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Top 20 Salesforce CPQ Interview Questions With Answers For 2020

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Top 20 Salesforce CPQ Interview Questions with Answers for 2020

1) What does CPQ stand for? Explain what it is all about?

Well, CPQ stands for Configure Price Quote. It is a software tool which is widely used by the sales personnel. So basically with this tool, the sales executives within an organization will have an overall view of different aspects of a project quote and help them to reach to an optimum level when it comes to the price quote. All of this happens without any dependency on the other individuals.

2) What is QTC?
QTC stands for Quote to Cash and it is an end to end business process which start from generation of quote to receiving payments for customers.

Go through this Salesforce CPQ online training to get a clear understanding of Apttus CPQ!

3) What is APTTUS CPQ?
APTTUS CPQ is more one of leading CPQ services provides to clients which are provided by company named as APTTUS.

4) What is Product?
It is Product or services that can be sell to customer in as Standalone, Options and Bundle
• Standalone: It can be sold individually
• Bundle: two or more products can be sold as bundle
• Options: it provides additional choices for products to end users

5) What is more unique about this tool?

With the help of this tool, it gives the flexibility for the sales executives to work on the price quotes based on the latest approved pricing structures and discounting rules and approvals already predefined. So basically all these factors are taken into consideration while generating a particular price quote. All this can happen anywhere and right at their fingertips as on when there is a need. Thus making it a flexible tool and independent tool for all the sales executives within the organizations.

It not only makes your sales executives or officials life easier and efficient it also adds to the overall execution of the organization selling strategy.

6) What is QTC?
QTC stands for Quote to Cash and it is an end to end business process which start from generation of quote to receiving payments for customers.

7) What is Product Hierarchy?
Product Hierarchy is related to hierarchy of products which products are interlinked to another product

8) What is Product Attribute?
Product Attributes are related to features of a product like colour, weight, size and so on..

9) How does CPQ is actually closing your CRM system gaps?

Well, when it comes to CRM systems most of them do not cater the option or flexibility of automating their price quote processes and thus making life hard. With the existing CRM applications that are out in the market, it is difficult to automate the price quote process. Thus forcing the employees to rely on standard Microsoft Word or Excel. By following this process, the entire flow of quote generation is slowed down to a maximum extent. Further, they might not be 100% accurate and prone to unidentified risks.

Thus being said about the slow price quote process, it will further affect the next steps like having low win rates and also more obstacles to make from potential lead to a customer. Thus, ultimately affecting the revenue for the organization.

10) What are the primary factors that are usually encountered within an organization where it calls for a need of CPQ software?

The primary factors that are encountered within an organization where they see a growing need for CPQ software:

  • Extensive delays in quote creation process
  • Too many errors during the quote creation process or lot of loose ends
  • It was out of date product related information and the pricing structures
  • Doesn’t take opportunity about up selling or cross-selling platforms
  • Lack of sales process optimization or visibility to grow the sales channel

If you observe any of these challenges are actually bringing your sales team to under perform it is your responsibility to invest in a good CPQ software which helps you to be in a good position.

11) So what does ABO stands for in Apttus CPQ tool?

ABO stands for Asset-based ordering platform. S

12) Do we have any esignature process in Apttus CPQ tool?

Yes, Apttus DocuSign package can be integrated and thus enables the users to avail the esignature facility within Apttus interface.

13) What is an Audit Trail?

The Audit Trail function in Salesforce is useful for gaining information or for tracking all the recent setup changes that the administration has done in the organization. The audit trail can preserve data for up to six months.

14) How does CPQ software usage will transform the organization sales?

The following ways are the key aspects of transforming the organization’s sales, as follows:

  • Increase Speed
  • Eliminate Errors
  • Maximize Deal size
  • Provide accurate and updated information

15) What is search filters?
search filters help us to find results by using their field values. To find products, options we can use search filter based on their field values.

Become a master of Apttus by going through this online Salesforce CPQ training in Toronto!

16) What is Pricelist?
A. Pricelist store multiple prices of a particular products based on business flow.

17) Why does CPQ tool is considered as a modern-day utility tool for an organization?

It is considered to be a modern-day utility tool because it caters:

  • Offers a superior selling platform
  • Single source of truthful and worthy information about products
  • Targeted price quotes because of the customization
  • Incentives provided based on the product selections

18) Explain the Salesforce dashboard?

In Salesforce, the dashboard is a pictorial representation of the report. 20 reports can be added to a single dashboard.

19) Why does the CPQ tool help your sales executives with an Influencing behavior?

Well, it is a known factor that the more they sell the organization does make more profit from the sales so it is evident for the organization to actually invest in some sort of a tool which actually makes or inculcates a motivation. So one of such tool is nothing but CPQ, it does provide the right information about the product at the right time. Thus giving out a positive feeling for the sales executive and ultimately motivates him to do this over time.

Recommend reads here: Salesforce CPQ online training Hyderabad

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