Salesforce CPQ or Standard Quotes: Which Should You Choose?

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SALESFORCE CPQ OR STANDARD QUOTES
WHICH SHOULD YOU CHOOSE?
Docmation 2021
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Overview
In the B2B ecommerce marketplace,
repeat business is the primary revenue source,
which means a personalized customer
experience increases revenue and loyalty. And
one of the most crucial steps in the path to
increasing revenue growth is applying a tailored
B2B ecommerce strategy in the CPQ and billing
method for each client. The Empowering Your
Sales Force Its Not Just Automation, Its
Personal study by Accenture Interactive reveals
how 83 of sales employees use some kind of CPQ
tool to make their lives easier. Moreover,
according to Gartners Magic Quadrant for
Configure, Price and Quote Application Suites,
71 of people usually upgrade from a less
advanced and feature- loaded, basic solution to
a dedicated CPQ platform.
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One of the most crucial steps in the path to
increasing revenue growth is applying a tailored
B2B ecommerce strategy in the CPQ and billing
method for each client.
The Empowering Your Sales Force Its Not Just
Automation, Its Personal study by Accenture
Interactive reveals how 83 of sales employees
use some kind of CPQ tool to make their lives
easier. Moreover, according to Gartners Magic
Quadrant for Configure, Price and Quote
Application Suites, 71 of people usually
upgrade from a less advanced and feature-loaded,
basic solution to a dedicated CPQ platform.
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The results are quite apparent if we look at
Cincoms insights on CPQ-related business
outcome metrics.

• With 8.2 times greater margins in lead
  conversions, 7.5 times higher year- over-year
  increases in renewal rates, 1.6 times higher
  year-over-year decrease in errors, and 21
  better efficiency in generating complicated
  quotes in time, it is easy to see how CPQ helps
  businesses increase their revenue in ecommerce
  selling.
• As a result, Gartners projections predict a 20
  CAGR (compound annual growth rate) in CPQ sales
  throughout 2020, and possibly higher numbers in
  the future.

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Salesforce CPQ Billing
The Salesforce ecommerce integration for CPQ is
the leading one. It is the rebranded form of
Steelbrick billing that Salesforce had
acquired. There is a basic, in-built Salesforce
billing module called Salesforce Standard
Quoting. But for businesses with advanced needs,
this is usually not enough, and Salesforce CPQ
does a much better job for them. However, this
is not always true. We will compare the
scenarios in the next section.
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Salesforce CPQ Billing vs Standard Quoting
The features offered by Salesforce Standard
Quoting are
Standard Product and Pricebook
objects Introductory list pricing, discounting
and bundling features Standard Contract and Asset
objects Standard product validation Multi-currenc
y compatibility Basic quote document generation
Integration with e-signature tools A
drag-and-drop quote template editor Standard
approval process
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The pros of CPQ Salesforce are especially
apparent if any of the following apply to you

• ) I f You Offer Subscription Products
• CPQ for B2B subscriptions requires
  multi-dimensional quoting to ensure that the same
  statement can be reused every year, even with
  changes, without requiring new quotes from
  scratch every year. The Salesforce subscription
  billing features of its CPQ software support
  actions limited to recurring business like
  renewals, cancellations, and add-ons.
• ) I f Your Products Are Sold In Bundles
• While Salesforce recurring billing takes care of
  products sold over the years, there is also the
  situation where you sell specific products along
  with each other, i.e., in bundles. It includes
  cases where certain products must be bought
  together others cannot be grouped into a
  bundle certain products have upper and lower
  limits over the number or type you can buy, etc.

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If You Sell Products With Complex Price Rules
And Dependencies
Products can also have rules and logic
dictating what a specific product will cost
depending on what other products the business is
buying or buys. Tiered pricing and buying
history-based pricing is standard in B2B
ecommerce customer journeys. These are also
difficult to remember and manage.
Errors and inconsistencies can cost a company
precious business. The best way to avoid them is
through automated quotes in CPQ that consider
these rules after defining them once. With the
Salesforce billing software, this step is made
accurate, easy, and fast. Not only are sales reps
relieved, but customers are satisfied too.
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If Your Require Multi-channel Configure Price
Quote
If you sell a product that finds use in
industries with zero relation to each other, it
is natural for the rules and metrics to be
different too. Setting the right rules each time
becomes a tedious job and slows down the CPQ
process. In turn, the client also gets turned
off. But you can create custom objects for CPQ
in the Salesforce billing platform. Only by
using the right thing in the right place will
all the proper rules be automatically applied
for that sales channel.
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If You Provide Rule- Dependent Discounts

• If You Sell Through Partners And
• Distributors
• When your business sells through partners and
  distributors instead of directly to customers,
  product and price rules are bound to be far more
  convoluted. Renewals are also involved in most
  cases. There will inevitably be multiple
  contract start dates, warehousing needs, and
  shipping locations. All these must be reflected
  in the quote and contract.

• The ecommerce lifecycle of a B2B client
  inevitably involves discounts tied to loyalty
  and volume of purchase. The better your offers,
  the longer will a customer be hooked to you.
  Multi-year deals, tiered discounts, volume
  discounts, etc., are some of these types.
• Manually applying these will make the system
  heterogenous and partial, setting customer
  dissatisfaction and complaints up.

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