[SalesForce] How to display Picklist Label, instead of Picklist API in a Formula Field

I think the title says it all, we are using picklist values having different Label and API Name. How can I display the Picklist label instead of API in when using a formula field. I know I can use IF statements and ISPICKVAL but is there a more dynamic solution, so that when new picklist values are added no need to edit the formula again.

Sample Picklist Values

Small Business – SAP_A

Medium Business – SAP_B

Best Answer

Unfortunately this feature does not seem to exist yet. Vote for this Idea:

Allow Picklist Value Labels in Formulas

Spring '17 brought "API Names" to picklist values so that integrations can use a "hidden" value (the API name) while users can see a local or more friendly value (the label).

Picklist Edit

However, there isn't a way to access the label in formulas.

Formula Options

So, if you want a formula to display the picklist's value somewhere else in Salesforce, only the API name will appear.

Formula Output

This will be confusing to users if you actually have different values for API name and label, as they may not be familiar with the API name. We need a way to access the value's label in formulas. SOQL has a toLabel() function, and we need its equivalent in formulas as well.

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