what is cpq in salesforce

CPQ stands for Configure, Price, Quote, and it is a sales tool that helps companies provide accurate pricing for any given product. CPQ software is used to configure complex products and create quotes for customers, and it is fully native to the Salesforce platform. Salesforce CPQ delivers automated sales quoting with out-of-the-box capabilities like Guided Selling and Pricing and Discount Schedules. CPQ software generates quotes quickly and is accessed by the sales team immediately based on the customer’s requirements. CPQ helps sales reps sell the right product combinations, control discounting, and automate approvals, which means that sales reps spend more time selling and the company leaves less money on the table. CPQ software can help businesses automate the creation of quotes and proposals for their products and services, and it can be used to quickly create accurate quotes. CPQ software can also help increase savings and revenue, reduce time for compiling complex contracts, free up quality time of sales representatives, grow revenue steadily, increase data visibility and accuracy, enhance customer experience, and increase deal values.