Definition
In Salesforce CPQ, a quote record created for a new sales opportunity (as opposed to a renewal or amendment quote), containing product line items, pricing, and terms for a potential new customer deal.
Real-World Example
When a sales manager at TrueNorth Software needs to streamline operations, they turn to New Business Quote to optimize the sales process and give the team better visibility into deal progress. After configuring New Business Quote, reps spend less time on data entry and more time selling. Pipeline accuracy improves and the forecast becomes a reliable predictor of quarterly revenue.
Why New Business Quote Matters
In Salesforce CPQ, a New Business Quote is a quote record created for a new sales opportunity (as opposed to a renewal or amendment quote), containing product line items, pricing, and terms for a potential new customer deal. It's distinguished from renewal quotes (which automatically renew existing contracts) and amendment quotes (which modify existing contracts), with each quote type having different workflows and pricing logic in CPQ.
Distinguishing quote types matters for CPQ because the quote-to-cash process differs significantly for new business versus renewals versus amendments. New business quotes typically involve full configuration from scratch, custom pricing negotiation, and approval workflows for non-standard terms. Renewal quotes are often largely pre-populated based on the existing contract. Amendment quotes carry forward existing terms with modifications. Mature CPQ deployments handle each scenario with appropriate automation and approval flows, making the right tools available for each motion.
How Organizations Use New Business Quote
- •Cobalt Ventures — Uses New Business Quotes for prospecting new customer deals, with full configuration workflows and approval routing for non-standard terms.
- •NovaScale — Distinguishes new business from renewal and amendment quotes in CPQ, with different processes optimized for each motion.
- •TerraForm Tech — Tracks new business quote velocity as a leading indicator of sales pipeline health.