The podcast details how to use the Product Workbench, a tool designed for product managers to intuitively define and manage products and services in Oracle CPQ (Configure, Price, Quote) and Oracle Sales. It provides a product-centric view of pricing data, allowing for easy setting and editing of pricing across different conditions, defining contextual pricing, and creating multiple charges per product under various circumstances. Key features include the ability to view and manage pricing plans and charges, view detailed product information, edit configurations for products with optional items, and seamlessly integrate with Oracle Sales and other Oracle Fusion CRM systems. The podcast also outlines the steps involved in enabling the Product Workbench, adding rate plans and charges, and creating BOM (Bill of Materials) configurators.