With the new year approaching, it’s important to not only look forward to the future, but also look back at the past year and identify things to be improved by learning from failures and pain points. This retrospective will allow for a plan for success by possibly altering out-dated technology and moving towards a more streamlined and efficient way of doing business.
If, in looking back, you see areas where you would like to adjust your quoting and sales process, or be more visual with your customers and dealers in the building of products, CPQ (Configure Price Quote) software should be your first thought. CPQ is a solution that helps organizations sell more efficiently, quickly, and more accurately. Whether these organizations are in the manufacturing or service industry, there are a multitude of pain points that an organization may experience which may lead them to weigh-in on some possible antidotes. If it’s your task to improve efficiency and perhaps you are aware of various tasks that can be done with better precision and ease, you may be thinking about tactics or sales tools that could help you and a CPQ may be your solution. Here are a few things you may be struggling with in your organization that may lead you to seek the help of a CPQ in 2015:
1 - Your Organization Is Sending Out Incorrect Quotes
Complex product configurations and pricing have your sales and engineering team spending much more time quoting than actually selling. Homegrown tools and processes may only make things worse for various reasons, for example sending out inaccurate sales quotes. When you send out incorrect quotes, you open the door for possible dismissal of your brand, product, effort and you are guaranteeing a longer sales cycle and you most likely are losing business in the process.
2 - Your Organization Depends On a Person to Look Over Your Sales Quotes Before They Are Sent Out
Time is of the essence; it’s money in all scenarios, but especially in the business sense. Whenever you have a process of doing things manually, chances are you are not only sending out incorrect quotes to potential customers, but you are also spending countless hours a week building and configuring these quotes. It’s safe to assume that these engineers, technical, and sales people were not hired to be a quoting machine, so the abundance of hours spent building these quotes are wasted when they could, and should, be doing something else.
3 - Your Organization is Using MS Word and Excel for Quote Creation
While MS Word and Excel are great to have for general document creation and financial tracking, they unfortunately have many shortcomings when it comes to quote generation. If you are currently using these programs, you are putting your business at risk in terms of accuracy and efficiency and those are vital to your organization. The template and formula creations needed to be made for each quote by looking up information from various price books can be very labor extensive, especially if your product prices change from quarter to quarter making you susceptible to error.
While these are just a few pain points that you may be experiencing that has lead you to seek out help, there are many more out there. Know that you are not alone in the search for a solution to make business life easier. Looking forward to a new year should include looking into incorporating a CPQ into your organization. A CPQ can help a customer visualize what product they want by building it in either 2-D or 3-D in real-time prior to the purchasing stage, integrate into a CRM (Customer Relationship Management) and ERP (Enterprise Resource Planning), create proposals, and help organizations who are wanting to go omnichannel. All forms of organizations are looking into and adopting CPQs, such as industries ranging from boat manufacturing, computer hardware to healthcare. If you would like to see our CPQ and eCommerce solution, EosCloudStore in action, please reach out to us so we can give you a demo and help you in achieving the goals of your 2015 and beyond!