In this article, we will learn Salesforce CPQ features and how that helps your business to reach the next level. Salesforce CPQ (Configure, Price, and Quote) helps to make the quote-to-cash process fast, efficient and accurate, connecting everything, from everywhere, with a single platform. CPQ makes your organization more efficient by streamlining the sales quote management process.
Generate revenue faster by quickly closing the deals with the following features of CPQ:
•Configure complex deals easily and faster
•Grow and nurture the customer base
•Reduce compliance burden and financial risks
•Automate Customer life cycle
•Provide insights
The above-enlisted features are explained in the following section.
1) Configure complex deals easily and faster
•Use the step-by-step configuration wizard to enable the sales reps to pick out the correct products and services.
•Create branded quotes accurately with a mere click for hiding and revealing quote lines and discounts.
•Streamline complex sales cycles with rules and pre-configured solutions.
•Use pre-defined pricing and discount guidance for various deal scenarios of complex quotes.
2) Grow and nurture the customer base
•Get the worth from an earlier quote or define negotiated prices by streamlining repeat business.
•Streamline the method for add-ons or upgrades for easier upselling and cross-selling.
•Offer complete visibility into the customer’s purchased assets and subscriptions in a very single place for the empowerment of service agents.
•Generate renewal quotes proactively and thereby reduce churns by sending them to clients.
3) Reduce compliance burden and financial risks
•Ensure that the sales reps use automated guidelines and dependencies for reps to quote complete, compliant solutions.
•Add product and customer-centric terms to quote for reducing contract complexities.
•Create automated cross-functional approvals for alignment with policies, without slowing the sales cycle.
•Use one unified pricing engine for ending the discrepancies in price associated with orders, invoices, and quotes.
4) Automate Customer lifecycle
•Split quotes into multiple orders based on time/location for automated complex orders.
•Automate onetime invoicing, invoice consolidations, and recurring or usage-based fees for on-time cash collections.
•Offer simplified ERP integrations with precise customer data and revenue schedules.
•Streamline electronic payments for reducing manual intervals.
5) Provide Insights
•Analyze discounting trends cutting across geographies, sales teams, and products with the help of AI.
•Use real-time KPIs of the likes of MRR, and churn that manage the recurring growth of revenue.
•Bring about an accelerated sales cycle growth by eradicating the bottlenecks of your quoting process.
Get more detailed informative videos on the Youtube link:: https://youtu.be/RQeQEKkH-w4
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