CPQ for Industrial Equipment Manufacturing

CPQ for industrial equipment manufacturing is like dedicating an expert to every sales rep. Sales thrive on an intricate maze of products, options and customized solutions. This same complexity, however, also means tricky configurations and pricing errors. Requiring more time and in-depth expertise on every deal. 

What would make your sales team more effective despite these complexities? Here's how to use CPQ to turn complex equipment quotes into faster sales that boost your win rate.

Complexity Challenges

Imagine your product manager wrestling with an array of permutations for a custom-built conveyor belt system. Each feature, option, and integration is a web of possibilities.

Meanwhile, your sales team battles a maze of spreadsheets and price books. Trying to configure and price the turbines, generators and transformers that make up a power generation order.

CPQ addresses the manual friction in your quoting process:

• Configuration Confusion. Manual configurations overlook client details, and lead to pricing errors.
• Pricing Problems. Manual pricing overlooks discounts and margins, causing errors that lead to revisions.
• Regulatory Risks. Manual compliance checks also lead to errors that put your projects, and reputation at risk.  
• Quoting Swamp. Errors and revisions stall progress. Frustrating approvals and clients.  
• Profit Plunges. Time consumed on manual work frustrates revenue. Yet your expenses remain fixed. Therefore your cost structure is increasingly unstable.

CPQ for Industrial Equipment Manufacturing

With CPQ as your guide, the once confusing quoting maze is a well-lit, guided path. 

Your sales team regains their confidence. Configurations and pricing are error-free. Without email back-and-forth and expert hand-holding. 

Quotes are fast and accurate, and fly through approval. Without delay. Here’s how:

• Effortless Configuration. Predict customer needs and quote every product without performance or governance issues. Embed self-guiding expertise in every sales experience. Generate separate pre-built or custom sales quotes and Bill of Materials (BOM).
• Dynamic Pricing Power. Generate highly complex, competitive pricing, including cost-plus, margin-based, and one-time pricing options. Automatically create materials costs, labor estimates, and estimated sales tax. Automatically control discounts and rebates.  
• Compliance Confidence. Automatically control regulation nuances with built-in compliance and risk checks that ensure compliance.  
• Increased Revenue. Process highly complex configurations with thousands of rules, dependences, and calculations instantly. Eliminate under-quoting. Optimize opportunity value. Reduce time-to-quote and cost-per-quote.
• Enterprise Process Ease. Deliver an easy and convenient buying experience. Quote faster without the wheel spinning and delays. Easily pass data to downstream systems, including ERP, and simplify back office processes.

Simplify How Products are Sold

In our experience, CPQ serves as a catalyst for efficiency and revenue growth. Helping you quote your most complex products without slowing you down.

In fact, industry studies show CPQ delivers:

• 70% less rework that ensures consistent pricing (Aberdeen Group)
• 20% decrease in time spend on quote creation (Gartner)
• 5 - 15% growth in revenue through faster quoting (Forrester)

XaitCPQ improves customer sales efficiency 

"XaitCPQ has reduced our time to quote by up to 50%. This significant improvement has enabled us to spend more time improving the customer experience and increasing customer satisfaction.” 

- Mike Chesnutt, President, Fabtek

Ready to Level Up your Sales Game?

Don’t let manual processes and errors stall your sales and delay your revenue. Embrace the power of CPQ and start closing more deals with:

• Simplified complex configurability and pricing precision
• Faster, more accurate quotes
• Reduced cost-per-quote
• Optimized value and increased revenue
• Expand your digital footprint, make it easy to sell even your most complex products online
• More satisfied and loyal customers

Embrace the power of CPQ and pave your way to a more profitable, customer-centric future.

Related Article: 5 steps to selecting the right CPQ vendor for your business