Launching CPQ for Zoho CRM! An in-built solution for bespoke quote management

Launching CPQ for Zoho CRM! An in-built solution for bespoke quote management

Hello everyone, 

We are thrilled to announce the public release of CPQ (Configure, Price, Quote) for Zoho CRM, which is a fundamental block in sales management.
NOTE: CPQ was a public early access feature from March 2023 — January 2024.
Since February 2024, this is a public feature.

What is CPQ?

CPQ stands for Configure, Price, Quote. In simple words, CPQ is a software application designed to enable sales teams to create bespoke, accurate quotes for their customers, efficiently and quickly. CPQ is especially valuable when you have multiple product lines or service categories which involve dynamic pricing.

Why CPQ?

One of the biggest challenges sales teams face while navigating a sales process is the awfully long sales cycles for a specific deal. Now there could be many reasons for this length— the high value of the products could genuinely need that time. Or there are several stakeholders in the decision-making process, so that could consume a good amount of time. In such cases, having done their best, sales teams probably have to wait. But if the delays are attributed to delays or inefficiency with internal processes, then it is completely in the organization's control to identify and improve those systems.

Quote management is one such area where there could be undue delays due to which the sales process can take longer, or at times be unsuccessful. When you spend a lot of time and energy nurturing leads and converting them to opportunities, you need to ensure that when you reach a negotiation stage, the relevant quotes are also accurately drafted in a timely manner and sent for review, to close the deal promptly. Delays or inefficiency here could potentially cost you the entire deal.

Depending on the organization's processes, product lines, and pricing models, this stage can be very challenging and even complicated for some sales teams.

Consider cases of products sold along with specific accessories for free. Or the case of annual discounts and special offers. Every time a salesperson drafts a quote, they need to check the latest applicable offers, discounts, product combinations, and create an accurate quote for the customer, who is by the way still waiting for the quote after their deal was confirmed. In this process, manual error, red tape in processes, and lack of knowledge transfer within sales teams regarding updated prices and products could lead to serious delays in sales quotes and also make them inaccurate. As a result, the customers get frustrated, and this in turn prolongs your sales cycle.
In order to help this scenario, you need an effective CPQ engine, in other words, a solution called Configure, Price, Quote, in order to help you with bespoke quote management.

We are happy to announce the public release our own in-built CPQ system for CRM. With CPQ's line item automation, you can create timely, accurate quotes effectively. You can also upsell and cross sell with automated product suggestions in the CPQ engine and have all these data and possibilities inside your CRM system, contextually

Following are the rich feature sets of CPQ for Zoho CRM.

  • Configure the auto-addition of associated products in a quote upon the selection of a primary product.
    You can also mark a product as free while doing so.
  • Invoke product suggestions to a sales rep while creating a quote for effective upsell/cross-sell.
  • Apply direct or volume based list price/discounts on product line items automatically using price rules. 
  • Auto-update the quantity and price of secondary/associated products based on primary product.
  • Build your own interactive product recommendation system using Guided Selling.
  • Apply CPQ rules for any custom module or sub-form within a module. In case you are maintaining your quotes in a different module called Estimates, or you also want to apply CPQ for Invoices, you can do so.
Let's understand the capabilities of CPQ for Zoho CRM with the example of Zylker Watch Associates, an organization that sells a range of wall clocks, wrist watches and smart watches.

Product Configurator and Price Rules:

Here is a quick simple example to understand how price rules and product configurator can be applied for Zylker's scenarios.
— When a customer purchases a specific kind of expensive wall clock, a wristwatch set is offered for free.
— Besides, a year-end discount rule based on the purchase date will also apply a 20% discount on the list price of the wall clock.



Learn more>> How CPQ works

Dynamic quantity update for automated line items.

When multiple products are sold together, regardless of whether the secondary products are for free or come with a price tag, you need to define how many units of the secondary product need to go with the primary product.
 
In the case of Zylker Watches, consider the same scenario where a wristwatch set is offered for free upon the purchase of a wall clock. Now what if in a single order, 5 wall clocks are placed? Then, according to this plan, five sets of wrist watches should be added for free.

So the free product's quantity should "dynamically" change in the quote, based on the primary product's quantity. In this case, the formula to calculate the same would be, "Primary product's quantity * 1".

 
This is also possible in CPQ. You can also specify an absolute number or a dynamic value in the rule.


Building CPQ rules for custom modules and subforms

CPQ's product configurations and price rules can also be created for custom modules and custom subforms. Assume that Zylker Watch Associates is maintaining their quotes in a custom module called Estimates. Also, consider that in a different scenario, their price quotes are structured to include Primary Product items as the first sub-form and the Accessories as the second sub-form.

With CPQ's extended support for custom modules and sub-forms, they can now dictate automated product addition, suggestion, and price calculations on both these sub-forms in this custom module called Estimates.

Guided Selling

With CPQ's Guided Selling, you can create your own tailored and interactive product recommendations based on the unique needs and preferences of each customer, thereby enabling sales people to choose the most relevant products for them and create accurate, tailor-made quotes instantly.

In the case of Zylker Watch Associates, let's say a customer Leota is on the phone with a sales rep and is looking for a wristwatch for herself. Leota is quizzing the sales rep on the watches available, however the sales rep finds it difficult to narrow down to the particular product that would suit Leota's preferences. In this case, let's see how Guided Selling effectively helps the sales rep with recommendations based on the customer's preferences. Note that you can build this recommendation system yourself for your organization with CPQ's Guided Selling. 


 
So with CPQ's automated product addition, suggestion, price calculation, dynamic quantity update, guided selling setup, and flexibility to apply all these configurations to any custom module or custom subform, makes your quote management process greatly efficient and in turn accelerates your sales cycle and processes.

Roadmap:

We are constantly working on building the CPQ capability in Zoho CRM in order to maximize your experience. Here are a couple of key improvements that are on our roadmap for CPQ.
  1. Sandbox support — You will be able to setup product configurations and price rules in Sandbox before deploying them to the production environment.
    Tentative ETA:  End of Q2-2024
  2. You will also be able to build Guided Selling for custom modules aside from Quotes.  
    Tentative ETA: Q3-2024
To learn more, visit the following documents on CPQ: 


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