How Does CPQ Benefit Specialty Vehicle Manufacturers?
Improve Product Configuration Speed and Accuracy
Reworks and configuration errors will cost you money now and customers later. By capturing product knowledge and allowing your experts to set configuration and pricing rules, CPQ removes variables that create delays in ordering and fulfillment.
Manual order entry is a thing of the past. With CPQ, salespeople can’t promise configurations that your engineers can’t deliver, and fewer people are needed during the sales process. CPQ software accelerates the ordering process and ensures that customers get exactly what they want.
Increase Visibility, Standardisation across Multiple Sales Channels
You need to implement successful, repeatable sales processes, but how do you do that across multiple sales channels? By consolidating product data into one location with standardised rules and pricing, CPQ provides everything salespeople need to close deals.
Having a single system for sales means you have a single system for analytics and reporting across networks, giving you the visibility to make the right decisions for your organisation and providing the omni-channel buying experience your customers demand.
Increase Margins and Revenue
By delivering a great customer experience and improving sales processes, CPQ enables you to hit revenue targets faster with improved win rates. Product configuration and pricing rules don’t just lock in sales margins; they also provide a framework for improved upselling, upfitting and cross-selling opportunities, increasing deal size and ensuring that customers have what they need. All of this adds up to greater ROI for your organisation and a better buying experience for customers.
Additional Resources to Simplify Your Most Critical Processes
Role-Based Product and Sales Configuration Solutions
How do you sell more, increase revenue and make sales quotas? You make it easier for buyers to buy and salespeople to sell. Here’s how Cincom CPQ empowers and enables your sales team:
- Increase visibility and consistency across channels and supply chains. Cincom CPQ gives you the ability to monitor and manage channels, products, margins and overall sales effectiveness so you can capture, standardise and replicate successes across your sales organisation, distributors and dealer networks.
- Improve margins and revenue. Cincom CPQ ensures optimal pricing on all configurations and allows you to better manage discounts, promotions and specials, so you’re achieving maximum margins and revenue on every deal and providing better buying experiences for customers.
- Improve product configuration speed and accuracy. Cincom CPQ allows you to manage exceptions, rather than the rule, so you can spend more time on high-value tasks, rather than reviewing and approving deals. This also means your customers can buy with more confidence and get the product they need with less hassle.
- Reduce time-to-quote; accelerate sales velocity. Automating pricing and quoting functions reduces time-to-quote, enabling you to close more deals faster and giving you advantages over competitors.
- Provide up-to-date, accurate pricing and inventory information. CPQ makes real-time pricing data available to the sales team and customers, so when orders are revised, changes are calculated on-the-fly and are immediately available to the sales team and to buyers.
How do you meet buyers’ very specific needs when your sales channels are all doing their own things? The short answer: you don’t. Here’s how Cincom CPQ helps you pull it all together:
- Turns salespeople into product experts. Cincom CPQ digitises hard-copy collateral and systemises tribal (expert) knowledge of products, making product knowledge and engineering expertise available at the point of sales engagement and improving cross-sell and upsell opportunities via guided selling.
- Reduce process variation across your operation. By providing requirements for model configuration, Cincom CPQ ensures accurate bills of materials (BOMs) for manufacturing. Different variations can be tracked and formalised in the quoting process.
- Reduce costs and execute lean. Cincom CPQ reduces real costs in terms of people, resources and processes, as well as implied or intangible costs in reworks and the ability to deliver the best customer experience.
- Minimise errors. Eliminate reworks and other costs associated with an inability to deliver as promised.
- Eliminate manual order entry. Eliminate the need to manually enter data into multiple systems. Free sales reps so they can concentrate on selling products and services to customers.
CPQ enables IT departments to focus on managing the technology your organisation relies on to do business, minimising the need for IT involvement in front-end sales processes. Here’s how Cincom CPQ helps IT create more value for the organisation:
- Improve transparency. Make data secure and accessible through APIs, meaning it’s up-to-date and readily available for mining and output, as needed, by different departments.
- Enable collaboration. Cincom CPQ provides a collaborative system for business users, eliminating sales-cycle bottlenecks and facilitating go-to-market processes across the organisation by integrating your sales office, back office and engineering knowledge into one application/solution.
- Simplify maintenance. Cincom CPQ allows for point-and-click, drag-and-drop maintenance of business, product and pricing rules. IT can build, test and deploy those rules or simply grant access for other users to easily (and safely) make updates without IT assistance.
- Manage integrations. Easily manage integration via standard API calls into your existing technology, enterprise applications and legacy systems. Cincom CPQ is built on an API open architecture and uses industry-grade compliance protocols to ensure security.
- Centralise pricing, rules and roles. CPQ provides a single, centralised platform to house and manage up-to-date product pricing, build intuitive business rules and manage user roles as they relate to configuring sales and quotes.
Generate more revenue and increase profitability using fewer resources. If you as a manufacturer of specialty vehicles can do that, you’re ensuring future success for your organisation. Here’s how CPQ helps you do it:
- Shorten time-to-market. CPQ gets your products to market faster and enables you to sell through more channels right away, delivering quicker ROI and broader availability.
- Improve reporting. The data captured by CPQ means greater transparency for your executive team when evaluating products, processes, channels, margins and overall sales performance.
- Ensure profitability. Rules and processes created through CPQ ensure that optimised, profitable pricing is used across sales channels, preserving margins and creating scalable, repeatable and predictable revenue.
- Reduce costs. CPQ reduces real costs in terms of people, resources and processes, as well as implied or intangible costs that come with reworks and poor customer experience.
- Enhance partner channels. CPQ enhances opportunities for partners, such as distributors and dealers, to work with you and better represent your products and services. This is a win-win for your business, partners and customers.