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What Is CPQ In Salesforce | A Free Salesforce Tutorial

Last updated on 10th Aug 2022, Blog, Tutorials

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Rajesh Patil (Network administrator )

Rajesh Patil is working with technology for managing all your company's relationships and interactions with customers and potential customers, with 8+ years of experience in Zuora CPQ, Sandbox org, Tableau CRM, Marketo, and CPQ API.

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This Salesforce CPQ tutorial may be a complete guide to Salesforce CRM and connected topics like its options, pricing, and benefits:

One of the first reasons to use Salesforce, the world’s #1 CRM, is the quicker closing of the deals. Salesforce CPQ (Configure, Price, and Quote) may be a native app that helps the users within the closure of deals–even quicker.

In this tutorial, we’ll wear down Salesforce CPQ and supply insights on however it works. We’ll conjointly give some commonplace options and therefore the advanced options of CPQ and the way that helps your business to succeed on a subsequent level.

Tutorial on Salesforce CPQ

Finally, we’ll throw light on why your business has to select Salesforce CPQ and therefore the edges. First, allow us to outline “What is Salesforce CPQ?”.

What you’ll Learn:

  • What Is Salesforce CPQ
  • How will Salesforce CPQ Work
  • Features Of Salesforce CPQ
  • Advanced options Of Salesforce CPQ
  • Why CPQ?
  • Benefits Of CPQ
  • Conclusion
  • Recommended Reading

What Is Salesforce CPQ

Salesforce CPQ allows your sales team to make quotes quickly and with token errors and efforts. The method starts with making a chance by your sales team and after delivering the quote–within a brief time. This way the method becomes quicker and controlled with a speedier closure of errors in addition like fewer errors. It conjointly helps a lot of|in addition} correct information and more deals moving through the sales pipeline.

It transforms your business model with a novel quote-to-cash resolution, which helps to make revenue ranging from single sales.

Here is a picture on the Salesforce CPQ Dashboards:

CPQ Dashboards

How will Salesforce CPQ Work

Salesforce CPQ works within the following way:

Configure complicated Deals

Manage continual Revenue

Unify Sales and Revenue

1) tack together complicated Deals

It helps to accelerate the channel partner sales with the assistance of a scalable method.

It is comprehensive of:

  • Use easy-to-navigate complicated product catalogs for remodeling reps and partners into advisors.
  • Streamline the quoting approvals, making certain compliance with product rules.
  • Use pre-configured or bespoken bundles to make custom solutions.

2) Manage continual Revenue

Enables you to align your quotes as per client wants with subscriptions and therefore the choices of usage asking within the following ways:

Automate contract amendments, usage evaluation, and renewals for scalable growth.

Offer centralized visibility of subscriptions and entitlements.

Streamline the upselling and cross-selling with value upliftment.

Create machine-driven renewal opportunities for reducing the attrition.

3) Unify Sales and Revenue

Breakdown the back-office siloes for streamlining the quote-to-cash method with;

Streamline the acceptance of sales orders and omit the quote details.

Consolidate billable charges into one invoice per client.

Spread the transactions associated with revenue over the money periods and facilitate the revenue.

Features Of Salesforce CPQ

Features Of SalesForce CPQ

Generate revenue quicker by quickly closing the deals with the subsequent options of CPQ:

  • Configure complicated deals simply and quicker
  • Grow and nurture the client base
  • Reduce compliance burden and money risks
  • Automate client life cycle
  • Provide insights

The above-enlisted options area unit explained within the following section.

1) tack together complicated deals simply and quicker

Use the bit-by-bit configuration wizard to modify the sales reps to pick the proper merchandise and services. Create branded quotes accurately with a mere click for concealment and revealing quote lines and discounts.

Streamline complicated sales cycles with rules and pre-configured solutions.Use pre-defined evaluation and discount steerage for various deal situations of complicated quotes.

2) Grow and nurture the client base

Get the value from associate degree earlier quote or outline negotiated costs by streamlining repeat business.

Streamline the method for add-ons or upgrades for easier upselling and cross-selling.

Offer complete visibility into the customer’s purchased assets and subscriptions in an exceedingly single place for the management of service agents.

Generate renewal quotes proactively and thereby scale back churns by causing them to shoppers.

Here may be a figure that explains the above:

Grow and Nurture Customer Base

3) scale back compliance burden and money risks

Ensure that the sales reps use machine-driven tips and dependencies for reps to quote complete, compliant solutions.

Create machine-driven cross-functional approvals for alignment with policies, while not retarding the sales cycle.

Use one unified evaluation engine for ending the discrepancies of value associated with orders, invoices, and quotes.

Here may be a figure that explains the above:

Reduce money Risks

4) automatize client lifecycle

Split quotes into multiple orders supported time/location for machine-driven complicated orders. Automate sometimes invoicing, invoice consolidations, continual or usage-based fees for on-time money collections.

Offer simplified ERP integrations with precise client information and revenue schedules. Streamline electronic payments for reducing manual time intervals.

Here may be a figure that explains the above:

5) give Insights

Analyze discounting trends cutting across geographies, sales groups, and merchandise with the assistance of AI. Use period KPIs of the likes of MRR, churn that manages the continual growth of revenue.

Bring about associate degree accelerated sales cycle growth by eradicating the bottlenecks of your quoting method.

Here may be a figure that explains the above:

Advanced options Of Salesforce CPQ

Perceive Product and value Rules

Salesforce CPQ allows your sales team to make quotes quickly and with stripped-down errors and efforts. The method starts with making a chance by your sales team and later redeeming the quote–within a brief time. This way the method becomes quicker and controlled with a speedier closure of errors also like fewer errors. It conjointly helps a lot of|in addition} correct knowledge and more deals moving through the sales pipeline.

It transforms your business model with a novel quote-to-cash resolution, which helps to make revenue ranging from single sales.

How will Salesforce CPQ Work

Salesforce CPQ works within the following way:

  • Configure complicated Deals
  • Manage continual Revenue
  • Unify Sales and Revenue

1) piece complicated Deals

It helps to accelerate the channel partner sales with the assistance of an ascendible method.

It is inclusive of:

  • Use easy-to-navigate complicated product catalogs for reworking reps and partners into advisors.
  • Streamline the quoting approvals, making certain compliance with product rules.
  • Use pre-configured or tailored bundles to make custom solutions.

2) Manage continual Revenue

Enables you to align your quotes as per client desires with subscriptions and therefore the choices of usage request within the following ways:

  • Automate contract amendments, usage valuation, and renewals for ascendible growth.
  • Offer centralized visibility of subscriptions and entitlements.
  • Streamline the upselling and cross-selling with value upliftment.
  • Create machine-controlled renewal opportunities for reducing the attrition.

3) Unify Sales and Revenue

Breakdown the back-office siloes for streamlining the quote-to-cash method with;

  • Streamline the acceptance of sales orders and omit the quote details.
  • Consolidate billable charges into one invoice per client.
  • Spread the transactions associated with revenue over the money periods and facilitate the revenue.

Let us currently highlight some options of Salesforce CPQ.

Product Rule 1

It reduces your worries regarding the appropriateness of a particular SKU for your business size or use case, also because of the compatibility of merchandise with use cases. it’s regarding delivering high-level client expectations for his or her shopping for expertise.

Product rules permit you to understand the transformation of the thanks to head to market–starting right from the packaging of merchandise and costs, inventing SKUs up to however the reps sell.

The product rules sorts, once employed in combination, enhances the accuracy of quotes and will increase the merchandising expertise.

Here area unit the kinds of product rules:

  • Validation Rules
  • Selection Rules
  • Filter Rules
  • Alert Rules
  • Price Rules

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