If your company uses Salesforce in any capacity, then you must’ve heard of CPQ. While it’s evident that it plays a key role in the process of sales, you may be wondering whether Salesforce CPQ is right for you. Statistics show that sales reps spend most of their time generating quotes and composing proposals than focusing on closing deals. And here’s where CPQ emerges as the best solution to help streamline the process and management practices. But why choose Salesforce CPQ at all?
With CPQ, organizations can transform their sales operations and efficiency. But beyond that, there are a few key benefits of Salesforce CPQ that you ought to know.
What is Salesforce CPQ?
Simply put, CPQ is the acronym for Configure, Price, and Quote. It’s a sales tool provided by Salesforce for companies to create and share accurate price quotes quickly and easily, which means generating precise quotes for orders. It factors in customizations, quantities, discounts, and several other optional features while generating estimates, allowing sales reps to quote the prices quickly and accurately.
Configuration: It is done by asking questions to the customer about the required product.
Price: Depending on the configuration, the price is generated, which includes all types of discounts. The sales reps do not really have to do the math, it is all done by CPQ!
Quote: A PDF with all the quote details is generated, which can be sent to the customer directly.
Is Salesforce CPQ Right for You?
Towards the end of a sale process, prices are quoted and negotiated, and the final contracts are drawn up. Although this is important at the final stage of a sale, the process is often slow and tedious. The constant back and forth can be taxing which may sometimes lead to the buyer losing interest in the product altogether.
So, if you need to streamline these final steps and help reps to complete this stage quickly, then Salesforce CPQ pricing solutions is perhaps right for you. You can avoid the hassle of going through spreadsheets to find the right pricing structure and dodge manual errors while giving information- you can close deals efficiently and accurately.
Key Benefits of Salesforce CPQ
Salesforce CPQ is amazingly beneficial for your sales teams as well as the overall organization in several ways. Listed below are some advantages:
Create quotes quickly. There are outstanding templates available in Salesforce CPQ that you can use to integrate the process of your sales with various applications. You can also create multiple quotes quickly and efficiently, which will enhance your sales profitability.
Track and automate. You can easily track your prospect and customer information from within your CRM. Additionally, you can solve your organization’s challenges by streamlining and automating a comprehensive pricing strategy.
Tailor-make your contracts and sales quotes. You can simplify and optimize your selling process with the help of CPQ’s guided selling. This feature allows sales reps to enter the information related to the sale and generate packages based on the prospect’s unique needs.
Make better-informed decisions. When it comes to special pricing, discounts, and terms, Salesforce CPQ is the best for making the right decisions. You can also track your customer preferences, which will help you make the right suggestions of products and services to them. Not only can you cross-sell, but also build your customer base.
Eliminate errors. You can avoid manual errors by using reliable data sources to auto-populate fields. Since Salesforce CPQ also stores all the information about policy and price changes, you can be sure of your accuracy.