Salesforce CPQ offers multiple ways to set the Price on a quote line. We have the four pricing methods, discount schedules, ability for sales reps to add Additional Discounts and so on. However, real-life business scenarios often ask for more complicated logic. For example, we may want to automatically add a 10% discount if the Quote is tied to a ‘Gold tier’ partner. Now, we can always build workflows or process builders to make this happen but using these can potentially cause unanticipated updates through CPQ’s quote calculation sequence. To meet this requirement, Salesforce CPQ offers Price Rules.
Price Rules can insert a static value, field value, or summary variable into a quote or quote line field, based on specific conditions. Price Rule has associated Price Conditions and Price Actions to define when it should fire and what it should do, respectively. Price Rules can also set price based on a custom table setup in Salesforce using Lookup Queries.
We know that Price Rules are a very powerful tool in the Salesforce CPQ arsenal; and when we use the Lookup Queries functionality the power is turbo charged!
In essence, Price Rules using Lookup Queries allow you to map the data points on your Quote Line to data fed in a custom object, find a matching record with same values, and retrieve an associated field value from the matched record. For those who have used VLOOKUP function in MSExcel, this will throw a déjà vu. It is very similar to matching your cell values, finding the equivalent in a table and fetching an associated value on the same row but different column. Well, here it is more powerful as you can match the data on multiple fields to get the exact combination you are looking for.
So, where can we use this neat feature? Well, check out our Use Case blog here: