created automatically and any subscription & assets associated with the products are added to the contract.

Conclusion

Salesforce CPQ automates sales processes, enhancing productivity and revenue within Salesforce by optimizing product configuration, pricing, and quotes generation, enabling sales teams to focus on customer relationships and closing deals effectively.