If you're a manufacturer, you likely know that creating a bill of materials (BOM) can be time-consuming and error-prone.
Creating a long list of parts, raw materials, assembly items, and their respective quantities is an arduous task, and it’s crucial to get everything right. But what if there was a way to automate BOM creation? How much valuable time would your team save, and how many errors would be avoided? And saving time and avoiding errors means saving money. Because of these potential savings, many operations are searching for a way to automate their BOM creation process.
To remain competitive, this is an essential step.
How CPQ Accelerates the Process of Generating Bills of Materials
Traditionally, to create a bill of materials, manufacturers must manually create a document which contains:
- A complete list of all parts and components required for a final product (including part names, numbers, or phrases)
- Respective BOM levels
- Units of measurements for each part and configurable aspect
- Methods of procurement and specific reference designations
- Any relevant notes for prospective suppliers
Additionally, if these BOMs aren’t 100% accurate, you may see delays in your product assembly and launch, or shipment mistakes—costing your organization valuable time and money and encouraging your customers to look elsewhere.
So how do you ensure that your BOMs are error-free and quick and easy to create? Automated CPQ (Configure Price Quote) software answers the call.
Many manufacturing operations use CPQ software to reduce errors, increase their bottom lines, and automate their sales cycle. And for a good reason. CPQ software empowers your team to accurately and efficiently develop quotes and proposals for prospects as well as BOMs to send to the shop floor at deal closing, all based upon up-to-date product specs and information.
But not all CPQ solutions are the same. Before you implement CPQ software, you’d be well-advised to identify your exact needs.
What to Look For in a CPQ Software Solution
While there are many different versions of CPQ software available, it's essential to choose the service that best fits your organization's needs. It’s important to make sure that your chosen CPQ solution is:
- Specific to your industry
- Trusted and used by organizations of all sizes.
- Able to offer you a free demo before you decide to implement
It’s also necessary to note that CPQ products don't only help you automate the generation of BOMs. The best CPQ providers allow you to expand on this capability by also allowing you to:
- Configure complex products in minutes through a web-based portal
- Integrate into your CRM
- Create omnichannel sales channels
- Automate upselling and cross-selling
- Reduce employee training time
- Lower your quote and order error rate
If you're looking for a CPQ solution to automate the generation of your bills of materials, check out Verenia’s leading CPQ software. Our team is happy to answer any questions you may have about CPQ services and making selling and manufacturing processes more efficient and reliable. If you'd like to see our CPQ solution in real-time, at no charge and with no obligation, feel free to book a demo with us.