CPQ

 CPQ

• CPQ stands for configure, price, and quote.
• What products does the customer want to buy (configure)?
• How much do those products cost (price)? 
• How can we give the customer details about the sale (quote)?
• Salesforce CPQ, a native Salesforce app that helps you and your team close deals even faster.
• Salesforce CPQ makes the process much easier for you and your team. And it helps you produce a quality quote that’s complete and accurate and that looks professional.

What Does CPQ Actually Do?

• With Salesforce CPQ, you and your sales team can create quotes quickly, with minimal effort and minimal error. 

• Here’s a little rhyme to introduce you to the wonders of CPQ:

• The C is for configure. You pick out what they’ll buy.

• The P is for price. We add it up, easy as pie.

• The Q is for quote: A nice PDF for you.

A quote is both the document you give the customer and the electronic record of quote data. Your opportunity is where you go to create a new quote. You can create many quotes on that opportunity, but only one can be your primary quote.

 

Salesforce CPQ simplifies product selection so you create quotes correctly the first time.

Sometimes you have to sell products as a package because the component products depend on each other. With Salesforce CPQ, your Salesforce admin can group products in a set and enforce rules to ensure the set is complete and accurate. These sets are called bundles. 

Price Rules

There are four kinds of product rules:

• validation rules

• selection rules

• filter rules, and

• alert rules.

Validation Rules	Validation rules confirm that a quote’s product combinations or quote line field values match predetermined conditions.
Selection Rules	Set up rules to automatically add, remove, hide, enable, or disable options in a bundle.
Filter Rules	Prefilter the products that are available to add to a bundle.
Alert Rules	Guide and inform through messages during configuration or pricing.

Salesforce CPQ price rules help control quoting and optimize sales. Price rules automate price calculations and update quote line fields.

Salesforce CPQ is a solution used by sales, it really does affect how a company as a whole goes to market and delivers service to customers. To sum it up:

• Product and pricing rules help product and pricing teams establish value and determine how to better package what you’re selling.


• Advanced approvals enable sales, operations, and legal teams to work better together to ensure there are appropriate checks and balances.


• Advanced order management helps post-sales teams (think services and partners) deliver as expected and on time.


• With all this data centralized, and with how Salesforce CPQ treats time, these teams can keep a better eye on the customer and iterate for better execution and delivery.

CPQ BASICs Reference link