What is CPQ (Configure, Price, Quote)?

Hi everyone. I'm Kylie Fuentes and I run the product team for CPQ here at Salesforce. There's two questions I get asked most often. What is cpq? And why would I need it? CPQ stands for configure, price and quote. It's an extension of your CRM that allows you to create structured and scalable sales processes. CPQ makes sure that your reps sell the right product combinations, and it also controls discounting and automates approvals. In short, it means your sales reps spend more time selling and your company leaves less money on the table. So why is CCPQ important? Here's three reasons. First, CPQ helps sales reps close deals fast. Many sales teams are stuck relying on spreadsheets and email when it comes to the final stages of their sales cycle. Which means instead of moving on to their next deal, they waste hours trying to figure out how to price a product or chasing down a contract approval. But CPQ changes all of that. Reps get their own deal, making canvas to speed up even the most complex quote. Reason number two. CPQ gives companies control and visibility over what's being offered and what's being sold. Without it, many sales teams operate under chaotic scenarios, sending out pricing that isn't approved and promising products that no longer exist. It becomes nearly impossible to accurately track and analyze or forecast when data is siloed in spreadsheets. CPQ puts guardrails in place, moves sales teams away from all of that. Finally, CPQ enables you to launch new revenue models. Today's customers demand more flexibility in how they buy, and companies across all industries are responding by introducing new revenue models. But in order to do so, they need to implement technology platforms that support them. And spoiler alert, CPQ does just that. Feel free to go to Trailhead to start learning more, or you can browse our YouTube channel for more specific demos and information about CPQ. Thanks for joining. I'm Kylie Fuentes. See you next time.