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What Salesforce CPQ can offer to the manufacturing industry?

By |2022-01-25T04:21:26+00:00January 19th, 2022|

manufacturing CPQ

In today’s agile world, customers increasingly expect firms to produce customized versions of items on demand and transport them to/from anywhere in the globe. To be competitive in the marketplace, businesses must be flexible, swiftly bringing new items to market, responding to changing demand, and offering high-quality products at a fair price. According to an Ovum report, 76 percent of customers will discontinue doing business with a company after just one bad experience. This is a massive number. In today’s competitive business environment, manufacturing industries face common challenges that have the potential of limiting sales potential. This starts from the very common area of quoting to the customers. Many of these challenges have their origin in a disconnection between ERP system and their sales team. Let’s discuss this in detail.

Common Challenges in Manufacturing due to sales and ERP disconnection

ERP system is widely used in manufacturing industries, and We cannot underestimate its value. However, when it comes to making quick adjustments in sales processes, ERP systems are often sluggish and challenging. Overall, they aren’t well-suited to a variety of sales procedures, including pipeline and lead management. As a result, salespeople are frequently forced to use different systems or spreadsheets before generating a quote or handling a contract. When instances like this occur, sales procedures are thrown out of the window and begin to operate outside of the ERP, even though important data such as legitimate configurations, prices, margins, and price lists exist inside the ERP. Sometimes, sales representatives may provide prices and sell things that do not reflect what can be supplied. There comes Salesforce CPQ, which becomes a handy tool for the sales team. By implementing a Salesforce CPQ, manufacturing companies may tackle the complex ERP-sales disconnect. You can easily and quickly standardize the usually complex process of configuring, pricing, and quoting products by doing so. In essence, Salesforce CPQ should serve as a seamless link between your sales processes and ERP system. CPQ eliminates human error from the equation, resulting in consistently accurate and trustworthy quotations.

CPQ in manufacturing industry

Image Source = Google | Image By – Salesforce

Let’s look at how Salesforce CPQ resolves the disconnection issue and help in Increasing sales.

A CPQ solution will give your firm a comprehensive perspective of your sales team’s actions, providing in-depth data about each quote made. This data can be used to enhance pricing and other business procedures over time to serve clients better and help in closing more deals. According to HubSpot, about a third of salespeople say completing deals is the most difficult component of the sales process. Sales teams can enhance their accuracy and quotation time by using a Configure Price Quote (CPQ) solution. The sales team can access real-time customized sales reports and dashboards with Salesforce CPQ. It can assist them in identifying your highest-spending customers, most valuable consumers, and most profitable pricing packages.

With the help of Salesforce CPQ, you can automate your sales process and increase revenue. When you automate your billing, you can keep track of your clients’ payments more easily, offer your sales and support teams more time, and collect revenue more quickly. With the ability to proactively monitor and reach out to customers before their contracts expire, a streamlined procedure can also reduce customer turnover. Other benefits are truly valuable for every enterprise, irrespective of its size or line of operations contracts expire, a streamlined procedure can also reduce customer turnover. Other benefits are truly valuable for every enterprise, irrespective of its size or line of operations:

  • Salesforce CPQ helps you keep track of which products are included in your deal, as well as their quantity, standard price, quoted price, and product codes.
  • New leads and self-service pricing quotes are simple to register for sales partners.
  • Can create a PDF from an approved template and deliver it directly to customers by automatically populating a quote with relevant customer data from the CRM.
  • Depending on the complexity of the product and the possibilities for technical engagement, quoting processes can be reduced to 20-30% of an earlier time.

When it comes to enhancing your sales procedures to promote improved growth, these are critical points to be considered. These pointers can help you improve efficiencies and reduce risks in your configure, price, and quote (CPQ) process. This will ensure that your clients receive excellent service and accurate delivery from lead to payment. The integration between ERP and sales helps introduce an automated and standard approval process for creating an auditable and documented process and maintaining critical data readily accessible for the sales team.

Some other indications that your manufacturing company needs Salesforce CPQ Implementation.

  • The business is unable to upsell or cross-sell appropriately.
  • Your company’s growth is outpacing your operational capability.
  • Customer expectations for proposals are outpacing your ability to deliver them.
  • Individual salespersons going present quotations in their unique method, potentially resulting in discrepancies or salespeople providing prospects with erroneous quotes.
  • You’re noticing disconnects between the proposal and the order fulfillment.
  • The proposal procedure limits your manufacturing company’s revenue potential.
  • Lost revenue due to sales representatives generating bids based on incorrect pricing lists.
CPQ helps manufacturing industry

Image Source = Google | Image By – Salesforce

Conclusion

With the Salesforce CPQ, manufacturing businesses could find the right solutions for their customer based on the visibility of complete order management from quote to sales. Introducing Salesforce CPQ can help companies drive more sales in manufacturing industries by integrating ERP and CRM. Salesforce Manufacturing Cloud combines the best of Salesforce’s CPQ and integration offerings to give manufacturers a consistent user experience.

Learn more about how implementing Salesforce CPQ does have a positive impact on your business by contacting Mirketa. Find out how Mirketa’s Salesforce CPQ implementation services are transforming successful businesses across the USA.

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