Do You Need CPQ for CRM and/or ERP? – What Does Your Technology Stack Look Like Going into 2024
2023 was a crazy year for the manufacturing world, as businesses globally adapt to continued challenges and demands.
For manufacturers to provide the completely seamless experience customers want and need, there’s still a piece missing – Configure, Price, Quote (CPQ). CPQ is a software solution that enables manufacturers and their customers to quickly and accurately generate quotes and orders.
In our recently published, Harnessing the Power of Industry 4.0, we identified that CPQ software is one of the cornerstone technologies for embracing the digital revolution in manufacturing. CPQ solutions enable manufacturers to operate with more agility, streamlining sales processes while providing more visibility into how products and various components perform.
Working together, CRM and ERP should equip manufacturers with up-to-date and automated:
- Product Integration
- Order and quote management
- Contact and account integration
- Product, order, and invoice repository
Integration Is Key
CPQ solutions work together with CRM and ERP platforms and other business technology, which helps establish data integrity and order accuracy. CPQ software accelerates the quoting and proposal generation process, eliminate mistakes, and guides users through the most complex pricing and quoting scenarios.
So, regardless of how you sell – with your direct sales team, through resellers, or B2B/B2C on the web, CPQ can deliver the scalability and flexibility needed to handle virtually any complex quote or order configuration requirement at a low total cost of ownership.
The combination of CPQ and CRM/ERP empowers sales reps to quickly configure complex product and service proposals with ease for virtually any industry, including IEM, professional services, heavy equipment, high tech, and more.
Discover the True End-to-end Benefits
Modernization, automation, and personalization are the key to sustainable success. There is a long list of benefits for manufacturers when it comes to a connected, automated solution – here are the top 7:
- Modernized platform with access to real-time data.
- Enhanced data visibility and insights for more accurate planning, forecasting, and business decisions.
- Reduced quote time, errors, and rework resulting in increased order accuracy and improved sales margins.
- An empowered sales force that works smarter and faster, is better able to meet sales and revenue targets.
- Shorter sales cycle and quote time increase win probability, create up-sell and cross-sell options, and improved margins to amplify revenue.
- Improved forecast and planning reduce operational and material costs.
- Elevated experience strengthens customer and dealer relationships and builds loyalty.
Checklist
Now that you are familiar with the benefits that an end-to-end automation platform can offer, we’ve put together a checklist of questions to ask your solutions provider when looking for a connected CPQ and CRM/ERP solution.
Goal: Service
You want to ensure your automated solution makes it easier for the client, not more complicated.
Does the solution:
- Handle the most complex quoting requirements with ease?
- Eliminate quote-errors?
- Improve quote-to-order speed times?
- Support a unified client interface?
Goal: Automation
The best connected CPQ/CRM/ERP solution is one that works when you’re not watching.
Does that solution:
- Trigger discount and other approval workflows?
- Create bill-of-materials?
- Extend to portals and mobile devices?
Goal: Enablement
You want to set your team up for success with an easy-to-use platform that empowers users.
Does the solution:
- Have a single sign-on?
- Offer guided selling?
- Work with Microsoft Dynamics Sales, Business Central, Finance, and Operations (including AX and NAV)?
Goal: Success
You can have a best-in-class automated solution, but it needs to work for your organization.
Does the solution:
- Offer fast setup and easy maintenance?
- Ensure maximum profits?
Putting it All Into Perspective
No matter what your role is – whether you are a C-level executive or an individual contributor – A fully integrated, cloud-based CRM, ERP, and CPQ platform will help you achieve streamlined, end-to-end quote to invoice automation for the 21st century and beyond.
