How to Set Up Contracted Pricing with Salesforce CPQ

Do you need to assign unique pricing to specific accounts? In this demo video, you'll see how to easily set up and use Contracted Pricing from Salesforce CPQ.

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Video Transcript:
With Contracted Pricing from Salesforce CPQ, it's easy to assign unique pricing for specific accounts. This is especially useful when a customer wants to continue using a price negotiated during the initial quoting process, or if an account needs to inherit special pricing from its parent account. Let's take a look!

On this Salesforce CPQ quote, you'll notice that the list unit price of the first line item is $80, but the net unit price is $72 even though the user has not yet applied a discount. Because the customer has a contracted price for this product, Salesforce CPQ has applied the discount automatically. Contracted prices can either be created directly from the customer's account, or during quote creation.

Here are 2 ways to set up Contracted Pricing with Salesforce CPQ. First let's see how to enable your sales teams to generate a contracted price automatically while creating a quote. Navigate to the quote line object in setup and choose your desiered field set. From here simply drag the "generate contracted price" field into this field set. Now, when a sales rep is creating a quote, they can create contracted prices for select products based on their negotiations with the customer. Once the deal closes, the contracted price will be stored on the customer's account. Salesforce CPQ will use this negotiated price on all new quotes, renewal quotes, and amendment quotes until the specified expiration date.

Next, let's see how to create a new contracted price record directly on a customer's account. Navigate to the account object and select the account. In the related list quick links section, hover over “Contracted Price” and click new. Search for the desired product and enter a new price. You may also set a percentage discount instead of a specific price, which is useful if the price of the product tends to fluctuate. Then set the effective date field to determine when this pricing will begin. You can also include an expiration date for temporary price offerings. Contracted prices inherit the prices of their parent accounts, unless a related account has different contracted prices from its own parent.

By allowing you to create contracted prices during the quoting process or directly from a customer account, Salesforce CPQ gives you the flexibility to address every customer's unique pricing needs.