what is salesforce CPQ
Salesforce CPQ is a software that Force.com has introduced as a sales tool for companies to provide accurate pricing for any product configuration scenario. This also allows sales staff to quote the prices of the goods in a timely and reliable manner. Allows flexibility, discounts, quantity and other optional features of the product during the selling cycle. It's easy to use on any platform and will be available 24/7 as a Cloud Service Platform hosted by Sales Cloud Platform that gives you direct access to your CRM & decision making for impactful sales.
Moreover, there is a great demand for the Salesforce CPQ professionals in the market and certification in salesforce CPQ certification course will definitely take up your career growth.
Features of salesforce:
- CPQ helps you to build product packages with features and options. The features are defined as the categories for the kit, and the choices are defined as the components.
- Products are rendered as an integral part of the kit, and accessories or similar items also help up-selling and cross-selling scenarios.
- Supports guidelines for exclusion and inclusion which are restrictions on choices.
- CPQ also allows the covering of components or the dynamic inclusion of components for the kit that is being designed.
- The measurement of the margin for the end consumer is also seen in the discounting / price process.
- Price + Markup pricing-In addition to market support for commodity prices.
- Block Pricing-Eg:, if the price of 1-25 products is USD 50 and the price of 25-50 products is USD 100, there will be an option for Tier based discounting. (1-25 goods with 5 per cent discount and 25-50 items with 10 per cent discount)
- Real-time market analysis to set the quality of the solution packages.
- Generation of an integrated quotation text.
- Method for incorporating E-Signature devices.
- Customization of quotation templates for specific parts to be designed, i.e. header, quotation line, footer and quotation words.
- It offers flexibility in the product search process.
- Capacity for scripting questions & direct sales users and consumers to the best possible product match. Provides incentives for the renewal of automatic production, which leads the sales team to prompt follow-up on the reliable pipeline forecast.
- Availability of the drug in the lightning encounter.
- The use of Salesforce1 mobile apps.
- Supports partners and customers in enabling access to CPQ functionality.
How canCPQ increase the bottom line?
Although several businesses do not yet have CPQ tools, those that do are seeing remarkable positive results in terms of time, deal size, quote accuracy, and sales processes.
For order to make sales companies competitive, they need to operate harder and more effectively. A way to do so will be to look at lean manufacturing concepts, such as reducing waste in the production cycle and applying it to sales strategies.
Use CPQ as a Subject Matter Expert recognizes specializations, add-ons, and choices to determine the size of the contract.
Spending time back and forth on specifications and quotations, when information is lacking, wastes both the time of the salesperson and the customer, thereby reducing trust in the product. As Pryor states, excessive waiting time is an obstacle to lean sales. Plan. Plan. When the sales force has to study and write each quote manually, they waste their time in vain.
Adding CPQ to the current CRM results in more profitability-both increased sales and improved performance.
Conclusion:
In order to ensure the smooth implementation of Salesforce CPQ, IT and small and medium-sized companies will monitor the installation of the rules and configuration choices. When introduced, CPQ will be incorporated with a lot of preparation and support for sales workers who will know how to use CPQ for up-selling and cross-selling. Correctly implemented, CPQ will help sales save time, increase quote accuracy, and land larger deals.
CPQ is not just a sales solution, and CPQ is not a back office solution, but a means for the entire company to streamline bulky sales processes into lean, productive systems. Adding Salesforce CPQ to existing Salesforce services defines sales as a process and helps teams focus on maximizing time and resources, making sales processes efficient and lean.