Salesforce CPQ Cloud
CPQ Salesforce, or Configure, Price, Quote Software by Salesforce is a sales tool for companies to provide accurate pricing with any given product configuration scenario. CPQ applications take into account optional features, customizations, quantities, and discounts, allowing sales reps to quote prices quickly and accurately. Salesforce CPQ gives your sales team easy to use software, available on any device due to it’s cloud based platform. Hosted within the Sales Cloud platform giving you a direct link with your CRM to make the most impactful sales decisions.
Benefits of using a CPQ tool in Salesforce
1. CPQ Produces Accurate Quotes
CPQ in Salesforce automates the product configuration, pricing, and quote generation process. Instead of relying on product lists and price books, sales people have everything they need to create accurate quotes built into the tool. Discounts and approval rules programmed into the CPQ software place guardrails around deals, so rogue discounting is a thing of the past.
Next-generation CPQ solutions make quote accuracy possible through guided selling playbooks. This advanced technology uses a series of dropdown menus to guide sales reps through the product selection process.
By answering a series of simple questions about opportunities from a dropdown menu, backend systems can accomplish a number of tasks like product selection, documentation generation, pricing/discounting parameters, and product validation.
The result is the automatic generation of 100% accurate price quotes that reflect current sales strategies.
2. CPQ Improves Efficiency
CPQ enables faster quote delivery. By improving efficiency in sales operations and reducing time spent on administrative tasks and quoting, sales teams are free to focus on customers.
CPQ in Salesforce eliminates inefficiency in the entire quote process by automating product catalog searches, pricing decisions, and discounting rules. It also streamlines the paperwork required to close a deal including document generation, customization, and ordering forms.
The result is that sales reps do not need to do things like search through product catalogs, email chains, or create their own proposal documents. They are free to spend their time selling products, instead of doing administrative tasks. In addition, streamlining the sales process speeds up the sales cycle and helps salespeople close deals faster.
This is important because research shows that responding quickly to sales inquiries is one of the most important factors in closing a deal. It’s estimated that the first sales rep to respond to a prospect turns that into a closed/won opportunity 50% of the time.
3. CPQ Builds Trust with Buyers
Using a CPQ inside Salesforce provides sales professionals ready access to buyer information while working through the sales process from opportunity to close.
Offering the right product and the right price keeps deals on track and avoids roadblocks in the contract approval process so buyers never feel a sales rep is not being responsive.
Buyers appreciate the customer-centric approach to building product configurations and receiving sales quotes based on their needs.
4. CPQ Maximizes the Benefit of Existing Prospects and Customers
It’s easier to sell to existing prospects and customers than to find new ones. The same playbooks that ensure pricing accuracy also suggest up-selling and cross-selling opportunities that are in line with margin considerations, to sales representatives. Sales reps can make sure they take advantage of all the opportunities afforded to them by each prospect and customer in their sales pipeline.
5. CPQ Increases Revenue
Using a CPQ tool in Salesforce allows for accurate quotes, increased efficiency, complete visibility on the purchasing process, and building trust with buyers. The result of all of these things put together is increased deal size and revenue growth.
CPQ lets you eliminate the administrative burden while producing more accurate pricing and quotes and providing a better experience for buyers even while up-selling and cross-selling them.
Explore More
