When it comes to the competitive world of manufacturing sales, there are two factors that can affect your quote-to-close rates: speed of response, and accuracy of quote. Let us look at the first point, one that can plague many manufacturers with complex configurations and calculations.
Sales is a tough job. They need to chase prospects or handle accounts, pitch products and solutions against competitors, and then negotiate prices to make the right person sign on the dotted line. This process itself can take weeks and often months.
Now imagine that your product isn’t one single item, but is millions of tiny pieces that make up one product. Or that your offered product doesn't even exist yet and you have to figure out how to best serve your customer whilst keeping profitability in mind.
In the manufacturing sector, an abundance of challenges are constantly on the horizon and forcing businesses to find solutions. No matter the country or the different stages of the business journey, manufacturing firms share almost identical pain points and most importantly, the need to retain their revenue. What are these pain points you may wonder and how can you alleviate them? I could list them all out for you but let’s stick to three.
Singapore Economic Development Board (EDB) recently released news regarding the Business Expectations of the Manufacturing Sector. Whilst these are generally on the positive end, we want to give you insights into how manufacturing businesses can amplify these effects via digitalizing their sales operations.
The manufacturing landscape has progressively changed and evolved through the years, with companies splintering off in different directions. The introduction of new and advancing competitors, the rising cost of sales coupled with evolving sales channels, leaves little room in the industry’s already dwindling margins.
In our last live-webinar, we helped attendees understand how a Configure, Price, Quote software could be a real asset for industries that are looking to boost their revenue in a sustainable way. With this series of articles, we wanted to share with you the webinar’s most valuable insights.
We started addressing the complexity of product configuration and how it hindered value creation in manufacturing industries. The second article was about the problem of pricing in Engineering-to-Order (ETO) and Made-to-Order (MTO) scenarios, which have a direct impact in margin and therefore revenue.
In this post, I will explain how our customers tackle their challenges involved in the input and approval processes before the quotation is sent to the customer.
Tags: Manufacturing Automation, Cloud Computing, Cost Effectiveness, CPQ Configure Price Quote, Manufacturing CRM, Profitability, Sales Automation, Cloud CPQ Express, Industry 4.0, Smart Manufacturing
Call it what you want - smart manufacturing, digital manufacturing or Industry 4.0, the end goal is an ingenious manufacturing method for a faster, smarter and better way of working. In the evolving landscape of this industry, companies must work towards reaching the expanding levels of smart manufacturing by utilising the potent combination of software, data analytic and Industrial Internet of Things (IIoT) to gain a competitive advantage. Due to the massive push towards digitising everything, manufacturers must learn to embrace the technology quickly or risk losing out to competition.
Last week we organized a live-webinar to help attendees understand how a Configure, Price, Quote software can be a real asset for industries that are looking to boost their revenue in a sustainable way. In this series of articles, we share with you the webinar’s most valuable insights.
Last week we organized a live-webinar to help attendees understand how a Configure, Price, Quote software can be a real asset for industries that are looking to boost their revenue in a sustainable way. In this article we want to share with you some of the most valuable insights from this webinar.
By the words of Vincent Van Gogh: “Great things are done by a series of small things brought together.” In the manufacturing world, these series of small things translate into large BOMs (Bill of Materials) and the "bringing together" can be called complex configuration.