Summary
In this chapter, you learned when and how to create contracts, amendments, and renewals. Several use cases can be configured using these out-of-the-box features.
This is a complex functionality in CPQ that will help you configure products for any specific business. Renewals are as important as your initial deals. Creating and negotiating renewals promptly will help generate a lot of revenue by up-selling. You have also learned how the contract-based renewal model helps in managing the recurring relationship with customers after the initial sale. You have also understood how to customize renewals and amendment processes. You have seen how accounts can be a single source of truth for contracts, amendments, and renewals. While CPQ manages all the record-keeping for amendments and renewals, reps can focus on closing more deals.
In the next chapter, you will learn about the CPQ data model and the object relationships for some of the major CPQ objects.