What is CPQ for Manufacturing?
Businesses in the manufacturing industry are embracing the benefits of digital technologies to maximize efficiencies in production and increase sales. The move towards digitalization is not just a trend but a strategic move, as organizations see multiple benefits ranging from increased productivity and improved product quality, to minimized waste and optimized labor efficiencies.
67% of manufacturing companies say their past investment in digital technologies has paid off and they are better prepared for challenges such as supply chain issues and labor shortages.
Looking ahead, 71% of manufacturing companies agree that digital tech will drive productivity in 2024, highlighting the role of digital transformation in reshaping traditional sales and manufacturing processes.
Challenges of Manufacturing and Selling Configurable Products
Manufacturers selling configurable products face numerous challenges, from the need for strong product knowledge to the complexities of pricing and discount calculations. Manual preparation of quotes and technical documentation is slow and open to errors, and managing approvals and order progress can be time-consuming.
Manufacturing errors and unplanned downtime are potentially very costly. The 2022 The True Cost of Downtime report found that manufacturers lost $1 trillion in manufacturing failures accounting for 11% of their yearly turnover.
Smarter Quoting, Selling, and Manufacturing with CPQ for Manufacturing
CPQ for Manufacturing (CPQM) is a digital solution that enables manufacturers to manage complex product configurations, pricing strategies, and quoting processes. CPQM enables businesses to build and manage their custom configure, price, and quote solution that automatically generates documents and data for sales and manufacturing.
The Benefits of CPQ for Manufacturing
Product Configuration and Guided Selling
- Guided selling ensures valid product configurations
- Helps customers understand different options and features
- Guarantees valid configurations that can be manufactured
3D Visualization
- Communicates complex design details effectively
- Enhances customer experience and reduces the likelihood of design revisions
Pricing and Discounts
- Real-time pricing updates as options are configured
- Simplifies the complex process of calculating pricing and discounts
Sales Documents
- Automatically generates quotes and sales documents based on configuration choices
- Reduces manual work and minimizes errors in the quoting process
Manufacturing Documents & Data
- Integrates with CAD to automatically create technical documents and manufacturing data
- Frees up design engineering resources for other higher value tasks
Workflow
- Provides control over permissions, approval processes and customer experience
- Streamlines approval processes and reduces wasted sales time
Unlock Manufacturing Success with DriveWorks CPQ for Manufacturing
DriveWorks CPQ for manufacturing software enables you to build and manage your own custom configure, price, quote solution that automatically generates documents and data for sales and manufacturing.
How are DriveWorks Customers Benefitting from CPQ for Manufacturing?
F.H. Brundle is a family-owned business. Founded in 1889, they are wholesalers of steel products which include a market-leading range of handrail and balustrade systems. F.H. Brundle stocks over 8500 products and new lines are continuously being added.
F.H. Brundle needed a solution that would allow customers to configure systems to their own dimensions, creating accurate quotes and detailed drawings in minutes, saving their customers hours of work and helping to eliminate mistakes.
DriveWorks CPQ for Manufacturing was the ideal solution for their configurator. The technology in DriveWorks made it easy for F.H.Brundle to capture the knowledge of their designers and build a product configurator that enables anyone to configure custom products accurately, and automatically create custom SOLIDWORKS drawings and documents that are sent within minutes.
