Manufacturing companies face common production and sales challenges. These include increasing overall revenue, decreasing sales cycles, reducing production costs, and improving the supply chain. Manufacturers constantly look for ways to enhance sales and production. With the right CPQ for manufacturing, they can solve lots of problems.
While Enterprise Resource Planning (ERP) can optimize production and supply chain inefficiencies, CPQ manufacturing software is the best solution for sales teams. Sales teams can lose time, effort, and revenue if they don’t have a CPQ solution. Read on to learn about some challenges CPQ can solve for manufacturing companies.
It is important to meet each customer’s needs with competing manufacturers in every industry and product category. Customers expect quick turnaround and accurate quotes once they issue an RFP/RFQ.
Another expectation is prompt discounts, which may require sales reps to get approvals from their manager. Buyers do not want to wait for their approving managers to return from vacation within a few weeks. With CPQ software, a delegation assignment will allow approval rights transfer when a manager is absent.
Sales reps should have the ability to request a discount approval from their sales manager. This feature should also be part of the same CPQ software.
Sales reps should deliver a professional-looking proposal to customers or prospects right away. This can be a PDF, Word, or Excel document sent by email using CPQ software. Manufacturers should also provide customers with access to the same CPQ portal to create their products and view their quotations.Also read: 10 Top Android Apps For Personal Finances
A CPQ system that integrates well with backend ERP systems can help you fulfill orders seamlessly. Production teams plan for manufactured goods and ERP integration for actual orders. Therefore, CPQ solutions provide accurate forecasting data to help manufacturers prepare for the future.
Sales reps can quickly create complex products using SAP CPQ software. This software allows them to update and accurately price their products. In addition, the built-in exchange rate and market factor feature will enable you to model pricing for different markets and currencies.
SAP CPQ allows offering to cross-sell or up-sell prompts based on creating business rules for related products. Promotions can also be configured using different parameters to make relevant products visible for a specific time.Also read: Top 3 Lessons I Learned from Growing a $100K+ Business
Manufacturers must reimagine how they do business in modern times—selling and delivering products are not enough anymore. Instead, customers should be treated to an unforgettable buying experience by manufacturers. CPQ for manufacturing gives sales reps the chance to quickly and accurately present proposals to customers and prospects. As a result, they can focus on selling and closing deals.
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