Introduction to Salesforce CPQ Training:
Salesforce CPQ is a native salesforce tool designed for sales teams to create more accurate and highly personalized codes. It provides centralized access to all the products, services, available prices and customer data of your company allowing a notable increase in productivity. CPQ salesforce or Configure Price Quote software by salesforce is a sales tool for companies to provide accurate pricing with any given product configuration scenario. We at Ides Trainings are striving to fill the skill gap and corporate requirement with our customized corporate training sessions. We have experienced and expertise trainers to focus on productivity enhancement, skill building services, Management, soft skills and skill building. We provide Online training, corporate training and classroom training at locations like Pune, Mumbai, Hyderabad, Delhi, etc. We provide Virtual Job Support as well.
Prerequisites for Salesforce CPQ Training:
Anyone who wants to build a career in Salesforce CPQ can learn this course. Having basic knowledge in Salesforce technology is required.
Salesforce CPQ Training Course Outline:
Course Name: Salesforce CPQ (Configure Price Quote) Training
Mode of Training: We provide Online, Corporate and Classroom Training. We provide Virtual Job Support as well.
Duration of Course: 30 Hrs (Can be customized as per the requirement)
Do you provide materials: Yes, if you register with Ides Trainings we will provide materials.
Course Fee: After registering with Ides Trainings one of our coordinators will contact you.
Trainer Experience: 12+ years of experience
Timings: According to one’s feasibility
Batch Type: We provide all types of batches Regular, Weekends and Fasttrack.
Basic Requirement: Good internet speed and headset.
Salesforce CPQ Training Course Content:
Module 1 – Package Setting and Products
1.1 Update Package Settings
1.2 Update Product Fields
Module 2 – Creating Quote
2.1 Creating an Account, Contact, Opportunity and Quote
Module 3 – Configuration
3.1 Product Bundle Settings
3.2 Create Features for a Bundle
3.3 Create Product Options for a Bundle
3.4 Create Option Constraints for a Bundle
3.5 Create Configuration Attributes for a Bundle
Module 4 – Product Rules
4.1 Create Product Rule
4.2 Create Selection Product Rules and Using Lookup Queries
4.3 Create Validation Product Rule
4.4 Create Alert Product Rule
4.5 Configuration Attribute
4.6 Create a Dynamic Bundle(Using Filter)
Module 5 – Custom Actions
5.1 Create Custom Action
Module 6 – Guided Selling
6.1 Guided Selling
Module 7 – Pricing
7.1 Pricing Methods
7.2 Manual Discounting
7.3 Create a Discount Schedule
7.4 Contracted Pricing
7.5 Subscription Pricing
7.6 Multi-Dimensional Quoting
Module 8 – Pricing Rules
8.1 Create Price Rules
8.2 Create Price Rules using Lookup Queries
Module 9 – Contracting
9.1 Create a Contract and Renewal Opportunity
9.2 Amend a Contract
9.3 Create a Renewal Quote
Module 10 – Quote Templates
10.1 Quote Template Basics
10.2 Custom Quote Template
The motto of CPQ tool is to fasten the sales process so that organizations can quickly do the sales without any errors and get more effective results. This tool helps the sales person with the relevant questions a customer asks for. In this tool, organizations can store or update the pricing and quotes related to their products which helps the sales team to fasten the process and get more effective sales.
What is CPQ?
Configure – Configure is basically, what a customer wants to buy?
Price – Price is nothing but how much does that product cost?
Quote – Quote is all about how can we give the details of the sale (quote) to the customer?
Common Quoting Challenges
When a customer wants to buy our product, we need to give a pricing quote to them. Generating accurate quote is a biggest challenge for many companies even today. Some companies maintain their product/pricing catalog in offline files like word, excel or pdf. The sales reps have downloaded this files and started using it again and again for their deals.
What happens when products and pricing change?
It is easy to publish a new file version with details updated but it is hard to ensure that the sales reps are referring only to the updated file. There is no guarantee that the product or price a customer is offered is correct and up to date. Even if the error gets caught before sending a quote, there is a considerable amount of time spent in fixing and revising it.
Some companies have large product catalog with complex business and technical rules to be followed. They either use a homegrown solution or an excel file with an extensive macros. Not everyone knows how to deal with the macros. Imagine, if a person who built it is no longer there in the company or the knowledge gets lost. All these slow down the deals. Some companies do not have ways to formally request or track approvals. It could entail emailing for approval or walking down to someone’s desk which becomes ideally difficult to track or report on.
When we are the sales rep dealing with multiple deals all these can slow us tremendously down and in turn cause a bad customer experience. Many companies invest heavily in branding and building image when quote documents are prepared manually in Microsoft word or any other document, there could be a large variation from one document to the other in both branding and content.
In addition, to lengthy turnabout times slowing down the sales cycle, an imperfect quoting process can badly affect closure rates, leave a negative customer experience and allow the money to leak out in the following ways:
1. Missed opportunities to increase deal size
2. No common (one-stop) place to store and report on data
a. Leading to poor visibility and control
b. Lack of visibility/ accuracy in the sales pipeline (New Business or Renewals)
3. Financial impact of making things right when a quoting error is made
CPQ solutions generally address the selling and quoting challenges by
1. Capturing the tribal knowledge and using it to enable the users with less training or experience to prepare accurate quotes.
2. Guiding users through a consistent process of selecting the best products for the customer.
3. Enforcing business and technical rules to ensure complete and valid configurations.
4. Ensuring the latest product and pricing data is always available and used to prepare quotes.
5. Managing discounting and approvals.
6. Generating dynamic proposal documents with consistent branding, content and structures.
Salesforce CPQ Process flow
Create Opportunity – It all starts with the familiar accounts and opportunities. At some point when we want to put together a quote for a customer for sale and we want to begin the process i.e., CPQ process comes into play.
The quote will typically have the customer information start and end date as the basic information to start with along with the rest others.
Product Configuration – Next is adding products the customer wants the users can search the product catalog to find and add the product. Let’s say we have a product selected and it needs to be configured. For example, let’s pick a product here say we have a laptop that is being quoted
How much memory?
How much storage?
Do they want to add an extended warranty? or
Do they want to buy some recommended products like a printer or a wireless mouse?
Once these choices have been made for that particular product bundle, the process can be repeated as many times as needed for the additional products on the quote.
Pricing and Discounting – Once all the products are selected user will look at the pricing for the products and the discount if necessary to get the deal done.
Quotes and Proposals – Once user is happy with the way products and pricing looks on a quote, they can submit it for approvals if needed to be. Salesforce CPQ can either use its salesforce standard approvals functionality or use its very own advanced functionality for functions that the standard approvals don’t provide. For instance, like parallel approval tracks.
Once a quote is approved, a quote or a proposal document is generated and sent to the customer.
Electronic Signature or e-signature – e-signature or electronic signature is optional. Salesforce CPQ integrates with DocuSign and adobe sign to quickly generate and send documents to the customers for e-signature just with one click.
Contracting – Salesforce CPQ is not a contract lifecycle management application. This is really a product focused contracting. Taking products that customer was quoted and making a record that they have purchased them. So, its all about products, quantity, prices and term length.
Add-on Quotes and Orders – Customer has come back midway through the term and makes changes. For example, a company is expanding and they want to add on more licenses for their software they had already purchased. So, this is where contract amendment comes into play. It takes us all the way back to the new opportunity, quote, choosing products, pricing, discounting, generating documents and signing them. For any functions that requires an add-on to an existing code or an order, this is where add-on quotes and orders comes in.
Renew Contracts – Sometimes when we have subscription products involved we are going to have contracts expire and customers need to renew them. So, this is where renewing contracts comes into play. Salesforce CPQ will generate renewable opportunity and quotes in this case.
The conclusion of CPQ process flow, its one of the fastest paths to optimize quote to cache and enter your customer sales cycle is on the single platform which makes it easy.
Configuration – CPQ systems guides the user through the process of selecting the right product for a customer. The typical question here is what products does the customer want to buy?
Once the product is selected further information may need to be captured in some cases. The business and technical rules may govern the combination of products that can be sold together.
Pricing – CPQ system formalize the pricing ensuring that the sales reps are always quoting the current products at the relevant and the current price.
CPQ system also provides the mechanism to tackle complex pricing calculations without a calculator a desk or a pen and a paper. Some products can be sold at list price in companies and CPQ system offers a variety of discounting mechanisms for them ranging from system applied volume-based discounts. For example, when a customer buys a certain volume of a product and you want to give them a discount or like a pre-negotiated discount. For certain customers because of their special relationship, we want to give them a 10K negotiated discount to a discretionary line level or a quote level discounts. So, all this can be done automatically and the good thing is we can also have approval process implemented to capture an undesirable discounting behavior. A lot of this happens in the background while we are configuring the product and preparing our quote.
Quote – Once we have the product selected, configured and priced it is time to present a quote to the customer. CPQ solutions quickly merge customer, product and pricing information into a predefined document template to produce a professional and consistent branded quotes and proposals. We can also build reusable template content like having terms and conditions included any other legal classes and include them as sections to the quote documents.
CPQ systems can also integrate with e-signature solutions to further speed up the deal closure.
Salesforce CPQ helps the sales team of an organization to get the effective and faster results by making their work easier. Ides Trainings offers Online, Corporate, Classroom trainings and Virtual Job Support to anyone, anywhere, based on design, business, tech and more. We impart latest and best possible technology backed professional training for all our students. We provide the best Salesforce CPQ training by our real-time experts. To know more about our trainings, contact to the information provided.
Frequently Asked Questions (FAQs)
1. What are CPQ tools in Salesforce?
CPQ salesforce or Configure, Price, Quote software by salesforce is a sales tool for companies to provide accurate pricing with any given product configuration scenario.
2. Does salesforce CPQ require coding?
No, salesforce CPQ does not require coding knowledge.
3. What does Salesforce CPQ allow you to do?
CPQ is a sales tool for companies to quickly and accurately generate quotes for orders.
4. How long does it take to implement CPQ?
It can take up to 16-24 months to implement a traditional CPQ like Salesforce CPQ for medium to large sales teams.
5. What is the difference between quote and opportunity?
A quote is both the document you give the customer and the electronic record of quote data. Your opportunity is where you go to create a new quote. You can create many quotes on that opportunity, but only one can be your primary quote.