‘It takes too long to get a detailed RFQ! Your competitor quotes within hours instead of weeks.’
If this sounds familiar to you, then you need to re-evaluate your sales processes - urgently. Yes, a good product or attractive price for a manufacturing solution can help you close a quick deal. But ultimately customer satisfaction - even within the quoting phase - will define whether you retain them and get referral business. According to Zendesk, 62% of B2B customers purchased more after a good customer service experience, while 66% stopped buying after a bad customer service interaction. Which side would you want your business to be on?
We understand that it can be tough to manage customer requests, especially in the Manufacturing Industry, where the tiniest detail can completely change the product modelling required. A request for changes in the RFQ can easily cause delays and lead to either inaccurate quotations submitted on time, or accurate quotations submitted past the deadline.
How does Configure-Price-Quote (within SAP C4C) help you to negate these complaints? Here are three methods:
CPQ Helps You Create A Quotation Quickly
When it comes to the nitty-gritty details, it can be easy to miss out a nodule or two while typing in the different items. Complex product modelling can also cause specific requirements that would differ from a standard quote. By the time all engineering details are confirmed, the supply costs and pricing might then have changed dramatically.
By integrating with SAP CRM and ERP, CPQ forms the bridge for this data to be captured and combined. You can create your quotation easily within the CPQ, with data that is pulled from both, your front end C4C and SAP ERP. A reasonable Configure Price Quote solution allows you to add discount percentages that will reflect in the final price, with automated approval barriers, if necessary. Completed quotations can also be exported in the format you require, including all the documentation and T&Cs needed. Reducing the Time-to-Quote (TTQ) from weeks to hours will have a tremendously positive effect on your cost of sales.
CPQ Helps You To Quote More Accurately, And In More Detail
Good old Excel can only do so much. Manufacturing quotations are complex, with dozens or more items of different quantities, materials, sizes, prices, and configurations. Having silo-ed frontend and backend systems will result in a high degree of errors made, since you must create it manually (or check it manually) to ensure accuracy.
A suitable CPQ system should erradicate this problem. As a cloud-based solution that connects to your data in SAP ERP in real time, you can be sure that the quoted details are up-to-date. CPQ also pulls from SAP ERP to incorporate product detail and itemisation into your quotation, hence reducing the need for you to type in the product description for the millionth time. An accurate quote is a quote that does not only make your customer happy, but will also help you save on all those error correction costs.
CPQ Can Help You Manage Requests More Efficiently
All customers make requests, but in Manufacturing, one small request can result in exponentially larger changes, which lead to more delays. In the above-mentioned Zendesk study, the most important factor cited by participants for a good customer service interaction, was a quick resolution of the problem.
CPQ makes your past quotations easy to access, and easy to change. You can quickly refer to past versions, copy from previous quotes and make edits to accommodate requests. Pricing and configurations will update automatically as you edit, and you can then quickly come up with a new quotation to send out. Again, your customer's satisfaction plays a major role in the sales process, but keeping the costs of sales low and sales reps on task to building good and lasting relationships is what drives your business success.
A CPQ solution will help you to efficiently and effectively manage complex costing and configurations whilst streamlining the entire sales process. Empowering your sales reps to make your customers happy, whilst saving money on the costs of sales, means that you are a leap closer to your revenue goals.
Do you want to learn more on how a CPQ solution can help you with that? Watch our 2-minute video!