Home » What is Salesforce CPQ – Why Every Business Need it?

What is Salesforce CPQ – Why Every Business Need it?

by | Apr 5, 2021 | Blog

Salesforce CPQ is one of Salesforce’s groundbreaking solutions ever established in the market. The constant operational upgrades in the sales cycle have driven businesses globally to optimize their sales operations with Salesforce CPQ. From being a nice-to-have solution to becoming an imperative part of your operational model, Salesforce CPQ is now the go-to solution for any business that demands an improvement in sales efficiency.

Imagine your business is on the verge of closing deals, but your schedules are dependent on manual activities, which hinder your quote creation. Doesn’t this bother your sales team? Don’t worry; you’re not alone here.

Recent research found that only 34% of sales reps’ time is spent efficiently on selling, while most of their time, they are occupied with manual quote creation, approvals, and proposals. And this is where Salesforce CPQ could help your sales team by automating your critical tasks and help streamline your sales operations.

Salesforce CPQ (Configure, Price, and Quote) has always been the solution for sales reps to overcome their common challenges in the quote-to-cash cycle. If your business uses legacy quote configuration and faces issues with inaccurate quotes, then Salesforce CPQ is the ultimate software your business requires. Salesforce CPQ uses the simplest order form for most businesses with a complex selling process.

Configure, price, and all things nice

Configure:

To be precise, it’s about how you Configure your order. It is the first and simplest step you take once your brand new CPQ is out of its box. Fill out essential details about your customer, product/service, and then proceed with your sales process. Align your product/service to map with the unique business requirements of your customer. Here, the service/product features are customized and structured to offer them as a package. The important parameters to be considered here are  – the quantity, service or product units offered, and configuration rules.

Price:

Immediately after the configuration of products, you set the pricing with accuracy. Set the pricing in accordance with the different price lists. Apply discretionary discounts for customers, and let Salesforce do all the math. Dynamic pricing or generating accurate quotes in brand-aligned PDF documents has never been more accessible. Sales representatives can calculate unit, block, subscription pricing, and discounts with just a few clicks.  

Quote:

Once the pricing is set, next comes the generation of quotes. As the final step of your sales process, you need to get the quotes signed and approved. It’s also called the Quote-to-cash process, where it covers all the parts from the opportunity to cash collection. Users can set up perfectly customized on-brand quotes with Salesforce CPQ. Quotes can be generated lightning quick by feeding in the basic information. Quotes refer to both electronic records of quotes and PDF documents. For more details, visit (SF link/ optional). 

Don’t let the customers drop off from your sales funnel

Here’s a common scenario that explains why your sales cycle needs to be quick and efficient. In the below example, we take you through a buyer’s journey to elucidate the stages that force your customers to drop off from your sales funnel.

Step 1: A prospect is interested in your product(s).

Step 2: Multiple interactions are involved in getting a quote and placing the order.

Step 3: After placing the order, closing the deal takes weeks and months as the sales cycle halts at several places.

Do you know where the problem lies? In steps two, and three. And that’s precisely why every business needs a CPQ Implementation

Why should your business invest in Salesforce CPQ?

  • CPQ doesn’t empower sales teams alone. It supports customer service and finance teams who’ll benefit by decreased handling time and fewer mistakes.
  • It provides customers a self-service experience and reduces sales touches.
  • It vastly improves price positioning and quotation quali
  • With Salesforce CPQ, the first and foremost potential is that you can free up the precious time of your sales reps.
  • It reduces the time spent on sorting out complex contracts or billing processes.
  • Automating the sales process with CPQ ensures a precise quote with swift processes. 
  • Integrating CPQ with other platforms such as your business ERP helps streamline the overall business operations.
  • It acts as a powerful platform for sales professionals and businesses to manage complex configurations, specialized pricing rules, and closure of bigger deals.
  • CPQ’s ability to offer personalized quotes for customers helps improve the overall customer experience.

The right time to implement CPQ is NOW

DemandBlue understands that any technology is only as good as the data it runs on. Over the years, we’ve managed agile implementations for complex CPQ projects and helped companies pivot to new business models. Our custom Salesforce CPQ implementation will help address your specific industry needs. Our CPQ expert team understands your business model and will guide your sales team to configure product bundles, set up different price rules based on varying discounts on quotes.

DemandBlue offers Accelerator packages such as Salesforce CPQ Quickstart and SaaS accelerator to hasten your Salesforce CPQ implementation and maximize the Salesforce ROI. Head here to learn more about how DemandBlue’s On Demand Services for Salesforce CPQ can add value to your business.

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DemandBlue has been helping customers achieve success with Salesforce for over ten years. To learn more about DemandBlue’s unique on-demand services offering please reach out to one of our Salesforce experts. We look forward to helping you grow your business with DemandBlue!