How Manufacturing Firms Can Increase Sales With Salesforce CPQ Solutions
- September 16, 2021
- 8 minutes
For the sales department in manufacturing enterprises, day-to-day businesses can be a continuous hustle for responding to the customers who demand quick quotes and navigate siloed to get accurate pricing. Manufacturers that still rely on older quote and price processes remain at a competitive disadvantage that the business that uses automated tools like the Salesforce CPQ Solutions or configures, price, quote software.
Those manufacturing companies that already use Salesforce CPQ services within their business have better quoting and proposal processes. They also can eliminate data silos as well as streamline the sales and fulfillments from the initial presentation of the proposal via invoicing.
Sales reps spend most of the time on activities that do not add value, like writing proposals, data entry, and obtaining approvals. With the Salesforce CPQ implementation, your company’s representatives become empowered and get real-time access to the pricing information, product information, incentives, customer history, and much more. If you still have confusion about whether your manufacturing company needs CPQ or not, then here are few signs that your business is ready for CPQ solutions.
Signs That Your Manufacturing Company Needs Salesforce CPQ
Your business needs Salesforce CPQ if there are the following indicators:
- Your homegrown systems or spreadsheets slow down.
- The growth is improving faster than your operation ability.
- Your company representatives send inaccurate quotes to the prospects.
- The customer expectations are outpacing your capabilities for delivering proposals.
- The legacy practices and proposal process constrain the revenue potential of your manufacturing business.
- You are viewing some breakdowns between the proposal and the fulfillment of the order.
- The company is unable to upsell or cross-sell properly.
- You are witnessing high claims on warranty from missed expectations of customers.
Three Tips Which Will Help Manufacturing Businesses to Enhance Their Sales
Manufacturing company’s teams offer a multitude of products, pricing, packaging, and discounts. While working on these and turning them into quotes, complexity arises in each element and creates bottlenecks. For mitigating the risks in CPQ processes, these key takeaways can help you and ensure the best service from your side that can convert leads into customers.
1. Internal as well as external transparency
Salespeople believe that closing deals are the most challenging thing in the sales process. Through the Salesforce CPQ services, the teams can increase their accuracy and quoting times. The systems also assign the approvals to the team, if necessary, in the guidelines. Thus, allowing human oversight, streamlining the process of sales reps, and removing management bottlenecks. The CPQ offers transparency to the internal team and provides overarching views of the activities of the sales team. It provides your business with in-depth intelligence into every quote that is produced.
This intelligence helps to make constant improvements to the pricing and many other manufacturing business processes. It also results in serving customers in a better way and land deals. With CPQ, the team will have access to reports in real-time and using which, you can identify the top-spending customers, profitable consumers, and successful packages of pricing.
2. Quick Quoting Process
Losing potential customers due to the time restraint is one of the worst things to happen. So, you should go for a Salesforce CPQ consultant who can help you find a way to drive more sales. You can make your company outshine with an excellent quoting process. On average, the quoting process lasts for 5 to 10 days, but with CPQ, the quotes can be prepared within one business day based on potential engineering and product complexity. The modern cloud systems of CPQ can let you generate quotes from any device.
Whether your sales rep is at the office or in the field, the systems can provide accurate and quick quotes. But the CPQ also has more advantages like tracking products that are your deal’s part, easy registration of new leads, and automatic quote generation with relevant data about customers from the Salesforce CRM.
3. Automation and Streamlining
You can enhance the sales process for driving revenue through Salesforce CPQ Integration. When you automate the billing, tracking customer’s payments becomes quite easy. It allows you for revenue collection promptly. Having streamlined processes helps minimize the customer churn and provides the ability to monitor and get to the customers before their expiration of contracts.
Certain Benefits of Using Salesforce CPQ in Manufacturing Company
Implementing the CPQ solutions is an excellent way to ensure the best quote and price, build forecasts or analysis for the business’s future, and elevate the agility of sales cycles. Take a look at numerous advantages of implementing Salesforce CPQ for the manufacturing industry.
1. Avoid Revenue Loss
When you have an extremely flexible price environment, then errors ought to happen. These errors can be from bad quotes and pricing errors to informal approval processes and duplicate data entry. It means that a humongous amount of money and time is required to fill these cracks. However, by accessing the Salesforce CPQ consultant, you can manage the time-consuming tasks and focus on the business parts that lead to money. The CPQ solution can help in interpreting the data and represent it in dashboards or reports. All these will help in avoiding any revenue loss.
2. Gain Improved Channel Visibility
If sales representatives are not utilizing a formal quoting process, then they are missing some important opportunities. The Salesforce CPQ centralized selling process ensures reduced overhead, provides metrics, and enhances overall channel visibility.
3. Management of Margin Pressure
In globally competitive markets, profit margins become a little for manufacturers. But with Salesforce CPQ solutions, you can eliminate the chances of any non-standardized quotes, rebates, or discounts. You can monitor all historical trends in the most profitable quotes and generate the best margins.
Suppose your manufacturing company is using manual CPQ methods and costing you much time as well as money. In that case, you should consider adopting a Salesforce CPQ solution that improves the customer’s experience, streamlines processes, minimizes revenue loss, decreases margin pressure and provides valuable insights to your business.
GetOnCRM Solutions provides dedicated Salesforce CPQ consultation services to the clients. We help in successfully increasing the revenues of the business. We help in the proper and effective maintenance of the Salesforce CPQ of organizations.