Why quote speed and accuracy matter
Buying cycles are getting shorter as customers increasingly expect to get from inquiry to delivery in a much shorter timeline. A frictionless buying experience is key to winning sales, but why are speed and accuracy in quoting so important?
Evolving B2B buyer expectations
The B2B buying journey has changed dramatically. Today’s buyers expect the same seamless, responsive experience they get as consumers. This shift is largely driven by Millennials and Gen Z, who now make up around 70% of B2B decision-makers and are more likely to look for B2B quotes online. For custom product sales, this means fast, accurate quoting isn’t just a nice-to-have, it’s essential.
Response time matters
How quickly you respond to a customer inquiry can directly influence a buyer’s decision. Businesses expect prompt, efficient communication and are far more likely to engage with suppliers who respond quickly. Slow turnaround times can lead to lost sales.
Accuracy builds trust
Providing clear, accurate quotes helps establish credibility and confidence. Buyers want to work with suppliers they can rely on, and consistent accuracy reinforces trust. Over time, this not only helps secure initial sales but also drives repeat business and fosters long-term customer relationships.
Key requirements for fast, accurate quotes
1. Guided selling
Guided selling takes sales teams through the configuration process step-by-step, enabling them to accurately configure complex custom products faster. Streamlined configuration improves quote cycle times and gives sales reps more time to focus on selling rather than sales admin.
2. Real-time pricing
Pricing should always be up to date and accurate, with complex pricing and discounts automatically calculated and included in quotes.
3. Standardized quote templates
Using standardized templates makes it easy for sales teams and distributors to produce professional-looking quotes and removes the need for manual quote entries that slow down quote response times.
4. Configuration accuracy
Every configuration must be accurate and feasible for production. This reduces back-and-forth dialogue between sales and engineering, reduces quote revisions, and ensures quote accuracy.
5. Automated quote generation
Automated quote generation not only speeds up quote turnaround times but also frees up sales teams to spend more time on selling and less time on sales admin.
6. Integrated data
Integrated business systems provide accurate data for quotes. Accurate product pricing, delivery charges, warranty information, compliance codes, etc can all be included. Providing comprehensive information makes it easier for customers to get internal approval and commit to purchase.
How DriveWorks CPQ transforms quoting
DriveWorks CPQ automatically generates accurate quotes in minutes so salespeople can configure products, calculate prices, and generate quotes in real time. Delivering accurate custom quotes with quick turnaround times enables manufacturers to win more deals.
Speed
DriveWorks CPQ automatically generates quotes in minutes, so sales teams can configure custom products, apply pricing, and produce accurate quotes in real time. Faster quote cycle times lead to more deals won.
Accuracy
DriveWorks CPQ automates the pricing process based on predefined rules and logic, removing the need for sales teams to produce quotes manually. Complex pricing models designed to maximize profitability can be easily implemented.
Complexity
DriveWorks CPQ makes quoting for complex configurations easy. Guided selling ensures configurations are valid and identifies add-on and cross-sell opportunities to maximize deal size.
Using DriveWorks CPQ to improve quote cycle efficiency
Autex Acoustics Ltd, based in New Zealand, specializes in the development and production of innovative interior acoustic and insulation products. Autex uses DriveWorks CPQ to improve efficiency when closing deals, reduce quote cycle times, and enable its sales team to sell more.
Using DriveWorks has helped us automate design processes to free up valuable design team resources and provides our customers with quick, professional, and accurate quotations for our acoustic solutions.
Dwane Brown
Group Technology Manager at Autex
Learn more about DriveWorks CPQ
Manufacturers of all sizes, across all industries, use DriveWorks CPQ to accurately configure, design, and sell custom products profitably.
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