Reduce Quoting Errors with Configure One Cloud and Discover your ROI with Purpose-built CPQ

The need to upgrade and centralize their quoting and configuration process into one platform to reduce quoting errors is rising across all industries. Many manufacturers previously relied on manual quoting through spreadsheets and contracting out drafting services with long turnaround times, but needed a faster, more accurate way to send and close quotes.

Between the time-consuming, labor-intensive, and siloed nature of the manual quoting process, what used to take weeks now takes minutes with a purpose-built CPQ for manufacturers, like Configure One Cloud. The Return on Investment (ROI) of a CPQ platform can be a game changer for your bottom line but realizing that value and calculating the expected ROI on your own can be challenging.

Between the time-consuming, labor-intensive, and siloed nature of the manual quoting process, what used to take weeks now takes minutes with CPQ. The return on investment (ROI) of a CPQ platform can be eye-opening. That being said, calculating ROI on your own can be a hassle. Knowing which inputs to use and what metrics to consider takes up precious time and effort that could be better spent on high-value tasks.

The new CPQ ROI calculator, powered by Configure One Cloud, showcases its quick quoting prowess by taking the metrics that matter and calculating outputs like potential savings estimates in both labor and resources, as well as revenue growth potential from upsell opportunities and increased order sizes. Using this tool, your team can input values for insights into key ROI metrics.

How to Use the CPQ ROI Calculator

Determine the value of your potential CPQ purchase by initially gathering the metrics that matter. Once you have the values you need, simply enter this data into the calculator to see how reducing quoting errors and eliminating manual effort can accelerate your quote-to-value timeline.

Key Value Metrics

Start your calculation process by collecting data on a few key inputs. This data will help the calculator best understand your current process and results to determine the impact Configure One Cloud’s CPQ solution will have on your workflow. These inputs include:

Annual quotes: The total number of quotes your business produces per year.
Quote creation time: How long (in hours) your team currently takes to produce an accurate quote for potential customers.
Average quote value: The average total dollar value of your quotes during the specified period of time.
Conversion rate: The percentage of your quotes that convert into sales.

Once you enter these data points into the calculator, it will offer insight into how implementing a purpose-built CPQ solution can improve these metrics.

Calculator Metrics

The CPQ ROI calculator will demonstrate the value of CPQ sales tools in quantifiable terms. With these metrics, you can better convince key decision-makers of your choice to invest in CPQ and set baseline expectations for your implementation.

Using the calculator, you’ll discover more about performance metrics such as:

New orders per year: Highlights how CPQ will boost your quote volume, generating a higher annual return.
Increased order size: Shows how CPQ software can potentially increase the average size of your manufacturing orders.
Annual return: Offers a preview of a potential annual return on investment from adding CPQ using your inputs and projected quote volume.
Improved revenue: Provides customer examples of how CPQ can drastically increase month-over-month revenue growth
E-commerce capabilities: Features examples of potential e-commerce growth through CPQ and the benefits it has for sales cycle length.
Time saved: Spotlights the significant improvements in quoting and manufacturing efficiency achieved through CPQ.
Reduction in errors: Underlines the key role CPQ plays in customers improved operational accuracy.

These metrics can provide a glimpse at potential ROI, but keep in mind the calculator’s insights are estimates. Using this tool can help you measure the value CPQ can potentially bring to your organization. The Configure One Cloud can do a formal evaluation and dig into your data further.

The Value of Configure One Cloud

Adding a user-friendly, manufacturing-specific CPQ solution to your team’s toolbelt will not only improve your business outcomes and reduce quoting errors but also enhance your team’s efficiency and add value to your customer experience. Configure One Cloud is an industry leader in CPQ, offering key benefits to manufacturers looking to modernize their quoting process.

Increase Revenue

Every business wants to improve their revenue stream. But finding opportunities for efficiency and growth can be difficult without the right tools. Configure One Cloud offers a variety of revenue-boosting capabilities that will drive operational effectiveness and enhance your bottom line.

Generating more quotes within existing channels: Using cloud-based, automated selling solutions like guided selling and configuring, pricing automation, compatibility enforcement, discount approval and special request workflows, Configure One Cloud allows your team to expand their quoting capabilities.
Extend sales channels: Whether it be a dealer/rep portal or a website configurator for lead-generation and e-commerce, Configure One Cloud allows your team to expand their sales capabilities into new areas that allow for more quotes and revenue.
Increase win rate with accelerated, accurate quotes: With Configure One Cloud, customers can quickly and easily build visual, custom quotes that are automatically checked for feasibility and compliance. This process allows your customers to get their quotes completed faster and more efficiently than ever before — increasing your team's sales win rate and likelihood of future business.
Identify upsells to increase order size: Configure One Cloud utilizes guided selling features to identify upselling opportunities and encourage customers to purchase more profitable options or recommend spare parts or add-ons.

Reduce Quoting Errors and Costs

Adding funds to your bottom line is one thing, but if you’re spending more to achieve these gains, you’re not facilitating effective business growth. Configure One Cloud works two-fold to boost revenue while simultaneously cutting back on unnecessary costs that have been hindering scalability.

Cut back on sales quoting time: With the quoting automation tools available through the Configure One Cloud platform, quotes can be made faster and with fewer resources. Team members can collaborate in real time, reducing roadblocks and unnecessary repetitive work.
Free up subject matter experts: Configure One Cloud allows your subject matter experts to spend more time on high-value tasks by reducing the impact of quoting on their everyday schedule through features like rules-based option compatibility enforcement, automated sales approval drawings, automated bills of materials (BOMs), engineering equations for sizing and selection, and more.
Minimize sales training time: Accelerate new salespeople's time to value by empowering them with solutions like guided selling and configuring, contextual help, option compatibility enforcement, dynamic visualization, and discount approval and special request workflows that cut back on necessary training time.
Reduce quoting errors: Configure One Cloud reduces errors by providing an automated quoting and configuring solution to your team. Through its cloud-based platform, Configure One Cloud offers easy access — acting as a single source of truth. This solution also uses features such as user group permissions and security, rules and logic, option compatibility enforcement, and more to maintain accuracy throughout the quoting process.

Discover Your ROI Today

Configure One Cloud is an all-in-one CPQ solution that can elevate your quoting process. But what it means for you bottom line will all depend on your unique circumstances. To discover your potential return on investment, try our CPQ ROI calculator and get your personalized ROI calculation today.

Configure One Cloud sets manufacturers up for success by enabling customers to configure their specialty products on a user-friendly platform and can customize to their product needs. Customers can make selections to their unique specifications and needs, view a 2D and 3D visualization of their configuration, make changes, and review Bills of Materials (BOMs) all on one platform.