The manufacturing industry has unique difficulties in producing cost estimations and quotes for clients. This is due to the huge number of different variables that go into producing a price for the client. Your sales team likely has to take the following into account:
There are even more considerations unique to your product range that further complicate the pricing and quoting process. Traditionally, spreadsheets and other documents were distributed to the sales team and they would create a price estimation and put it into a quote by hand.
This method used to work but it is no longer competitive. Modern data-driven sales systems eliminate redundancies and errors to help you improve cost estimating on all fronts. Let's look at the most significant drawbacks many manufacturers are still living with and how a sales system can address them.
One Sales Process For Everyone
A common issue with large, distributed sales teams is that they do not have a consistent, monitored and logged sales process. Each salesperson forms a personal relationship with a client and produces their own quotes following their own process.
This ad hoc system means that sales managers may have little idea what is going on, which strategies are working and which products are selling. It’s a mess that needlessly requires time and money to keep working.
After a centrally managed sales system is implemented, your sales teams will be guided through your carefully designed sales process. Every step is monitored and logged giving your sales managers the data they need to improve your sales process and turn leads into sales.
When a client contacts your sales team requesting a quote, the faster they receive that quote the more likely they are to proceed with the order. This process is going to be slowed down considerably if your salesperson has to cross-reference spreadsheets and other siloed company resources in order to get a price.
If you keep the client waiting, they are very likely contacting a competitor.
Ditch spreadsheets and siloed company information systems with a modern sales system that centralizes all your company information making it instantly available to your salespeople.
Even better, this system will also create a beautiful, standard, fully filled quote emailed directly to the client. The quote will contain a full bill of materials, volume discounts and even mockup images of the proposed product.
The less time your sales team spends sorting through documents and creating quotes the more time they are selling.
Mistakes Are Always Expensive
Traditional methods of arriving at the cost of products required a lot of work on the part of the salesperson. They had to keep in mind all the different factors that could modify the price and then double and triple check that they got everything right. No matter how diligent they were, people always made mistakes.
Mistakes cost money and harm your reputation.
Once you eliminate the need for your sales team to produce the cost estimate, the number of mistakes will be massively reduced. You can be confident that the quotes that you are sending out are accurate and you can fill them.
If you can get your quotes right, your clients will trust that you can get your product right.
CPQ - The Modern Sales System You Can Trust
A CPQ or Configure Price Quote solution is a fully integrated, data-driven sales system that will streamline your sales process. Here at Verenia, we produce the best-in-class CPQ system for manufacturing that will revolutionize your cost estimation and quote generation system.
The Vernia CPQ system ties together all of the relevant sales information contained in your different departments and provides them instantly to your sales team. Any quote they produce will always include every factor that affects the sales price ensuring that your clients receive the correct quote.
One of our specialists would be happy to discuss how the Verenia CPQ can be integrated into all of your existing systems and give your sales team the edge they need to close the deals. You can get in contact with one of our CPQ experts here or sign up and take a tour of the demo here.