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Revolutionizing Manufacturing: The Power of 3D Configurators

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Revolutionizing Manufacturing: The Power of 3D Configurators

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3D configurator has revolutionized the manufacturing industry, empowering businesses and customers with new possibilities and benefits. These powerful tools allow users to customize and visualize products in a three-dimensional digital environment for faster, and more efficient manufacturing processes.

The primary purpose of the 3D configurator is to streamline the sales process and enhance the customer experience. It enables sales teams and customers to interactively configure products or solutions in a virtual environment, visualizing the changes in real-time. This allows for a better understanding of the product options and their impact on pricing and overall design.

The 3D configurator provides a user-friendly interface that guides customers or sales representatives through selecting product features, options, and components. It ensures the configuration aligns with the product's rules, constraints, and compatibility requirements.

The software integrates pricing databases and algorithms to calculate accurate prices based on the configured product. It can handle complex pricing structures, discounts, and promotions. It also generates professional quotes and proposals for customers.

One of the main advantages of 3D CPQ software is its ability to generate dynamic, interactive 3D visualizations of the configured product. Users can view the product from different angles, zoom in and out, and explore its features and details. This helps customers visualize their customized product before making a purchase decision.

The software allows businesses to define and manage rules and constraints related to product configuration. This ensures that customers cannot select incompatible options or configurations that cannot be manufactured or delivered.

Here are some key ways in which 3D CPQ software has transformed manufacturing:

1. Enhanced Product Customization: 3D CPQ configurators enable customers to personalize products according to their preferences and requirements. By providing an interactive platform that allows users to choose from a range of options such as colors, materials, sizes, and features, manufacturers can offer a high degree of customization without the need for complex design processes. This level of customization enhances customer satisfaction and opens up new market opportunities.

2. Real-time Visualization: With 3D CPQ software, customers can see their customized products from different angles and perspectives. This visual representation helps them make informed decisions and ensures that the final product meets their expectations. It reduces the need for physical prototypes and minimizes the risk of miscommunication between customers and manufacturers, leading to faster production cycles and reduced costs.

3. Streamlined Production Processes: Integrating 3D CPQ solutions into manufacturing workflows can significantly streamline production processes. Once a customer has configured their product, the configurator can automatically generate the necessary specifications and instructions for manufacturing. This automation eliminates manual data transfer and reduces errors, enabling faster and more efficient production.

4. Cost Reduction: Traditional manufacturing often involves high costs for producing prototypes, tooling, and inventory. 3D CPQ solutions can help mitigate these expenses by accurately representing the final product before any physical manufacturing occurs. This allows manufacturers to optimize production, reduce waste, and minimize the need for excessive inventory. Additionally, the configurators can be integrated with pricing modules, providing customers with real-time cost estimates based on their customizations.

5. Data-Driven Insights: 3D CPQ solutions generate valuable data and insights about customer preferences, trends, and usage patterns. By analyzing this data, manufacturers can gain a deeper understanding of their target market, identify opportunities for product improvements, and make data-driven decisions. These insights can inform design iterations, marketing strategies, and future product development efforts, fostering continuous innovation and customer-centric approaches.

By utilizing 3D CPQ software, businesses can improve sales efficiency, and accelerate the time from the initial inquiry to the final order. It enables companies to offer highly customizable products or solutions while maintaining accuracy and profitability. Today most successful businesses use CPQ solutions to fulfill the emerging needs of customers. If you want to join the race, contact KBmax CPQ professionals to know how CPQ can help you grow your business. You can also check KBMax CPQ Software Reviews &amp; Ratings | 2023 before making the final decision.

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CPQ Cloud: The Future of Configure, Price, and Quote

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CPQ Cloud: The Future of Configure, Price, and Quote

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Configure, Price, and Quote (CPQ) software is a powerful tool that streamlines the sales process by automating complex product configuration, pricing, and quotes. It enables sales teams to quickly and accurately generate sales quotes and proposals, ensuring consistency and accuracy in both product configuration and pricing.

In today's highly competitive market, businesses must be agile and responsive to customers' ever-changing needs - CPQ software can help. CPQ enhances the customer experience, drives efficiency, and sets companies apart from competitors by enabling sales teams to deliver precise, timely, and personalized quotes.

Traditionally, CPQ software was deployed on-premises, requiring significant upfront investments in hardware, software, and IT resources. However, with the advent of cloud computing, companies are increasingly transitioning to cloud-based CPQ solutions, which offer several advantages over their on-premises counterparts.

In this article, we’ll delve into the numerous advantages (and some challenges) that cloud CPQ solutions offer buyers and sellers. We’ll explore the driving factors behind the impressive 17.5% compound annual growth rate (CAGR) of the cloud computing industry and provide compelling reasons for choosing cloud CPQ solutions over traditional on-premises alternatives.

Advantages of CPQ Cloud Software like Epicor CPQ

First, let’s look at some of the benefits that cloud CPQ brings to the table for manufacturing companies. From improved accessibility and collaboration to cost-effectiveness and enhanced security, cloud CPQ solutions can transform how your business creates and delivers value.

Advantage #1: Unparalleled Accessibility to Quoting Software

Cloud CPQ solutions provide remote accessibility from any internet-enabled device, allowing sales teams to collaborate effortlessly with engineering and other departments, whether remotely or in-office. This enhances productivity, accelerates sales cycles, and increases employee satisfaction.

Advantage #2: Increased Productivity through Real-Time Team Collaboration

Cloud CPQ fosters instant collaboration among team members, streamlining the quote creation process, sharing updates, and ensuring open communication. This enables customers, sales, engineering, and shop floor teams to configure products in real-time, keeping everyone informed with the most up-to-date information.

Advantage #3: Streamlined Sales with Seamless Integration of Additional Configured Software

Cloud-based CPQ solutions integrate effortlessly with existing CRM, ERP, CAD, and e-commerce platforms to create a unified sales and engineering environment. Customers can experience the benefits of self-serve configurations and a fully automated CPQ system that generates custom products without human intervention.

Advantage #4: Increased Adaptability for Business Growth and Evolving Needs

Cloud CPQ systems scale to accommodate growing demands and complexity, allowing businesses to quickly adapt to changes in sales processes, customer trends, or product features without incurring additional infrastructure or software costs.

Advantage #5: Reduced Upfront Costs and Easy Implementation

Cloud CPQ solutions eliminate the need for significant upfront investments in hardware, software, or IT infrastructure, facilitating quicker and more cost-effective adoption.

Advantage #6: Flexible, Predictable, and Affordable Subscription Models

Cloud-based CPQ solutions offer cost-effective, pay-as-you-go subscription models, enabling businesses to pay only for the resources they use. This makes CPQ adoption accessible for companies of all sizes.

Advantage #7: Lower Maintenance and Infrastructure Costs

With cloud CPQ, your vendor handles all maintenance, updates, and infrastructure, letting you reduce IT costs and focus on core business operations.

Advantage #8: User-Friendly, No-Code Options for Non-Technical Business Users

Sophisticated cloud CPQ systems provide no-code product and pricing rule engines, empowering non-technical users to create and maintain complex rules and reducing reliance on external resources.

Advantage #9: Comprehensive Security with Consistent Updates and Enhanced Data Protection

Cloud CPQ providers consistently protect their systems against security threats through regular updates and patches, guaranteeing businesses a secure and up-to-date CPQ solution. Additionally, robust data encryption and privacy feature safeguard sensitive customer, company, and manufacturing IP data, offering comprehensive security for your data.

Advantage #10: Compliance with Industry-Specific Regulations

Cloud CPQ providers frequently integrate industry-specific compliance features that aid businesses in conforming to regulatory requirements. By implementing product rules, compliance and customer satisfaction are ensured, regardless of who configures the product, thus minimizing the risk of fines, penalties, returns, and dissatisfied customers.

Challenges of Cloud CPQ

Cloud solutions generally offer reduced costs, ease of implementation and use, and heightened security compared to on-premises software, so they have become increasingly popular.

However, businesses must still navigate some challenges associated with cloud CPQ, which we delve into in this section.

Challenge #1: Overcoming Internet Dependency for Smooth Cloud CPQ Operations

Relying on a stable internet connection is crucial for the smooth operation of cloud CPQ solutions. In regions with limited or unstable internet connectivity, businesses may face difficulty accessing their CPQ system, leading to disrupted workflows and reduced productivity.

Challenge #2: Addressing Data Security Concerns in Cloud-Based CPQ Systems

Cloud CPQ providers invest heavily in securing their platforms, making data stored in their ecosystem far safer than on the average company’s servers.

Nevertheless, some businesses still have reservations about storing sensitive information in the cloud. The risk of data breaches or unauthorized access remains a concern for organizations handling confidential data, trade secrets, or intellectual property.

Moreover, certain countries enforce strict data sovereignty laws, requiring data to be stored within national boundaries. This can limit the use of some cloud CPQ solutions if they don't have data centers within the necessary jurisdiction.

Challenge #3: Tackling Limited Customization in Cloud CPQ Solutions

Cloud CPQ solutions are generally easier to customize than legacy, monolithic on-prem solutions. However, you still rely on your cloud CPQ vendor to provide the necessary freedom when it comes to customization. This can make it challenging for businesses with unique requirements.

Challenge #4: Navigating Vendor Lock-In and Ensuring Flexibility with Cloud CPQ Providers

Again, vendor lock-in is generally more of a concern with on-prem than with cloud software - integrating new systems is more accessible thanks to APIs, and you don’t need to worry about high up-front costs for licenses that mean you can’t afford to switch vendors.

However, there’s always difficulty when switching providers with time and resources required for data migration and system configuration. To minimize the risk, you should evaluate multiple providers and consider solutions to future-proof your operations.

Challenge #5: Balancing Ongoing Subscription Costs and Total Cost of Ownership in Cloud CPQ Solutions

While cloud CPQ solutions can reduce upfront costs, they often involve ongoing subscription fees. These fees can become a long-term expense for businesses, particularly if usage increases or additional features are required. Organizations should consider the total cost of ownership (TCO) when comparing cloud-based and on-premises CPQ solutions.

Conclusion

The future of Configure, Price, and Quote is CPQ in the cloud. As businesses continue to embrace digital transformation and seek innovative ways to streamline their sales processes, cloud-based CPQ solutions offer unparalleled accessibility, cost-effectiveness, and scalability while delivering exceptional customer experiences.

Though challenges such as internet dependency, data security concerns, and customization limitations may arise, the benefits of cloud CPQ far outweigh the drawbacks. By selecting the right vendor and carefully considering the total cost of ownership, your organization can embrace the future of CPQ and let the cloud propel your business to new heights.

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Use CPQ Software To Fleshing Out Your Complex Product 

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Use CPQ Software To Fleshing Out Your Complex Product 

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CPQ software is a powerful tool that helps streamline configuring complex products, generating accurate pricing, and producing detailed quotes. With the help of CPQ software, you can effectively flesh out your complex product's features, options, and pricing.  Using KBMax CPQ experts, you can integrate CPQ software with Customer Relationship Management (CRM) and Enterprise Resource Planning (ERP) systems. This integration enables seamless data exchange between systems, ensuring consistency and accuracy of information throughout the sales and order fulfillment processes.

Also, CPQ software often includes features enabling different stakeholders, such as sales representatives, managers, and customers, to review and collaborate on the configured product and quote. The complex product configurator allows seamless communication, feedback, and approvals, ensuring smooth and efficient quoting.

Here's how you can use CPQ software to achieve that:

1. Product Configuration: Complex product configurator allows you to define the various components, features, and options available for your complex product. It provides a user-friendly interface where you can easily select or configure the desired attributes of the product. The software ensures the chosen options are compatible and valid, preventing configuration errors.

2. Rules and Logic: CPQ software enables you to define business rules and logic associated with your product. These rules can include dependencies between different options or features. For example, if a customer selects a specific component, the software can automatically suggest or restrict other compatible or incompatible options. By defining these rules, you ensure accurate configurations and prevent incompatible combinations.

3. Pricing and Discounts: CPQ integration platform incorporates pricing rules and algorithms to calculate the cost of the configured product. It considers factors like component costs, labor charges, overheads, and profit margins to generate accurate pricing.

4. Quote Generation: Once the product configuration and pricing are finalized, CPQ software can generate detailed quotes or proposals. The software automatically populates the quote with the selected options, pricing details, terms and conditions, and other relevant information. This eliminates manual errors, saves time, and ensures consistency in quote generation.

Challenges associated with complex product configurator

A complex product configurator can present several challenges, both from a technical and a business perspective. Here are some common challenges associated with complex product configurators:

1. Data Management: Complex product configurators typically require extensive product data management. This includes maintaining accurate and up-to-date information about various product options, features, pricing, compatibility, and dependencies. Managing this data can be challenging, especially when dealing with many configurable components and variations.

2. System Complexity: Implementing a CPQ integration platform involves integrating multiple systems and databases, such as product catalogs, inventory management, pricing engines, and CRM systems. Coordinating these systems and ensuring seamless data flow can be complex and require robust integration mechanisms.

3. User Experience: Designing an intuitive and user-friendly interface for a complex product configurator can be challenging. Balancing complexity and simplicity is crucial to avoid overwhelming users while providing them with enough flexibility to configure the product according to their needs. Users should be able to navigate through various options, understand the impact of their choices, and visualize the final product accurately.

4. Rule Management: Configurators rely on rules and constraints to ensure valid configurations and prevent incompatible combinations. Defining and managing these rules can be complex, especially for products with numerous interdependencies and restrictions. Ensuring that rules are accurate, consistent, and easily maintainable requires careful planning and robust rule management mechanisms.

5. Scalability: A CPQ integration platform must handle many product options and configurations efficiently. As the number of configurable components and variations increases, the configurator should be able to scale without compromising performance. Ensuring scalability can be a significant technical challenge, especially during peak usage periods or when dealing with complex product configurations.

Addressing these challenges requires technical expertise, robust data management practices, effective user interface design, and rigorous testing procedures. Collaboration between business stakeholders, IT teams, and end-users is crucial to understanding requirements, managing complexity, and delivering.

Conclusion:

KBMax CPQ software effectively empowers businesses to flesh out complex product features, options, and pricing. It simplifies the configuration process and easily integrates with other systems for a seamless end-to-end sales process. If you want to integrate Epicor CPQ, contact our experts now, or you can check KBMax CPQ Software Reviews & Ratings | 2023.

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Why Use CPQ Software For Manufacturing Complex Products?

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Why Use CPQ Software For Manufacturing Complex Products?

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CPQ software for manufacturing has become a necessity to manufacture a leading-edge product. It helps businesses to enhance efficiency, accuracy, and customer satisfaction. CPQ software for manufacturing simplifies the configuration and pricing of complex products and quoting processes. It also enables manufacturers to deliver customized products and improve order accuracy. This, in turn, helps manufacturers stay competitive, increase sales, and optimize their operations.

Complex products often have various customizable options and features. CPQ software for manufacturing allows manufacturers to define and manage these configurations effectively. It ensures that the selected options are compatible and feasible, reducing errors and rework in manufacturing.

Also, pricing complex products accurately can be challenging due to the numerous variables involved, such as different features, components, and configurations. CPQ software for manufacturing automates the pricing process based on predefined rules, ensuring consistency and accuracy. It considers various factors, such as costs, discounts, margins, and market conditions, to generate precise and competitive pricing for each configured product.

Here are some reasons to emphases why to use CPQ software for manufacturing

1. Quoting Efficiency: When done manually, creating quotes for complex products can be time-consuming and error-prone. CPQ for manufacturing streamlines the quoting process by automating the generation of quotes based on the customer's selected configuration. It pulls the relevant pricing, product information, and terms and conditions, eliminating manual calculations and reducing the chance of errors. This increases quoting speed, improves responsiveness, and enhances the overall customer experience.

2. Streamlined Sales Process: CPQ for manufacturing provides sales teams with a user-friendly interface that guides them through the product configuration process. It ensures that sales representatives select valid options and combinations, minimizing the risk of errors. The software also offers cross-selling and upselling suggestions, helping sales teams identify opportunities to increase revenue.

3. Enhanced Collaboration: Collaboration between different departments is crucial in manufacturing complex products. CPQ for manufacturing is a centralized platform enabling collaboration among sales, engineering, production, and other teams. It provides a shared repository of product knowledge, rules, and configurations, ensuring that everyone works with the same accurate information. This facilitates effective communication and collaboration, reducing misunderstandings and accelerating manufacturing.

4. Scalability and Flexibility: CPQ for manufacturing can handle many product options, configurations, and pricing rules. It adapts to changing business requirements, allowing manufacturers to introduce or modify new products without extensive reconfiguration. This scalability and flexibility enable manufacturers to quickly respond to market demands and maintain a competitive edge.

CPQ In Manufacturing Plays A Vital Role

CPQ in manufacturing plays a vital role in manufacturing for several reasons.

1. Product Configuration: In manufacturing, products can be highly customizable and complex. CPQ in manufacturing allows manufacturers to configure products based on customer requirements and specifications. It ensures that the right components, features, and options are selected and integrated into the final product. This capability streamlines the configuration process and ensures accuracy, reducing errors and rework.

2. Pricing Accuracy: CPQ in manufacturing helps manufacturers accurately calculate configured product prices. Pricing rules, discounts, promotions, and other factors can be programmed into the system, ensuring consistency and eliminating manual errors. Manufacturers can also factor in costs such as raw materials, labor, and overheads to determine the final price. This helps in maintaining profitability and competitiveness.

3. Quoting Efficiency: Generating accurate and timely quotes is crucial in manufacturing. CPQ in manufacturing automates the quotation process, enabling sales teams to generate professional quotes based on customer requirements quickly. By streamlining the process, manufacturing CPQ software reduces the time and effort required to create quotes, improving response times and increasing customer satisfaction.

4. Order Accuracy: A CPQ system ensures the order details are accurate and complete. It eliminates the risk of miscommunication or misunderstanding during the sales process, as all product configurations and pricing details are captured within the system. This minimizes order errors, such as incorrect product specifications or missing components, improving order fulfillment and customer satisfaction.

If you own a manufacturing firm and want to unleash the proven potential of KBMax CPQ, contact us for an in-depth discussion with our CPQ experts. Also, feel free to check KBMax Review: Pricing, Pros, Cons & Features for making data-driven decisions.

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Effective CPQ Implementation For Efficiency and Success

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Effective CPQ Implementation For Efficiency and Success

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CPQ implementation can greatly enhance efficiency and success in your sales process. It clearly identifies the goals and objectives you want to achieve with your CPQ implementation. This could include streamlining the quoting process, reducing errors, improving sales rep productivity, increasing quote accuracy, or enhancing the customer experience.

With the proper CPQ integration, businesses can evaluate existing sales processes, including creating quotes, pricing strategies, product configurations, and approval workflows. For successful implementation of CPQ for eCommerce, it's necessary to identify pain points, bottlenecks, and areas that can be improved with CPQ automation.

CPQ implementation is not a one-time event but an ongoing process. Regularly assess your CPQ system's performance, make necessary updates, and adapt to changing business needs to ensure long-term success. Here are some tips for successful CPQ implementation.

Define clear objectives and requirements

Before implementing CPQ for eCommerce, defining clear objectives and requirements is crucial. Engage stakeholders from sales, marketing, finance, and IT departments to understand their specific needs and pain points. Identify key performance indicators (KPIs) that will measure the success of the implementation, such as improved quote accuracy, reduced quote-to-close time, and increased sales productivity. Clear objectives and requirements will serve as guiding principles throughout the implementation process.

Choose the right CPQ solution

Selecting the right CPQ for eCommerce is vital. Evaluate different vendors and solutions based on factors such as functionality, scalability, ease of integration with existing systems, and user-friendliness. Consider factors specific to your industry or business, such as complex pricing structures, product configurations, or global sales operations. A thorough evaluation will help you choose a solution that aligns with your requirements and has the potential for long-term success.

Involve key stakeholders

Successful implementation of the CPQ process requires collaboration and involvement from key stakeholders across the organization. Sales representatives, product managers, finance teams, and IT professionals should be engaged from the outset to provide valuable insights and ensure that the solution caters to their needs. Encourage open communication, gather feedback, and address concerns throughout the implementation process. Involving stakeholders fosters a sense of ownership and increases the chances of adoption and success.

Streamline processes and data

Before implementing the CPQ process, take the opportunity to review and streamline existing sales processes and data. Identify areas of inefficiency, redundant steps, or bottlenecks that can be addressed during the implementation. Cleanse and consolidate product data, pricing information, and sales collateral to ensure accuracy and consistency. Streamlining processes and data lays a strong foundation for the CPQ system to operate effectively.

Provide comprehensive training and support

CPQ implementation involves a significant change in sales processes and workflows. To ensure a smooth transition, invest in comprehensive training and support for users to ensure a smooth transition. Conduct training sessions to familiarize sales teams with the new system, highlighting its benefits and addressing any concerns. Provide ongoing support and resources to help users adapt and optimize their usage. Additionally, establish a feedback mechanism to continuously improve the CPQ system based on user experiences and suggestions.

Monitor, analyze, and optimize

Implementing the CPQ process is not a one-time event. Continuously monitor and analyze the system's performance against the defined KPIs. Leverage analytics and reporting tools within the CPQ solution to gain insights into quoting accuracy, sales cycle times, pricing trends, and revenue generation. Identify areas for improvement and fine-tune the CPQ for eCommerce accordingly, and regularly communicate with stakeholders to inform them about the benefits and progress achieved through CPQ implementation.

Conclusion

A well-planned and executed CPQ implementation can significantly enhance sales efficiency, accuracy, and customer satisfaction. If you want to embrace the CPQ process as a strategic tool to empower sales teams to deliver accurate quotes, and drive revenue growth, contact KBMax. Our professional team helps you define clear objectives, select the right solution and proper CPQ integration, and provide comprehensive training and support. We also help you continuously monitor and optimize your business process to achieve success with CPQ initiatives. Check out the latest KBMax CPQ Reviews 2023 - Capterra, to know more!

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Unleashing the Power of CPQ To Streamline Sales

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Unleashing the Power of CPQ To Streamline Sales

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As a business owner, if you wonder what is CPQ, then you are not alone. Various businesses know the importance of CPQ benefits and why CPQ has become a business priority.

CPQ is a powerful tool businesses utilize to streamline their sales processes and drive efficiency. By integrating CPQ product rules into their sales workflow, companies can simplify complex product configurations, accurately price their offerings, and generate professional quotes in a fraction of the time it would traditionally take.

Furthermore, with CPQ 3d configuration, sales reps can generate professional and polished quotes with just a few clicks, complete with accurate product details, pricing breakdowns, and optional add-ons. This enhances the professionalism of sales proposals and accelerates the quoting process, enabling faster response times and increased customer satisfaction.

Companies continually seek cutting-edge solutions to improve their sales operations and gain a competitive edge in today's fast-paced business environment. Epicor CPQ software is one such option that has attracted a lot of interest. By giving sales teams an effective tool to simplify complicated sales cycles, improve productivity, and spur revenue development, CPQ is revolutionizing how sales teams work. Let’s understand what is CPQ.

What is CPQ

CPQ software is designed to automate and optimize the end-to-end sales process, from configuring a product or service to pricing and generating a quote. CPQ product rules eliminates the need for manual calculations, reduces errors, and accelerates the sales cycle.

Key Advantages of CPQ 3D Configuration

One of the key advantages of CPQ 3D configuration is its ability to handle complex product configurations. In many industries, products, and services come with various options, features, and pricing structures. Manually navigating through these configurations can be time-consuming and error-prone. CPQ software simplifies this process by providing a guided selling experience, where sales reps can select the appropriate options, view real-time pricing and discounting information, and ensure that the proposed solution aligns perfectly with the customer's needs. This saves time and ensures accuracy, as the system eliminates the possibility of human errors.

Moreover, CPQ product rules empower sales teams to optimize pricing strategies. By integrating with pricing analytics and rules engines, CPQ 3D configuration can recommend the most profitable pricing structures. Sales reps can access these insights in real-time, enabling them to make informed pricing decisions that maximize revenue while staying competitive in the market. This level of agility and intelligence enables organizations to adapt quickly to changing market dynamics and gain a significant advantage over their competitors.

Another reason why CPQ is a must for businesses is because it seamlessly integrates with other business systems. CPQ can integrate with CRM platforms, ERP systems, and other backend applications to create a unified sales ecosystem. This integration eliminates data silos and enables sales reps to access customer information, inventory data, and other critical details in a centralized location. By having a holistic view of the customer and product information, sales teams can deliver personalized experiences, reduce administrative overhead, and make data-driven decisions throughout the sales process.

CPQ product rules enhance collaboration and communication within the sales team and across different departments. With CPQ, sales reps can easily collaborate with product managers, engineers, and finance teams to address customer requirements and resolve configuration or pricing challenges. CPQ's collaborative capabilities enable organizations to break down organizational silos, foster cross-functional teamwork, and ensure everyone is aligned to deliver the best customer experience.

Conclusion:

CPQ 3d configuration software has emerged as a game-changer in the sales world. Its ability to automate complex configurations, optimize pricing strategies, and integrate with others makes it an indispensable tool for organizations aiming to shorten their sales processes.

By leveraging Epicor CPQ product rules, businesses can accelerate sales cycles, increase productivity, and drive revenue growth. As the competition intensifies and customer expectations continue to rise, embracing CPQ is not just a choice but a strategic imperative for organizations that seek to thrive in today's dynamic marketplace. Hope now you got the answer to what is CPQ. Contact KBMax CPQ experts to learn more about why CPQ is essential and how Epicor CPQ product rules can help you calculate precise quotes.

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CPQ Software Implementation: Best Practices and Pitfalls

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CPQ Software Implementation: Best Practices and Pitfalls

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For manufacturers, configuring, pricing, and quoting products can be a time-consuming, complex, and error-prone process. The good news is that CPQ software can streamline and automate these tasks, improving sales effectiveness, enhancing the customer experience, and increasing efficiency in the sales process.

According to research by Epicor, CPQ can lead to a substantial 40% increase in the average conversion rate and a remarkable 105% growth in deal size. Additionally, it delivers exceptional cost savings of up to $2.9 million by reducing errors, making it an essential investment for any business selling complex, configurable products.

However, implementing CPQ software can be challenging, and there are pitfalls to avoid. This article will explore the best practices for CPQ software implementation and the most common mistakes.

Benefits of Configure Price Quote CPQ

Implementing CPQ software can bring a range of benefits to manufacturers, including:

Improved Sales Effectiveness

CPQ software streamlines the configuration, pricing, and quoting of complex products, allowing sales teams to provide quotes quickly. Automating manual processes, CPQ reduces the time and effort needed to generate quotes and improves accuracy, boosting productivity and effectiveness for sales teams and leading to a faster sales cycle and more closed deals.

Increased Engagement in the Sales Process

CPQ software lets salespeople and customers configure products visually by interacting with 3D renderings. The experience is not only engaging and enjoyable, but it also boosts transparency and clarity, which aids decision-making and reduces purchase anxiety. As a result, CPQ can increase conversion rates by 40%.

Enhanced Customer Satisfaction

CPQ software provides customers with a personalized experience by allowing them to configure products to their specific needs and budgets. This increases customer satisfaction, which builds loyalty and retention.

Improved Accuracy in Pricing and Quoting

By eliminating error-prone manual processes, CPQ software ensures accurate pricing and quotes. This can help manufacturers maintain profitability and reduce the risk of losing deals due to avoidable and frustrating mistakes.

CPQ Implementation Guide: Best Practices to Follow

To ensure the successful implementation of CPQ software, manufacturers should follow these best practices:

Define clear goals and objectives

Establish the purpose and desired outcomes of the CPQ software implementation, such as increased sales effectiveness, improved customer experience, or reduced time and effort for configuring, pricing, and quoting products.

Why? Defining clear goals will help ensure that the software meets the needs of the business, provides a return on investment, and enables measurable improvements in key performance areas.

Conduct a thorough needs assessment

Identify critical requirements for the CPQ software with input from all stakeholders, including sales teams, IT teams, and end-users. Consider any existing processes or systems that need integration and unique business requirements.

Why? A comprehensive needs assessment will help create a tailored solution that addresses specific pain points and optimizes overall efficiency.

Choose the right software and vendor

Evaluate options based on functionality, ease of use, scalability, and cost. Select a vendor with experience in your industry who can provide adequate training and support.

Why? Choosing the right software and vendor will result in a smoother implementation process, faster end-user adoption, and long-term benefits such as improved productivity and customer satisfaction.

Plan resources for the long run

Consider current and future needs, such as scalability, integration, customization, and security, while allocating resources for the implementation process.

Why? Planning resources effectively ensures that CPQ software remains relevant and adaptable as your business grows and changes, resulting in ongoing benefits and a lower total cost of ownership.

Involve stakeholders and end-users

Engage all relevant parties in the implementation process, provide training and support, and ensure their buy-in and support for the software.

Why? Involving stakeholders in the process helps to align the software with their specific needs, improves user adoption rates, and increases overall satisfaction with the solution, leading to tremendous long-term success.

Ensure data accuracy and completeness

Clean up existing data, establish data governance processes, and integrate the software with existing systems to provide accurate pricing and quotes.

Why? Ensuring data accuracy not only improves the CPQ software's reliability but also helps eliminate errors, reduce costs associated with inaccurate quotes, and enhance customer trust in your business.

Approach the project with a change management mindset.

Communicate the benefits of the software, establish a governance structure to manage changes, and support users throughout the implementation process.

Why? Effective change management ensures a smoother transition, minimizes disruptions to the business, and promotes a positive perception of the software among end-users, leading to higher adoption rates and long-lasting benefits.

Prevent scope creep

Clearly define and adhere to the implementation's scope, budget, timeline, and deliverables to avoid unnecessary changes or complications.

Why? Preventing scope creep ensures that the project stays on track, avoids delays and cost overruns, and delivers the expected benefits, ultimately leading to a more successful implementation.

“Over-index” for training and support

Provide comprehensive training for end-users on the software and ongoing support for updated features and functionality.

Why? Adequate training and support empower users to leverage the software effectively, leading to increased productivity, reduced errors, and improved overall job satisfaction.

Continuously monitor and improve.

Regularly review the software's functionality, solicit end-user feedback, and establish a governance structure to manage changes and improvements to ensure ongoing effectiveness.

Why? Continuously monitoring and improving the CPQ software helps to address emerging challenges, adapt to evolving business needs, and maximize the return on investment, resulting in sustained benefits over time.

Common Pitfalls to Avoid in CPQ Implementation

Implementing CPQ software has the potential to revolutionize your business and enhance the way you provide value to your customers. However, successful implementation is not guaranteed.

To maximize adoption, time-to-value, and ROI, beware of the following pitfalls:

1. Failing to adequately plan and prepare, including neglecting needs assessment, stakeholder involvement, and appropriate software/vendor selection.

2. Overlooking stakeholder buy-in, neglecting communication of software benefits, and poor change management, resulting in unsuccessful adoption and departmental misalignment.

3. Neglecting to provide sufficient training, support, resources, and incentives for end-users while ignoring resistance or reluctance to adopt new software.

4. Allowing persistence of poor data quality and not establishing effective data governance processes.

5. Overcomplicating the system, disregarding the selection of software that meets business needs without unnecessary complexity, and pursuing excessive customization.

6. Underestimating the impact of legacy systems and neglecting to develop a risk mitigation plan.

7. Fostering a risk-averse organizational culture and not encouraging innovation and continuous improvement.

8. Underestimating the necessary budget for successful implementation.

9. Developing an ineffective communication plan and failing to address expectations, concerns, and feedback.

10. Adopting a 'go it alone' approach, ignoring the value of external partners such as consultants, vendors, or system integrators.

11. Failing to properly define business processes, leading to misalignment with software requirements and capabilities.

12. Overlooking the significance of validation and neglecting to test and comply with relevant regulations or guidelines.

Conclusion:

Unlocking the potential of CPQ software can skyrocket your sales effectiveness, customer satisfaction, and efficiency. But remember: achieving these stellar results hinges on following best practices and steering clear of common pitfalls.

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The Benefits of Integrating CPQ Tools with Your ERP System

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The Benefits of Integrating CPQ Tools with Your ERP System

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In today's manufacturing landscape, it is vital for companies specializing in customizable production to employ an ERP and CPQ package during the pre-production phase. The challenge lies in effectively integrating these two systems. 

Manufacturers can establish a streamlined, digital, and scalable pre-production workflow by seamlessly incorporating our CPQ implementation guide on the integration of CPQ with  ERP to foster a harmonious relationship.

Seamlessly Unifying CPQ and ERP for Enhanced Efficiency

Integrating your CPQ Tool (Configure, Price, Quote) and ERP (Enterprise Resource Planning) systems enables you to merge front and back-of-house processes. 

On the front end, your CPQ resources handle vital tasks such as sales management, pipeline tracking, and generating quotes. Meanwhile, your ERP system manages essential back-end operations like inventory management, production, fulfillment, and invoicing. Despite their separation, these processes heavily rely on data from each other to function optimally.

For instance, your sales team requires real-time visibility into inventory levels and order fulfilment status to carry out their responsibilities effectively. Conversely, your ERP system needs information about sales, pipeline activities, and quotes to accurately manage inventory, fulfil orders, and generate customer invoices. Consequently, constant data exchange is necessary between the CPQ and ERP systems.

Integrating CPQ Tool and ERP automates data exchange, minimizing the risk of human error, accelerating processes, and facilitating bidirectional data sharing. This integration streamlines operations, eliminates manual inefficiencies, and enhances visibility for both sides of the business. With CPQ in place, conversion rates increase by 40%, and deal sizes grow by 105%.

Maximize Efficiency with CPQ and ERP Integration

When skillfully implemented, the integration of your CPQ software implementation guide with ERP (Enterprise Resource Planning) systems brings forth significant advantages:

Increased Efficiency and Accuracy

At the core of CPQ-ERP integration lies the ability to streamline complex workflows, eliminate manual data transfers, and establish a unified platform for managing the entire quote-to-cash process. 

Enhance your business operations by seamlessly integrating your CPQ resources with ERP, apps, and core systems. The key lies in utilizing REST web services, MuleSoft’s universal connectivity layer, or ready-to-use configurations. This eliminates the need for manual data entry, reducing the risk of errors and ensuring data consistency throughout the process. Sales orders generated from CPQ software implementation with ERP systems, enabling smooth handoffs to manufacturing, supply chain, and financial departments. 

Real-time data synchronization between CPQ and ERP systems provides enhanced visibility and control over the entire quote-to-cash process. Sales representatives can access up-to-date product information, inventory levels, pricing, and customer data directly within the CPQ interface. This empowers them to make informed decisions, accurately configure complex products, and provide customers with accurate quotes on the spot.

Improved Sales Performance:

In the realm of sales, the integration of CPQ tool (Configure, Price, Quote) and ERP (Enterprise Resource Planning) systems proves instrumental in enhancing overall sales performance. 


Enhancing Quote Accuracy: 
The integration of CPQ and ERP allows for seamless data flow between systems. Sales reps can access customer and product data from the ERP system, ensuring the accuracy and consistency of information throughout the quoting process. 


Forecasting Future Sales: 
By analyzing patterns, seasonality, and customer buying behaviours. ERP systems utilize historical sales data, market trends, and predictive analytics to forecast future sales. Integrating the CPQ tool and ERP ensures that sales reps can access real-time sales data, enabling them to align their efforts with the predicted sales targets.

Enhanced Data Visibility

Through CPQ-ERP integration, businesses can seamlessly collect, consolidate, and analyze data from various touchpoints, including product configuration, pricing, quoting, order management, inventory, and customer information. This consolidated data empowers organizations to gain valuable insights into their sales pipeline, understand customer preferences, identify trends, and make data-driven decisions. 

This eliminates silos and data discrepancies that may arise when managing multiple systems independently, enhancing operational efficiency and reducing the risk of errors.

Organizations can gain a holistic view of customer interactions, preferences, and buying patterns by combining front-end CPQ processes, such as product configuration and quoting, with back-end ERP functionalities like inventory and order management.

Increased ROI and Scalability 

Through CPQ software implementation with ERP, businesses can quickly generate accurate and tailored quotes, incorporating complex product configurations, pricing options, and discount structures. This integration effortlessly creates CAD drawings, bills of materials, assembly instructions, parts lists, product renderings, and much more with zero input required from engineering.

By eliminating manual errors and streamlining the quotation process, companies can respond to customer inquiries promptly and effectively, maximizing their chances of closing deals. The integration also enables real-time access to inventory levels, pricing updates, and customer data, ensuring that quotes are based on up-to-date information.

CPQ-ERP integration empowers businesses with a unified platform that optimizes the sales-to-production workflow. It harmonizes the front-end and back-end processes, enabling effective collaboration between sales, engineering, manufacturing, and supply chain teams. This alignment eliminates bottlenecks, reduces errors, and accelerates the time-to-market for customized products and services. 

Final Words

Epicor CPQ, when integrated with ERP, offers a comprehensive solution that enables businesses to integrate across multiple platforms seamlessly. These platforms include: 

ERP systems like Oracle, SAP, or NetSuite; 
CRM/CPQ tools such as Salesforce; 
CAD systems like SolidWorks or Creo; and 
PLM software like Propel.
Sales representatives benefit from timely access to critical information, including lead times and delivery statuses, through Epicor CPQ- ERP integrated features resulting in improved customer satisfaction through effective communication. Senior leaders can stay on top of sales and pricing processes, ensuring alignment with business goals. Operations teams can gain insights into trends that help continuously improve processes keeping the organization at the leading edge in the market.

Discover the in-depth KBMax review, covering pricing, pros, cons, and features. Take a closer look and make an informed choice for your business!

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3D Configurator: Worth the Investment or Waste of Resources?

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3D Configurator: Worth the Investment or Waste of Resources?

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A 3D configurator is an interactive digital tool that allows users to customize and visualize products or objects in three-dimensional space.

Typically used in automotive, furniture, architecture, and fashion, these configurators enable customers to modify various features, such as colors, materials, textures, and components–and see the results in real-time.

As products become more complex and configurable, the use of 3D configurators is rapidly spreading across industries that were previously reliant on human sales representatives.

But is a 3D configurator a good investment or a waste of resources that could be better spent elsewhere? It’s an ongoing debate we will attempt to resolve in this article. Read on for the benefits, the challenges, and the verdict.

The Benefits of 3D Configuration

Here are the benefits 3D configurators offer and why 3D configuration technology is skyrocketing in the manufacturing industry.

Enhanced Customer Experience

The customer experience is vital to the success of every business. But in crowded, undifferentiated markets where global and domestic competition is fierce, customer experience is paramount.

A 3D configurator can elevate customer experiences from slow, boring, and stale to fast, engaging, and immersive. Manufacturers can create interactive experiences where customers can visualize lifelike product models and customize them in real-time.

An increased level of engagement and transparency improves customer satisfaction and loyalty. Once you’ve got used to using a 3D product configurator, you never want to return to the old ways of endless part numbers and codes, fat paper catalogs, and tedious in-person meetings.

3D configurators increase clarity as well as engagement. When buying complex configurable products, the ability to visualize choices and make fully informed decisions makes buyers feel confident and empowered, increasing their satisfaction and your conversion rate.

Because customers see finished products before they’re shipped, manufacturers experience fewer returns, ultimately bolstering their bottom line.

Customization, Configuration, and Personalization Options

As we move from a world of mass production to one of mass customization, buyers are increasingly demanding personalized products. Manufacturers must adapt to remain competitive.

3D configurators unlock an unparalleled level of customization, letting customers interact with products, make changes, and watch their creations come to life on screen. They can choose from hundreds, thousands, or even millions of options and attributes.

3D configuration increases customer satisfaction–buyers get products that perfectly solve their problems. Manufacturers can capture a larger market share by catering to buyers who wouldn’t be interested in their once-limited selection.

Real-Time Pricing and Quotes

Today’s B2B customers have been conditioned to expect Amazon-level customer experiences whenever they buy for business or pleasure. This means the old way of configuring a product with a sales rep and waiting for days or weeks for a final quote is no longer acceptable.

By implementing a system like Epicor CPQ, manufacturers can seamlessly integrate 3D configurators with real-time pricing and quoting capabilities. This enables customers to visualize the impact of their configuration choices on the final price and conveniently download a quote once they are satisfied with their selections. In turn, this streamlines sales cycles, bolsters decision-making, and ultimately saves both time and money for customers.

B2B eCommerce and Self Serve

By integrating 3D configurators across various sales channels, manufacturers can expand their reach and enhance customer engagement. In-person meetings between sales representatives and potential clients can be enriched through the collaborative use of 3D configurators. Additionally, distributors and retailers gain the ability to utilize these configurators when assisting end customers, further streamlining the sales process.

Crucially, manufacturers can also embed configurators directly into their websites, empowering buyers to conveniently explore and customize products from any location. With the growing trend towards eCommerce, incorporating such interactive tools has become a critical component for success in numerous industries.

Boosting Communication and Collaboration

Sales, engineering, and manufacturing teams often operate in silos, each employing distinct technical languages and systems, hindering effective communication. Seamless interaction between these departments is crucial for a streamlined engineer-to-order process and reduced lead times.

3D configurators bridge the communication gap by providing a shared visual platform, unifying divergent departments, and minimizing miscommunications and misunderstandings.

Incorporating product constraints into the configurator validates configurations at the front end, ensuring that only flawless designs reach the engineering and manufacturing stages. This approach reduces the need for additional checks and human intervention, ultimately boosting efficiency and productivity.

Lower Costs

3D configurators enhance sales by streamlining and simplifying the steps in selling customizable products. This automation significantly reduces the need for human interaction and, in the case of self-serve options, can potentially eliminate it altogether. As a result, manufacturers can lower their labor costs.

Moreover, virtual assessment of customization options eliminates the need for expensive physical prototypes or samples. This allows design issues to be identified and resolved early in the engineer-to-order process, preventing costly downstream repercussions and reducing the likelihood of dissatisfied customers returning products.

The Challenges and Drawbacks of 3D Configuration

3D configurators aid personalization, engagement, transparency, and conversion rates, but what about the downsides?

High Initial Investment

In the past, on-premises 3D configurators were a costly investment, with expenses such as software licenses, development, and ongoing management and maintenance making them accessible only to larger enterprises.

However, the landscape has shifted with the advent of cloud computing and the SaaS (software as a service) business model, which have democratized access to 3D configurators for businesses of all sizes.

Rather than building an in-house solution, manufacturers can now effectively "lease" a 3D configurator and access it remotely via their web browser. Vendors handle maintenance while offering a pay-as-you-go subscription model, making it a more manageable and less risky option for small businesses.

Adoption and Return on Investment

Promoting the adoption of innovative software in the manufacturing sector can present numerous hurdles. Given that the workforce within this industry is generally older and accustomed to well-established routines for product configuration and sales, employees may display a specific resistance to change.

Existing employees’ apprehension could stem from concerns about potential disruptions or a lack of necessary technical skills to harness cutting-edge technologies. Although upskilling employees is an option, it can be a costly and time-consuming endeavor with no guarantee that they will ultimately embrace the new solution once they acquire the necessary skills.

Software Compatibility and Integration Problems

Manufacturing businesses typically use multiple back-office and shop-floor legacy systems that can make integrating 3D configurators software complicated. Integration with outdated on-premises solutions can still be tricky. But at least you know that integrating with existing and future SaaS software will be straightforward. The key here is to use cloud-based 3D configuration software that integrates seamlessly via APIs.

Over-Reliance on Technology

Manufacturing sales have traditionally relied on high-touch interactions, with knowledgeable and trusted sales representatives building long-term client relationships over decades.

However, the increasing use of 3D configurators, particularly when integrated into websites and offering self-serve options, poses a risk of automating the human aspect out of the business, which could lead to losing touch with customers' genuine wants and needs.

Constant customer interaction provides manufacturers with valuable insights into market sentiment, customer preferences, and competitor behavior that are difficult to obtain through a web interface alone.

Navigating this conundrum is challenging as the B2B landscape undergoes significant digitization. Digital-native millennials are assuming decision-making roles in purchasing within major organizations. They prefer researching the market and placing orders independently rather than interacting with sales representatives. This trend will only increase as Gen Z enter the frame.

To maintain a strong connection with the industry, manufacturers must continue to engage with their customers proactively. This engagement doesn't necessarily have to be a sales call. It can be a gesture demonstrating care and commitment to customer relationships and a means of ensuring manufacturers stay in tune with the evolving market landscape.

Verdict: Is 3D CPQ Software a Worthwhile Investment?

In short, yes.

The effectiveness of 3D configurators becomes evident when examining the tangible outcomes achieved by manufacturers who utilize them. Take, for instance, companies using Epicor CPQ's 3D configurators, which achieve an average increase in conversion rates of 40%.

The widespread availability and affordability of SaaS solutions have made the initial investment in 3D configurators highly justifiable for most businesses, considering the substantial returns they can garner.

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How The Best CPQ Software Boost Business Productivity

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How The Best CPQ Software Boost Business Productivity

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Enterprise software with CPQ offers numerous benefits for businesses of all sizes. Firstly, it streamlines the sales process by enabling sales teams to configure complex products and services accurately and efficiently. With configure price quote software, sales representatives improve sales productivity and faster quote generation, allowing businesses to respond to customer inquiries promptly.

The best CPQ software enhances the overall customer experience by providing real-time quotes, reducing the time taken for negotiations, and enabling faster order processing.

Moreover, enterprise software with CPQ enables businesses to maintain consistent pricing across different channels, preventing revenue leakage and reducing pricing errors. It also provides:

Advanced analytics and reporting capabilities.

Allowing companies to gain valuable insights into sales performance.

Customer preferences.

Market trends.

Ultimately, enterprise software with CPQ  empowers businesses to streamline their sales operations, increase efficiency, improve customer satisfaction, and drive revenue growth.

5 Ways configure price quote software Benefits Businesses

Here are five ways the best CPQ software can improve an organization's efficiency by accelerating contract closings:

Streamlined Sales Process

The best CPQ software automates and simplifies the complex sales process, eliminating manual errors, reducing administrative tasks, and increasing the overall speed of sales cycles. By integrating product configuration, pricing, and quoting into a single platform, sales teams can quickly generate accurate quotes, ensuring consistency and reducing the time spent on manual calculations and paperwork. This streamlined process allows sales representatives to focus more on building customer relationships and closing deals, leading to increased productivity.

Enhanced Sales Efficiency

Efficiency is a critical factor in driving business productivity. The configure price quote software optimizes sales efficiency by providing sales teams with real-time access to product catalogs, pricing information, and configuration rules. This enables sales representatives to create customized quotes on the spot, eliminating the need for back-and-forth communication with product specialists or pricing teams. With a user-friendly interface and guided selling features, the best CPQ software empowers sales teams to navigate complex product configurations effortlessly, resulting in quicker and more accurate quotes.

Improved Quote Accuracy

Quote accuracy plays a vital role in reducing costly errors and avoiding potential customer dissatisfaction. Configure price quote software ensures that every quote generated is accurate and consistent by automating pricing calculations and applying predefined business rules. Sales teams can access up-to-date pricing information, including discounts, promotions, and bundling options, eliminating the risk of quoting outdated or incorrect prices. By minimizing errors and delivering precise quotes, businesses can enhance their credibility and customer satisfaction, increasing productivity and repeat business.

Cross-Selling and Upselling Opportunities

The best CPQ software provides valuable insights into customer preferences, historical purchasing data, and product compatibility. This data empowers sales teams to identify cross-selling and upselling opportunities during the quoting. Sales representatives can maximize revenue per deal by suggesting complementary products, upgrades, or additional services that align with customer needs. CPQ software enables sales teams to capitalize on these opportunities seamlessly, without manual research or extensive product knowledge, resulting in increased average deal size and improved overall sales productivity.

Integration with CRM and ERP Systems

CPQ software's integration with Customer Relationship Management (CRM) and Enterprise Resource Planning (ERP) systems further enhances business productivity. The integration allows seamless data flow between the different platforms, ensuring that all relevant customer and product information is readily available to sales teams. This integration minimizes manual data entry, eliminates duplicate efforts, and provides a holistic view of customer interactions and transaction history. With a comprehensive understanding of each customer's needs and preferences, sales teams can offer personalized solutions, fostering more robust customer relationships and driving business productivity.

Conclusion:

The best CPQ software is a game-changer for businesses aiming to improve productivity and efficiency in their sales processes. CPQ software empowers sales teams to focus on value-added activities and achieve higher sales volumes. Embracing CPQ technology boosts business productivity and enhances the overall customer experience, leading to long-term growth and success. Contact Kbmax CPQ software vendors for the successful implementation of CPQ software. Check KBMax CPQ Software Reviews & Ratings | 2023 to learn more about our services and offerings.

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Why CPQ Matters: Transforming Your Sales Process for Efficiency and Profitability

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Why CPQ Matters: Transforming Your Sales Process for Efficiency and Profitability

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In the race to optimize sales performance and stay ahead of the competition, many businesses are turning to CPQ (Configure, Price, Quote) solutions as a powerful tool to enhance efficiency and profitability in the sales process. With CPQ, they can generate accurate quotes and proposals without the typical delays, error-prone manual processes, and confusion.

This article aims to give you an in-depth understanding of the numerous benefits that CPQ solutions offer businesses. We’ll explore how CPQ solutions can help companies to customize and personalize products, allowing them to meet the unique demands of individual customers and cater to specific market niches. This adaptability can increase customer satisfaction, loyalty and generate more revenue.

Finally, we’ll guide you on determining whether CPQ is the right solution for your company and, if it is, what features you should consider when evaluating different vendors. In short, we’ll answer “Why CPQ Matters” to you and your business.

Let’s dive in.

The Basics of CPQ Sales

At its core, CPQ is a software solution that helps sales teams configure products, price them accurately, and generate professional quotes efficiently. It plays a crucial role in the sales cycle, assisting businesses in managing complex product offerings and pricing structures. The critical components of a CPQ system include:

Product Configuration

CPQ allows sales reps and end customers to configure complex products, ensuring that the final solution meets the customer's requirements and adheres to the company's product rules.

For example, consider a company selling custom-built industrial equipment. With CPQ, sales reps with minimal experience can easily optimize expensive and intricate equipment for a customer's unique needs, ensuring the final product is fit for purpose and compliant with the company's engineering constraints.

Pricing Management

CPQ enables sales reps to juggle multiple pricing strategies, apply discounts, and incorporate other variables that affect pricing, such as currency fluctuations, regional differences, and customer history.

A company operating in multiple countries might have different pricing strategies based on local market conditions and regulations. CPQ allows sales reps to quickly and accurately apply the appropriate pricing strategy for each customer, ensuring consistency and accuracy across the organization.

Quote Generation

CPQ streamlines the process of creating professional quotes and proposals, which can include product specifications, pricing details, and other relevant information. This comprehensiveness reduces the risk of communication breakdowns and accelerates the sales cycle.

The Importance of Visual CPQ

Visual CPQ solutions take the power of CPQ a step further by incorporating visualization tools that allow customers and sales teams to see the final product configuration in a 3D, interactive environment. This immersive buying experience offers several benefits:

Differentiation in crowded markets: A visual CPQ solution can help your business stand out from competitors by offering a unique, engaging buying experience. For example, a furniture manufacturer could use visual CPQ to allow customers to see their custom furniture configurations in a virtual room, making envisioning the final product in their space more accessible.

Increased clarity and win rate: Visualization helps customers and sales teams understand complex product configurations, improving decision-making and buyer confidence. A company selling configurable machinery might use visual CPQ to show customers how their machinery will look and function once assembled, reducing uncertainty and increasing the likelihood of a purchase.

Better collaboration: Visual CPQ solutions enable better collaboration between sales, engineering, and the shop floor, ensuring that the final product meets customer requirements and complies with internal product rules. There's little space for misunderstandings when every stakeholder can see the final product.

The Benefits of Implementing CPQ

Implementing a CPQ solution offers numerous advantages, including:

Improved sales efficiency

CPQ streamlines the quoting process, reduces human error, and accelerates sales cycles, enabling your sales team to close deals faster. Reps can significantly reduce the time spent generating quotes for complex products and assemblies, focusing instead on building relationships and closing more deals.

Enhanced Profitability

CPQ allows businesses to optimize pricing strategies, increase deal sizes and revenue, and improve sales forecasting, ultimately leading to increased profitability. A manufacturing company using CPQ might analyze historical sales data to identify trends and optimize pricing for maximum revenue, resulting in larger deal sizes and better profit margins.

Improved Customer Experience

By offering personalized product offerings, faster response times, and transparent and consistent pricing, CPQ enhances the overall customer experience. With configurable products, customers receive the best value for their money, leading to higher customer satisfaction and loyalty.

Selecting the Right CPQ Solution

Choosing the right CPQ solution for your business requires careful consideration of several factors:

Features and Functionality

If you sell complex, configurable products, consider adopting a state-of-the-art CPQ solution with advanced product configuration logic and seamless integration with engineering tools.

Enhance the customer experience by offering an immersive 3D visual product configuration with augmented and virtual reality capabilities. Furthermore, a no-code rules engine will maximize flexibility while minimizing costs (see below).

CPQ Product Rules

CPQ product rules encompass the essential business and engineering logic that guides sales representatives in configuring products effectively. Looking to introduce a new product option or phase out a feature? You'll need to modify your rules.

Top-tier CPQ solutions empower non-technical business users to create and maintain rules through a no-code approach. This enhances a company's agility in adapting to swiftly changing business and customer demands and lowers development costs.

Integration Capabilities

Ensure that your CPQ solution can integrate seamlessly with your existing systems, such as CRM and ERP, to create a cohesive sales ecosystem. This way, sales, engineering, and the shop floor can work together without constant back-and-forth communication and manual data entry.

Complex Pricing Models

Choosing a CPQ solution with the flexibility to adapt to any pricing strategy is crucial for maximizing margins and staying competitive. Consider the following:

Dynamic pricing

CPQ should be able to modify prices in response to real-time market conditions and other influencing factors. For instance, a manufacturing company producing customized industrial equipment can use dynamic pricing to adjust the cost of their products according to fluctuating supply, demand, and raw material costs.

Custom pricing

Sometimes, businesses need to offer tailored pricing to individual customers or channel partners, depending on their unique needs and relationships. Your company might want CPQ to provide custom pricing for long-standing customers or offer special pricing to distributors.

Scalability

CPQ should seamlessly accommodate business expansion, scaling effortlessly as your products become more technically sophisticated, options increase, and your customer base grows, bringing more exacting demands and higher expectations.

Conclusion

Implementing a CPQ solution can significantly improve your sales process's efficiency and profitability. By streamlining product configuration, pricing management, and quotation generation, CPQ helps businesses close deals faster, optimize pricing strategies and deliver an industry-leading customer experience.

Take some time to look into different CPQ solutions and find the vendor that best helps your company reach its sales and growth goals. As you check out CPQ options for your business, consider the features and how they work, how well they integrate with your current systems, the pricing models, and whether they can scale as your business grows.

If your products are either complex or have a solid visual aspect, then choosing a solution that offers 3D visual product configuration is a good idea. This visualization adds clarity and engagement to an otherwise opaque and convoluted sales experience, increasing your chances of making a sale.

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5 Ways CPQ Companies Can Benefit From CPQ Configuration

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5 Ways CPQ Companies Can Benefit From CPQ Configuration

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CPQ companies can change the way you do business. Best CPQ tools have the potential to achieve whopping returns. As per reports, when a CPQ system is used, 26% more sales representatives meet their quota.

Many manufacturers and retailers are dealing with hundreds of problems due to low productivity. Especially when it comes to complex product producers, the situation becomes worse. All the solutions to your problem are hidden under the CPQ sales software.

CPQ is an abbreviation for Configure, Price, Quote. This business software solution is created for sales teams to deliver accurate product selections and costs. Its advanced features help sales representatives to enhance their productivity and close lucrative deals.

Here we’ll explore the five ways CPQ companies can benefit from CPQ Configuration. So let’s dive in!

5 Ways CPQ Companies Can Benefit From CPQ Configuration

1.Reduces Order and Quoting Errors

As a manufacturer, we always make mistakes such as wrong dates, signatures, or names when we manually monitor many bids and contracts. But over time, these mistakes build up, delaying the sales cycle and giving your clients a poor impression.

But with top CPQ Companies configurator software, manufacturers can eliminate human mistakes from their quoting processes and drastically lower errors and the number of quotation modifications per customer. From automatically creating quotations to managing the billing, every feature is integrated into CPQ technology that helps sales representatives to smoothen the process and eliminate errors.

2. Simplify the Complexity

CPQ technology perfectly fits you if you’re struggling with a complex sales process. As per research, With CPQ, sales representatives have reduced the sales cycle by 28%. This software frees sales reps from manually calculating price estimates for each prospect, which increases sales effectiveness and reduces lost time and productivity.

3. Seamless Experience

The key to the success of any business is providing better customer satisfaction. But a complex product producer constantly struggles with customer satisfaction because they cannot explain their product's significance due to its intricacies. With the visual configuration, producers can solve this problem. This feature of CPQ Technology allows customers to clearly and intuitively optimize every product feature,  dispelling any questions users could have about the product and services. Moreover, it also helps reduce support costs because producers can deliver the right product at each stage of the buying process.

4. Personalized Service

Offering personalized service to each individual is not possible for sales representatives. Especially when complex product producers offer various types of products and services. But CPQ technology provides a solution that allows you to offer a personalized experience to each customer.

With CPQ sales software, you can create a quotation tailored explicitly for each client. If a customer wants to make modifications or if any discounts are available, a salesperson can update the quote in real-time.

Moreover, sales representatives can select from various pre-made or customized quote templates, create attractive PDFs of your quotes, and send them to clients.

5. Higher Return Of Investment

One of the finest advantages of integrating CPQ into your business is that it aids you in gaining higher portability by simplifying the selling process.  CPQ companies provide an intelligent quotes option through its top-notch software. With this tool, sales representatives build quotes in minutes, and the estimate is immediately sent to the required individuals for approval, cutting down on waiting time even further.

Additionally, this CPQ configurator enables you to crack more deals by smoothly swapping from the sales process to the purchase. Manufacturers can quickly configure items using CPQ. It helps in setting pricing and taking advantage of bulk savings. This automation gives customers confidence and makes you appear to be an actual sales professional.

Conclusion:

The way CPQ sales software demand is growing in the market, it's clearly visible how CPQ can reshape our businesses.

It helps in the complex task of configuring products and other day-to-day business activities, which enhances the sales team's efficiency.

If you are still relying on old-time software, it's time to revamp your organization. The best CPQ companies, like KBMax, provide a bespoke CPQ solution that enables producers to streamline their product configuration process and improve overall efficiency. With the cutting-edge rule-based engine and real-time validation tools, KBMax Configurator ensures that each configuration is correct and complies with all relevant specifications.

For our CPQ demo, get in touch with KBMax CPQ specialists. Our team is always ready to provide consultation related to CPQ software.

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The Ultimate Guide to Product Rendering and CPQ

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The Ultimate Guide to Product Rendering and CPQ

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CPQ (Configure, Price, Quote) is software that simplifies and automates the complex process of generating accurate, customized quotes for configurable products.

The best CPQ solutions incorporate product rendering to enhance operations and customer experience, providing visually engaging, realistic representations of products tailored to individual customer requirements.

When CPQ and product rendering combine, they not only streamline the sales process and reduce errors but also create a more immersive and personalized experience for customers.

This “Ultimate Guide to Product Rendering and CPQ” explores all the benefits and more.

What Is Product Rendering?

Product rendering is a digital process used to create realistic depictions of products with the help of 3D modeling and rendering software.

The product rendering technique enables designers, marketers, sales reps, and customers to see visual representations of products before they’re manufactured.

With product rendering technology, companies can showcase products in lifelike detail and stand out from the competition in competitive, undifferentiated markets.

The Power of Product Rendering For Different Teams

Product rendering benefits different teams and individuals in different ways:

Designers: Designers can design better, more innovative products and launch them faster. They can optimize designs at the early conception stage, making tweaks before products enter production and changes become exponentially more expensive.

Marketers: Marketers can use high-quality, realistic renderings cross-channel in memorable and unique ways. They can start marketing products before they’re produced, creating pre-launch buzz.

Sales: Sales reps can use product rendering to enhance customer understanding and confidence, provide immersive demonstrations, and, with the help of CPQ, offer a greater degree of customization without increasing confusion.

Customers: Customers gain a clearer understanding of products, enhancing decision-making and increasing the likelihood of being happy with the finished product. An increased number of configuration options boosts satisfaction.

The Three Key Types of Product Rendering

There are multiple types of product rendering, each of which provides varying degrees of value at each stage in the engineer-to-order process.

At the product concept stage, designers need as much visual information as possible to eliminate any kinks in the design. The more detailed the rendering, the more accurate and efficient the design and engineering process. This leads to higher-quality products that are launched faster, generate greater customer satisfaction, and are less likely to be returned.

Next comes the 3D rendering phase, where designers create photorealistic renderings for customers. Designers focus less on technical aspects and more on visual details like colors, shadows, and lighting, breathing life into the design. This is where they can bring in more immersive elements like augmented reality (see below).

Product rendering techniques can be divided into three main subsets:

Photorealistic 3D Rendering

Photorealistic rendering is a 3D modeling technique used to create realistic, lifelike images. Photorealistic renderings are widely used in advertising, marketing, and highly aesthetic industries like architecture and interior design. The aim is to showcase products, create engagement, and drive sales.

Interactive Rendering

Interactive rendering is a more immersive technique. Users can step beyond the static realm and manipulate 3D models in real-time. They can zoom and rotate to explore products in a more lifelike experience that increases engagement and promotes confident, informed buying decisions.

Augmented Reality (AR) and Virtual Reality (VR) Rendering

AR and VR techniques are the pinnacles of immersive product rendering, driving unforeseen levels of engagement and differentiation. AR involves overlaying 3D models onto the real world as captured through a handheld device like a smartphone. It lets users view and interact with virtual products “in situ.” VR transports users to a fully simulated environment experienced through a VR headset.

How Integrating CPQ Products and Product Rendering Technology Amplifies Business Impact

CPQ software helps manufacturers configure, price, and quote complex configurable products. Typically, sales reps enter customer information into a configurator, and the CPQ system configures a product and generates a quote. This automates and streamlines some of the slowest and most error-prone sales activities, saving time and money and boosting customer satisfaction.

Industry-leading CPQ vendors put product rendering at the heart of their solutions, enabling customers and sales reps to visualize configurable products before manufacturing. Visualization reduces miscommunication and errors and increases clarity and engagement.

The Rise of the Complex Product Configurator

Today's cutting-edge CPQ systems, such as Epicor CPQ, offer advantages that extend beyond the realm of sales.

Instead of relying on text, these innovative CPQ solutions empower manufacturers to create their own 3D visual product configurators. This approach shifts the focus from merely addressing customer needs and preferences to providing an interactive, real-time experience where both sales representatives and customers can engage with products and witness their configurations materialize on-screen.

Product renderings of configurable products subsequently flow downstream to the engineering department and the shop floor, fostering seamless collaboration among all teams. By unifying the entire organization, CPQ systems facilitate a smooth, end-to-end workflow that ensures efficient communication and coordination across departments, ultimately getting better products to customers faster.

Why It’s All Thanks to CPQ Product Rules

CPQ product rules serve as the foundation for visual product configuration, encoding the engineering expertise and constraints necessary for the system to understand component compatibility and the optimal designs for each customer.

CPQ product rules prevent configuration errors and guarantee that every configuration is fine-tuned to maximize customer satisfaction, engineering efficiency, production effectiveness, and financial viability.

When effectively implemented, CPQ product rules make the configuration process error-free while incorporating product rendering significantly elevates the user experience. Customers can autonomously take advantage of visual product configurators, providing a streamlined, interactive way to learn about and personalize products.

Manufacturers can embed their visual product configurators–featuring dynamic 3D renderings–directly into their websites. This allows customers worldwide to explore, configure, and place orders from any location while visually engaging with the product. Integrating CPQ and product rendering ultimately facilitates a more accessible and immersive buying experience.

3 Key Takeaways

1. Product rendering creates realistic, immersive visual representations of products that benefit various teams and individuals involved in the design, marketing, and sales processes.

2. Integrating CPQ software with product rendering streamlines the sales cycle, reducing errors, and boosting customer satisfaction. It also helps manufacturers improve cross-functional collaboration and engineering efficiency.

3. CPQ product rules serve as the foundation for visual product configuration, ensuring error-free, optimizing products every time. Combining product rules with product rendering creates an interactive way for customers to learn about and personalize products–wherever the customer’s situated.

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5 Proven Ways Configured Software Can Transform Businesses

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5 Proven Ways Configured Software Can Transform Businesses

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In today's fast-paced business world, companies are constantly seeking ways to improve their operations and stay ahead of the competition. Utilizing configured software effectively allows businesses to accomplish such objectives by offering personalized solutions that expedite processes while improving conversion rates by over 40%.

In this post, we'll explore five proven ways complex product configurator software can transform your business for the better.

5 Proven Ways Configured Software Can Transform Businesses

1. Streamlined business processes:

Advanced Configured Software is crucial for complex product manufacturers looking to stay ahead. By automating the sales process with top CPQ software, manufacturers can create a configurable visual interface that allows customers to customize products while providing real-time pricing and visualization of the end product. These software solutions provide a centralized platform for product configuration, pricing, and quoting, streamlining the sales process, reducing errors, and improving customer experience.

Moreover, a CPQ pricing software solution can help manufacturers improve the accuracy of product configurations and pricing, which is vital for complex products. Even minor errors in configuration or pricing can have significant consequences for manufacturers, which is why centralized platforms can help eliminate these errors and reduce potential inaccuracies.

Investing in robust and flexible configured software like KBMax CPQ can help manufacturers achieve greater efficiency, profitability, and customer satisfaction.

2. Greater collaboration:

By automating tasks like quote creation, advanced CPQ software can help sales teams focus on relationship building.

These solutions can also serve as a single source of truth for product information, ensuring that all teams work from the same data and minimizing errors and miscommunications. Real-time integration can provide teams with up-to-date information, enabling them to quickly review and approve quotes to ensure customer satisfaction.

This way, top CPQ software solutions are valuable for manufacturers looking to streamline their sales processes and promote collaboration.

3. Improved customer experience:

By providing customers with a visual interface that allows them to configure and customize products in real-time, manufacturers can ensure a personalized and satisfying buying experience.

Advanced CPQ software also provides faster and more accurate quotes, with real-time pricing and inventory information, leading to a shorter sales cycle and improved customer satisfaction. CPQ pricing software solutions like KBMax can automate much of the manual work involved in creating quotes and orders, freeing up sales teams to focus on building customer relationships and providing personalized service.

4. Better revenue:

Configured software improves customer satisfaction through a highly visual and interactive tool for configuration and customization, reducing errors and misunderstandings. One of the primary ways it helps increase revenue is by reducing the time and effort required to create accurate quotes and close deals. This leads to increased customer loyalty, repeat business, and positive word-of-mouth referrals, which can attract new customers and increase revenue.

Configured software also helps manufacturers better understand their customers and their needs by tracking configuration choices to gain insights into which product features and options are most popular and which ones are underutilized.

Overall, configured software is a powerful tool for complex product manufacturers looking to increase their revenue by streamlining sales processes, improving the customer experience, and gaining insights into customer needs.

5. Better decisions:

For complex product manufacturers looking to optimize their business, configured software is a crucial tool. KBMax CPQ is an example of such software that can assist in generating customizable products, which often come with intricate difficulties.

CPQ pricing software helps manufacturers to manage inventory effectively by tracking components and materials needed for each product configuration, which can result in significant cost savings.

Conclusion:

To elevate customer loyalty and streamline your sales cycle, integrating custom-designed visual configurator software is essential.

However, with so many advanced CPQ software options available, it can be overwhelming to choose the right one. That's where an end-to-end platform like KBMax comes in, offering a seamless and tailored product configurator solution to meet your enterprise's unique demands and budget constraints.

Incorporating KBMax CPQ into your operations allows you to transform your business, explore new growth, and provide your customers with an unparalleled experience. Don't settle for a subpar CPQ system solution—invest in the best with KBMax.

Read Capterra's reviews on KBMax CPQ for an informed and prompt decision today.

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How Can Top CPQ Solutions Empower the Sales Process?

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How Can Top CPQ Solutions Empower the Sales Process?

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Top CPQ solutions can become the powerhouse of any business. The advanced functionality of CPQ software, such as automating quotes and proposal process, help sales representatives to respond quickly.

Manufacturers that produce high-value products must overcome obstacles while creating estimates for complicated items for various customers. This situation occurs more frequently. Sales professionals in specific industry verticals need deep product knowledge to develop an appropriate evaluation for the goods. Manually generating the quotes is a tedious and erroneous process.

Adopting modern solutions, such as  KBMax Configurator Solutions, solves all the problems of manufacturers. This tool can quickly create quotations, offers and seal deals that will revolutionize the game. It further boosts efficiency by adding visibility to all processes and removing manual tasks that help sales reps eliminate various sales hurdles.

In this blog, we will discuss the benefits of integrating CPQ solutions in business and how they can increase the output of the salespeople in your company.

So, let’s begin.

5 Benefits Of Integrating Top CPQ Solutions In Your Business

1. Focused On Selling

The responsibility of a sales representative to handle other business activities distracts them from achieving their sales goals. Sometimes, they also miss their remunerative deals. With the top CPQ Solutions, the sales team can focus more on selling. Configurator Solutions help manufacturers in every step of their daily operations. From monitoring leads to customer relationships, KBMax salesforce will do everything for your team, which saves time. They can use this time to close more deals.

2. Get More Lucrative Deals

The goal of every business is to make a valuable deal that Configurator Solutions can fulfill. It helps the sales team get a more lucrative deal by providing better functionality.  KBMax CPQ software solutions enable you to evaluate sales funnels and deal profitably, allowing you to offer lucrative bids with simplified procedures. Many businesses are using CPQ services to generate precise reports to increase their sales deals.

3. Customized Quoting

One of the main advantages of the top CPQ solutions is that they can assist companies in ensuring appropriate pricing for their products and services.  This tool can maximize productivity and conserve time. Furthermore, the sales team can establish pricing guidelines and discount schemes using Salesforce CPQ, ensuring their prices are correct and consistent across all sales channels.

For instance, if you are selling a complicated product with many hidden features, your sales configurator software will assist you in developing a proposal that clearly explains the product's characteristics and advantages to the customer. Your sales team can boost the possibility of a sale by making proposals specifically addressing the consumer's demands.

4. Eliminates Errors

Product configurations can be affected by changing rules, and keeping up with them can be difficult. However, integrating Configurator Solutions helps sales teams get it right the first time—and every time after that—by consistently following policies and procedures regarding products, pricing, discounts, and offers. Additionally, by lowering their exposure to lawsuits and financial penalties in the event of a dispute, sales leaders can be more productive thanks to transparency into current policies and practices.

5. Boosts Efficiency

CPQ software solution aids sales teams in maximizing time spent in person.  It provides representatives with the tools to produce customized offers and proposals for the client. With the help of mobility, machine intelligence capabilities, and new adaptive intelligence applications, the sales team can easily understand and predict customer behavior, identify opportunities for cross-selling and upselling, automate tedious operations, and boosts forecasting precision. Moreover, sales representatives can concentrate on client interaction and development since they are not confined to their workstations.

Conclusion:

Configure Price Quote Solutions is the one-such solution for the complex product producer. It helps you increase the accuracy of their product forecasts by giving them real-time information about your sales funnel. Moreover, It helps sales teams to develop targeted sales strategies, which help them to get a better deal while managing other business activities efficiently.

If your sales team is struggling with low productivity, it’s time to integrate Configurator Solutions into business. As per reports, a CPQ solution boosts lead conversion rates for businesses by 17%.  So why wait? Contact KBMax experts to get details about the implementation of top CPQ solutions.

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What is CPQ? A Comprehensive Guide to Boost Your Sales and Engineering Processes

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What is CPQ? A Comprehensive Guide to Boost Your Sales and Engineering Processes

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Are slow, error-prone, and disjointed sales and engineering processes slowing you down? CPQ software could be the answer. In this comprehensive guide, we'll explore the concept of CPQ, its benefits for sales and engineering departments, and how the most robust CPQ solutions–complete with visual configuration–can enhance speed, accuracy, and customer experience. Let's dive in.

What is CPQ Software? Understanding the Basics

CPQ stands for Configure, Price, Quote. It's a software solution that streamlines the sales process by automating complex product configurations, pricing calculations, and quote generation. CPQ software is vital for businesses dealing with a wide range of products, customizations, and pricing structures.

As customer demands for personalized products and experiences grow, businesses must adapt to remain competitive. CPQ software helps companies manage complex product configurations and pricing strategies while reducing errors and increasing efficiency.

CPQ software doesn’t just benefit sales; it supports end-to-end engineering, which also helps engineering and shop floor teams. When a user configures a product on the front end, CPQ generates prices, quotes, and various engineering documents. By routing these documents to the right engineer or shop-floor operative, CPQ removes a massive amount of manual work.

Key Components of CPQ Technology

At the heart of any CPQ system are several vital components that work together to ensure a seamless configure- and engineer-to-order process from start to finish.

Product Configuration Rules

CPQ software uses so-called product rules to ensure configurations are optimized for margin maximization and engineering efficiency. These rules not only help to prevent incompatible configurations, but they also ensure the final product meets customer requirements.

Visual Product Configuration

Companies selling complex configurable products should leverage a CPQ solution with visual product configuration abilities. Visual configurators enable customers to see and interact with their customized products in real time. Sales reps, distributors, and other channel partners can leverage this interactive experience, as can customers themselves when sellers embed their configurators on their websites.

Dynamic Pricing

CPQ software simplifies pricing management by automatically calculating prices based on pre-defined rules, strategies, and external factors such as cost prices, inventory level, and demand. This ensures accurate pricing for each product configuration and reduces the risk of errors.

CPQ systems with dynamic pricing calculate prices in real time during configuration. This functionality ensures customers get instant pricing feedback, enabling them to optimize products better and place immediate orders.

Quoting and Proposal Generation

Once the product is configured and priced, CPQ software generates a professional quote or proposal for the customer. This automation streamlines the sales process, saving reps a tremendous amount of time and ensuring customers receive accurate, consistent information.

Integrations with CRM, ERP, and CAD Systems (e.g. CPQ for SAP)

The best CPQ software integrates seamlessly with other back-office systems like CRM, ERP, PLM, and CAD. Integrations give CPQ access to relevant data and enable seamless automation of time-consuming processes like CAD design and manual data entry.

End-to-End Use Case Example

Consider a manufacturing company that sells customizable shelving solutions. With a visual product configurator, customers can drag and drop to design their shelving unit, changing colors, materials, and dimensions until they have their ideal setup. With augmented reality capabilities, they can see how the unit will look in situ by pointing the camera on their smartphone to the appropriate location.

As the user makes selections, the configurator calculates pricing in real-time and generates a quote. Once the customer is satisfied, the CPQ software generates CAD files and BOMs, allowing the engineering and shop floor team to begin production immediately.

Advantages of Implementing CPQ Solutions for Sales and Engineering

Streamline Sales Processes and Reduce Errors

CPQ software helps streamline sales processes and minimize errors by automating product configuration, pricing, and quotes. This efficiency leads to faster sales cycles and improved customer satisfaction.

Improve Sales Productivity and Revenue

CPQ software can help businesses close deals faster and ultimately increase revenue by streamlining the sales process. Sales representatives can focus on building relationships and closing deals rather than wasting time on manual tasks like creating quotes and calculating pricing for complicated products with endless add-ons.

Enhance Customer Experience and Satisfaction with Visual Configuration

Visual product configurators provide customers with an interactive and immersive buying experience, which can help differentiate your business in crowded markets.

Support Complex Pricing and Product Configurations

CPQ software can handle complex pricing structures and product configurations, ensuring accuracy and consistency in every customer interaction. The best CPQs have no-code rules engines, which enable non-technical users to set the constraints for how products are configured, priced, and sold. This increases agility in the face of rapidly changing customer requirements. It also reduces third-party development costs.

Generate CAD Files, BOMs, and Other Engineering Documents

CPQ software automates the generation of engineering documents like CAD files and BOMs, saving time for the engineering department and ensuring a smooth manufacturing process.

Happy engineers stay longer and do better work. Reducing time spent on the most menial, repetitive engineering tasks leads to a greater focus on R&D and a more productive, satisfied engineering team.

Connect End-to-End Manufacturing Processes

By connecting the configure-to-order and engineer-to-order processes, CPQ software ensures seamless communication between sales and engineering teams, ultimately reducing lead times and improving efficiency.

Choosing the Right CPQ Software for Your Business

Here are some key considerations to keep in mind when selecting a CPQ solution.

Vendor’s Industry Focus

Choose a CPQ solution that caters to your business size and industry, as different providers may offer features tailored to specific markets. Manufacturing businesses should consider Epicor CPQ with its engineering and shop-floor automation features.

Integration Capabilities with CRM, ERP, CAD Systems, and More

Ensure the CPQ software you choose integrates seamlessly with your existing CRM, ERP, CAD, and other back-office systems to facilitate efficient data sharing and collaboration.

Scalability and Customization

Look for a CPQ solution that can grow with your business and offers customization options to meet your unique needs. Cloud-based solutions are inherently scalable and also integrate with other software more efficiently, thanks to APIs.

Visual Product Configuration with AR and VR Capabilities

Select a CPQ software that offers visual configuration tools, including AR and VR capabilities, to provide an immersive and interactive buying experience for customers.

In Summary

CPQ, short for Configure, Price, Quote, is an innovative software solution that bridges the gap between sales and engineering teams. It automates complex tasks like product configurations, pricing, quoting, and CAD, leading to improved sales performance, increased customer satisfaction, and a considerable competitive edge in the market.

When companies integrate CPQ software into their workflows, they can eliminate manual tasks, minimize errors, and foster collaboration between departments. Additionally, visual product configuration empowers the customer experience, further contributing to a company's success.

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Elevate Your E-commerce Game With Product Visualization

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Elevate Your E-commerce Game With Product Visualization

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The modern buyer is intelligent and informed thanks to unlimited access to information online. How does one establish trust with potential customers when it comes to expensive purchases without physical retail locations or complex products?

The answer lies in delivering rich media experiences with all available background information through 3D product visualization. Consumers today look beyond traditional sales pitches and seek detailed imagery, video reviews, and testimonials from other purchasers when researching items online. This happens before engaging directly with reps.

Visual CPQ then streamlines your sales process, boosts efficiency, and provides a user-friendly experience with its embedded product visualization software. Real-time pricing and quoting enable customers to make informed decisions and complete transactions on the spot.

Why should manufacturers use Product Visualization Software?

• Streamlining Sales Cycles

To compete in today's fast-paced markets, businesses must provide quick quotes and proposals. A visual product visualization software integrated into a CPQ application suite can generate proposals in less than a minute.

CPQ in manufacturing can also create various documents, including quote and proposal PDFs, BOMs, and CNC cutting data, with just one click. It automates CAD drawings through popular design systems like SolidWorks, AutoCAD, Autodesk Inventor, and PTC Creo, reducing time and resources.

By adopting CPQ products and product visualization software, businesses can simplify their sales processes and gain a competitive edge.

• Enhancing Buyer Engagement

Research conducted in the field of neuromarketing, also known as consumer neuroscience, has revealed that using novel sensory experiences in the buying process can improve the perceived value of a product. This thereby increases a customer's willingness to pay.

Therefore, to maximize buyer engagement, presenting product information in a visually compelling way is crucial. Traditional paper-based sales brochures are no longer sufficient. Instead, enterprises should prioritize visual selling, leveraging advanced product visualization software to provide customers with a comprehensive and immersive product experience.

By implementing a robust front-end CPQ process that integrates product visualizations, businesses can drive sales and foster brand loyalty among their target audience.

• Reducing Rework and Improving the Quality of End Products

Visual product configurator represents a powerful tool for streamlining the quoting process, particularly for highly customizable products that rely on aesthetic considerations.

By eliminating potential communication gaps between customers and vendors, product visualization software solutions enable more accurate and efficient configuration of complex products. Ultimately leading to lower return rates, greater customer satisfaction, and reduced rework. The benefits of using a visual product configurator extend beyond these operational gains. It can help businesses establish a competitive advantage by enabling sales teams to deliver more compelling and personalized proposals through guided selling.

Additionally, such software solutions can facilitate the creation of silos that enable cross-functional teams to work more efficiently and with greater collaboration. This enhances both productivity and the quality of the end product.

• Enhanced Product Understanding

Manufacturers should leverage Product Visualization Software as it provides enhanced product understanding to both internal and external stakeholders.

By visualizing product configurations, guided selling techniques can be employed in the front-end CPQ process, resulting in optimized product recommendations and a more efficient sales process.

Manufacturers can benefit greatly from product visualization software, which offers a range of advantages. By creating realistic 3D models of their products, manufacturers can give their sales team a powerful tool for upselling and cross-selling. This enables sales reps to showcase the full potential of products, helping customers see the value in what is being offered and ultimately increasing the likelihood of closing a sale.

Furthermore, product visualization software allows manufacturers to showcase their products in 3D, enabling a more interactive and immersive customer experience. This enhanced product understanding leads to increased confidence in purchasing decisions, reduced return rates, and, ultimately, higher revenue for the manufacturer.

• Boosting Confidence and Conversion Rates for B2B Buyers

B2B buyers face challenges when making large-scale purchase decisions, but a visual product configurator can alleviate the pressure. With this solution, customers can see a visual representation of the product before making their final decision.

The configurator empowers them to take ownership of their selections and build an emotional connection with the products. Product visualization software streamlines the CPQ process, providing accurate pricing and quotation information based on the customer's product configuration and pricing needs.

Businesses that leverage these tools see a 40% increase in conversion rates. Implementing a visual product configurator and product visualization software can provide a competitive advantage in the B2B market, build customer trust and confidence, and lead to long-term success.

Summing Up

For B2B or B2C enterprises looking to establish a cohesive relationship between their front-end configurator, engineering, and manufacturing processes, incorporating a leading 3D visualization software like that of KBMax into their CPQ system is the key.

By linking all components seamlessly, businesses can enjoy a shorter sales cycle while streamlining production- equating to more converted leads with KBMax!

As a leader in the product visualization software industry, KBMax offers solutions designed around utilizing assets, such as images created by engineers when implementing 3D visualization within CPQ processes - thus avoiding unnecessary coding and creating seamless transitions between design phases.

Gain valuable insights on the effectiveness of KBMax CPQ software in 2023 by reading the latest KBMax CPQ Reviews.

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cpq price rules, cpq pricing, configure price quote cpq, CPQ cloud

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cpq price rules, cpq pricing, configure price quote cpq, CPQ cloud

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In today's highly competitive world, manufacturers and retailers constantly seek ways to improve their sales and revenue. Implementing CPQ Pricing software is one of the most efficient methods to accomplish this.

As a manufacturer, it is crucial to understand the importance of pricing your products accurately and competitively. However, pricing can be complex and time-consuming, especially when dealing with customized products or services. It allows manufacturers and retailers to offer customized and accurate quotes to their customers.

The P in CPQ stands for pricing, the broadest aspect of this triad. Configure price quote CPQ software can provide precise and consistent pricing based on specified criteria and parameters, eliminating the need for sales
representatives to spend time negotiating prices.

This blog post will discuss the five benefits of CPQ pricing for manufacturers.

Benefits of CPQ Pricing to Manufacturers

1. Increased Sales and Revenue

Configure price quote CPQ enables manufacturers to offer customized quotes tailored to each customer's needs. For instance, CPQ pricing software is used by automotive manufacturers to configure and price customized vehicles for clients. It allows users to select various features and options, such as engine type, color, and interior materials, and receive an accurate quote within minutes.

This increases sales and revenue as customers are more likely to purchase products that meet their unique requirements. It also enables sales representatives to offer discounts and promotions, further increasing sales and revenue.

2. Improved Customer Experience

CPQ Cloud allows users to calculate pricing in real time during setup. Users can use different filters per their preference, enabling them to choose various alternatives and quicker decision-making and product optimization. Users can see exactly how the price of a product and service is calculated, increasing their trust. Moreover, it lets customers quickly compare different plans and services, helping them make wise decisions. The result is happier customers and a better overall experience.

3. Greater Efficiency

With CPQ pricing software, everything is automated, which saves time and reduces errors. To create a quote, the CPQ software considers the configuration and cost. Sales representatives no longer have to manually calculate prices or create sections, which frees up time for other essential tasks. Pricing management is a core CPQ feature, allowing complex product manufacturers to respond quickly to customer requests for quotes, improving the sales process's efficiency.

4. Valuable Data Insights

CPQ pricing software provides valuable data insights that can be used to improve the pricing process and increase sales and revenue. Retailers can analyze customer behavior, such as which products and services are most popular, and adjust their pricing strategy accordingly. Sales agents can use Configure price quote CPQ to track the effectiveness of special offers and discounts, aiding in decision-making over upcoming product launches.

5. Competitive Advantage

CPQ price rules give manufacturers a competitive advantage by streamlining complex sales procedures and enhancing upsell and cross-sell opportunities.

Moreover, it also enables the users to offer customized and accurate quotes. This sets them apart from competitors who may not have the same automation or customization level. Producers can remain ahead of the competition by promptly responding to market developments and modifying their pricing strategy thanks to the CPQ cloud.

Conclusion

CPQ price rules are guidelines and conditions defined within CPQ pricing software to determine the price of a product or service. These rules can be based on various factors such as customer type, quantity, discounts, promotions, and more. CPQ price rules assist complex product producers in providing tailored and accurate product and service quotations to potential consumers.

KBMax CPQ Pricing solutions are a great option if you also want to streamline your manufacturing.

KBMax Configurator can help you optimize your supply chain, reduce costs, and improve customer satisfaction. With KBMax Salesforce, manufacturers can see real-time visibility into their sales pipeline, which enables them to make more informed decisions about pricing, product configurations, and promotions.

So why wait? Empower your business with KBMax Configurator today and take your product configuration process to the next level!

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Mastering CPQ Implementation: 10 Steps to Success

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Mastering CPQ Implementation: 10 Steps to Success

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Implementing a CPQ solution can revolutionize how manufacturing businesses manage their sales, engineering, and shop floor processes. With the potential for increased efficiency, accuracy, and productivity, it's crucial to get the implementation right from the outset.

But how do you ensure a successful CPQ implementation that delivers maximum ROI, adoption, and digital transformation for your business? This comprehensive guide will walk you through 10 vital steps to master your CPQ implementation journey.

By following our step-by-step approach, you'll be well on your way to reaping the full benefits of a CPQ solution tailored to the unique needs of your manufacturing organization.

How to Implement the Best CPQ Software

Step 1: Set Clear Goals and Measure Success

Before embarking on your CPQ implementation journey, it's crucial to outline specific goals and objectives. These objectives should be closely aligned with your organization's overall business goals and address the needs of sales, engineering, and shop floor departments.

Start by identifying the key challenges and pain points the CPQ software should address, such as accelerating sales cycle speed, reducing errors, or increasing eCommerce conversion rate.

Next, establish a set of KPIs that will help you track the progress and success of the implementation. These KPIs could include metrics like speed to quote, win rate, deal size, or the number of configurations rejected by engineering.

It's essential to involve stakeholders from all departments in defining the objectives and KPIs to ensure their buy-in and commitment throughout the implementation process.

Step 2: Assemble Your Dream CPQ

Software Implementation Team and Define Roles

A successful CPQ implementation requires a cross-functional team with representatives from key departments. Obviously, you’ll want to include sales, engineering, production, and IT, but consider other departments like customer support–these people deal with customers’ pain points day-in-day-out.

When assembling your dream team, ensure that each member clearly understands their role and responsibilities within the project. This clarity will help streamline communication and decision-making processes throughout the implementation. Establishing a governance structure that defines reporting lines, escalation paths, and decision-making authority within the team is also crucial.

Designate a project manager to oversee the implementation process, ensuring it’s going according to the plan. Additionally, depending on the size of your operation, you may need to create a steering committee comprised of senior leaders to provide strategic direction.

Step 3: Create a Realistic Timeline and Financial Plan

Developing a realistic, detailed project timeline and budget is essential for keeping your CPQ implementation on track. Consider the time required for each phase of the project and update the plan regularly to track progress and adjust as needed.

Factor in potential risks and contingencies that may impact the timeline, such as technical issues, data cleansing, and external challenges. When developing the financial plan, account for the costs associated with software licensing, implementation services, training, and ongoing maintenance.

Step 4: Find the Perfect CPQ Software for Your Business

Selecting the right CPQ software is a critical decision that will impact the success of your implementation. Look for a solution offering comprehensive features like visual product configuration, VR and AR capabilities, CAD automation, dynamic pricing, and a no-code rules engine. For many businesses, the ideal software will be cloud-based, easy to set up, and maintainable in-house, with the ability to integrate seamlessly with other systems like CRM and ERP using APIs.

To find the perfect fit, conduct a thorough market analysis, evaluating potential vendors based on criteria such as industry expertise, customer stories, training and support, product functionality, product roadmap, and price (obviously!) Speak to other non-competing businesses in your industry for recommendations and horror stories.

Engage with stakeholders from sales, engineering, and shop floor departments to ensure the chosen software meets their unique needs. Try getting representatives from each department in on demos to test the solution’s capabilities.

Step 5: Identify Opportunities for Improvement (Gap Analysis)

Conduct a gap analysis to identify areas where your current configuration, pricing, quoting, CAD, and BOM creation processes fall short and opportunities to improve with a CPQ solution.

Map out the existing processes and workflows across sales, engineering, and shop floor departments, identifying bottlenecks, inefficiencies, and areas where errors can occur.

By identifying the gaps and opportunities for improvement, you can prioritize the most impactful areas to address during the implementation and set the stage for a more efficient and streamlined operation.

Step 6: Smoothly Navigate Organizational Change

Implementing a CPQ solution will inevitably bring about organizational changes that impact your employees' daily workflows and routines. To ensure a smooth transition, develop a change management strategy that addresses potential resistance, fosters employee engagement, and supports adopting new processes and technologies.

This strategy should include clear communication about the benefits and goals of the CPQ implementation, regular updates on project progress, and opportunities for employees to provide feedback and ask questions. Focus, focus, and focus some more(!) on training and support throughout the implementation. This will help employees feel confident and prepared to embrace the new CPQ solution.

Step 7: Seamlessly Migrate Your Valuable Data

Migrating product, pricing, 3D models, engineering, and other relevant data from existing systems to the CPQ software is critical in the implementation process. To ensure data integrity and consistency, developing a detailed data migration plan that outlines the source systems, target systems, data mapping, and data transformation requirements is essential.

An experienced CPQ vendor with years of migration experience can be invaluable during this process. Their expertise and support can help you navigate the complexities of data migration, ensuring a smooth and stress-free transition to your new CPQ solution.

Step 8: Customize the CPQ System for Your Unique Needs

Once you’ve selected your CPQ software, it's time to configure and customize it to meet your organization's specific requirements. Engage with stakeholders from sales, engineering, and shop floor departments to gather detailed requirements for product configurators, pricing rules, and approval workflows.

One feature to prioritize when selecting a CPQ solution is the inclusion of a no-code rules engine. This allows users with no technical experience to create product and pricing rules and design workflows that automate slow and error-prone processes. Empowering non-technical users to manage these rules and workflows in-house can save significant time and money.

Furthermore, a no-code rules engine enables your teams to react quickly to changes in the market or business environment, fostering a more agile and responsive organization. This adaptability is essential in the ever-evolving global manufacturing landscape, ensuring your business remains competitive and efficient.

Step 9: Integrate with Existing Systems for Synergy

To maximize the value of your CPQ software, integrate it with other back-office systems such as CRM, ERP, eCommerce, and CAD. Seamless integration will enable data and process synchronization across systems, providing a unified platform (single source of truth) for sales, engineering, and shop floor teams to work collaboratively and efficiently.

Develop an integration plan that outlines the data flows, system interfaces, and APIs needed to connect the CPQ software with your existing systems. Work with your IT team or the CPQ vendor to implement the integrations, ensuring data consistency and system compatibility.

Conclusion to our CPQ Implementation Guide

With fierce competition in the manufacturing industry, staying ahead of the game and standing out from the crowd is essential. Implementing a CPQ solution can help your business streamline processes, increase efficiency, and improve customer satisfaction.

By following these ten steps, you'll be well-equipped to achieve a frictionless CPQ implementation that drives maximum ROI, adoption, and digital transformation for your manufacturing business. Communicate openly and involve stakeholders from sales to engineering and the shop floor, and you’ll be set up for success.

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Standout Features Of CPQ Pricing Software You Should Know

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Standout Features Of CPQ Pricing Software You Should Know

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Companies are constantly under pressure to increase their bottom line while still providing their clients with high-quality goods and services in today's fast-paced business world. By using CPQ pricing software, firms can accomplish this goal in several ways. Companies can improve their sales operations and swiftly provide accurate quotations to their clients by using CPQ software. This helps businesses respond more quickly to customer requests and close deals faster.

CPQ software allows businesses to set up pricing rules and guidelines to ensure that quotes are accurate and consistent across all channels. This helps prevent pricing errors and ensures that customers are charged fairly and consistently. Configure Price Quote Tools also allow sales teams to spend less time on administrative tasks and more on selling. This improves their productivity and enables them to focus on building customer relationships and closing deals.

Before discussing the features of CPQ pricing software, let's discuss what CPQ software is.

What Is CPQ Software?

Businesses employ software solutions called Configure Price Quote Tools to automate and streamline their sales quoting procedures. With these technologies, companies can generate precise quotations for their goods and services depending on the requirements and preferences of their clients.

Several industries, including manufacturing, healthcare, telecommunications, and technology, can benefit from applying CPQ price rules. They help businesses that provide sophisticated or highly adaptable goods, such as business software, medical equipment, or industrial machinery.

Features including product setup, pricing and discounting, quotation creation, and proposal management are frequently included in CPQ solutions. Businesses can shorten their sales cycles, lessen mistakes and inconsistencies in their quotations, and boost their general productivity and profitability by employing a CPQ platform.

Features Of CPQ Pricing Software That You Should Know

CPQ pricing software is a powerful tool that can help businesses streamline their sales process, deliver accurate quotes quickly, and improve their bottom line. Here are some powerful features of CPQ pricing software that businesses can use for better advancement.

1. Configurability

The configurability of CPQ pricing software is one of its best qualities. With this software, businesses can configure sophisticated goods and services with many features, choices, and price tiers. By doing this, CPQ software can provide precise quotations that account for all the factors influencing the ultimate cost of a good or service.

2. Automated pricing and discounting

Businesses can automate the pricing and discounting process using CPQ pricing software, eliminating mistakes and saving time. Discounts can be applied using this software depending on client volume or loyalty, unique promotions, and other variables. It can also consider other pricing models to guarantee the final price is correct, such as cost-plus or value-based pricing.

3. Integration with other software

The flexibility of CPQ pricing software to interact with other software programs is another noteworthy feature. To streamline the entire sales process, it can, for instance, interface with CRM software, ERP software, and other platforms. Through this connectivity, organizations can manage client data more effectively, reduce mistakes, and guarantee that quotations are current and correct.

4. Advanced Analytics

Advanced analytics features frequently included in CPQ pricing software can give firms valuable insights into their sales process. This program can track critical indicators like average transaction size, sales cycle time, and sales conversion rates. By examining this data, businesses can find areas for development and make data-driven decisions that can enhance their sales process.

5. Mobile support

Last but not least, many CPQ pricing software options have mobile functionality, enabling sales professionals to generate quotations while on the road. With mobile capability, sales representatives can use their smartphone or tablet to access the program, generating precise quotes anytime and from any location.

Summing Up

By utilizing the standout features of CPQ pricing software, such as configurability, automated pricing, discounting, integration with other software, advanced analytics, and mobile support, businesses can achieve these goals and stay competitive in today's fast-paced business environment.

CPQ software gives businesses real-time visibility into their pricing data, allowing them to analyze trends and make informed pricing decisions. This helps companies to stay competitive and profitable in their markets. It will enable businesses to provide customers with accurate and timely quotes, improving their overall experience with the company. This can help build trust and loyalty and lead to repeat business and referrals.

Overall, CPQ pricing software can help businesses increase efficiency, improve accuracy, and enhance the customer experience, increasing sales and profitability.

Want to experience the benefits of KBMax CPQ Pricing 2023 and its features? Contact KBMax now!

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Automatically Generate Renewal Quotes With CPQ

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Automatically Generate Renewal Quotes With CPQ

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Every business wants to stay and unleash the tremendous heights in the fast-paced business world. However, only those who adopt new technologies and focus on renewing their products and services achieve those heights. CPQ processes enabled businesses to implement new technologies and allowed teams to complete product development effectively.

Automation is the trend. Manual contract renewals are no longer necessary as a result. When the active contract nears its expiration date, CPQ can automatically prepare a renewal quote. Thanks to this, your users won't have to worry about creating renewal records at the appropriate time. You may even specify a specific price for renewal goods in the quotation. Please keep the product's original cost or raise it by a certain amount.

A renewal opportunity that may be utilized for forecasting is automatically created when the Renewal Forecasted option is selected. Even while it might not be used immediately away, it can give visibility into subsequent renewals' potential income in the future.

Renewals provide a source of recurring revenue and maintain customer loyalty and satisfaction. However, the renewal process can be time-consuming and complex, involving multiple products, contracts, and pricing structures. Configure, Price, Quote (CPQ) software comes in here.

CPQ software is a powerful tool that automates creating quotes for complex products and services. It allows businesses to create accurate, customized quotes in a fraction of the time it would take manually. One of the key features of CPQ software is the ability to generate renewal quotes automatically with the help of CPQ vendors.

Here are some of the benefits of using CPQ software to automate the renewal quote process:

1. Improved accuracy: CPQ Products ensures that renewal quotes are accurate by pulling information from the customer's previous orders and contracts. This eliminates the risk of human error, which can lead to costly mistakes and delays.

2. Increased efficiency: With CPQ software, businesses can generate renewal quotes in minutes rather than days or weeks. This allows sales teams to focus on tasks like prospecting and lead generation.

3. Customization: CPQ processes allow businesses to customize renewal quotes based on the customer's needs and preferences. This can include product upgrades, add-ons, and unique pricing structures.

4. Consistency: CPQ software ensures that all renewal quotes follow the exact pricing and discount structures. This helps to maintain consistency across different sales teams and regions.

5. Scalability: CPQ software can handle many renewal quotes, making it an ideal solution for businesses with a large customer base.

Benefits Of Automating The Renewal Quote Process With CPQ Software

CPQ processes software can help automate the generation of renewal quotes by streamlining the renewal process and reducing the time and effort required to create quotes for renewals. Here's how CPQ can help:

Centralized data: CPQ software can consolidate customer data, including contract details, previous purchases, and pricing information, into a central location. This enables renewal quotes to be automatically generated based on accurate, up-to-date data.

Automated workflows: CPQ software can automatically trigger renewal quotes based on predefined rules or triggers, such as contract expiration dates or customer behavior. This ensures that renewal quotes are generated promptly and consistently, reducing the risk of delays or errors.

Pre-configured renewal options: CPQ Products can offer pre-configured renewal options that customers can select from, simplifying the renewal process and reducing the time required to generate quotes. This can include predefined bundles, service packages, and pricing options.

Personalized pricing: CPQ processes can analyze customer data and generate customized pricing based on contract history, usage, and customer value. This can increase customer satisfaction and retention by offering personalized, value-based pricing options.

Automated approvals: CPQ software can automate the approval process for renewal quotes, ensuring that they are reviewed and approved promptly and efficiently. This can reduce the time required to generate quotes and improve overall.

​Summing up

Automating the renewal quote process with CPQ software is a wise investment for businesses that want to streamline operations and improve customer satisfaction. With the ability to generate accurate, customized quotes in a fraction of the time it would take manually, sales teams can focus on building relationships with customers and growing the business.
If you want to take advantage of CPQ, contact KBMax for a CPQ demo. You can check KBMax CPQ Reviews 2023 - Capterra to learn more about their services.

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Leverage a CPQ Tool in the Most Spectacular Fashion

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Leverage a CPQ Tool in the Most Spectacular Fashion

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Do you fancy looking at the outside market situations, the one we refer to as market analysis?

Of course, you do!

After all, it is only after this market analysis that manufacturers can understand the strategy that competitors follow, which aids in formulating a strategy on their own to gain the right advantage.

For any business enterprise, consistent revenue is at the core of long-term success. And nothing other than sales will be helpful to bring that revenue. Predictably, the proper market analysis should bring a change in the approach to make these sales. The perfect place to introduce the right CPQ tool.

CPQ software solution have become the norm in manufacturing of late, putting more emphasis on the fact that there’s a high need for differentiation if a manufacturer has to make a mark and make those crucial sales.

But why CPQ?

It is because CPQ has the power to fulfill what the customers of today’s age expect-

An approach that focuses on them.

Quick adaption to the dynamic market.

Derive maximum value from their purchase.

Potential of CPQ for Manufacturing

With people working dominantly from their homes currently, B2B sales have made digital self-serve an imminent approach. An increasing number of customers are looking for an experience that’s positive and very intuitive in operation, irrespective of how complex the products and services on offer might be.

On the flip side, it is indeed the manufacturers that struggle to manage their complex products and look after the prospects’ behaviors and purchase preferences. Managing all of this is not easy, which is why sales reps require a solution that allows them to reduce the time taken by important but time-consuming operations like managing spreadsheets and hand this over to an automated sales solution for the most accurate outputs.

That’s what CPQ for manufacturingis all about.

Securing market share is a tricky business, and to edge ahead of the competition, there are a few things to keep in mind about offering to customers-

Delivering extra flexibility to customers based on products and services on offer.

Making customer purchase a highly simple experience for customers.

To ensure that this happens, you need to bring agility and pace with your CPQ tool. As far as the industries where it is most suitable go, the ones offering large catalogs of complex, customizable products, and here are a few of them-

Life sciences

High-tech manufacturing

Retail

Automotive

Healthcare

Tips to Unleash a Good CPQ Solution For Your Benefit

1- Clearly Define Your Sales Process

To truly leverage the potential of a CPQ tool for your business, you need to have a very deep understanding of the sales process that is followed within your organization. This needs to be done from both perspectives- engineering as well as sales.

Apart from this, you should also have clearly defined plans to guide you with perfection, allowing you to harness the platform to the highest levels possible.

2- Sort out the Data for Migration

For CPQ software solutions to work convincingly, they need to have a clear view of customer availability, pricing, and the products in the catalog. To add to it, all of these need to be integrated as a well-rounded package too, with seamless workflows and tracking systems.

This is why you need to plan the amount of historical data required to rightly put in the machine learning algorithms that will work to transform this data into meaningful insights.

3- Integration with Dynamic Technologies

CPQ for manufacturing will make the right impact only if the data flow between various B2B channels is smooth, which is why technologies need to come together in the right manner.

With CPQ integration, you can create a customized quote for customers that takes every connected channel into account- from the platform to even the mails that were exchanged during the purchase process.

The Evolution of CPQ with the New Customer

The B2B buying pattern has seen a huge paradigm shift in the last few years. Customers now look for experiences that are personalized and offer something ‘additional’ to the usual offerings.

In such situations, manufacturers looking to enhance their self-serving abilities will be in the perfect position to give a hard time to their competition.

What should you do? Get a robust and feature-loaded CPQ tool like KBMax for your business today and keep that competition at bay.

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B2B eCommerce is Exploding – Lead the Revolution With Visual CPQ

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B2B eCommerce is Exploding – Lead the Revolution With Visual CPQ

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The market for B2B ecommerce is exploding. B2B ecommerce is projected to hit $1.8 trillion by 2023, accounting for 17% of all B2B sales in the U.S.

Besides Covid, this growth in B2B ecommerce sales is being driven by tech-savvy Millennials who want to purchase business goods the same way they are buying consumer goods – online, on their own time.

B2B sellers wanting to bolster their eCommerce credentials can use a visual CPQ solution to become a digital leader in their space and supercharge online sales in the process. Read on to find out how.

Why is B2B eCommerce Overtaking Traditional Sales Channels?

The B2B sales process has always been high-touch, overly long, and unnecessarily complicated. Sales reps call on buyers in person, products are chosen from a print catalog or brochure, quotes are requested and provided, negotiations go back and forth, and after days or weeks of all this, purchase orders are finally cut and received.

Today's younger B2B buyers who have grown up with the internet don’t want to do business like this. They're used to a faster-paced environment and expect the B2B purchasing process to be more immediate and immersive. B2B eCommerce gives manufacturers the ability to meet these buyers where they are and speak to them in a language they want to hear.

These are three key reasons why online is overtaking face-to-face sales:

1. Buyers Want More Control Over the Sales Process

Today's B2B buyers want to research products at their own pace and place orders independently. They mistrust sales reps and don’t want to conform to traditional office hours and in-person meetings.

This tracks with a recent McKinsey study that found that 70% of B2B decision-makers are open to making B2B purchases online. And a Forrester survey that says 68% of business buyers prefer to do their own research rather than interacting with a salesperson.

1. The eCommerce Sales Cycle is Shorter and Simpler

Buyers are time-stretched and waiting days or weeks to finalize purchases is no longer acceptable. They're used to the immediate gratification of clicking a "buy now" button in an online store and receiving their purchases within a few days. 77% of buyers say that B2B purchasing is too difficult and complex. Digital self-serve makes it fast and straightforward.

1. Buyers Are Seeking Immersive Shopping Experiences

Buyers don’t want to read lengthy product descriptions and study generic product images. Why? 1) Because it’s tedious, and 2) they want to see what they’re buying before getting out their credit card.

Manufacturers selling complex, configurable products can use visual CPQ (see below) to display custom products from every angle on their websites. They can render products in 3D and use AR and VR to fully immerse visitors in their world. It’s a simple equation: the more impressive visual impact you have on buyers, the more likely they are to buy from you – no salespeople required.

How Can Visual CPQ Make B2B eCommerce More Impactful, More Effective, and More Profitable?

When designing your B2B ecommerce website, you need a way to present your products in a highly detailed, highly visual fashion. The fastest and most effective way to accomplish this is by embracing a visual CPQ solution.

What is Visual CPQ?

Visual CPQ (Configure, Price, Quote) is a way for online buyers to configure, price, and generate custom product quotes in real-time while getting visual confirmation of their purchase choices. Sellers can embed a visual 3D product configurator into their product pages, letting buyers customize 3D products by interacting with products on their screens.

How Does Visual CPQ Supercharge B2B ecommerce?

Visual CPQ solutions enable a more immersive buying experience while simplifying and streamlining the purchase process. As buyers configure products within the 3D configurator, the CPQ solution calculates prices in real-time and displays them on-screen. Once the configuration is finalized, it instantly generates a custom sales quote.

Buyers can purchase their configured product immediately or take the quote away for sign-off by management. CPQ captures all the behavioral data from the engagement so that sales can follow up with prospects that don’t convert by phone, text, or email.

In addition to quotes, KBMax automatically generates documents and files for engineering and the shop floor. It takes the product information captured during product configuration and outputs CAD drawings through any CAD platform and BOMs, CNC cut sheets, additive manufacturing files, and assembly guidance – whatever’s needed to kickstart production and get products into buyers’ hands faster.

How Do B2B eCommerce Buyers Benefit from Visual CPQ?

Puts the Buyer in the Driving Seat

With visual CPQ, buyers get to see every essential product option in lifelike detail on-screen. They receive highly accurate pricing in real-time and don’t have to wait for quotes. They get everything they need to make an informed purchase decision, relieving some pressure and purchase anxiety. Without a sales rep breathing down their neck, they can progress at their own speed.

Accelerates the Purchasing Process and Lead Times

Today's buyers want to make quick purchase decisions and see immediate results. Visual CPQ uses automation to significantly reduce the time it takes to finalize even the most complex sales, from days or weeks to just minutes.

Provides Real-Time Feedback

Buyers get immediate product and pricing feedback. No more “I’ll get back to you on that,” “My manager will send you a quote over the next few days,” or “Let me just confirm with the engineering team.” It’s instant.

Creates Scope For Endless Product Configuration Options

Before visual CPQ, it was impossible to sell highly customizable products online. With visual CPQ, it's a simple drag-and-drop exercise to configure products to spec from hundreds, thousands, even millions of attribute combinations.

How Do B2B eCommerce Sellers Benefit from Visual CPQ?

Reduces Need for In-Person Sales Calls

Because buyers can do all their purchasing online from your B2B ecommerce website, your sales reps need to make fewer in-person sales calls. Reps can instead spend more time prospecting for new customers and nurturing relationships and less time traveling, number-crunching, and formatting in Excel.

Removes Sales-Manufacturing Complexity

Is your engineering team sick of getting napkin sketches from sales reps who have promised the world to a customer with a product that’s impossible to deliver?

With a rules-driven visual product configurator, that will never happen again. Every configuration is validated up-front and guaranteed to be optimized for engineering and manufacturing efficiency.

Furthermore, with sales, engineering, and production using the same visual CPQ tool, you get a single source of truth for manufacturing that enhances collaboration and visibility while breaking down data silos.

Increases Sales and Revenues

Buyers who feel confident and in control of their purchase decisions place larger orders and buy more frequently. What’s more, by making your entire product line available to purchase online, you massively extend your reach and can sell to a global customer base.

Reduces Costs

Visual CPQ solutions increase efficiency and reduce the need for human input through automation. This dramatically lowers your sales, engineering, and manufacturing costs, making your business more profitable than ever.

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Customized vs. Configured Software: Which is Best for Your Business?

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Customized vs. Configured Software: Which is Best for Your Business?

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When you’re looking at mission-critical software for your business, you have a choice. You can opt for “out-of-the-box” software that can be configured to your needs, or you can hire a firm to design custom software from the ground up.

Which type of approach is best-suited for your company – configured software or customized software? That’s the question we set out to answer in this article.

Key Takeaways

What is configured software?

What is customized software?

Which option is best – customized or configured software?

What is Configured Software?

When comparing configured software vs. customized software, it helps to know exactly what you’re looking at. In reality, both types of software have their benefits – and their downsides.

Configured software is any pre-existing application that includes tools and add-ons you can use to customize the experience for your company’s specific needs, without having to write any new programming code. You can use configured software to adapt and best match your business operations for integration with the other software you currently use.

For example, KBMax’s CPQ software can be easily configured for products offered by individual companies. There’s no customization required – the CPQ and product configurator software can be fitted to a business’ needs through options within the software itself.

Some features of configured software include the capabilities for:

Adding custom fields to forms

Configurable user dashboards

Setting user access levels

Modifying templates

Installing plug-ins

Integrating with existing platforms

Modifying app properties

How Does Configured Software Work?

Configured software is delivered to you “out-of-the-box,” ready for standard installation. It typically comes in a default configuration, pre-loaded with basic tools for common functionality. Your IT staff or consultant can then configure the software to match your specific needs.

Most configured software makes configuration relatively easy by employing selectable options, pull-down menus, and user-installable plug-ins and add-ons. Configured software does not require any programming to enable a given configuration. All configuration tools are typically included with the software or available from the software manufacturer, sometimes at an additional cost.

What Are the Benefits of Configured Software?

There are several benefits of choosing configured software over customized software. They include:

Lower cost: Off-the-shelf configured software typically costs substantially less than custom software – and has lower maintenance and support costs over the long term.

Easy integration with other software platforms: Most configured software is designed to work with your existing back-office systems (such as your CRM or ERP) out of the box with no customization necessary.

Faster speed to operation: Most configured software can be installed and configured in much less time than it takes to custom-build an application from scratch.

Regular upgrades: Configured software is regularly updated by the developer for all users; customized software has a less frequent and more customized upgrade schedule.

More support options: Most off-the-shelf software can be supported not only by the original manufacturer but by many third-party firms, while customized software is supported only by the firm that built the app.

What Are the Drawbacks of Configured Software?

Despite its many benefits, configured software is not ideal for every situation. Some of the biggest drawbacks of configured software include:

Limited functionality: An out-of-the-box configured solution may lack some of the functionality of custom software.

Limited customization: Configured solutions will not be as customizable as a custom-built solution.

Possible integration issues with custom software: If you’re already running some custom software, a configured software solution may not easily integrate with a less-standard custom platform.

Requires expertise to configure: Just because software is configurable doesn’t mean it’s easily configurable – you may still need to employ an experienced third-party agency to perform the configuration.

What is Customized Software?

Unlike configured software, which is standardized and sold to multiple users, customized software is developed for and marketed to one company at a time. Customized software requires writing new programming code to meet the specific requirements of a given business.

The goal of customized software is to provide a solution that is tailored to the needs of an individual business. Customized software is ideal for creating all manner of custom elements, including:

Menus

Dashboards

Forms

Reports

How Does Customized Software Work?

Some customized software may start with a codebase that is then customized for individual clients. This type of software builds on established code that is customized for specific needs and applications. The customization goes well beyond the basic options available with configured software and requires advanced programming.

Other customized software is developed from the ground up specifically for a single client’s needs. In either case, there’s a lot more work involved with customized software than with configured software, and that’s reflected both in longer development times and higher costs.

What Are the Benefits of Customized Software?

There are several reasons a company might want to go with a customized rather than configured software solution. These benefits include:
Better fits your business operations: By customizing all or critical software elements, you can ensure that it perfectly fits the way your business works.

Integrates with other custom solutions: Not all configured software can easily integrate with custom software solutions. Custom software can be coded to integrate with any other software and platforms you use.

Entirely customized reporting: If you have a certain way you want things reported, developers can custom code reporting solutions.

A solution truly unique to your company: With custom software, you get a solution that no other company has – it's totally unique to you.

What Are the Drawbacks of Customized Software?

While customized software might sound like the perfect solution for your business, it has several significant drawbacks, including:

High cost: Developing new software is an expensive proposition. The cost of developing custom software varies wildly. ConsultingWhiz estimates that the price of a medium-sized customer software development can run between $10,000 and $50,000, while a larger and more complex project can cost up to $1 million or more.

Long development cycle: Unlike configured software, which can be up and ready to use in a matter of days, developing custom software is time-consuming. According to a GoodFirms survey, custom software takes, on average, 4 to 6 months to be developed.

Upgrade issues: Unlike configured software, which typically has a regular upgrade cycle, custom software is generally upgraded at the developer’s whim.

Compatibility concerns: Custom software does not always work with all available platforms and apps unless custom integration is developed.

Lack of documentation and training: Firms that develop custom software are not always experts in writing documentation or providing training.

Support limitations: When you have a company develop customer software, they're the only company that supports it – you don't have the option of changing support companies later.

Which Option is Best – Customized or Configured Software?

Choosing between configured or customized software can be challenging. You can follow these general recommendations, however.

Go with configured software if:

You want to keep your costs reasonable,

You need the application quickly,

You want to be assured of continuing upgrades and support,

You want easy integration with the most common apps and platforms.

Conversely, go with customized software if:

You work in a niche industry and need highly customized operations or reporting,

You need compatibility with other customized solutions,

You want a truly unique solution that no other company can replicate, giving you a distinct competitive advantage.

The bottom line is that today's configured software is the better solution for most companies – it will cost less money, be available faster, and probably fit most of your needs.

However, if your needs are unique and you have the time and budget, a custom software solution might be the only way to go.

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Visual Configuration- Better Business in High Definition!

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Visual Configuration- Better Business in High Definition!

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While it’s not an easy job being a manufacturer, if you think being a customer is easy, think again. Ordering is as tricky and difficult as creating a product that can bring new customers and retain the existing ones at the same time.

Now this purchase process can involve two things- simple products with a lot of probable variations as well as complex products that have countless variations. Visual configuration aims to cancel out the difficulties that come with complex products and make both purchasing and selling a seamless experience for customers and manufacturers.

What is Visual Configuration?

Visual configuration can be defined as the process of personalizing the customer products with the help of 2D or 3D visualizations. This entire process is made possible through visual configuration software, that is used by either the team of sales reps or customers to provide a highly immersive experience at the time of shopping.

Companies can sell their products to customers with a lot of efficiencies and take care of their preferences at the same time, something only made possible through a proper visual configurator. The best thing about the visual configuration is that it’s not limited to any particular kind of business model- it can work with the same level of performance in both B2B as well as B2C models.

The right visual configuration software leverage the power of visualization to the fullest, increasing customer satisfaction, the performance of the sales teams, and accurate orders too. A CPQ software with visual configuration capabilities is what should be your basic requirement when you are on the hunt for the former.

How Does Visual Configuration Enhance Business?

With the kind of technological prowess that’s on offer, a visual configurator has a pretty huge impact on the overall user experience. They make the journey of a potential buyer short and immersive, eliminating the situation where the sheer length of the buying process is enough to tip a customer off.

Here are some of the ways with which visual configuration software enhances the business processes for the betterment of user experience-

1- It Delivers a Superior Customer Experience

The more we speak about the importance of customer experience, the lesser it is. The sophistication levels in the buying process of a customer and the ways to ensure it are in the books of sales strategy for the team of reps today.
When a product is configured with visuals, it’s a much better experience than just going through the numbers when knowing about the technical specifications or dimensions. Visual configuration empowers the customers by providing them with an amazing experience during the whole configuration experience. In short, it’s much more convenient, attractive, and time-friendly.

2- Customers Know What They are Buying

One of the biggest features of a visual configurator is that customers can witness and decide on the product that they are buying. It has constantly been proved that humans process images 60,000 times faster than text-based information.

As a result, customers have a real-time view of the product that they will be receiving finally, and there’s no need to leave anything on imagination. Visual configurator makes it happen. There’s also a sharp decline in order refunds and returns, which is a result of improved order accuracy.

3- Makes Ordering of Complex Products Seamless

Humans have always been quick visual learners. Despite that, sales teams find it difficult to educate customers about complex products and their variations. It’s very hectic, as customers need to be completely made aware of what can be customized and what can’t. After all, even configuration has certain rules that need to be followed.

However, visual configuration eliminates the education part for the reps, making their lives easier. Other than in-built rules, they can also be custom-fed into the rules engine of the software, ensuring that customers don’t order a configuration which you are unable to manufacture in the first place.

As the sales team gets liberated from hours to deliver learning to customers, they can focus more on the tasks that are truly important for the company’s betterment.

Redefine Your CPQ with Visual Configuration

It would be wrong to say that a visual configurator does not make an impact on the CPQ and business. To be true, it does a lot more than that. With quick and accurate order processing, higher revenues become a huge part of the scheme, leading businesses to scale up faster than ever before.

KBMax delivers it all to perfection!

Witness it in action to believe it.

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How Product Configurators are Transforming the Manufacturing Industry

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How Product Configurators are Transforming the Manufacturing Industry

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According to Accenture Interactive, 83% of companies use some form of CPQ (Configure, Price, and Quote) solution, many of which include product configuration technology (product configurators.)

Product configuration software enables customers to design or customize their own complex products. It also allows companies to streamline their sales, engineering, and manufacturing operations to serve their customers' needs better.

Because product configurators provide a more direct shot from the customer to the finished product, they transform the manufacturing process. Not only is the time between the initial query and final production shortened, but designs are more accurate, errors are minimized, and profitability is greatly enhanced.

What is a Product Configurator?

A robust product configurator is an online tool that helps customers or sales reps design and visualize custom products. The best product configurators enable customers (sometimes with the help of sales reps) to design their own custom products in real-time and receive automatically generated quotes, bills of material, and more.

The process typically starts with the customer choosing from a menu of available items. The customer then selects customizable options according to their needs – different colors, sizes, accessories, and the like.

With a visual product configurator, customers see a 3D rendering of the custom-designed product in real-time, so they have a better idea of what the finished product looks like and how it will function. It makes configuring highly complex products easy, even for non-technical users.

After the design is finalized, the product configurator ties into your CPQ platform and automatically generates key information for the customer, including pricing. When the customer okays the design, it is automatically sent to your engineering staff and manufacturing facility to be produced. The entire process minimizes the traditional middleman role of your sales staff, resulting in more direct and accurate communication and shortening project times.

Any company that does made-to-order manufacturing should incorporate product configuration as part of their sales tool kit. It eases the job of your sales force, facilitates faster and more accurate communication between all departments, streamlines the design and production processes, and results in more satisfied customers.

How an Online Product Configurator Supercharges Sales

Companies that add product configurators to their websites or sales kits find that it helps them increase sales and reduce the length of the sales cycle. Here are the key benefits that result from using a product configurator.

1. Creates Unique Products

It isn't a one-size-fits-all world anymore. An increasing number of customers today demand unique product solutions. Any customizations you offer can be easily accessed via the product configurator by either your sales rep or customers themselves, resulting in genuinely custom-designed products.

2. Automatically Generates Quotes and BOMs

Because the product configurator directly interfaces with your CPQ solution, it can quickly generate price quotes and bills of materials (BOMs) based on the customers' custom designs. Any customizations made are easily factored into the final price – without the need for a salesperson to manually scramble for costs and quotes.

3. Optimizes the Production Process

With product configuration, sales orders are automatically converted into manufacturing orders. By eliminating manual operations and typical back-and-forth communications, the entire process is streamlined, which helps to create more accurate and efficient production schedules.

4. Shortens Time to Production

The use of product configuration software substantially shortens the time between the customer order and production. KBMax, for example, cuts the sales/engineering process from weeks to just minutes. This enables more efficient scheduling of your manufacturing facilities and puts the finished product into customers' hands more quickly.

5. Automatically Generates Technical Drawings

Once the customer finalizes the product design, the product configuration software automatically generates technical drawings, in digital format, through SolidWorks and similar CAD systems. Engineers can take the technical drawings and validate them as-is or customize them further if necessary.

6. Reduces Engineering Costs

Engineering and design are both time- and labor-intensive. Product configuration software transmits detailed design information to the engineering departments, improving engineering efficiency and reducing overall engineering costs.

What to Look for in Product Configurator Software

Product configurators should be fully customizable and efficiently handle your most complex products and customer requirements (your products are likely to get more complex over time.)

Adding new product and pricing rules should be easy, even for non-technical users. You don’t want to have to call up a specialist agency every time you add a new variant to your catalog.

Product configurators need to directly integrate with your existing CAD programs, design platforms, and manufacturing processes. Because product configurators are more than just sales tools.

Product configurators should integrate with leading B2B eCommerce platforms. You should be able to embed your configurator into an external website for use by customers.

The product configurator you choose needs to be user-friendly for your customers, sales reps, engineers, and manufacturing staff. Everyone involved needs to be comfortable using the software to design and produce your customers' custom products. This ensures widespread adoption and maximum ROI.

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WHY PRODUCT CONFIGURATORS ARE INTEGRAL TO B2B E-COMMERCE

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WHY PRODUCT CONFIGURATORS ARE INTEGRAL TO B2B E-COMMERCE

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There was a time when it did not take long to impress a customer. Basic products, simple functionality, and a handful of customization options- that’s all it took to close a client. Head to the present day and you will find these ‘supposedly simple’ products and their customizations have blown out of proportions.

Online purchasing through the high number of e-commerce websites has become the new normal. Easy selection, an abundance of product information, and the sheer convenience of it all have the world going for it.

Comparison of countless similar products, reviews, and even their pricing are some of the broader things that have been made effortless by e-commerce websites. With such a good enough purchase experience, customers are surely bound to come back.

But, all this is about the e-commerce experience for a customer.

All these customizable products are referred by manufacturers as complex products. How do they deal with things at their end? How do they manage the sheer existence of these multiple options.

Product configurators are the answer to this.

The World of Product Configuration Tools

In the present world, the existence and implementation of product configurators has become an essential aspect to create a truly amazing B2B e-commerce website portal.

For manufacturers that provide their customers with countless configurable products, there’s always a degree of reliance on the network of vendors and resellers, other than the usual team of sales reps to attract new prospects in the market.

With great product or sales configuration, sales reps are offered a room for a lot of flexibility in taking customers through all of their solutions by asking answers to a simple set of questions, giving the reps with an idea about what a customer actually wants. Technical terms call it the process of guided buying/selling.

Yes, you might have pretty fancy catalogues or spreadsheets that you are think do make an impact. Not to be rude, but they come nowhere close to the highly intuitive, immersive, and highly engaging experience that’s in store for customers with good product configurators.

Reasons Why Product Configurators Integral for B2B E-Commerce

So, we have talked a lot about how spreadsheet catalogues are taken to new levels with the right excel product configurator. Therefore, this is now the right time to take yout through some reasons as to why product configurators have become pretty important for B2B e-commerce-

1- Nothing Makes Complex Products Better Than Them

Assuming too much is wrong anywhere, and the B2B is one big place to leave a lot to chance. It’s an area where the products involve a lot of features and combinations.

A product configurator makes room to piece these features and combinations together as they want them to be. In fact, this is a much preferred option than listing every possible permutation down in those catalogues.

2- The Whole Sales Team Benefits with Configurators

With a customer having clarity of thought on what they actually want, the entire sales department is saved with a lot of time. The moment someone sends a quote, the prospect immediately gets converted to a lead.

Your sales reps hugely benefits from this, as they get to focus on genuine leads and also dedicate ample time to other aspects of the operations as well. The quote generation process which used to take weeks, now gets completed in mere minutes, freeing up an unimaginable amount of time.

3- The Manufacturing Gets Perfect Orders

Porduct configuration software are an amazing way to keep the customers completely happy. Why? Because they get to choose every single thing about the product, the manufacturing department gets nothing but the absolute perfect specifications.

The other side to it is that you are sure of the availability of raw materials, because with the level of automation a configurator offers, it is also keeps a track of inventory, making streamlining the other name for your brand.

4- Configurators Become a Huge Marketing Factor

No marketing beats making customers themselves an integral part of their entire order process. With product configurators, customers get a chance to become ‘creative’ for once, and that too for their own product. This makes them invest a lot of time on your website per se, and engagement never hurts anyone!

Moreover, in the case of certain complex products, there’s always a chance that the customer will want to share their creation on social media , which can bring other potential customers to your e-commerce website as well.

What Configuration Means for the New World

Clearly, this is now a great time to be in the manufacturing domain. There is so much that you can offer to your customers and keep a lot of good things for yourselves too. While you get flexible quote generation, reduced error times, and increased productivity, customers get a different dimension of excellent purchasing- a website where they would like to spend more of their time and secure their purchase one after the other.

It’s quite true- great product configurators like KBMax do make a whole lot of difference.

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LEVERAGE CPQ AND B2B E-COMMERCE FOR NEXT LEVEL BUSINESS!

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LEVERAGE CPQ AND B2B E-COMMERCE FOR NEXT LEVEL BUSINESS!

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There has never been a better time to do business than this time we are living in. The pace of innovation is at an all-time high, with the resulting technologies topping it all off. The result is a highly competitive and dynamic environment that has taken the world by storm and convinced a lot of businesses to actually go ahead with their digital transformation.

Everything said and done, businesses taking the route of e-commerce to entice their customers is a trend today. Make no mistake though, customers are more informed than they ever were, and they expect a lot from any manufacturer in the process. Also, when the whole purchase and sell scenario goes over to the B2B segment, the stakes get dramatically higher.

Exactly where CPQ ecommerce is changing the face of how customers interact with businesses.

For a large number of B2B organizations, e-commerce has become the most preferred channel for making sales. However, simple e-commerce is something that everyone is doing. This makes it all the more essential to look a step further and make their existing solutions better and more refined.

Again, exactly what CPQ for e-commerce does.

But, what is B2B e-commerce, and how does CPQ make it a more worthwhile experience? And how does your business gain from all of this?

Let’s dig into all of it, shall we?

B2B E-Commerce

As far as a generic defining statement is concerned, B2B e-commerce refers to the selling of products and services between two business enterprises through a website channel. A website usually eliminates the need for a business to connect with a sales rep for entering in a transaction.

Understand that B2B e-commerce of enterprises is pretty different from the usual e-commerce, where the enterprises include transportation, high-end, and even industrial manufacturers.

In terms of the market situation, B2B e-commerce is a highly dynamic market, where things fluctuate by the dozen. A large number of B2B e-commerce features have now become the way B2B as a whole is perceived.  A typical day in B2B packs a lot, which includes dynamic prices, personalized pricing, discounting, and countless other factors that are just not within the reach of basic B2C platforms.

This is where manufacturers require a set of sophisticated CPQ product rules to come to the fore, which allow for taking note of different variables and deliver accurate configurations as defined by the different product rules.

CPQ Features in a Glance

Here’s a brief look at some of the CPQ features that contribute to making it the force it is today-

Creating accurate and instant quotes, keeping in mind the different pricing and discount scenarios.

Reducing expensive revisions through efficient rework on the visible product solutions in real-time.

Easy integration with existing CRM solutions for quicker acceptance.

Hassle-free configuration of orders while also sticking to the pricing rules.

Use the existing data to keep the margins up, even after customizing product/ service offerings to the customers.

With a visual CPQ solution, manufacturers achieve two of their biggest goals- i) gain the first-mover advantage to gain an edge over competitors, and ii) understand the customers in a way better than ever before.

How CPQ for E-Commerce Enhances B2B Enterprises

As far as the benefits of CPQ for B2B enterprises go, the following are the most dominant ones-

Perfect Quotes at a Breakneck Pace

So, you have a cutting-edge platform that allows customers to configure the product as they wish it to be. What about a situation when there is a sudden urge to add something at the last moment? The cost will go up to an extent in such a case.

A CPQ software eliminates the need to actually consult a sales rep to make changes, automating this process of creating a quote and delivering it in real-time. Thanks to this automation, sales reps get to focus more on building relationships with customers, rather than updating sheets and doing other redundant tasks.

Clients Get to Visualize Their Product

The customers of today are more demanding than they have ever been. The quicker they get a response to their query, the better satisfaction they experience. Take the instance of Amazon, where some products get delivered on even the same day.

Product images make for smooth sailing, where even the most complex products become pretty easy to understand. Visual CPQ allows 2D and 3D renderings of products that translate to a highly immersive experience for a customer, specifically on B2B e-commerce platforms. Products become alive in real-time, making for an absolutely amazing experience.

Reduce Sales Cycle for B2B

For everyone with the slightest of awareness, it is a known fact that B2B sales cycles are markedly longer than your usual B2C process. That’s pretty understandable too, given that the costs and scale of delivery dramatically shoot up as well. The product complexity makes it all the more appalling.

As far as product complexity, pricing, and quoting go, CPQ takes this complexity only out of the entire equation. This results in highly reduced sales cycles for B2B companies. Even the errors get reduced, which ultimately leads to a reduction in the cycle duration again.

Staying Ahead of the Curve

To truly stay relevant in this competitive market, sales reps need to be trained for more than one particular market. Given how the coronavirus pandemic has shaken things up, there’s a need to explore new markets to stay vigilant and afloat at the same time. B2B e-commerce is one amazing way to do that.

With KBMax as your CPQ tool, this diversification becomes easier than ever before.

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SALES VP's CAN SORT 4 HUGE CHALLENGES THROUGH CPQ SALES

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SALES VP's CAN SORT 4 HUGE CHALLENGES THROUGH CPQ SALES

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The life of a VP of Sales is already tough, and the onset of COVID-19 changed the game completely. Even the already existing challenges have become more difficult to solve.

Thankfully, CPQ sales go a long way to tackling those challenges for sales leaders today. The challenges we will be trying to address here are as follows:

1. An incorrectly defined sales process

2. Those painfully slow sales cycles

3. Lack of required skills among sales reps

4. Lack of capabilities that involve virtual selling

CPQ Sales- What is it?

CPQ sales refer to the sales made through CPQ software. But what is CPQ software? It’s software that’s designed for the purpose of helping companies to configure, price, and quote products – often the most customizable ones. CPQ software brings automation to some of the most time-sapping sales procedures, removing errors, and then accelerating sales cycles.

Let’s split CPQ into three key stages – configuration, pricing, and quoting – and then dig deeper:

Stage-1: Configuration

Configuration of complex products with some hundreds, if not thousands, of different potential options is pretty challenging for sales reps. With CPQ, sales reps can configure the products with a “product configurator”, guiding them through the entire process, making sure that every single configuration is perfectly optimized from the engineering, profitability, and customer satisfaction perspectives.

Product configurators are either text-based or even visual. Text-based configurators shoot a number of questions for filtering out the inferior options until a rep is left with the right kind of  product selection. Through visual product configurators, sales reps can easily interact with images and text as well.

CPQ product and pricing rules, built within the configurator’s back-end regulate the configuration process. They keep a check on how different products can be configured, making non-viable configurations completely impossible and eliminating errors.

Visual product configurators come in all sorts of shapes and sizes. They range from the basic 2D interfaces to be used internally by sales reps, right till the 3D interfaces with VR and AR capabilities. These advanced, 3D configurators provide an immersive, lifelike buying experience, that can be embedded in an external, customer-facing website for the end-customers to make use of independently.

Stage- 2: Pricing

CPQ users experiment with multiple product options when dynamic pricing rules work away in the background, calculating the prices for products in real-time, making it easier for buyers to stay within budgetary constraints, giving them greater control.

Stage #3: Quoting

Once the user has configured their product, the CPQ system generates a quote automatically that it sends out to its customer. Robust CPQ solutions like KBMax even auto-generate CAD outputs, product renderings, and other related technical documents. These documents get appended to the quote or then get passed to engineering for approval.

Using CPQ Sales Configuration for solving the 4 Key Challenges Faced by Sales VP’s

Challenge- 1: A Poorly Defined Sales Process

It doesn't matter how skilled your sales team is; you can't efficiently operate without a formal sales process. It's even harder to groom the new hires, which makes it more difficult to predict revenue, gauge performance, and provide a consistent customer experience if, say, an important member of the sales team leaves in between.

The more complex a product and the more customizable options, the more crucial it becomes to standardize an entire sales process. It’s not feasible to expect the sales reps (especially new hires) to create faultlessly optimized products when there are thousands of possible permutations to choose from. The result – customers receive products ill-suited to their needs, and you risk losing a customer to a competitor.

Guided selling takes sales reps with a series of cautiously defined questions that cut down large product catalogs in perfectly optimized customer-specific selections. New hires can be now be brought to speed in just a few days, becoming highly trusted advisors to customers.

Challenge- 2: Very Slow Sales Cycle

CPQ sales take a few minutes, and not days – all the configuration, pricing, and even quoting processes can now be carried out in mere clicks. By standardizing the areas that have the most errors and time-consuming sales processes, you get your sales teams’ out of Excel so they can focus on the major revenue-generating activities in which they are actually good at.

The different product and pricing rules ensure that every single product configured by a sales rep is optimized for an engineering efficiency and then validated rightaway. Sales-engineering then becomes effortless, where only the most viable configurations make it downstream. CAD and design automation translates to lesser back-and-forth, lesser delays, and also an end to those engineering bottlenecks.

Challenge- 3: Lack of required technical knowledge with reps

Training sales reps through every single product is a very big challenge in a huge number of industries. The complexity of a product and then the length of the overall onboarding process are closely related – time is short to get the new hires up to speed.

CPQ sales make grooming new hires pretty simple and transforms the troubled sellers into some really top performers. Here’s how:

Guided selling brings sales reps, via upsells and cross-sells, the best product for every customer at the perfect margin for you.

Product and pricing rules render configuration errors totally impossible – reps no longer need to worry on the suitability or compatibility (i.e., whether the product they configure will actually work in the real world.)

Visual product configuration brings sales reps a clear understanding of the products which can be easily conveyed to buyers.

Adding a visual product configurator to an eCommerce website allows the end-customers to browse and make a purchase without the input of any sales rep. Fewer sales reps lead to less training.

Challenge- 4: Lack of Virtual Capabilities

COVID-19 has brought a halt to business travel and even personal sales meetings, where research suggests that remote work and virtual selling will dominate in the new normal. Companies, as a result, will need to find new and more engaging ways to virtually sell their products. But more than half of the respondents to Gartner's CSO Priorities Pulse Survey find themselves unable to deliver the same value through virtual sales as they can do with personal interactions.

3D product configurators bring new products to the fore. Buyers can then configure their products by just clicking and then also moving different options around their screen. Add VR and AR into it all, and you provide a buying experience that’s more compelling than actually viewing a product in reality and more captivating than configuring a product from just basic pictures and long descriptions.

Salesforce CPQ- The Right CPQ

Salesforce gives one of the most popular CPQ solutions available on the market. It’s a pretty sorted tool. Salesforce CPQ then questions the sales reps about every prospect and then based on the answers, picks out the best configuration at the perfect price before generating a quote as PDF.

Why Salesforce CPQ?

The biggest reason to choose Salesforce CPQ over a visual CPQ solution like KBMax is if your company is already invested in Salesforce CRM – your sales, marketing, commerce, and service teams like it, and they also know how to use it. The popularity is one of the biggest Salesforce CPQ features.

Why not Salesforce CPQ?

The biggest problem with Salesforce CPQ is that it's visually weak. If you wish to sell complex products, leverage the CAD automation, and also provide a highly immersive 3D buying experience, then you are going to have to a) implement an alternative like KBMax CPQ, or b) embed a solution like KBMax into your existing Salesforce platform. Like a registered Salesforce partner, KBMax users can manage every single lead within the Sales Cloud.

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CPQ Means A Complete Change in The Lives of Sales Reps

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CPQ Means A Complete Change in The Lives of Sales Reps

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CPQ (or Configure, Price, and Quote) is a streamlined sales tool that allows companies to automate the configuration of complex and customizable products, calculate their dynamic prices, and also create different sales documents like business quotes, proposals, and even estimates.

Thanks to the advancements in Big Data and AI, B2B buyers can now complete an end-to-end purchase digitally without any need for human input, which has left people wondering: what will the sales rep’s role look like in, say, five years? Will it even exist at all?

There’s no doubt at all that a huge number of repetitive sales tasks are pretty ideal for automation. CPQ sales have eliminated a big chunk of sales load in some of the most forward-oriented organizations, reducing their costs, improving scalability, and boosting sales as well.

Sales reps will continue to play a crucial part in the success of B2B businesses going forward, albeit in a role that will have transformed digitally. Digitizing repetitive, menial sales tasks and then ditching legacy software like Excel will allow them to focus on what they are good at (and what they enjoy most)–creating new customer relationships, nurturing the existing ones, and, ultimately, generating more revenue in the process.

What can CPQ sales do in truth?

The role of sales reps has become an increasingly challenging task in recent years. Growth in demand for customized goods means that reps need to learn to advise customers on hundreds of different product options, each with its own sets of rules and dependencies.

Narrowing down vast catalogs of highly complicated products is a huge challenge for even the most experienced reps, let alone new hires. So the reps stick to what they know, configure the same band of products repeatedly, irrespective of their customer’s individual requirements. Non-viable configurations are pretty common, and engineers are then left to pick up the pieces, which leads to delays, reworks, and very low levels of retention.

Tools like Salesforce Revenue Cloud make these configurations pretty easy for both sales reps and buyers. Reps are then provided with a series of carefully designed questions to identify the perfect product for every customer. At the same time, the logic into the software’s back-end ensures that every configuration is appropriately optimized for profitability and better engineering efficiency.

Visual CPQ sales configurators like KBMax take a little different approach. Rather than just answering simple questions, sales reps can configure their products with a highly intuitive 2D or 3D visual interface. They just drag, drop, point, and click for adding or removing parts, changing colors, resize sections, etc., with the changes getting live updations.

Calculating prices is the next huge hurdle that sales reps confront. Taking figures off a static price list is pretty sorted. But data-savvy businesses use dynamic pricing strategies and boosting their overall profitability by as much as 25% as a result. With dynamic pricing, prices get regularly updated in accordance with the changing market conditions.

Factors like customer location, day of the week, demand, and even competitors’ prices get clubbed with unique customer profiles for calculating intelligent prices that create a purchase response with the best possible margin.

Data gathering and analysis, and then calculating the dynamic prices, are too much to handle for any human pricing team. Just the manual updating of prices would be time-prohibitive! CPQ automates the complete dynamic pricing process, ensuring that no money gets left on the table. Tools like KBMax CPQ Analytics and Salesforce Revenue Cloud “Einstein” lend relevant predictive pricing insights by analyzing crucial user experience data.

Another significant drain on sales reps’ active selling time is generating quotes in Excel. CPQ sales assist here too. The generation of all kinds of sales docs like quotes, proposals, and estimates, get carried out just with the touch of a button. With KBMax CPQ, reps can create multiple technical drawings in CAD, BOMs, CNC cut sheets, and more without the need for any engineering input at all. KBMax Connector connects all the dots, connecting the CPQ to Sales Cloud integration, NetSuite, Salesforce, and also a number of other third-party systems.

CPQ Sales & Self-Serve Revolution

The B2B buyer has completely changed now – demographically and even psychologically. The old guard is now getting replaced by a new generation that has risen while companies like Amazon, Netflix, and Uber have come in front. They are so used to dealing with the many tech giants that they have come to expect the same level of customer experience when they do make a B2B purchase for work.

Today’s buyers want everything to be easy and super-smooth. They don’t have the time to connect emotionally with a sales rep during their regular working hours when they get to make a purchase independently, at their own pace, at any time, and with any device. With CPQ sales, companies give buyers with the self-serve option.

A visual product configurator that’s embedded into a B2B eCommerce website guides buyers through the configuration of the most complicated products, calculate optimal price, and then also generate a quote for them to pay or share with their team. A process that usually took 20+ calls and emails amidst the buyer, sales rep, and engineer now get done without any kind of human interaction whatsoever.

What Does the Rise of CPQ Mean for the Sales Rep?

Most sales reps will have to agree that a number of their day-to-day responsibilities are perfect for automation. The busywork–finding and qualifying the leads, scheduling of meetings, sending follow-up emails, and building reports– can all be done easily.

Reps spend a merely 37% of their time making active sales. They would welcome any opportunity give attention to more meaningful and revenue-generating work, where insights, emotional intelligence, and relationships are critical factors to success. These are the intangible, “human” skills that machines can never possess, at least not in our lifetimes.

Yes, some sales jobs will be lost to automation. But these will be jobs at the lower end of the pay scale. Plenty of well-paid, highly-skilled sales roles get created for critical problem-solvers.

The most productive sales reps will be the ones combining a command of advanced technology like CPQ sales with persuasive, interpersonal skills.

Companies are made up of living people. And real people desire a real human connection. There’s a personal component to sales that no AI, and no individual either for that matter, can be taught. Not even through Salesforce Revenue Cloud training.

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Implement Complete Sales Automation with CPQ! 

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Implement Complete Sales Automation with CPQ! 

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A sales rep's work is never complete. What with writing emails, maintaining records, scheduling meetings, preparing reports, calculating prices, providing quotes, submitting contracts, and chasing payments, there's just not enough time left to focus on actually making a sale.

An average sales rep spends just 36% of their time on activities that generate revenue, and the rest are burdened in work. Marketing and sales automation software frees the reps from the most tiring and repetitive tasks, permitting them to focus more on the "human" side of their responsibilities–building new connections with prospects and boosting the existing relationships.

Investing in sales automation creates rapid ROI and makes a positive impact on a broad range of critical KPIs. The best sales automation software increases sales productivity by a heavy 14.5%. If this wasn’t incentive enough, it also increases the deal closures by 30%, reduces sales cycle duration by 18%, and also cuts the amount of time spent on sales admin by 14%.

What Does Sales Automation Do for Your Business?

When used properly, sales automation can:

level your sales productivity and performance, boosting the win ratios and then increasing the deal sizes.
increase the number of sales reps quota for meetings, which translates to more commission, higher job satisfaction, and better employee retention too.
make onboarding and training new recruits quick and easy, turning every rep into a top performer.
reduce sales cycles and responsiveness of quotes, getting more deals moving through the sales pipeline, increase customer satisfaction, loyalty, and retention.
empower the non-technical sales reps to configure, price, and quote highly complicated engineer-to-order products.

break down silos and improve the sync by the converging sales teams within a centralized sales hub.

give the managers a better visibility and control over a dispersed salesforce, boosting accountability and also ensuring that no sales lead slips.
streamline the workflows and their approvals, that mean no more missed calls and emails.
allow sales reps to harmlessly  move over to remote work by providing them access to cloud-based tools.

provide a wide range of self-serve options to buyers who like to research and purchase their products independently.
improve the interdepartmental communication and data transfer between sales, engineering, and the shop floor.

Why CPQ is the Best Solution for Sales Automation

CPQ is an end-to-end sales solution that guides the sales reps through the entire configuration process, calculates the pricing that’s based on a number of factors, and then instantly generates the sales documents like quotes, proposals, and estimates. Unlike sales automation software that performs specific tasks, CPQ automates each and every step within the sales process, beginning with a customer's unique needs and then ending with a shipped product.

The product configurator is an integral CPQ tool, enabling the sales reps to narrow down their large catalogs of products, with countless options into perfectly optimized customer-specific selections. Different CPQ solutions take care of the configuration process differently. Salesforce CPQ asks these reps a series of questions about a customers' needs, pushing them towards the most suitable configuration. A solution like the KBMax CPQ does things a little bit differently.

KBMax has a visual product configurator that allows the reps (or end-customers themselves through self-serve) build out products by using a highly intuitive visual interface. They can point and click, or even drag and drop to change the colors, dimensions, parts, and more, with their changes appearing in real-time, in 2D, 3D, VR, or AR. It's perfectly suited to the manufacturers of the most complicated and customizable products.

Product rules built into the CPQ configurator ensure that every single configuration is optimized perfectly for engineering efficiency and the sales rep error is eliminated. Engineers can be confident that any kind of a product configuration coming to them from sales shall be technically viable–no more rough sketches and deal-threatening back and forths with the customer.

CPQ recalculates prices automatically, in real-time, as users play around with their configurations, which means customers get the features they want while staying within the boundaries of budget constraints, and sales reps can get their heads out of Excel. Dynamic pricing means that prices can be programmed to fluctuate automatically under shifting market conditions (demand, competitors' prices, order history, etc.), enhancing the margin from every single transaction.

The last step in the CPQ process is automatic quote generation. With just two clicks, sales reps can generate a quote in the PDF format that's free from human error–it's a huge win for the time-stretched reps.

In addition to quotes, some of the CPQs will generate their estimates, proposals, terms and conditions, and multiple other sales documents. KBMax CPQ takes things further with CAD and its design automation. Reps can then generate technical drawings without any engineering input, clearing the engineering bottlenecks, allowing the engineers to focus on the R&D while AI handles the mundane, easily manageable tasks.

Other Effective Tools for Sales Automation

Hubspot’s Sales Hub
Price: Starter (2 users with limited functionality) $45 to Enterprise (10 users with full functionality) $1,200/mo

Hubspot is a pretty renowned sales CRM that automates the tricky sales tasks that waste the most precious selling time. Sales reps can then quickly start their conversations with the prospects using email templates and call tracking. They can then turn their targets into customers with meeting scheduling, automatic follow-ups, and live chat, while optimizing their sales processes with multiple reports and analytics.

Pega Sales Automation
Price: Standard Edition $140 per user/mo to Engagement Edition $250 per user/mo

Pega's AI-guided selling functionality walks the reps through different sales processes, recommending the "next best actions" for engagement. It integrates with Outlook and G Suite, analyzes the messages and suggests replies while syncing emails and calendars. It features an AI "sales coach," which improves the sales performance and forecasts the future success. And it manages the leads from first capture through qualification, scoring every lead to make sure that the most profitable opportunities receive the highest amount of attention.

LinkedIn Sales Navigator
Price: Professional (for individuals) $64.99/mo, Team $103.33/mo, Enterprise (price on request)

LinkedIn Sales Navigator is an economical prospecting tool that allows the users to identify the leads and accounts in their target market through the ubiquitous professional networking platform. It provides personalized suggestions and allows the users to log, save, and add their notes on potential leads just a few clicks. Users can send InMail messages, share their  presentations, and, of course, see who has been looking at their profile!

Prospect.io
Price: Essential €89/mo (+€29/mo per additional user) or Business €149/mo (+€39/mo per additional user)

The Belgium-based company promises to take the boredom out of the prospecting process and increase their outbound sales productivity across multiple channels. Users can find the right set of prospects together along with their email addresses and provide them with a personalized stream of emails that trigger engagement. Its intuitive sales dashboard boosts productivity and then tracks the goals.

Calendly
Price: Basic (1 user) $0 to Pro ($12 per user/mo)

Calendly is one of those nice sales automation tools that only does one thing, but does it very well. One of its things is appointment scheduling– that is the bane of many sales reps' working lives. Calendly cuts down with back-and-forth emails. Users can just share a single link to a calendar that shows their availability and the other party then can pick an available slot with a click. Simple as that.

LeadFuze
Price: Starter (500 leads/mo) $132.30/mo to Scaling (2,500 leads/mo) $447.30/mo

LeadFuze is a "search engine for leads". Users find a business professional's contact information, searching by the market segment, or just zeroing in on one key decision-maker. It's the kind of tool by which many reps are actually skeptical (will contact details be up-to-date, will it lead to loads of bounce backs, etc.?) In reality, that's not the case, and LeadFuze scores consistently well in its sales automation software reviews.

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Use 3D Product Visualization Perfectly For Selling Complex Products

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Use 3D Product Visualization Perfectly For Selling Complex Products

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Spending huge amounts of other people’s money on products that you have never seen before is pretty scary. But that’s what B2B buyers have in their daily routines. On any other day, buyers could physically interact with the products before making a purchase. This would bring their stress levels down to a large extent. For various reasons though, examining products physically might not exactly be possible. And that’s not just because of COVID-19.

Companies that are selling a basic range of products can use high-levels of photography to show their buyers how their products look. But manufacturers selling complicated and customizable goods with a variety of different options could never have the time or budget to manufacture or photograph every potential configuration that will be available. General and simple drawings and product shots won’t be of much use. 3D product visualization software is the perfect answer.

With product visualization, companies can now show prospects computer-generated visual renderings that are life-like and have all of all the potential configurations in their product options. Buyers can then interact with all these visualizations on screen, check out from the different options, and even “use” them in simulations. It’s a very superior medium to the most highest-resolution product photography, connecting with the buyers on a pretty deeper and more emotional level, supercharging the sales of some of the most technically challenging goods as well.

Transform buyers that spend handsomely with 3D product visualization.

Uncertainty, ambiguity, and too much information overload contribute to the cognitive hurdles that stop potential buyers to make their purchase. Companies in the competitive markets give  out heavily detailed product data in a desperate effort to mark themselves different from the competition, but this only leads to a disastrous paralysis. Companies need a way to cope up with this noise, but the written word is absolutely inefficient as a communication delivery system.

The more visual a company is when selling, the better. 90% of all information transmitted to the human brain is visual, and it gets processed 60,000 times faster than normal text. If you want to inspire the buyers’ confidence, don’t try to explain the edge of your products; show them. By using 3D product visualization software, you have no room left for any misunderstandings or ugly surprises and then shift the burden of responsibility back onto the buyer. Greater transparency also enhances the decision-making, increasing the overall revenue while also reducing the frequency of returns and rework.

An immersive buying experience with AR and VR

COVID-19 has stopped business travel and personal sales for now. Some buyers are pretty interested to get back on the road. Others have realized how absolutely crazy it is to regularly  take flights when the meetings can be carried out at homes without harming the health, well-being, and also the environment.

VR (virtual reality) and AR (augmented reality) are replacing personal demos with the simulated alternatives that are more engaging than the regular meetings. VR places buyers inside a 3D simulated reality where they can walk in any direction, look around 360 degrees, and also interact with their surroundings. They can inspect a virtual product as if it was present in the room and even “use” it with 3D animation and interactive product visualization. Meanwhile, AR puts a 3D image onto a background that’s captured by a phone camera (or another handheld device,) showing buyers exactly how a product will look in all its glory and position, before placing their order. 3D product visualization is VR and AR’s back, and provides all the visual input needed to make them work.

VR and AR are comprehensive Industry 4.0 technologies, around for years but are finally delivering on all that hype. Fortunately, they are coming of age at the best time, when a pandemic is changing business practices in the short-term, and climate change is all set to do this over medium- and long-term. The once-comic VR apparel (headsets, gloves, etc.) are becoming lighter, thinner and far less intrusive to the entire user experience. And the impending global rollout of 5G also means that buyers will be able to experience all these technologies from any location through 5G-enabled devices.

3D product visualization with product configurator software increases conversion rates by 40%

Manufacturers of complicated, customizable products can derive a maximum ROI from 3D product visualization services by feeding 3D imagery right into product configurator software, bringing their products to life. The B2B market now wants increasing product customization, but providing this customization at scale presents a sizable challenge to the manufacturers: How can sales reps select the ideal customer-specific selection every time when there are so many of heavily complex product options, rules, and even the dependencies to consider? It’s beyond the scope of some of the most experienced product experts too, so how are new people expected to cope up with all this?

Product configurator software automates this entire configuration process, ensuring that each customer gets the product that they want on time. Instead of picking parts from a paper catalog or iPad-based equivalent, users can directly interact with 3D product visualizations there on the screen to build their most preferred ideal configurations. They can change colors and dimensions, add or remove their features, by pointing and clicking. All this in a highly intuitive visual interface. Advanced product rules that are built into the software’s backend cut down on the  errors and ensure that every configuration is perfectly optimized from an engineering standpoint.

A visual product configurator can also be used by a sales rep as an internal tool, sharply cutting through the quote turnaround times. It can also be embedded into an external website for buyers to bring in independent operations. This setup is best-suited for today’s buyer who likes to research the products independently and would sooner self-serve than interact with a sales rep. Automating the configuration process benefits the manufacturers, not just by reducing their sales team’s wage bill but also making sure that only the most perfectly optimized configurations make it past sales to engineering and onto the shop floor.

The most impactful product configurators form the part of a CPQ (configure, price, quote) solution. Besides automating the entire configuration process mentioned above, CPQ also handles the calculation of dynamic prices (prices that fluctuate according to various market conditions) and also the instant generation of sales documents like quotes, proposals, and estimates.

The best CPQ solutions leverage the data gathered from 3D product visualization to generate CAD and design output for engineering and manufacturing. Detailed drawings and parts lists, cut sheets, and even instruction documents can be produced automatically by the sales reps without engineering input, eliminating all engineering bottlenecks causing delays. CAD and design automation, only made possible by 3D product visualization, ensures a smooth transition from ordering to the build phase, cutting down sales cycles from days and weeks down to mere minutes. With visual CPQ, you can use the full power of 3D product visualization, making it accessible to every functional department, other than sales.

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6 Hallmarks of a Best-in-Class B2B eCommerce Platform

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6 Hallmarks of a Best-in-Class B2B eCommerce Platform

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The B2B eCommerce market was worth a massive $12 trillion in 2019, making it six times larger than B2C eCommerce. What's more, it was growing at a staggering pace of 10% per year.

Then COVID-19 hit.

The arrival of the coronavirus pandemic thrust digital adoption forward years in just a few months. A recent survey of B2B decision-makers by McKinsey found that, even in their ideal/post-COVID-19 model, less than 30% of B2B buyers want to interact with reps in person ever again.

Digital self-service is set to be the predominant B2B go-to-market strategy from now on. B2Bs need to learn to dominate the B2B eCommerce space to survive. And to do that, leveraging the best B2B eCommerce platform is essential.

But picking the right B2B eCommerce platform for your business is hard. With so many options available (many of them quite similar upon the first inspection), it can be a real challenge to pick the right one.

There are, however, several non-negotiable characteristics that all the best-in-class B2B eCommerce platforms share. Below, we explore what you need to look out for when narrowing down your search.

Before we get started: What is a B2B eCommerce platform?

In the simplest terms, a B2B eCommerce platform is a software application that allows B2Bs to sell their products online. B2B eCommerce platforms can be sliced and diced in many ways, but they come in three primary flavors: Traditional, SaaS, and Headless.

With a traditional B2B eCommerce platform, companies purchase a license fee, and their dev team builds a solution on top. The dev team does it all: hosting, PCI compliance, patches, updates, and integrations. And in return for the extra effort, the company gets greater control, maintaining ownership of their code and gaining the capacity to build anything they want.

SaaS (software as a service) is different and, many (myself included) would argue, better suited to today's fast-paced B2B eCommerce landscape where agility is essential for survival. With SaaS, companies effectively "rent" a ready-made eCommerce solution from a vendor, paying a monthly subscription for access.

SaaS platforms are cloud-based. So users can access them via their web browser. Websites and other online applications can be personalized to look and behave however users want, assuming they stay within the broad parameters set by the vendor. Maintenance, hosting, security, updates, and upgrades are all the vendor's responsibility.

Headless B2B eCommerce platforms are the least talked about, but provide the greatest level of flexibility for truly omnichannel businesses. The front-end (the bit customers see and interact with) and the back-end (the behind-the-scenes bit that employees use) are separated (or "decoupled"). Users can leverage multiple front-ends for different channels and switch them out, swap them around, add new ones, and remove old ones without them impacting one another.

Key characteristics of best-in-class B2B eCommerce solutions

Agility and flexibility in rapidly evolving, fiercely competitive markets

Traditional B2B eCommerce platforms, like Magento, are monolithic, i.e., built as one program. They're the supertankers of the eCommerce world - big, unwieldy, and slow to change course. Making alterations is slow, technical, and risky: one false move and the whole thing goes down, and it can be hard to locate the root cause of the problem.

SaaS B2B eCommerce platforms, like Shopify Plus and BigCommerce, are far more agile. Not only can users launch websites in just weeks (traditional platforms can take months or even years), but they can make changes on the fly, without serious downtime risk. Improvements and updates flow down the pipeline frequently, and users can add new functionality (such as visual product configuration) with an array of impressive third-party tools.

Headless B2B eCommerce platforms are the most flexible of them all. Users can launch multiple new front-ends in response to changes in the market without building-out the back-end from scratch. Having this level of flexibility doesn't come cheap, though, and implementation is tricky, so companies have to decide whether it's a characteristic they actually need, considering similar (albeit stripped down) capabilities are possible with SaaS.

Protection from security threats

Security is consistently the number one concern of B2B business leaders implementing any form of digital transformation. And it's not surprising, hackers are perpetually trying to outsmart B2B eCommerce platforms, and not a week goes by without a high-profile case of cybercrime.

Enhanced security is perhaps the main reason companies continue to invest in traditional B2B eCommerce platforms. The thinking is: if we keep all of our data and operations in-house, they'll be safe. Unfortunately, this is rarely the case. SaaS vendors provide best-in-class data security these days. They live, eat, and breathe network security because they can't afford the slightest slip-up. The stakes are too high in such a competitive and highly lucrative industry.

Scalability: a solution that grows as you do

Speed and scalability are central to any good B2B eCommerce platform, and they tend to go hand-in-hand. Overload the system with too much traffic, and it will become slower. There's no use investing heavily into a platform that can't grow with you. But, you don't want to be paying for surplus capacity when you're faced with leaner times. Or, not have enough fuel left in the tank to deal with a massive surge in traffic when running a big promotion. These are the conundra faced by users of traditional B2B eCommerce platforms. SaaS users can scale their consumption up or down and (effectively) pay for what they use by switching between package deals. SaaS vendors' near-limitless data capacity means users are protected from outages when giant spikes do eventually occur.

Competitive pricing and a sensible pricing structure

Unlike traditional B2B eCommerce platforms, where the investment is front-loaded, SaaS vendors tend to operate pay-as-you-go subscription pricing models, which you can scale up or down depending on your current usage. While some traditional B2B eCommerce platforms are open-source (hence free to download), the amount of technical work required to build a high-quality solution on a traditional platform makes the TCO (total cost of ownership) six times higher than that of SaaS platforms. The complexity inherent in headless platforms makes them a more expensive option than SaaS.

Ease-of-use for non-technical employees

Traditional, SaaS, and headless B2B eCommerce platforms were all created for use by non-technical operators. But they weren't created equal. Traditional platforms afford developers total freedom over how website back-ends operate. They can tailor-make them to suit an organization's unique, idiosyncratic needs, and working practices. The problem is: working practices change, and traditional B2B eCommerce platforms don't (not easily, anyway.) Such inflexibility leads to the creation of DIY workarounds, which have a detrimental impact on efficiency over time.

SaaS platforms are built using a one-size-fits-all approach. So the inner workings are never going to be a perfect fit for every company's needs. But they're pretty good. Most users will have minor gripes over usability, but few harbor major grievances. And if vendors receive enough complaints about the same feature, the issue is usually rectified quickly in a subsequent update.

Versatility and omnichannel capabilities

Best-in-class B2B eCommerce platforms have to blend seamlessly into today's omnichannel landscape. Buyers expect a streamlined, consistent buying experience, wherever they place their order - be it desktop or mobile device, telephone, or in a brick-and-mortar store. Headless B2B eCommerce platforms are built for omnichannel and are incredibly versatile. New channels and technologies can be launched at any time with minimal impact on underlying back end systems.

SaaS B2B eCommerce platforms are not quite so adaptable. Still, best-in-class vendors acknowledge the imperative for omnichannel and make it easy for users to map cross-channel customer journeys, provide omnichannel marketing capabilities, and manage inventories and fulfillment, wherever transactions occur. Traditional B2B eCommerce platforms, meanwhile, struggle to make use of the latest front-end technologies leaving companies that want to future-proof their businesses little choice but to replatform - an expensive and arduous process.

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KBMax CPQ Solutions

KBMax provides powerful CPQ software solutions that simplify quoting and manufacturing.

KBMax customers are winning at Industry 4.0.

KBMax powers CPQ for over 2,000,000 unique users per year, increasing margins and saving companies valuable time.

"We evaluated many different solutions and KBMax was the only one that could handle our complex requirements. We’re excited to offer this powerful visual configurator to our customers."