Contracted pricing

Imagine you have sold a particular product to a customer for $100 and you want to keep that price on hold every time the customer renews the contract irrespective of any price updates in the price book. For this, Salesforce CPQ offers a feature called contracted pricing, which is set at the account level. Contracted pricing will help you to honor the initial deal price. To configure contracted pricing, navigate to App Launcher  Account  Related  Contracted Prices  New, which will open the screen shown here:

Figure 7.17 – Contracted pricing

Let's learn about a few important fields in contracted pricing creation:

• Product: Select the product for which this special pricing needs to be applied.
• Price: Add the specific price that needs to be applied to this product. If you remember the CPQ price waterfall diagram (Figure 4.13 in Chapter 4, Configuring CPQ Pricing), the contracted price comes...