Our guide to delivering fast, accurate quotes for every inquiry
Effective quoting for custom products can be challenging. Pricing errors, long turnaround times, and configuration confusion between sales & engineering impact quote accuracy and turnaround times. Slow or inaccurate quotes can lead to lost deals and lower margins.
In this blog, we take a deep dive into quoting for custom products and share our insight on how to deliver fast, accurate quotes every time.
Why quote speed and accuracy matter
Delivering fast, accurate quotes makes a big difference to quote conversion rates. It can often be the deciding factor in winning business. So, why is quote speed and accuracy so important?
B2B buyer expectations
The way businesses buy from other companies has changed significantly. Today’s B2B buyers expect a buying experience similar to their B2C interactions. This shift is partly due to the increasing number of Millennial and Gen Z buyers whose careers have progressed in a digital-first environment. Millennial and Gen Z employees make up an estimated 71% of today’s B2B buyers, making speed and accuracy a key component of custom product sales.
Response time is key
Quote response time has a big impact on whether a buyer chooses your company over a competitor. B2B buyers expect speed and responsiveness and want fast replies to their sales inquiries.
Accuracy builds trust
Providing timely, accurate quotes for complex products helps to build customer trust and confidence. Businesses want to work with manufacturers who demonstrate speed and accuracy. This can also have a longer-term impact on customer retention and repeat purchase rates.
Achieving speed and accuracy for custom product quotes with DriveWorks CPQ
DriveWorks automatically generates accurate quotes in minutes so salespeople can configure products, calculate prices, and generate proposals in real-time. Delivering accurate custom quotes with quick turnaround times enables manufacturers to win more deals.
Here’s an overview of how DriveWorks enables manufacturers to speed up quote cycles without compromising accuracy:
Guided selling
Guided selling enables sales teams 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 building quotes.
Real-time pricing
Rules-based pricing logic ensures that quote pricing is always up to date and accurate. Complex pricing and discounts that might have previously taken days to put together are automatically calculated.
Enforced accuracy
Predefined rules based on engineering logic, design standards, and production feasibility, enforce configuration accuracy. This ensures that quotes are consistently accurate and reduces rework volumes.
Streamlined approval workflow
Streamlined approval processes automatically refer quotes to the right teams for approval. This reduces delays, speeds up quote cycles, and minimizes back-and-forth communication.
Automated quote generation
Quotes are generated automatically, based on accurate configurations and real-time pricing. This 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.
Standardized quote templates
Using standardized templates, branded and professional-looking quotes are automatically generated. This removes the need for manual quote entries and ensures quote accuracy.
Speeding up quoting with DriveWorks
DriveWorks enables manufacturers to quote complex products faster and with greater accuracy. For a wide range of businesses in the custom manufacturing sector, DriveWorks has streamlined workflows and enabled them to produce more designs, quotes, and orders in less time.
Before using DriveWorks, ESLA had the capacity to handle 480 quotations a year. In 2022, they made 2,000 quotations.
Ingenieria SAMAT
Authorized DriveWorks Services Partner at ESLA
Introduction to creating a CPQ solution using DriveWorks
Tuesday, 25th November, 1pm – 2pm AEDT and 3pm – 4pm GMT
DriveWorks combines powerful SOLIDWORKS® part, assembly, and drawing automation with engaging 3D CPQ sales configurator features to enable manufacturers to implement a successful digital selling strategy, work smarter, reduce errors, and exceed customer expectations.
In this webinar, our product experts will share their knowledge of creating a CPQ solution using DriveWorks.
We run this webinar twice for users around the world. Choose the session that works best for you.
Tuesday 25th November, 1pm-2pm AEDT
Tuesday 25th November, 3pm-4pm GMT
