Search for Content

So, your company has invested in creating an amazing lead generation and marketing system using the power of Salesforce’s Pardot and Marketing Cloud.  They’ve nurtured those leads and now those leads are turning into this quarters’ next big opportunities.  You’ve been tracking every interaction with one of those potential clients within Salesforce, filling in the necessary account and contact details and refining the opportunity.

Finally, the day comes!  Your Client wants a quote, but your products are complex, and your pricing is complicated.  Quotes can take weeks just to generate a single quote and your potential client wants to see several options—meaning not just one, but many.  However, your potential client isn’t your only worry.  Your up-line Sales Manager is pushing to close the deal faster and the pressure from your quarterly quota is ever-present.  There must be a better way which is more efficient and puts more power in your hands.

The answer lies with a system that makes quoting simpler—Configure, Price, and Quote, commonly known as CPQ.  Powered directly within Salesforce, CPQ can help you close deals faster, more accurately capture the details your fulfillment teams need, and ensure that your profits aren’t walking out the door.

Now let’s dive deeper into each component of CPQ to understand how each help meet a specific need.

Configure is all about the products within your product catalog.  Working with your Product Managers, an administrator can model even the most complex products.  You probably have products with attributes (ex: color, size, dimension, geographic location) that must be captured so that your company can fulfill the deal.  Some of your products probably have options that are either required, like basic support, or optional, like premium support.  And yet other options can be bundled together to form extremely complex hierarchies.  But how do your salespeople know which products to sell?  It’s here, within configure, that guided selling and other deal maximization techniques help to guide the behavior of your sales team, thereby increasing the deal size and win ratio.  Configure ensures that the right products are quoted, the quote has the necessary fulfillment details, potential upsell options are considered, and even the most complex products are easy to quote.

Pricing is a set of rules that your administrator creates which ensures that your companies’ pricing goals are met.  Pricing can be very complex, but you already knew that.  Those bundles have discounts.  The attributes you configured might have upcharges.  How do you ensure that your repeat customers consistently get a 5% discount?  Just as any Salesperson knows, discounts are also a natural part of the negotiation.  Your CFO probably lays awake at night worried that someone is giving a 90% discount.  Pricing ensures accurate, company approved, pricing while Approvals ensure your profits are protected.

Finally, quoting allows for the generation of a document which your potential client will, hopefully, sign.  At the heart of quoting is a set of templates.  The templates can be used for many different purposes.  Some templates are for specific products, some are used in certain countries or geographic regions, and others have branding for the many organizations that sell your products.  Company approved templates also make sure that all the necessary legal clauses are present on the quote.  At the same time, unique versions of each quote are tracked so that your company can report on how the deal changed over time.  Quoting is the final step in the process.  Having brand accurate, legal compliant, finance approved quotes mean that your company is putting it’s best foot forward.  Now, all your potential client has to do is sign on the dotted line—and there are eSignature solutions to make even that easy.

CPQ is about putting powerful, adaptive, tools in the hands of your salespeople while reducing risk by placing safe guards around the things your company values most.  So, if you’re interested in closing deals faster, more accurately capturing key fulfillment details, and ensuring brand accuracy and legal compliance, then CPQ should be a part of your companies’ Salesforce journey.