Salesforce CPQ: Sales team’s best tool for Quote Accuracy and Time Savings

Salesforce CPQ: Sales team’s best tool for Quote Accuracy and Time Savings

Have you ever been in a situation where you were almost all set to close the deal with your potential client but got stuck with the complexities of pricing structures, discounts, and product configurations? By the time you untangled yourself, the client was all gone.

It’s such a nightmare, isn’t it?

The sales department is something to not mess around with; for them, their clients and closing deals are everything.

This is why every sales team must leverage the potential of Salesforce CPQ to maintain accurate pricing structure and quote generation, helping in closing deals faster.

But if you don’t know what Salesforce CPQ is or why you should choose it, don’t worry; we are here to explain.

What is Salesforce CPQ?

Salesforce CPQ is a Salesforce app that helps sales teams close complex deals faster. CPQ here stands for Configure, Price, and Quotes, wherein:

  • Configuration:
    Let you know which products and services the client has shown interest in.
  • Price:
    It calculates and determines the prices of configured products, considering various factors.
  • Quotes:
    Once the products are configured and prices are determined, Salesforce CPQ generates professional sales quotes.

Let’s move on to the features that make Salesforce CPQ unique and a powerful tool.

Features that make Salesforce CPQ unique for the sales team

CPQ offers features that are specifically designed to help transform the approach of sales teams to streamline their sales process, improve accuracy, and enhance customer relationships.

Product Configuration: 

It enables users to configure sophisticated products or services as per customers’ needs and preferences. Thus, it is easier to manage product variations and options to create accurate configurations.

Price Management:

It can make dynamic pricing adjustments based on factors like quantity, discounts, promotions, and prices. It also helps in creating and managing price rules, which then provide a consistent and accurate pricing structure.

Quoting and Proposal Generation: 

It automatically creates personalized quotes and proposals, customizing them to fit customer preferences, configurations, and pricing rules. Salesforce CPQ also helps in generating professional-looking quotations with your brand elements for a better and professional-looking presentation.

Why should you choose Salesforce CPQ?

Salesforce CPQ is quick and precise to generate sales quotes, thus encouraging more deals through the sales pipeline, which eventually helps in building stronger relationships with your clients.

  • CPQ acting as SME:

CPQ serves as a cost-effective Subject Matter Expert (SME) by identifying specializations, add-ons, and options. It prepares sales teams to ask the right questions and offer expert insights, leading to more informed and better deals.

  • Speeds up the sales process:

In today’s selling environment, it is imperative to close the deal faster. CPQ helps prevent issues like budget changes, organizational shifts, or altered requirements from causing delays, thus streamlining the entire sales process, saving time, and ensuring deals move smoothly through the pipeline.

  • Add CPQ to CRM to increase profitability.

Firms that use CPQ alongside CRM experience better revenue growth. CPQ addresses specific issues by streamlining sales processes and customizing the entire workflow based on customer preferences, which can be extracted from the CRM data. This contributes to the overall profitability of the business.

  • CPQ saves time: 

Clear communication from the beginning helps sales teams avoid wasting time on the wrong products. Classifying customers’ requirements in every interaction and adopting lean management to use technology like Salesforce CPQ enables teams to strategize their approach, drive revenue growth, and gain trust from customers.

  • CPQ Keeps Getting Better:

As per the Winter ‘24 release, Only standard quotes are now supported by Salesforce CPQ, and CKEditor has been replaced by the rich text editor Lightning Web Component.
Also, Salesforce Billing now offers a standardized third-party tax calculation procedure with debit notes.

So, to make Salesforce CPQ work effectively, the firms should set the rules and options for customization. Once you have implemented it, properly train and support your sales team, as they will be using the CPQ for upselling and cross-selling.

When done right, it is one of the best tools for your sales team that can transform the whole sales process by improving quote accuracy and saving time, thus leading to closing bigger deals successfully.

Wrap up:

So, if you’re a new or existing user of Salesforce CPQ and are willing to expand your business and grow your revenue by closing deals faster without losing your potential clients, then Outsource Salesforce is the right bet for you.

Outsource Salesforce is a salesforce consultant in the UK with years of experience helping businesses grow.

Schedule a free call now to talk to our expert to learn more about Salesforce and its related products and services.