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What is Configure, Price Quote Software?, Pain Points and Benefits
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What is Configure, Price Quote Software?, Pain Points and Benefits

What is Configure, Price Quote Software?, Pain Points and Benefits
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Responding to customer RFQs is a core business process for High tech, contract manufacturers and in many configurable products business. According to executives and managers, the quoting process can make the difference between winning or losing a desired customer, and being on one side or the other of that razor-thin profit margin.

To speed up and improve these processes, Configure, price quote software accesses and integrates data from a full spectrum of enterprise resources. It leverages your existing investment in IT and brings together structured and unstructured information to deliver unparalleled levels of responsiveness and accuracy to your quotation process.

Configure, Price Quote Software transforms your quote development process from a routine activity into a strategic asset and competitive advantage. In short, it helps you turn quotes into profits. This addresses the integration of complex sales, costing, and procurement process. This enables this process with disparate back-end systems and gives users the flexibility to create a fast and accurate quotation without having the prerequisite of maintaining back end master data.

You may like to read: Top Configure Price Quote (CPQ) Software and How to Select the Best Configure Price Quote (CPQ) Software for Your Business

What are the Pain Points Categories in CPQ?

Configure, Price Quote software helps companies turn quotes into profits. For most manufacturing companies, the quotation process can make the difference between winning or losing a customer and being on one side or the other of the razor-thin profit margin. Quoting too high affects the company’s ability to secure new business. Quoting too low hits directly the bottom line.

In either case, companies typically leave money on the table by not being able to better estimate internal and external costs. Configure, price quote software provides the solution to this problem by enabling companies to win more profitable business based on more accurate quotes.

What are the Pain Points Categories in CPQ

What are the Pain Points Categories in CPQ

Geographical Pain Points in CPQ

  • Distribution of quote teams
  • Different costs per manufacturing location
  • Different technologies and tools are used in different locations

Systems caused Pain Points in CPQ

  • Heterogeneous environments and different IT platforms
  • Maintenance of home grown solutions
  • Integration requirements for complete solution

Business Process related Pain Points in CPQ

  • Accessibility of relevant and most recent data
  • Data may not be maintained in systems based to lack of technological infrastructure and attractive work environment
  • Communication disruption due to lack of collaborative Environment

You may like to read: Top Configure Price Quote (CPQ) Software and How to Select the Best Configure Price Quote (CPQ) Software for Your Business

What are the Challenges in Quotation Management Today?

What are the Challenges in Quotation Management Today

What are the Challenges in Quotation Management Today

  • Information is distributed in many functional silos and therefore often not accessible in a sufficient matter
  • Time wasted by not having a common platform to interact
  • Visibility of relevant quotes is not given
  • No integrated system landscape to support efficiently
  • Bridges the gap between sales, product costing, and procurement in a heterogeneous environment
  • Supports team work, reduces quote preparation costs, and compresses cycle times
  • Supports customer and supplier collaboration and increases quote quality

What are the Benefits of Configure, Price Quote Software?

This is a solution designed for Contract manufacturers to improve the quality and accuracy of their quotations, while also shortening the turnaround time, thereby increasing their quotation win rates.

Configure, price quote software is designed to streamline the quoting process for Electronic Manufacturing Services (EMS) providers / contract manufacturers. The acquisition of revenue through responding to customer Request for Quotations (RFQs) is a core business process for those companies. As practiced today this process is extremely labor intensive, error prone and challenged by not having the technical capabilities in place to access relevant information in a fast and easy way.

What are the Benefits of Configure, Price Quote Software

What are the Benefits of Configure, Price Quote Software

  • Speed up your quote response time by optimizing the quoting process
  • Reduce effort per customer quotation
  • Hit the quotation deadline in time
  • Have time for more evaluations to improve quotation quality
  • Become active instead of reactive
  • Submit more accurate quotations to your customers by being able to better estimate internal and external costs
  • Do not win deals with no margins
  • Accelerates the quotation response time and optimizes the quoting procedure by providing a common quoting platform.
  • Improves the quotes accuracy by automating data extraction from previous quotes and internal data records, at the same time allowing to spend more time on data validation / optimization before submission
  • Allows to focus on value add by cutting cycle times. Act instead of being acted upon
  • Higher Win Rates by identifying and committing resources to the most relevant opportunities
  • Increased Gross Margin and Profits
  • Better Response Capacity
  • Increase market share: Provides key planning and analysis capabilities necessary to address competitive threats while ensuring the correct sales strategies are in place to build and retain strong customer relationships.
  • Drive revenues: Delivers an unmatched, comprehensive view into pipeline and opportunity information providing complete visibility into prospect and customers history, milestones, key decision-makers, tasks, activities, products, competitors, progress and cross and upsell opportunities.
  • Reduce cost of selling: Provides rich sales effectiveness tools necessary to improving internal sales processes ensuring sales team productivity, effectiveness and shortened sales cycles.
  • Increase customer satisfaction: Richer customer interactions and multiple sales channel options ensure that customers receive a consistent and highly personalized interaction each and every time.
  • Increase sales team productivity: Provides rich sales effectiveness tools necessary to improving internal sales processes ensuring sales team productivity, effectiveness and shortened sales cycles.
  • Optimization of sales channels: Gives sales team members (regardless of role or location), partners and customers immediate access to all mission-critical information ensuring an integrated and consistent experience regardless of the sales channel used.

You may like to read: Top Configure Price Quote (CPQ) Software and How to Select the Best Configure Price Quote (CPQ) Software for Your Business

What is Configure, Price Quote Software?

Configure, Price Quote Software transforms your quote development process from a routine activity into a strategic asset and competitive advantage. In short, it helps you turn quotes into profits. This addresses the integration of complex sales, costing, and procurement process.

What are the Pain Points Categories in CPQ?

The pain points include Geographical Pain Points such as Distribution of quote teams, Different costs per manufacturing location: Systems caused Pain Points in CPQ such as Heterogeneous environments and different IT platforms, Maintenance of home grown solutions and Business Process related Pain Points in CPQ: such as accessibility of relevant and most recent data.

What are the Challenges in Quotation Management Today?

The Challenges in Quotation Management Today are information is distributed in many functional silos and therefore often not accessible in a sufficient matter, time wasted by not having a common platform to interact and many more.

What are the Benefits of Configure, Price Quote Software?

The Benefits of Configure, Price Quote Software include speed up your quote response time by optimizing the quoting process, reduce effort per customer quotation, hit the quotation deadline in time, have time for more evaluations to improve quotation quality, become active instead of reactive and many more.

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