Here's a quick comparison to the regular Salesforce CPQ:
Industries CPQ vs. Regular Salesforce CPQ: Regular Salesforce CPQ is a general-purpose CPQ solution that can be used by any industry. Industries CPQ, on the other hand, is built specifically for Telco and Utilities.
In short, if you're a business in Telecommunications or Utilities looking to improve your CPQ process, Salesforce Industries CPQ (Vlocity CPQ) is a strong option to consider.
Let's delve deeper into each CPQ.
What is Salesforce CPQ?
Salesforce CPQ is a sales tool that helps businesses create accurate and customized quotes for their products and services. It goes beyond the basic functionalities of Products and Pricebooks in Salesforce by offering features specifically designed for the Configure-Price-Quote (CPQ) process.
Here are some key benefits of Salesforce CPQ:
Faster and More Accurate Quotes: It automates tasks like product configuration, pricing calculations, and applying discounts, leading to quicker turnaround times and fewer errors in quotes.
Guided Selling: Sales reps can leverage pre-defined workflows and prompts to ensure they capture all necessary information for accurate quotes, potentially increasing deal size through upselling and cross-selling.
Compliance and Approval Workflows: Salesforce CPQ can be configured to enforce pricing rules and approval processes, ensuring quotes comply with company policies.
Improved Sales Productivity: By automating manual tasks and streamlining the quoting process, Salesforce CPQ frees up sales reps' time to focus on closing deals.
Overall, Salesforce CPQ helps businesses improve the efficiency and accuracy of their sales process, potentially leading to increased sales and improved customer satisfaction.
What is Salesforce Industries CPQ (Vlocity CPQ)?
Salesforce Industries CPQ, formerly known as Vlocity CPQ, is a solution designed to streamline the Configure-Price-Quote (CPQ) process specifically for businesses in the Telecommunications and Utilities industries. It tackles common challenges faced in these sectors, like complex product offerings, ensuring order accuracy, and getting quotes out quickly.
Here's a breakdown of what Industries CPQ offers:
Industry-Specific Focus: Built for Telco and Utilities, it understands the specific needs of these industries and provides features tailored to their workflows.
Streamlined CPQ: It automates product configuration, pricing, and quoting, leading to faster turnaround times and fewer errors.
Improved Accuracy: With features like guided selling and validation rules, Industries CPQ helps ensure quotes are accurate and reflect customer needs.
Faster Time to Market: By streamlining the CPQ process, businesses can get quotes to customers quicker, potentially leading to more sales.
Key differences between Salesforce CPQ and Industries CPQ (Vlocity CPQ)
Focus
Salesforce CPQ: This is a horizontal solution, meaning it's designed to be industry-agnostic. It can be customized to fit the needs of any business, regardless of their industry.
Salesforce Industries CPQ: This is a vertical solution, specifically built for the Telecommunications and Utilities industries. It comes pre-configured with features and functionalities that address the unique challenges faced by these sectors.
Salesforce CPQ: Offers a wide range of features for managing the CPQ process, including product configuration, pricing rules, quote generation, and approval workflows. These features can be customized to fit the specific needs of your business.
Salesforce Industries CPQ: Provides all the core functionalities of Salesforce CPQ, but also includes industry-specific features, like Pre-built workflows for common Telco and Utilities offerings (e.g., service bundles, network configurations) Integration with industry-specific data models and standards Compliance features specific to Telco and Utilities regulations.
Scalability
Salesforce CPQ: Designed to scale with your business. You can add users, features, and integrations as your quoting needs grow.
Salesforce Industries CPQ: While scalable within the Telecommunications and Utilities industries, it might require additional development or integration work if your needs go beyond these specific sectors.
Integrations
Salesforce CPQ: Integrates seamlessly with other Salesforce products like Sales Cloud, Service Cloud, and Marketing Cloud. It also offers open APIs for integrating with third-party applications.
Salesforce Industries CPQ: Inherits the same integration capabilities as Salesforce CPQ, but may also have pre-built integrations with industry-specific tools and platforms commonly used in Telecommunications and Utilities.
Implementation
Salesforce CPQ: Requires more configuration and customization to fit your specific business needs. This can be a more complex process compared to Industries CPQ. Thus, partnering with an implementation consultant is recommended.
Salesforce Industries CPQ: Offers a faster implementation time as it comes pre-configured for Telco and Utilities. However, it may lack some flexibility for businesses with unique requirements outside of these industries.
Cost
Salesforce CPQ: Generally has a lower licensing cost compared to Industries CPQ.
Salesforce Industries CPQ: This may have a higher licensing cost due to its industry-specific features and pre-built functionalities.
Who should choose which?
Choose Salesforce CPQ if: You're in any industry other than Telecommunications or Utilities, or you need a highly customizable solution for a unique business model.
Choose Salesforce Industries CPQ if: You're in the Telecommunications or Utilities industry and want a pre-configured solution that addresses your industry's specific needs. You prioritize faster implementation over extensive customization.
Last Thought
Both Salesforce CPQ and Salesforce Industries CPQ are powerful tools designed to streamline your Configure-Price-Quote process. Choosing the right one depends on your specific industry and business requirements.
Here's a quick recap:
Salesforce CPQ: Ideal for any industry, offering flexibility and customization.
Salesforce Industries CPQ: Perfect for Telecommunications and Utilities, with pre-built features and faster implementation.
Consider these additional factors:
Scalability: How will your CPQ needs to evolve in the future?
Integrations: What other systems do you need your CPQ solution to connect with?
