In Mind Cloud Blog

First To Quote, First To Deliver: The Need For A Manufacturing Sales Solution

Posted by Sabine Kempe on Apr 3, 2020 7:29:00 PM
Sabine Kempe
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When it comes to the competitive world of manufacturing sales, there are two factors that can affect your closure rates: time-to-quote, and the accuracy of the RFQ. Let us look at the first point, one that is a major problem for many manufacturers with complex configurations and calculations.

Usually, when a Request for Quote or Tender comes in, the first thing the sales team or Tender Manager would do is to understand the customer's requirements. A possible next step, is to consult any pre-existing product versions or configurations to see if they can be tweaked for this customer. After all, a rather comprehensive RFQ always requires the input of other stakeholders, let's say the engineering team or product managers, before a quotation can be churned out. After the quotation is sent out, the potential customer might request for changes or discounts, leading to further rounds of quote adjustments.


Would you like to try out by yourself how fast you can create a quote? Sign up for our free trial and browse different manufacturing vertical scenarios.


Slow response times equal lower chances of success

All the above factors result in an extended sales cycle, where further delays can occur at any point, which might cause the business opportunity to fall into a competitor's hand. The phrase ‘First to close, First to deliver’ becomes important here: The speed of response has a high business impact, as customers see quick and efficient customer engagement as an indication of the service they will receive if they sign the deal with your company. Slow response times, therefore don't just spoil your next deal, they can hit your company’s reputation, leading to less potential business.

So how can manufacturers increase their customer success and win rates?

Automation of the Quoting Processes

Quotation & Proposal automation aims to eliminate as much as possible from a sales person's tasks that doesn't involve relationship-building and direct interaction. It therewith reduces the cost of sales and other resources that might consume valuable time in the process.

A sales solution that is tailored to the manufacturing industry can help you to create an efficient and effective sales process..

A comprehensive sales platform provides all product, configuration, and pricing knowledge (even LO/VC models) from your ERP and combines it in an easy-to-consume system. It allows one consistent and uninterrupted flow from opportunity, over quote to order. 

It also fosters collaboration between the different stakeholders via dynamic workflows and approval processes, thus reducing the turnaround time once more. 

After the quotation is approved by all stakeholders, the sales team can then export it in the right format. Attaching relevant technical information, such as product data sheets or CADs and other quote documents happens at a few clicks. Quotes can even be sent out and signed via DocuSign. A streamlined quotation process ensures that your sales teams can send out more accurate, high-quality quotations quicker and thus lays the foundation for your company's growth.

 

Would you like to try out by yourself how fast you can create a quote? Sign up for our free trial and browse different manufacturing vertical scenarios.

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Sabine Kempe

Written by Sabine Kempe

Sabine is responsible for In Mind Cloud´s marketing. A cloud solution enthusiast at heart, she is dedicated to finding answers to customers' questions before they have even been asked.

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