The manufacturing industry is in the midst of a dramatic transformation -- companies in this key sector of the economy are battling challenges such as increasing costs, broken supply chains and vagaries in demand for their products amid rising geo-political tensions and a looming economic recession.
Against this backdrop, many manufacturers are taking active steps to enhance their efficiency and stay competitive. One of the key areas of their focus is streamlining their Quote-to-Order (Q2O) processes. Several manufacturing firms are using robust Configure, Price, Quote (CPQ) software tools to automate their Q2O processes, thereby reducing costs and improving their efficacy in a big way.
One of the most widely used CPQ systems in the manufacturing world is Salesforce CPQ. The solution, available as part of Salesforce Revenue Cloud, goes a long way in empowering manufacturing organizations to deliver the right product to the right customer at the right time for the right price using the right channel, enabling them to maximize their revenues and delight their clients. Today, we’ll look at 5 key benefits of using Salesforce CPQ for manufacturing companies. But first, let us see what Salesforce CPQ is and how it helps meet the needs of the 21st-century customer.
What Is Salesforce CPQ and How Does It Help Ensure High Levels of Customer Satisfaction?
Salesforce CPQ is a highly agile, cloud-hosted software solution that allows manufacturers deliver excellent value for their clientele – the novel Salesforce application enables manufacturing firms to fully harness the potential of client and marketing data to mitigate the risks involved in the execution of Q2O processes and shorten sales cycles considerably. It allows the businesses to come up with precise configurations for products of any complexity with minimal effort, develop the right pricing models and generate accurate quotes rapidly. Salesforce CPQ helps manufacturing organizations deliver comprehensive, delightful experiences across all channels and touchpoints.
We’ll now move on to look at 5 key benefits of using Salesforce CPQ for manufacturers.
5 Major Benefits of Using Salesforce CPQ for Manufacturing Organizations
Benefit 1 - Customers Can Know How the Finished Product Will Look
For years, manufacturers used pencil and paper to configure products. However, with the advent of powerful tools such as Salesforce product configurators, manufacturing companies are able to come up with virtual configurations of products and show how finished products will look like in a 3-D setting.
Salesforce product configurators can be used to customize several aspects of a product such as color, texture, add-on components, geometric configurations and so on, based on specifications of customers, in real time. This will enable your clients to see and know exactly what you’d be delivering to them. No wonder, it will go a long way in enhancing their satisfaction levels in a big way.
Benefit 2 - Customization of Products Can Be Done En Masse with High Efficacy
Personalization of products is the order of the day in the manufacturing industry; the customer of the 21st century demands products that are fully tailored to meet his unique needs. However, configuring products for each customer manually can be a daunting task as it takes considerable time and effort.
This problem can be resolved very effectively using Salesforce CPQ. The robust tool helps you fully automate the configuration of products, and this helps you come up with highly precise configurations based on specifications provided by each client, in no time. Needless to say, the client is delighted.
Benefit 3 - Salespersons Can Be Empowered to Deliver the Right Solution
We all know consultative selling plays a key role in delivering the best value to clients, by providing the right solution to their problems. In an ideal scenario, every sale must be led by an expert who has the ability to understand the challenges faced by the customer and formulate the best solution to overcome his challenges. Unfortunately, many manufacturers (or for that matter, most businesses) are unable to have experts in their sales teams due to budgetary constraints.
Salesforce CPQ provides the perfect solution to this problem, thanks to its guided selling capabilities. AI-enabled analytics capabilities of the tool leverage the specifications of your products coded into the tool and combine them with information pertaining to a customer’s needs to help your sales reps come up with the right recommendations to meet the needs in a highly effective manner.
Benefit 4 - Sales Cycles Can Be Made Very Lean and Efficient
Most manufacturers are aware of and implement lean principles, which enable them to reduce wastage and make their production processes super-efficient. But only a few manufacturing companies apply these principles to their sales processes to prevent wastage of time in submitting proposals and make optimal use of their selling resources.
You can use Salesforce CPQ to make your sales process lean; the powerful Q2O management tool is seamlessly integrated with other components of Salesforce Customer Relationship Management (CRM), allowing your salespeople to access all the information they need at their fingertips. This helps them avoid the hassle of spending huge amounts of time collecting the information, enabling them to develop the right proposals rapidly, enhancing their efficiency considerably.
Benefit 5 - Prices Can Be Adjusted Dynamically to Maximize Profits
Most manufacturing companies wish to dynamically adjust the prices of their products based on rapidly-evolving conditions. For instance, a manufacturer would like to price his products based on his inventory levels that keep changing constantly. However, pricing products dynamically is easier said than done. Several internal and external variables must be considered and analyzing their impact can take a lot of time.
Salesforce CPQ can be used to overcome this problem very effectively. The novel solution can be used to calculate prices automatically based on a wide variety of factors and routed to persons who are competent to approve the prices in real time. This allows manufacturing firms to adjust their prices according to fast-changing market conditions, and thereby, optimize their profits.
As you can see, using Salesforce CPQ is very beneficial to manufacturing companies. At Solunus, we help manufacturers make the best use of the innovative Q2O management solution to boost their revenues and delight their customers. We have gained rich experience serving companies of various sizes in the sector, and this, coupled with our strong emphasis on understanding your unique needs enables us to deliver the perfect solution to the needs.
Hope you liked this post. How do you use Salesforce CPQ? We’d love to know.
Solunus is a leading Salesforce consulting company, based in Dallas, TX, USA. Our proven ‘needs-first’ approach coupled with our unrivaled expertise of the Salesforce platform enables us to provide the perfect solution to help you deliver delightful services to customers and achieve rapid growth.