Improving efficiency, streamlining workflows, and increasing sales are key priorities for many businesses. For any company dealing with customization, bundles, or complicated pricing models, investing in CPQ software helps to optimize sales processes and improve profitability.
CPQ solutions enable businesses to create accurate sales quotes, automate complex pricing structures, and configure products to meet the needs of their customers. CPQ for manufacturing solutions do all of this, plus they automatically generate documents and data for manufacturing.
In this blog, we explore what types of businesses benefit most from CPQ and CPQ for manufacturing.
Manufacturers of configurable products
One of the main industries to benefit from a CPQ solution is manufacturing. Businesses that produce custom products with complex configurations, such as architectural and building components, machinery, HVAC, etc, often require customers to choose from a long list of different product features and options.
For example, a customer might need to select the size, color, material, or additional features of a product. Manually managing configurations and ensuring pricing accuracy can be difficult and time-consuming. CPQ solutions streamline these processes, making it easier for customers, sales teams, and distributors to quickly generate accurate quotes based on pre-set pricing rules. CPQ for manufacturing solutions also automatically generate manufacturing documents and data such as BOMs.
Software & SaaS
Many software and SaaS businesses offer a range of subscription plans, add-ons, and complex licensing options. They often need tailored quotes based on factors such as the number of users, level of support, contract terms, etc.
CPQ enables businesses to generate accurate quotes quickly and easily handle complex pricing strategies, including discounting rules, tiered pricing, and bundle pricing. The ability to optimize pricing strategies enables software & SaaS companies to maximize their customer revenue.
Telecoms providers
Telecoms providers often have a range of services that can vary depending on the needs of the customer. Different packages for data plans, network services, or bundles that combine services as part of one overall package are common.
By using CPQ, telecoms providers can automate the process of generating accurate quotes for custom plans without any pricing or eligibility errors. Guided selling functionality in CPQ makes it easier for telecoms sales teams to identify relevant cross and up sell opportunities by suggesting appropriate add-ons to existing customer plans.
Distributors and resellers
Distributors and resellers often deal with multiple product lines or products from different manufacturers. This can make accurate product knowledge and pricing a challenge, and onboarding of new staff members can be slow due to extensive training requirements.
Using guided selling functionality in CPQ ensures everyone follows the same product and pricing guidelines and uses the correct discounting rules. This is crucial when selling different products across different networks in different countries.
Professional services
Consulting, legal, and financial services businesses offer customized, bespoke services. For example, a law firm may charge different rates depending on the experience level of the team member doing the work, the complexity of the case, or the duration of the service provided.
CPQ enables professional services companies to build accurate quotes based on the scope of services, level of expertise, and complexity of the work. This not only minimizes the risk of under- or overcharging, but also means that quote requests can be turned around promptly.
DriveWorks CPQ for Manufacturing:
For manufacturers of all sizes, across all industries
As businesses all over the world look for new ways to streamline their processes, enhance customer experience, and improve efficiency, DriveWorks CPQ for Manufacturing technology stands out for its flexibility, scalability, and versatility, making it an ideal choice for businesses of any size and across all industries
DriveWorks CPQ for Manufacturing enables businesses to build and manage their own custom configure, price, and quote solution that automatically generates documents and data to sell and manufacture custom products.
Introduction to creating a CPQ solution using DriveWorks webinar
22nd April 3pm BST & 1pm AEST
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.