Why Manufacturers Need to Implement SAP CPQ and SAP Sales Cloud Solutions:
Do your sales teams get bogged down by paperwork instead of selling? Does your B2B sales, pricing and quoting complexities lead to increased cost of sales and reduced profitability? B2B manufacturing sales organizations like yours have the highest possibility of B2B sales success with a combined implementation of SAP CPQ and SAP Sales Cloud solutions. The duo will not only boost your sales productivity, it has the power to generate more successful quotes in less time and with 100% quote efficiency and accuracy.
Key Pricing and Quoting Challenges in the Manufacturing Business:
B2B sales teams in the manufacturing industry specifically face an humongous challenge to manage complex pricing rules, product configurations, and custom quotes. Manufacturers who have adopted SAP CPQ and SAP Sales Cloud solutions are able to efficiently handle product complexities, siloed pricing and quoting processes. Here are significant hurdles that B2B sales leaders and personnel have to address in their efforts to stay competitive and profitable.
Complex Product Configurations
Dealing with highly configurable products requires going over varied checks and balances and several variables. Having an outdated or a manual-driven CPQ system invariably leads to increased time to quote, quoting and pricing errors, inconsistent and delayed quotes generation.
Dynamic Pricing Rules
A lot of factors influence pricing for manufacturers that include raw materials costs, region-wise pricing, discounts specific to customers, and ever-increasing market demands. Manual processes to calculate such a dynamic pricing will indefinitely result in lost opportunities for revenue generation and margin management.
Slow Quoting Process
Lengthy quoting processes often make the life of B2B sales executives difficult. Failing to automate such quoting processes leads to delays in generating accurate quotes, considering the sales people required to collaborate with several teams - engineering, finance and so on. Ultimately, the slow quoting process leaves your customers frustrated.
Inconsistent Sales Processes
In a not-so-automated B2B sales process, your teams’ ability to follow varying processes becomes difficult, and the point of ensuring consistency in sales performance becomes all the more difficult. This inconsistent process not only impacts customer experience, but also reduces the ability to scale B2B operations.
Limited Visibility into Sales Performance
Real-time data is key for driving B2B sales success in manufacturing. Without a unified view into performance of quotes, pricing trends and sales pipeline, your sales leadership will have difficulty in making informed decisions, which reflects inefficiency in sales forecasting and strategic approach to boost sales and revenue.
How SAP CPQ and SAP Sales Cloud Solve Pricing and Quoting Challenges
Automated and Accurate Product Configuration
SAP CPQ enables your sales team to automate complex product configurations with 100% accuracy. The guided selling feature allows sales representatives to run through the correct product options and variations, thereby reducing any errors in the configuration stage. It is how effectively SAP CPQ arms your sales teams to meet your customer requirements while streamlining internal processes.
Use Case: Manufacturers can configure hundreds of product variations based on size, power, and additional features. SAP CPQ empowered sales teams to efficiently generate quotes by easily choosing options from predefined configurations, eliminating quote errors and minimizing dependency on engineering involvement in each sale.
Customizable Pricing Models
Managing dynamic pricing rules is essential in B2B sales success. By integrating SAP CPQ with SAP Sales Cloud, your sales teams can handle it efficiently. The solution supports the dynamic pricing models by taking into account contracts, regional pricing, volume-based discounts and any other pricing conditions automatically. Business value you can gain is minimized calculation errors while ensuring the right price for each deal.
Use Case: When a manufacturer has pricing impacted by raw materials costs and discounts, SAP CPQ can ensure consistent pricing for each quote based on the most recent data.
Streamlined Sales and Quoting Processes
SAP CPQ and SAP Sales Cloud solutions allow sales teams to reduce quote creation time from days to a few minutes. The robust solution provides better collaboration across departments, so that there is no time wasted or delays for approvals. This streamlined quoting process boosts quote creation time faster.
Use Case: Manufacturers can reduce quote creation time drastically from months and weeks to just a few hours and minutes using SAP CPQ’s quote automation capabilities. And your sales team can cut the long sales cycle time short and boost win rates.
Enhanced Sales Insights and Analytics
SAP CPQ and SAP Sales Cloud solutions empower sales teams with data-driven insights into sales performance. Comprehensive analytics on quote conversions, pricing trends and pipeline health allow leadership teams to make prompt and strategic decisions as and when needed.
Use Case: Using the powerful SAP Sales Cloud Solution, manufacturers can take advantage of real-time insights into their sales and quoting performance, while efficiently adjusting pricing strategies and boosting revenue.
Key Takeaways: Transform Your Manufacturing Sales with SAP CPQ and SAP Sales Cloud
Manufacturers dealing with complex pricing and quoting challenges can no longer afford to rely on manual processes or disjointed systems. SAP CPQ and SAP Sales Cloud provide an integrated, automated solution that improves sales efficiency, ensures quote accuracy, and enhances the overall customer experience. By adopting these cutting-edge tools, manufacturers can streamline their sales processes, increase profitability, and scale their operations with ease.
If you're ready to transform your pricing and quoting process, explore how Knack Systems’ expertise in SAP CPQ and SAP Sales Cloud can help your business drive growth and stay ahead of the competition.
Contact Knack Systems to learn how we can help you leverage these solutions for success.
Ready to transform your pricing and quoting processes? Discover how Knack Systems’ expertise in SAP CPQ and SAP Sales Cloud can drive your business growth.
Get in touch with our experts today!
