Why Do I Need a Standard Price Book?

Want to track revenue effectively? Every B2B SaaS company leveraging Salesforce as their CRM needs a Standard Pricing Book to manage their pricing, potential contract value on Opportunities, track ARR, forecast, track renewals, and measure revenue-related metrics. 

In short, if your product has a price, you need a Standard Price Book.

How to Create a Standard Price Book in Salesforce

Think of your Price Books simply as lists of your products/services and their prices. *Like SKUs in a grocery store.* 

Note: Each individually priced piece of your B2B SaaS product should be its own Product in Salesforce. 

Creating a Standard Pricebook Step-by-Step

• Go to the "Products" tab
• Head down to the "Price Books" section
• Click "Add Standard Price" 
• Add the price of your product in the "list price" field

*Make sure you have the appropriate currency listed in the currency pick-list

Once you have a Standard Price Book, you can create a Custom Price Book (multiple).

TL;DR

A Standard Price Book is a fundamental part of Salesforce configuration and will be the foundation of all your revenue tracking. 

If you want to learn more about adding products to opportunities, check out this blog. And if you don't want to deal with building any of this yourself, our product can help. Reach out to our team to learn more!

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