What is CPQ in Salesforce, and How Configure, Price, Quote Salesforce Solutions Bring in Revenue

Date: January 2024
Estimated reading time: 6 minutes
Oksana Mikhalchuk
Head of Content
Creating sales is not a simple task. Building interest in a product demands additional attention, especially when crafting compelling product quotes.
This often becomes a time-consuming task, directly impacting the overall sales productivity.
So if your sales team:
  • Has difficulties in ensuring accurate and tailored quotes for each product or service
  • Coordinates quote generation across multiple platforms daily
  • Generates quotes for complex products manually
then CPQ or Configure, Price, Quote software could revolutionize your organizational dynamics.
What is CPQ
What is CPQ Software
CPQ system empowers the sales team to expedite the creation of quotes, bids, and agreements. Unlocking hidden processes and eliminating manual procedures enhances visibility into pricing tasks, ultimately boosting efficiency. Ыuch software proves instrumental in overcoming diverse sales challenges and streamlining the entire process.
CPQ configuration is a complicated sales process for the vendor and the buyer. In the early sales cycle phase, buyers get access to essential decision-making data. The initial quote includes bulk discounts, packages, add-ons, and special offers based on client product configurations, accelerating the deal's progression through the pipeline.
CPQ software reduces the manual labor required to generate quotes. Since sales representatives can use pre-built templates and automatically draw information from the catalog, preparing a complex quote in less time is much easier.
Below, you will discover the benefits of CPQ in Salesforce and learn how this comprehensive tool for efficient quote management and configuration benefits your sales ecosystem.
This begs the question:

What is CPQ in Salesforce?

CPQ, or Configure, Price, Quote, is a Salesforce proposal generator designed to simplify and enhance the configure-price-quote process for sales representatives, reducing complications and allowing buyers to personalize products to meet their specific needs.
Such a Salesforce quoting tool allows sales teams to create, manage, and track quotes within the Salesforce environment. Product rules in Salesforce CPQ enable businesses to define intricate logic governing how products interact with each other within a quote. These rules dynamically adjust product configurations based on user inputs, ensuring accurate and tailored solutions for customers.
Another feature, a Salesforce CPQ price rule, automates pricing calculations based on predefined criteria, enabling businesses to implement complex pricing structures quickly. A price rule ensures precision in quoting, whether volume discounts, promotional pricing, or custom pricing models.
The last step in the CPQ process in Salesforce is generating a professional and accurate sales quote after configuring the products and determining the pricing. It summarizes the proposed solution, including the configured products, the pricing details, the terms, and anything else pertinent. The generated quote is precise and easy to understand, making it a powerful tool for closing deals.

How Can CPQ Help Businesses Achieve More Revenue?

According to Globe News Wire, the worldwide demand for CPQ solutions is anticipated to reach a projected amount of USD3.9 Billion in 2026, expanding at an annual growth rate of 16.3% throughout the forecast period.
Сonfigure, Price, Quote (CPQ) Software benefits
Сonfigure, Price, Quote (CPQ) Software benefits
Сonfigure, Price, Quote (CPQ) software primarily ensures that your proposal is client-ready. You can add a personalized touch by incorporating brand-centric themes, layouts, cover pages, and terms and conditions.

Benefits of CPQ Tools

The key benefit of configure-price-quote software is configuring the right products to sell to your customer, both simple and complex products (product bundles), skipping a bulk of manual operations, errors, and recalculations.
CPQ software simplifies your everyday sales routine and improves sales efficiency by guiding sales reps through the quote process using a sales playbook.
Here are a few reasons to get CPQ for your sales force efficiency.
Speed up Sales Cycles
CPQ software streamlines the complex sales process for the vendor and the buyer. In the early phases of the sales cycle, buyers gain access to crucial decision-making data.
The initial quote incorporates bulk discounts, packages, add-ons, and special offers based on client product configurations, saving time and expediting the deal's progression through the pipeline.
CPQ software significantly diminishes the manual effort required to generate bids.
With the ability for sales representatives to utilize pre-built templates and automatically extract information from the catalog, preparing a complex quote becomes much more straightforward and time-efficient. This accelerates response times and reduces the overall duration of sales cycles.
AI-Powered Salesforce integrations
Set-and-forget pricing rules configuration in Salesforce
Create proposals, quotes, and contracts seamlessly
With the ability for sales representatives to utilize pre-built templates and automatically extract information from the catalog, preparing a complex quote becomes much more straightforward and time-efficient. This accelerates response times and reduces the overall duration of sales cycles.
CPQ makes it easy to provide personalized sales content precisely when most clients request it. Customizable templates minimize the likelihood of proposal inaccuracies and ensure that prospects receive accurate, on-brand bids.
A well-thought-out CPQ strategy and effective CPQ CRM software integration are crucial to meeting consumer expectations. CRM software can assist organizations in developing robust relationships with clients, enhancing dialogues, and increasing revenue rates based on consumer data from various interaction channels.
Increase Sales with Artificial Intelligence
The CPQ software for small businesses streamlines the entire process, from invoice creation to the final procedure. This process is automated, ensuring accuracy throughout. The solution comes with cutting-edge features such as Artificial Intelligence that allow companies to establish logic, whether a payment procedure requires a particular milestone or an assertive collection strategy.
A Salesforce quoting tool will help your sales team make informed decisions, which can ultimately increase profitability. Businesses can customize rates based on external criteria such as competitors' prices and market trends. Moreover, they can generate automatic reports to track sales profitability and performance.
Your Ultimate Guide
on Sales Quotes
Automation in
Get Guidance for Cross-Selling and Upselling Oppportunities
Guided selling is a crucial feature of Salesforce CPQ. It empowers your sales team to understand and address each customer's unique requirements. Once integrated into your business processes, Salesforce CPQ becomes a valuable tool for responding to client requests.
Guided Selling benefits companies offering a wide range of products and services. Your sales can identify and meet your customers' core needs with precise insights.
Communicate Effectively
Custom orders come with unique requirements. It is crucial to effectively communicate design details to the shop floor and provide proper installation and assembly instructions on-site.
CPQ software facilitates the creation of custom drawings, including bills of materials (BOMs), shared with shop engineers. Precise 3D models are also provided to the customer during order placement. With pre-approved design parameters, the likelihood of order cancellation is minimized.
Provide Better Customer Experience
According to a survey by Customer Thermometer, 89% of clients will shift to a competitor if you fail to meet their expectations for customer service. Thus, businesses must provide clients with a feature-rich, adaptable, highly scalable customer care.
With the implementation of CPQ, clients can self-configure their items based on design criteria.
As CPQ technology handles administrative tasks and creates an optimal experience, sales representatives can shift their focus to the human elements of business, including trust, communication, guarantees, and after-sales support.
This makes the customer experience truly remarkable. Properly managing these factors can lead to significant sales growth, placing control firmly in the hands of the sales agent.

Salesforce Quote Management: Possible Options

Once we’ve established that CPQ software is essential for handling Salesforce proposals, let’s explore how it can be integrated into your Salesforce setup.
CPQ can be a standalone solution. But more often, it's an app or extension that can be integrated into the company CRM, like Salesforce, SAP, Hubspot, etc., to provide a seamless and automated quoting process for sales reps.
Reasons to Adopt Сonfigure, Price, Quote (CPQ) Software
Reasons to Adopt Сonfigure, Price, Quote (CPQ) Software

What is Sculptor CPQ for Salesforce?

Sculptor CPQ is a 100% native Salesforce proposal generator. That is, the app is built inside Salesforce’s interface to ensure the most user-friendly and hassle-free experience.
This Salesforce quoting tool accelerates business automation and streamlines the quotation process from beginning to end.
The app has been designed to work with Salesforce's standard data model and objects to ensure it does not disrupt any of your existing sales processes. What does it mean for your business?
If your team uses Salesforce Sales Cloud Enterprise, you can integrate Sculptor CPQ seamlessly.
Installation of this Salesforce application will not affect any of the set sales and other processes. You can freely try and test the tool and uninstall it if the application does not meet your business’s goals and needs.

Considering CPQ Implementation in Salesforce?

Salesforce CPQ tools empower your sales team to effortlessly navigate complex deals by streamlining quoting, ensuring accurate pricing, and enhancing configurability.
Automating manual tasks ensures efficiency, while advanced features like AI-driven logic contribute to strategic decision-making.

FAQ: CPQ in Salesforce

CPQ, or Configure, Price, Quote, is a software solution that automates and optimizes sales by enabling businesses to efficiently configure products, determine accurate pricing based on various factors, and generate professional and accurate customer quotes.
Considering CPQ implementation?
Let's discuss how Sculptor CPQ can help your business!
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