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Give PEACE a Chance with CPQ Solutions

Peace with CPQ

In the manufacturing realm, where precision, speed, and quality reign supreme, a transformative force is bringing PEACE to the world’s shop floors and factory lines. It’s called Salesforce CPQ, and it’s not just an acronym: It’s the catalyst for operational success. 

Around 83 percent of companies enjoy some peace of mind by using CPQ. In the CPQ space, PEACE means companies can experience marked Profitability via Efficient processes with unprecedented Accuracy. Taking the guesswork out of inventory and sales management also leads to more consistent Customer experiences and Easy-to-customize automated CPQ features. 

From creating perfectly tailored products to optimizing pricing strategies, CPQ is the secret ingredient that manufacturers embrace to paint a brighter and more prosperous future. Let’s explore five chaos-busting benefits of using CPQ solutions that help your sales team drive an intuitive manufacturing operation and achieve PEACE. 

1. Profitability

When it’s up to the salesperson to quickly navigate the complex and constantly fluctuating pricing configurations of the manufacturing process, errors are almost inevitable. Inaccurate manual quotes, pricing discrepancies, botched approval procedures, duplicate or erroneous data entries, and the manual handling of billing and invoicing all point to one thing: a substantial loss of both time and revenue.

Fortunately, integrating a CPQ solution can efficiently automate these fluctuating and time-consuming tasks, which empowers your sales team to concentrate on the income-generating aspect of the business: sales. 

Furthermore, a CPQ solution can decipher real-time data comprehensively and deliver it in user-friendly, mobile-accessible, consolidated dashboards and reports for in-depth analysis. Say hello to more efficient processes. Namaste! 

2. Efficiency

The initial sales process starts with a conversation with your customer and ends with a proposal you can agree on. The time it takes from the first touch to the quote makes all the difference in a closed deal or a missed opportunity. 

A recent Salesforce study found that implementing CPQ resulted in a 40 percent increase in quote generation speed and a 26 percent reduction in invoicing errors. Additionally, it contributed to a 28 percent increase in upselling. When every second counts, automated quoting and invoicing are a game-changer in acquiring and keeping valued customers. 

The key behind CPQ is that it works with the last and most important part of the sales process: finalizing the terms and pricing. If coffee is for closers, then CPQ is brewing up venti-sized deals faster and with unprecedented accuracy. 

3. Accuracy

Don’t underestimate the impact of CPQ. It’s not just a tool for generating quotes—it’s a dynamic solution that streamlines the entire sales process, from configuration and pricing to manufacturing accuracy. 

  • Faster Quoting: CPQ automates the quoting process, enabling sales teams to generate quotes quickly and accurately. This speed in providing quotes can help close deals faster and move orders through the fulfillment process more efficiently.
  • Integration with ERP Systems: CPQ software can integrate with enterprise resource planning (ERP) systems, enabling seamless data transfer between the front-end sales and back-end order-fulfillment processes. This integration reduces manual data entry, minimizes errors, and accelerates order processing.
  • Enhanced Product Knowledge: CPQ solutions often include a product catalog with detailed information about products and services. This empowers sales teams and customers with better product knowledge, making it easier to select the right components and options during the configuration process.

Given that CPQ solutions automatically compute prices according to user-defined guidelines, the likelihood of human inaccuracies in manual price computation, data input, and quote creation is significantly reduced. 

4. Customer Experience

Around 83 percent of sales professionals rely on CPQ to streamline operations. It’s a strategic move, considering that almost 90 percent of customers will switch to a competitor if they encounter a less-than-stellar experience from a business. 

Manufacturers uniquely navigate a wide range of customer relationships. With agents, distributors, supply dealers, and retailers, there are plenty of service inroads to nurture before the product even reaches the final customer. To maintain these relationships, a positive customer experience requires more than offering a quality product at a fair price. 

“Manufacturing companies can gain a competitive advantage in the current business landscape by giving priority to customer experience. By doing so, they can differentiate themselves from their competitors, increase customer loyalty, and generate higher revenue and profitability,” says Haituk Patel, CEO at Ultrase Advisors.

It also depends on how easy your teams are to work with at every stage of the buying journey. “By placing customers at the core of their business strategy, manufacturers can cultivate a loyal customer base that will help them flourish in the long run,” Patel adds. 

The Salesforce CPQ solution helps your sales team connect the dots at every strategic stage of the pipeline while gaining deeper insight into your complete customer base.

5. Easy to Customize

Working in large volumes with an array of customers—as is often the case with manufacturing companies—your customers may not be at peace with being treated like an invoice and little else. In fact, most customers aren’t. McKinsey research found that around 76 percent of customers get frustrated when a company doesn’t provide a personalized experience. 

One of the ways CPQ restores peace is its ability to make customizing functionality for manufacturing easy and efficient. This capability not only enhances the customer experience but also streamlines production processes. 

Of course, the recent drive toward artificial intelligence integration and machine learning methods transforms how companies like yours can effectively nurture the customer experience. These technologies can be employed for pattern recognition within existing data, allowing for the identification of various factors, including price, product configuration, and customer demographics and history. This, in turn, helps pinpoint new sales opportunities and optimize price quotes. 

Our expert team can evaluate your operations to determine which existing systems and platforms can integrate seamlessly with CPQ to enhance your processes with customized functionality for simplicity, accessibility, and scalability. 

The role of a sales team in a manufacturing organization is undeniably demanding. The pressure to meet customer expectations, provide precise quotes, monitor overhead costs and inventory, and ensure the accurate and efficient manufacturing of complex products can be overwhelming. 

In this high-stakes environment, CPQ solutions can be a beacon of tranquility, bringing much-needed peace to the sales team’s daily operations. By bridging the gap between sales and production, CPQ empowers sales teams with the confidence to provide accurate, feasible, and customizable quotes that can be seamlessly translated into meticulously crafted products and service.

Want to make PEACE with the CPQ experts at Thunder? Contact us today to get started!