You need time to look for new opportunities and grow your business, so time is one of your most valuable resources. However, without the assistance of configure, price, quote CPQ software, a great number of manufacturers still waste time taking orders directly through a sales representative. Consider this illustration of a typical procedure for quoting:


You are in charge of a small, privately held company that makes specialty delivery vehicles. A company calls to inquire about placing an order for ten trucks for their fleet. Your representative walks the customer through each option and explains your capabilities.


The representative then communicates with the engineers and machinists on the manufacturing floor to create a bill of materials (BOM). Your team can only determine whether they can meet the customer's requirements at this point.


Naturally, someone needs to record all of the information, figure out what customizations are needed, and apply those pricing rules to the quote as this process goes on. After so much, it could require days to produce a statement at last.



How does CPQ software Respond?


Quotes and orders for configurable products are generated and processed by manufacturing businesses using online CPQ software. By automating repetitive parts of the ordering process, this quoting solution frees up your time to focus on your customers. It also connects your internal systems, giving you visibility to quickly make decisions about order requests.


Let's take it apart one component at a time:


CONFIGURE: The first process that CPQ software takes over is the configuration of brand-new, highly customized products. Products that are tailored to the specific needs of customers are becoming increasingly popular, and they want them now. Because of this, a lot of manufacturers have decided to stop making the same, mass-produced goods over and over again.


The industry, on the other hand, is moving toward mass customization. The most innovative manufacturers are able to produce individualized goods quickly and effectively. This really can only be done with a sophisticated CPQ solution.


PRICE

Pricing may be straightforward if your products are offered in standard configurations with little variation. Even if you have never completed an order with that configuration before, you still need to be able to arrive at an accurate price as quickly as you can if customers are coming to you with their own specifications.


A CPQ solution's automation capabilities shine most brightly when it comes to pricing. The BOM's characteristics, production costs, optional features, or any combination of those factors can all be used to determine pricing. Because an eCommerce platform for VARs with a built-in CPQ solution uses a pre-generated rule set that automatically determines how an order should be priced, all of this can be done accurately across market segments, geographies, and sales channels. Human error is eliminated from the process because each pricing rule can be applied automatically.


Likewise, you can add markdown endorsement work processes, rebate structures, favored client valuing, and variable value books to your standard set to guarantee you're expanding income and proceeding to customize the purchasing venture.


QUOTE


All of this adds up to giving your customer a quote. The goal is to create an exact statement as soon as possible, placing yourself steering the ship to make the arrangement. Nailing this last stage can likewise assist you with abstaining from re-trying work and managing client returns down the line.


First, a CPQ solution offers extensive configuration options and precise pricing to create a quote for your customer to review and consider. It's time to think about the presentation after you've worked out the finer points.


Because professionalism never hurts, CPQ application helps you create a formal document that you can give to your customer. You are aware that this information will be complete because you have already gone through both the configuration and pricing stages. Your quoting documents will also be clear, simple to read, and accessible to all of your customers with the right CPQ solution.


The best CPQ software lets you visualize your products in two dimensions and three dimensions prior to their production. The customer will have a better understanding of what you are offering if you use visualization, allowing them to make changes before production begins. Because your customers will know that what they see is what they get, this will build customer loyalty over time.