Categories: BusinessTech

What is CPQ in Salesforce? Benefits of Using CPQ in Salesforce

Are you too tired of losing out on good deals because you were too occupied trying to create quotes and reports for previous ones? Are the monotonous, mundane tasks holding you back from actually doing what requires your expertise? Well, then your organization needs to adopt Salesforce CPQ and you need to learn Salesforce CPQ.

This blog gives an insight into ‘what is CPQ in Salesforce’, along with the benefits of using CPQ in Salesforce. Read on to better how earning a Salesforce CPQ certification can enhance your future and make you a leading figure in taking your organization towards success.

Salesforce CPQ: The Basics

Salesforce CPQ has been around for over a decade but has recently gained the status it truly deserves. As business models become more complex, better tools need to be adopted and that has led to the rise of this tool.

Simply put, CPQ is built on the Salesforce platform and is a leading sales tool today. It facilitates sales representatives in generating customized quotes in just a few clicks.

What is CPQ in Salesforce?

CPQ in Salesforce refers to any configure, price, quote software tool that facilitates sales teams in creating quotes with personalized pricing configurations. These are based on the buyer’s demands and preferences. All of this happens within the Salesforce CRM.

CPQ is the abbreviation for Configure, Price, Quote – which aptly refers to steps of the process.

  • C = Configure

Configuring products to ensure they meet the requirements of the customer.

  • P = Price

Making adjustments to the price depending upon the configurations made to the product previously.

  • Q =  Quote

Generating a personalized sales quote for every customer, every time.

Benefits of Using CPQ in Salesforce

There are plenty of benefits of using CPQ in Salesforce. To understand how to extract them every single time, it is best to take the aid of a Salesforce CPQ training program. This will help you learn more about this sales tool by learning from those who have prior knowledge of utilizing it.

  • CPQ Induces Trust with Buyers

Employing CPQ in Salesforce gives sales reps the additional advantage of access to buyer information. Hence, they are able to better judge which product should be offered to which customer and what price would be best fit for it. This further removes any roadblocks.

Buyers always appreciate a customer-centric approach employed by sales teams when building product configurations.

  • CPQ Enhances Efficiency

With CPQ in Salesforce, organizations enjoy faster quote delivery, which reduces the time spent by sales teams on administrative tasks and quote generation. Hence, teams are able to divert their focus on customers, enhancing the efficiency.

Any inefficiency in the quote process is eliminated as pricing decisions, discounting rules, and product catalog searches are automated. This leaves the sales reps to focus on tasks that require more of their attention.

  • CPQ Helps Retain Existing Customers & Prospects

Existing customers have already put their faith in you once and thus, it is easier to sell to them. Sales reps use CPQ in Salesforce to ensure that the pricing is accurate, and if cross-selling and up-selling is an option for the given set of customers. Hence, helping the sales teams in making the most of the existing prospects and customers.

  • CPQ Produces Accurate Quotes

CPQ in Salesforce automates the process of product configuration, pricing adjustment, and quote generation. Hence, sales reps no longer have to rely on price books and product lists, as everything needed to create accurate quotes is in-built in this tool.

A few questions must be answered for the backend systems to accomplish various tasks, such as documentation generation, product validation, product selection, etc.

  • CPQ Increases Revenue

By using CPQ in Salesforce, organizations benefit with accurate quotes, complete visibility, building trust, and increasing efficiency. When all of this is put together, businesses thrive as the revenue increases and the errors are reduced. As administrative burden is eliminated with this sales tool, more accurate quotes and pricing is produced.

Conclusion

Now that you know ‘what is CPQ in Salesforce’ and what are the benefits of CPQ in Salesforce, we are certain you have clear reasons to begin your journey. Choosing an apt Salesforce CPQ course or Salesforce CPQ tutorial will lead you completely understanding this sales tools.Watch Video To Learn More- https://www.youtube.com/watch?v=RQeQEKkH-w4

Ethan

Ethan is the founder, owner, and CEO of EntrepreneursBreak, a leading online resource for entrepreneurs and small business owners. With over a decade of experience in business and entrepreneurship, Ethan is passionate about helping others achieve their goals and reach their full potential.

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