What does CPQ stand for in Salesforce?

CPQ in Salesforce stands for "Configure, Price, Quote." This term integrates three essential aspects of the sales process in a single solution, allowing sales teams to efficiently create accurate and tailored quotes for their customers.

The "Configure" aspect relates to the ability to customize products or services based on specific customer requirements, ensuring that all configurations are aligned with what is available and permissible. "Price" refers to determining accurate pricing based on selected options, discounts, and specific pricing rules, enabling transparent and consistent pricing strategies. Finally, "Quote" emphasizes generating formal proposals or quotes that can be shared with clients, streamlining the approval and sales processes.

By combining these elements, Salesforce CPQ helps organizations simplify and speed up the quoting process, enhancing productivity and improving customer satisfaction. This comprehensive approach to sales quoting distinguishes CPQ and clearly emphasizes its value in the sales cycle.