What is the term for CPQ Called in Salesforce?
Formerly known as Salesforce CPQ (Configure, Price, Quote), it is now referred to as Revenue Cloud. This tool assists sales representatives in generating precise quotes for customers, surpassing basic Opportunities Products and Quotes. It is designed to facilitate the selling of intricate product sets and bundles.
Is Salesforce Configure Price Quote the same as Revenue Cloud?
Yes, Salesforce CPQ, now named “Revenue Cloud,” enables organizations to streamline their revenue-related functions directly within the Salesforce platform. It encompasses activities from quoting to billing and extends to revenue recognition.
Salesforce CRM primarily focuses on customer relationship management, data storage, and enhancing sales and marketing efforts. In contrast, Salesforce Configure Price Quote specializes in creating accurate quotes, managing pricing, and configuring complex product or service offerings.
What is the purpose of Configure Price Quote in Salesforce?
In Salesforce, Configure, Price, Quote Software, serves as a sales tool allowing companies to provide precise pricing for various product configuration scenarios. It enables sales representatives to create customized quotes based on buyers’ needs and syncs interactions with a deal’s documents within Salesforce CRM.
Can Salesforce Billing be used without CPQ?
No, Salesforce Billing requires Salesforce Configure Price Quote. It is recommended to install the same release of Salesforce Billing as Salesforce Configure Price Quote for compatibility and seamless integration. Salesforce Billing depends on specific settings from the Salesforce CPQ package.
What is an example of CPQ in Salesforce?
For instance, a sales representative selling a bundled product named ‘Desktop for Home’ can use CPQ product rules to offer the ‘Desktop for Home’ product without including a keyboard, tailoring the configuration to the customer’s preferences.
How can CPQ enhance the bottom line?
CPQ software, integrated with Salesforce CRM, streamlines the sales process, reducing wasted time and enhancing efficiency. It aligns with lean principles, ensuring clear communication, accurate proposals, and valuable interactions with customers. CPQ increases deal size by serving as a Subject Matter Expert (SME), providing insights, identifying options, and offering accurate quotes, ultimately contributing to sales growth.
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