Taking advantage of transformational technologies is key to business growth. Yes, the old system works, but not without its many limitations. CPQ software is one of those technologies with the potential to improve productivity and maintain an efficient working process. If you have a manufacturing company, you’d undoubtedly make products for consumers.
The CPQ tool will help you eliminate complexities, bottlenecks and also reduce errors that come with a product’s variety, pricing, discount, etc. If you’ve not adopted CPQ, here’s an insight into how a CPQ solution can improve a manufacturer’s sales.
1. Automation of manual configuration process.
It’s the 21st century, and manufacturing processes are becoming easier thanks to technology. Many manufacturers now use a computer numerical control (CNC) or a CNC-compliant machine. Without these pieces of equipment, production will naturally slow down and make it difficult to meet production targets in your manufacturing process. What’s more, a CNC mill retrofit or conversion can bring the machine’s operation to top performance.
Similarly, using the old spreadsheet system of configuring sales quotes wastes time. What’s more, its manual nature of operation makes your salespeople open to committing more errors. Adopting a CPQ tool will eliminate the many chances of making mistakes when your sales team is generating customers’ sales quotes. The automation that comes with CPQ software makes tasks a lot quicker to execute and makes configuring process technically error-free.
2. You can focus more on selling.
If your manufacturing company is going to generate more revenue, your sales team should be more efficient. That won’t be possible if they can’t even focus on the selling process. The more time spent on creating proposals and building configurations, the less time they have to make actual sales.
A Configure Price Quote (CPQ) software eliminates these fiddly, time-wasting tasks, which further allows your sales team to spend more time closing deals with customers. When you can identify the available sales opportunities, you’ll meet up with more leads per day.
3. It offers error-free sales data.
If your manufacturing company can access accurate data of its past sales history, predicting or forecasting demand will be easier. The power of new accurate (or near accurate) sales forecasting will put an organization ahead of its competitors. One of the advantages of a CPQ tool is that it offers access to sales data. This way, you can feel confident when making future business decisions since the human error in the sales process has been eliminated.
4. You can offer faster quotes.
The offering of standardized products is on a fast decline. Invariably, this means that made-to-order offerings are essential. With customized orders, sales reps are faced with the challenge of not being able to generate quotes quickly.
You don’t need me to tell you how that can make you lose customers or potential sales. With A CPQ solution such as Configure One or Salesforce, for example, your quote-generating process speeds up. This way, customers that need to make fast decisions on a product will have swifter responses. Apart from more rapid quotes generation, your sales team will be under less pressure and will likely perform better.
3. You’ll achieve transparency.
When using a CPQ software solution, many of the processes are automated. This means, your sales team activities are not hidden in any way. Therefore, your manufacturing business will automatically have access to each quote made. Nothing is hidden, so there’s room for improvement and the closing of more deals. What’s more, you can easily identify your customers that generate the highest revenue. What’s more, most CPQ tools offer pricing or configuration with real-time sales reports.