5 Key Elements to Maximize the Utility of Your Salesforce CPQ Instance

Equipped with the intelligence to store previously used quotes/product bundles, Salesforce CPQ helps sales reps deliver personalized quotes to your clients enabling better service and experiences. It consists of all the necessary information about policy and price change which ensures the accuracy of the sales team to process quotes quickly and close deals without a lot of manual intervention.

There are, unfortunately, only a handful of organizations that realize the true potential of their CPQ instance. There are a number of out-of-the-box functionalities that could dramatically enhance the effectiveness of Salesforce CPQ and help organizations maximize the utility of their CPQ instance. We’ve listed the top 5 of them for you:

1. Guided Selling
By keeping customer preferences at the epicenter, guided selling within Salesforce CPQ is like an experienced sales person. Instead of forcing the sales person to scour from a large range of products and services to select a suitable one that matches the customer’s needs, it uses clear logic that can be defined by automatically choosing an optimal solution based on customer needs.

2. Large Scale Amendment and Renewal Service
Earlier, Salesforce CPQ struggled with long loading times and errors while tweaking, modifying, or renewing contracts with many assets and subscriptions. With its Summer ’19 release, Salesforce CPQ introduced the Large-Scale Amendment and Renewal Service to address and fix this limitation. The Large-Scale Amendment Service supports amendment renewal actions on contracts with a significantly larger number of related records, with the exception of the limit on some specific customer implementations.

3. Product and Price Rules
With four kinds of product rules: validation rules, selection rules, filter rules, and alert rules, CPQ ensures that sales reps are putting together the right products and bundles every single time. You can improve the selling experience while increasing quote accuracy by combining these product rules.

If your business contains products that change in response to the presence of other products on your quote, Salesforce CPQ price rules would be the best bet. They help control quoting, optimize sales, automate price calculations, and update quote line fields.

4. Multi-Dimensional Quoting
CPQ has got you covered if you are looking for more dynamic ways to handle subscriptions. Multi-dimensional Quoting (MDQ) helps you to declaratively set up line items with blocks of time (days, months, years, etc) with quantity and discounts separate from one another. You can monitor the quantity and discounts over time without having to add new line items.

5. Advanced Approvals
With key features like Smart Approvals, Requiring Approvals, Delegated Approvers, and Replacing Approvers, you can automate and customize your approval process. You may require approvals when records meet certain conditions, to automate resubmitted approvals, and control the order that approvers receive requests. The approval status fields allow admins and sales reps to easily track the position of both the submitted record and the corresponding approvals in the CPQ Advanced Approvals.

Both your business and customers don’t fit a cookie-cutter mold but with Salesforce CPQ, you can create the right mold for them. The perfect blend of automation, guidance, AI technology, customization, and other elements together contribute to make it a vital stimulus that facilitates your overall business processes.

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