Are you ready to discover how Salesforce CPQ helps your sales team to create sales quotes faster than ever? I think you are at the right place to upgrade your Salesforce skill sets with this Salesforce CPQ tutorial. As we already know that salesforce has been growing tremendously in the current tech market and also it establishes the connection between the company, employees, and customers. Salesforce CPQ tool developed to overcome the hurdles of sales and marketing. As per the research almost 66% of people spend most of their time generating business quotes, writing reports, and proposals and there is a huge chance of getting inaccurate data as an output. So let's get started our journey with the Salesforce CPQ tutorial.
Salesforce CPQ stands for Configure, Quotes, and pricing of your business data. The Salesforce CPQ is just an extension of customer relationship management (CRM). This tool makes the sales process/ billing easier, faster, and more organized. The main purpose of Salesforce CPQ converts the sales cycle spreadsheet into an automated sales tool to deliver an error-free and accurate quote. Salesforce CPQ has come up with many advanced feathers and applications that help users to sell the correct product, discount control, and also automates the approvals. Salesforce CPQ is just a part of the Salesforce software system and founded in the year 2009. Salesforce CPQ pulls the inappropriate sales data into the configured mode to process and ensure consistency.
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As I said earlier Salesforce CPQ has developed to overcome the sales hurdles with respect to billing, quoting, and approval. Very importantly, business enterprises should wait until they get final approval and aren't able to take up the next business deal. So Salesforce CPQ is helping most of the business enterprises to overcome this problem.
Let me discuss the key features of Salesforce CPQ:
Other added features:
The following diagram explains how Salesforce CPQ works,
Salesforce CPQ model consists of relational junctions that enable businesses to integrate their business data in the Salesforce model. These junctions provide better communications and also effective data transformations between the multiple data sources. Adjacent enterprise systems like databases (SQL or RDBMS), ERP/CRM systems, and custom software applications. The basic functions such as from loading the business data to real-time data integration, these relational junctions simply modify the business process by creating customized data and continuously synchronizing the business data. This Salesforce CPQ model also supports hub-centric integration for better data flow. Also provides standard-based SQL interfaces to work with any complex level integration levels.
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Salesforce CPQ product configuration features:
Salesforce CPQ configuration describes how product bundles help sales representatives in the sales force. This also explains the difference between a bundle components, configurable bundles, and also explains how to add a configuration to the sales quotes. A bundle is simply a group of product that will be used by the time generating sale quote. When the sales representatives choose to sell the bundle, all the related products come along for the ride. In this tutorial I am going to explain the configuration methods, this bundle can be customized according to your requirements, with adding some bundle component limits to prevent it from impossible salesforce configurations.
It's like a create your own customized burrito. You can create your burrito with the help of the right amount of business data and integrate them for further configuration.
Salesforce CPQ pricing features and methods:
The following diagram explains the Salesforce CPQ pricing features and methods:
The list price is the quote line's initial price. When you quote a product, salesforce CPQ pulls the quote's lines list price from products list price entry in your book. If you select a product’s or quote lines price editable field, you can override the list price in the quote lines editor. The pricing method field in the product record is set to list by default, but you change the pricing method to cost or block pricing.
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Some of the pricing methods are as follows:
List price -> The product’s list price in the price book
Contracted price -> Inherits the value of the contracted price records.
Special price -> Inherits the value of the contracted price or special price assumes the value of the list price.
Prorated price -> this add the Price for Salesforce CPQ products applies the special price
Discount for products -> Salesforce CPQ apply the appropriate discount to the prorated price. The resulting value becomes the regular price.
Regular price -> the regular price inherits the value of the prorated price.
Additional discount -> Entered by the sales rep or through pricing guidance.
Salesforce CPQ quote features:
Salesforce CPQ quote is really a presentation layer of opportunities and opportunity products. Here you can create a PDF to represent the quotes. And there is a page layout available in the form of a template that will cover under some segments to know how you can manage the information to present back to your client.
You can then create the PDF to save it as an attachment file against the quote. You can email this attachment document to your contact straight from the quote. It auto-generates a number every time you create a quote. When you create a Quote it's a record in the database. You have a Quote name. Free from the text, kind of like an opportunity name.
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Some of the important features of Quotes are;
Salesforce CPQ productivity features:
Salesforce CPQ offers excited productivity features to produce a valuable result. Let me explain a few points:
Salesforce CPQ process flow covers the full end-to-end sales activities of the business organizations. This process flow mainly consists of sales details, account management data, customer order fulfillment, order billing, and account section functionalities.
This figure explains the functionality of Salesforce CPQ process flow,
Salesforce QTC is nothing but a Quote-to-cash process. This process covers the end-to-end cash details for sales activities in an organization.
Steps included are:
Salesforce CPQ is one of the flexible and easy to use software tools. This tool is widely used by the business organizations to improve their sales activities. Most of the companies still have doubts about how to build their data process flow method and pricing details between the ERP system and Salesforce.com.
Methods included in this integration process are;
Salesforce CPQ is software that brings all the product pricing and customer data in the form of a centralized accessible platform that runs in a real-time environment.
There are 3 basic tools of Salesforce CPQ software:
Features of configurator:
Features of pricing:
Pricing can be divided into 2 types:
1) Cost-plus based pricing -> this pricing type supports the product cost or price.
2) Contracted pricing option -> this supports account-based contracts.
Features of quoting:
As I said earlier Salesforce CPQ system tools help to improve the sales performance, reduces errors, scalability, and produce accurate data.
1. Buy the CPQ software tool.
2. The sales team will help you to select the product structure.
3. The orders and invoice management will be defined with product structure.
4. Once the implementation is completed, they go live.
5. The sales team helps the customers make use of the tool and enrich the selling process and win deals in a shorter time.
Salesforce CPQ API model:
The attributes used in Salesforce CPQ API models are;
The following are the important procedures to set up your Salesforce CPQ software in your organization:
Make sure that the org chart diagram flows; so that each individual person agrees on how a cash quote moves from one approval level to another and quote attributes move into each decision tree.
Design the company logo that you want to show in your quote document and add it to a folder in the salesforce document.
You can also create volume discounts based on the quantity of the product when you add these products to your salesforce quotes; CPQ applies a proportional discount to the grand total.
Determine the best plan for your non-English speaking users. You can also install Salesforce CPQ in a multilingual instance.
Basic page layout setup.
Product and price list.
Quote template and quote status.
The following are the key benefits that CPQ brings to the sales team:
In this Salesforce CPQ tutorial blog, you might have learned the benefits and the features of Salesforce CPQ. Salesforce CPQ software tool most often used by the sales team in the organizations to reduce errors and produce accurate sales reports. Most of the CRM based companies have been started adopting Salesforce CPQ to overcome the sales hurdles. I hope this article may help a few of Salesforce developers as well as Salesforce community forums.
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5th April | 08:00 AM