The power package for more efficiency and turnover in technical product sales
Creating quotations for configurable products is usually as time-consuming and costly as it is error-prone. This is because the sales team is often not aware of all the options and pitfalls when putting together the products, meaning that additional expertise from other departments such as product management or even product development has to be requested. The associated waiting time for prospective customers and the lack of flexibility in preparing quotations are also clear competitive disadvantages. Find out how PIM and CPQ can maximise your sales department’s performance when preparing quotations.
What is CPQ?
CPQ stands for Configure-Price-Quote. CPQ solutions can create configurations from product data and a set of rules and immediately generate the resulting parts lists, services, prices and therefore also quotations.
Advantages of CPQ software
Whether variant configuration, system configuration or guided selling: a CPQ solution is a must for the sale of technical and complex products and solutions, as it increases efficiency in sales as well as the speed of quotation preparation and the quality of quotations. Valuable sales employees can invest more of their time in communication, relationship management and new customer acquisition. As a result, customer and employee satisfaction increases along with efficiency – and, above all, sales increase. Find out more about the benefits of CPQ software in our blog post.
Where does the data for the configuration and the offer come from?
Configuration rules can very often already be mapped using standard product characteristics. This means that there is usually no need for explicit product-related rules such as “product C is required as an accessory to combine product A and product B”; instead, the rules are based on attribute values, such as “if a product has the attribute ‘splash-proof’, it is suitable for products with a current output between 5 and 50 mA”. This approach is of course much more efficient, as all relevant products are included when a rule is created.
In order for the configuration process to run smoothly and with appropriate usability and to achieve a high-quality result (offer), you need a clean and comprehensive database on the one hand and high-quality texts, images and documents that enhance the offer accordingly on the other.
Ideally, the required database should already be available when you start working with CPQ. Although the required data can also be stored directly in the CPQ system, the use of a PIM system as a data source brings a number of significant advantages.
What is a PIM system?
A PIM system (Product Information Management) is a software solution that is used for the centralised management and maintenance of product information. It collects, organises and distributes all relevant product data, such as technical specifications, logistical information, marketing texts, images and more.
PIM and CPQ – efficient data handling
As a rule, a CPQ solution is based on a PIM system. Only in rare cases is this database already available in the ERP. CPQ solutions almost always require specific technical information that is not stored in the ERP. In addition, a high-quality quotation also requires texts, images, drawings and data sheets that are certainly not available in the ERP.
A PIM system with an integrated or supplementary DAM (digital asset management) system is the right solution for this product-related data and media. This is where this data and content is stored, maintained and automatically accessed by other systems. A PIM and DAM system therefore provides data and content not only for the CPQ system, but also for the website, price lists, digital and print catalogues, etc.
This ensures that all areas have access to the same and correct data at all times. This means that the correct product descriptions, images, prices and similar are always stored. In addition, the data is only maintained in one place for all areas – so there is no duplicate data maintenance. This not only saves time, but also prevents errors.
PIM and CPQ – the power package for your sales organisation
PIM and CPQ are therefore a real power package for your sales organisation – after all, you benefit from the advantages of both systems as they work together perfectly.
3 top arguments in favour of integrating PIM and CPQ:
- No duplicate data maintenance
- Consistent data across all areas
- Increased efficiency through fast and error-free quotations – without your sales department having to rely on other departments
Do you have questions about PIM in combination with CPQ? Get in touch with encoway and arrange a non-binding demo appointment.
Geschäftsführer Infolox GmbH
LinkedIn
Alexander Pircher is an automation engineer and holds a degree in operational process and project management. As a graduate of FH Vorarlberg, he entered the market for PIM/MAM, print publishing and editorial systems for technical documentation in 2001. His first consulting mandates included customers such as Buderus (Bosch Thermotechnology) and SICK AG. In 2003, he founded infolox GmbH to support industrial companies and the technical trade in the implementation of digital projects with PIM, DAM, CMS/SHOP and CPQ in the area of B2B omnichannel marketing and B2B e-commerce.
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