Salesforce CPQ supports a Contract Renewal process. That means that CPQ can generate a Renewal Opportunity and Renewal Quote based on the current Contract and its Subscriptions and can act on prices of the renewed products.
How to generate renewal records?
In order to generate a Renewal Opportunity only, the User or an automation, needs to check the Renewal Forecast checkbox on the Contract. Salesforce CPQ will trigger the creation of Renewal Opportunity and its Opportunity Products. By having that we are able to forecast the future potential revenue resulting from renewals.
In order to generate the Renewal Quote, the user or an automation needs to check the Renewal Quoted checkbox. In this case Salesforce CPQ will generate Renewal Opportunity (if not yet existing) and Renewal Quote with Quote Lines, resulting from the relevant configuration.
What is a Renewal Pricing Method?
While creating Renewal Opportunity & Renewal Quote, Salesforce CPQ can act on the prices related to the renewed products.
There is a field called Renewal Pricing Method on the Account object, which drives the pricing behaviour. The following options are possible:
| Value | Description |
| Same | The prices for renewed products will be the same as they were for the original Contract. |
| List | The prices for renewed products will be read from the Pricebook associated with the Renewal Quote. |
| Uplift | The prices for renewed products will be uplifted by the defined %. The % value can be set on the Contract or on the Subscription record. |
You can read more here: https://help.salesforce.com/articleView?id=000315001&language=en_US&type=1&mode=1
And here is a short article about renewal pricing as well: https://sf9to5.com/2019/02/19/cpq-renewal-pricing-method/
