What impression do your customers have when purchasing from your company? Their initial experience sets high expectations. Customers want good service instantly and don’t want to navigate your sales process on their own trying to get a quote.
With intricate product configurations and dependencies, your team must act quickly and accurately to clarify pricing for customers. Therefore, your solution to the problem should:
- Facilitate error-free quotes
- Simplify the sales quotes configuration process for sales reps
- Generate cross-selling and up-selling options
This is exactly what Configure Price Quote (CPQ) software is for.
CPQ (Configure, Price, Quote) is a tool that streamlines the quoting process for sales reps, enabling buyers to customize products to their needs. It allows sales teams to create, manage, and track quotes within Salesforce. Product rules in CPQ define how products interact, dynamically adjusting configurations based on user inputs to deliver accurate, tailored solutions.
CPQ tools are essential for businesses with intricate product catalogs, multiple pricing models, and various bundling options. By utilizing CPQ, companies can improve sales efficiency, reduce errors, and enhance customer satisfaction. Your CPQ tool should have an intuitive interface, allowing customers to interact seamlessly and make real-time changes on the go.
Image credit: Sculptor CPQ for Salesforce
Key Features of CPQ Solutions in Salesforce
Salesforce-native CPQ apps, such as Salesforce CPQ and its alternatives, are packed with features designed to streamline the sales process within Salesforce and are tied to Salesforce processes, features, and objects.
Here are some of the most common CPQ features: automated quoting is not possible without.
Product Configuration
CPQ allows users to configure products based on customer requirements. With a user-friendly interface, sales reps can easily select product features, options, and bundles. The system automatically validates configurations against predefined rules, ensuring that only compatible products are offered. This minimizes the chances of errors and enhances the customer experience.
Dynamic Pricing
CPQ software can handle various pricing models, including volume-based pricing, tiered pricing, and discounts. CPQ tool dynamically calculates prices based on the selected configuration, applying any applicable discounts automatically. This ensures that sales reps can provide customers with accurate and competitive pricing without manual calculations.
Guided Selling
Guided selling is a powerful feature of Salesforce CPQ that assists sales representatives in navigating complex product offerings. The tool provides prompts and recommendations based on customer input, guiding reps to the best solutions for each unique situation. This not only improves sales effectiveness but also enhances the overall customer experience.
Quote Generation
Once a product is configured and priced, CPQ allows users to generate professional web and PDF quotes quickly. The tool creates customizable quote documents that can include branding, terms and conditions, and specific product details. This feature saves time for sales teams and ensures consistency in customer communication.
Approval Workflows
In many organizations, certain pricing or discount levels require managerial approval. Salesforce CPQ offers configurable approval workflows that streamline this process. Sales reps can submit quotes for approval within the platform, and managers can easily review and approve or reject them. This feature helps maintain control over pricing while ensuring that sales opportunities are not stalled.
Integration with Salesforce Ecosystem
One significant advantage of native CPQ solutions is their seamless integration with other Salesforce products, such as Sales Cloud and Service Cloud. This allows sales teams to access customer data, account information, and historical sales data all within one platform. As a result, reps can make informed decisions and provide a more personalized experience for customers.
Analytics and Reporting
For instance, Salesforce CPQ provides analytics and reporting features that allow organizations to track performance metrics, identify trends, and make data-driven decisions. Sales teams can analyze quote conversion rates, average deal size, and sales cycle length, enabling continuous improvement in the sales process.
Why Companies Go For CPQ in Salesforce?
CPQ Streamlines Sales Processes for Your Team
Customers expect a smooth, hassle-free purchasing experience, without dealing with complex product configurations. CPQ allows you to serve your customers fast with quotes relevant to them, with preconfigured cross-sell and up-sell options. Its intuitive interface allows real-time adjustments for a seamless interaction with customers.
CPQ Speeds Up Approval and Payment Workflows
Slow internal approvals can lose deals. CPQ automates workflows, moving quotes quickly through departments. Sales teams can set approval criteria based on factors like margin or discount, ensuring a faster, more efficient approval process.
CPQ Keeps Pricing and Promotions Up-to-Date
Outdated communication methods like spreadsheets can cause delays and errors. CPQ centralizes pricing updates, ensuring teams stay informed in real time. It enables price adjustments and promotions without IT intervention, reducing the risk of unnecessary discounts.
CPQ Software facilitates Order Fulfillment
After closing a deal, ensuring accurate and timely fulfillment is key. CPQ integrates departments, so changes in orders—like adding or removing products—don’t disrupt fulfillment. Features like guided selling, contract management, and analytics ensure smooth sales and delivery operations.
CPQ Customizes the Proposal Process with Better UI
Sales reps often spend too much time creating tailored proposals. CPQ offers template-based, easily customizable quotes, allowing sales teams to focus on selling. With easy access to product catalog and rules-based interactions, reps can modify proposals quickly.
Considering getting a CPQ Solution for Salesforce?
Business owners seeking a solid return on investment will find that CPQ vendors offer flexible pricing models and subscription plans. The best way to evaluate a Salesforce pricing tool‘s value is through a “try before you buy” approach.
Sculptor CPQ for Salesforce, available on AppExchange, allows you to do just that. You can install a free non expirable version to explore features like pricing rules and interactive web quotes.
Many CPQ solutions typically require 3-6 months for implementation and the help of certified CPQ specialists or Salesforce consultants, but with Sculptor CPQ you can test sales quoting in a matter of days to enjoy easy access to price books and spend less time on calculations.