What is CPQ?
If you sell B2B and have complex rules around pricing, discounts and product options or bundles, then you likely have considered a better way to build quotations for customers.
The Quote to Cash process for many businesses can be a struggle.
Ask yourself if your business currently:
- Assembles quotes using word documents
- Holds knowledge on pricing, discounts, and profitability in spreadsheets
- Knowledge about products and pricing sits in accounting or marketing
- Requires approvals and struggles with email approvals
- Lacks consistently branded quotations for customers
- Would benefit from electronic approvals and signature
Configure, Price, Quote (CPQ) is one way to improve the creation of great looking, consistent quotes that capture accurate pricing and discounts.
Salesforce CPQ is a way that sales teams can create customer quotations from Opportunities. It allows product marketing and finance to capture the profitability and product bundle rules that they create in a useable way.
Salesforce's acquisition of Steelbrick was a $360 Million investment in an established Salesforce based technology solution. Now companies in Manufacturing, Life Sciences, and Software industries look to Salesforce CPQ to allow sales reps the ability to assemble pricing and quotes that result in profitable customer closes.
Some features of Salesforce CPQ include:
- Launch products with one-time, subscription or usage-based pricing
- Create Quotes from Opportunities
- Setup multiple Quotation templates
- Add rules around products, bundles and discounts
- Multiple pricebook models including volume, account tier, bundle discount rules
- Internal pricing approvals processes across departments
- Send digital PDF based quotes to customers
- Integrate with DocuSign, Adobe Sign, or HelloSign
- Automate complex billing requirements and electronic payments