More Than Trucks: Businesses Benefitting from CPQ

More Than Trucks: Businesses Benefitting from CPQ

More Than Trucks: Businesses Benefitting from CPQ

Sales and product configurations have traditionally thought of as a necessity for certain industries. CPQ’s rules engine enables businesses to create processes that are as unique as they are.

Okay, I get it, but is it for me?

Configure Price Quote is easy to understand – if you build trucks. Trucks, discrete manufacturing, and robotics – all these industries have pieces that need to be accurately configured together. Certain engines fit in certain chassis, which go into certain body frames. But what if your product lives in the cloud, or is time, or is people? A little more difficult to wrap your head around.

We’d like to offer up a new way to look at CPQ. At the heart of EndeavorCPQ is a robust rules engine. This engine allows the user to configure rules (also called queries) that work best for her/his business. This is an important separation from “customized”. Custom means someone else is doing it for your business. Configured means making it the best, for you, by you, because we believe you know your sales business best.

Whether you configuring quotes for service packages, loans, ecommerce or heavy machinery, a dynamic rules engine enables your teams to create hub, connecting the back office with the front office.

Configure vs Engineer to Order

Chances are that your organization’s needs fall under one of these two categories:“everything is for the first time” or “we recommend what’s best over and over”. Architects, construction, and financial institutions are good examples of the first category, or the “engineer to order” segment. Each bid is unique. Service organizations traditionally fall under the latter category. With minor tweaks on a case-by-case, the same configurations are made over and over.

How CPQ Helps Engineer to Order

Telecommunications is a traditional CPQ user in the engineer to order category because each region or project has a unique set of challenges. Is there enough bandwidth? What regional constraints are present? Changes in location mean changes in prices, tax, accessibility, and more.

Architectural firms, construction business and financial institutions face many of these same sales quoting and proposal challenges. Factors are constantly changing on the price of materials and staffing for a build.

Sellers need to have accurate product and material pricing data to pitch competitive bids that will also have margins that will make the VPs happy. For banks and lenders, changes in rates and length of payment make each interaction distinctive.

Guided selling allows system administrators to build question-and-answer-style templates that gather permanent information for the engine. The engine executes the rules in real time, producing the only options that are the right solutions.

For example, a small business lender needs to gather financial data, growth data, repayment scenarios, length of terms, and current interest rates. By going step by step through the guided selling engine, only options that fit all the criteria are left at the end of the sequence.

How CPQ Helps Configure to Order

Whether B2B or B2C, people turn to service organizations for their expertise in solving a problem. From professional and technology services to staffing and outscoring providers, service providers see the same problem time and time again.

With minor case-by-case changes, CPQ streamlines the process by removing repetitive tasks. Quotes are automated – sellers simply have to enter the new numbers related to prospective buyer.

With CRM or ERP integration in place, product pricing is seamlessly updated, and quoting and proposal time is drastically decreased.

For example, an accounting staffing agency knows how long it will take to complete the taxes for a potential client, based on the number of employees. In CPQ, the agency can update an automated quote with the number from the client, and instantly have a baseline for a quote. This opens the door for the agency to negotiate other services.

Traditional or new age, CPQ helps businesses that sell products or services give accurate quotes and proposals to prospective buyers in less time.

We invite you to explore more of our customers’ use studies or schedule a demo and see how the rules engine can help your business.

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