CPQ SOFTWARE CONFIGURATOR SOLUTIONS IN 2021- A DETAILED PERSPECTIVE

The COVID-19 pandemic has thrust the world into a complete transformation of sorts, where every industry has tried to stay afloat and adopt technology in its stride. The same is true with the manufacturing industry, where things have taken a completely different path.

B2B manufacturing is another character in this same adoption story.

While there can be no denying the fact that manufacturers did employ some kind of technology or other to generate revenue even before things got rough, the present scenario is representative of a big change- an increase in the complexity of it all, as well as the scope. This newly digitized world leaves no room for error, given the competition.

Despite all of this, making sales will never be going out of relevance any time soon. Other than innovative technologies, manufacturers are also coming up with innovative sales strategies to gain the attention of new prospects and also keep those existing ones close to the chest.  

configured software has become the need of the hour, where manufacturers get tailor-made solutions to showcase their products and services to their prospective customer market(s). The need is justified too, as many complex products make their way to existing product lines as well.

Buyers have also become more demanding than ever, where they want to have the maximum level of satisfaction with their purchase. A great CPQ software for manufacturing takes care of all that, bringing in levels of sophistication that you never thought possible before.

Present CPQ Market Status

As far as the present situation is concerned, CPQ strategies continue to play a vital role in ensuring better efficiency and pace to every single sales cycle, right from creating perfect quotes to coming up with the best product configurations. In the whole wide world of CRM, CPQ today plays a big role in terms of sheer effectiveness and delivers immense value to a company.

CPQ thrives in challenging environments, which is why with more complexity in the sales cycle, the overall impact of the right CPQ strategies is felt more. It won’t be an understatement to say that the right set of CPQ tools and practices deliver immense growth, reduced errors, and more sales too.  

Manufacturing Visualization Software- Things to Expect in 2021

The good days of manufacturing visualization software are far from over yet. The brilliance, the innovation, as well as the convenience that comes on the table with a software configurator is simply not possible with a team of human sales reps.

Here’s how CPQ software solutions will hold their fort in 2021, and maybe, even beyond too-

Better Abilities to Make Decisions

Selling complex products often depends on the ability of sales reps to take swift decisions in the blink of an eye, with only the available information they have as evidence. Just a single step in the wrong direction can cause a domino effect that can lead to complete disaster.

With the right configured software solution, there is a harmonious balance between manual and automated sales operations. A CPQ solution enables reps to cut down on their menial, repetitive tasks so that they can focus on their other responsibilities as well. Sales reps will keep turning to CPQ for this very reason.

Better Integration into Sales Cycles

For manufacturers of complex products, the sales process is a tad more complicated. Data plays a more important role in the scheme of things, and further plans of action rely largely on the work done upon a certain data set. Data is something important for every department throughout the organization, and nothing streamlines this data better than a software configurator.

With good CPQ software for manufacturing, workflows are now becoming more efficient than ever before. The lives of people outside the sales department become easier, as they don’t need to sort out irrelevant or inaccurate data. An advanced CPQ solution is a good news for teams throughout the organization.

Better Automation & Analysis with AI

There has never been any doubt on the potential of Artificial Intelligence (AI) in the slightest. CPQ software for manufacturing has AI at its very core and being, but recent times have seen this technology smarter and more efficient, not to mention the versatility of it all. This year, and a few years later too, AI elements will continue to increase in terms of sophistication in CPQ solutions.

Through AI, the most complicated calculations can be finished off in mere seconds. This leads to immense reduction in workload for the sales reps, also reducing the manual errors dramatically. However, this is just the tip of the iceberg. As far as complex sales are concerned, several steps are involved in the process, that will be better managed through AI.

While AI can take care through the sales cycle, sales reps get to consolidate on their engagement and personal interactions with their customers, something that we will be seeing a lot more of in the time to come.

To Conclude…

There’s a lot in store for configured software in the time to come. The nature of CPQ will become more elaborate and descriptive with the derivation of insights possible to a much higher degree than ever before. Customers today ride low on time, and even this short time will be given much more respect than ever before, and what they wish to purchase will dominate the entire sales cycle without a doubt.

Smart buying is a reality, but intelligent selling is not far behind too. An era ushered by an amazing CPQ tool in KBMax!