In the “Our Experts Answer” series, our experts chime in on both the common and tough questions people want answers to regarding Selectors, CPQ tools and the lead-to-order process.
Today, we’re going to be talking about the quoting aspect of the lead-to-order lifecycle for mechanical equipment manufacturers (MEMs). And here’s the most common problem we see when it comes to quoting (other than it takes too long, but we’ll get to that): many businesses hate the way their quote package looks. They find themselves in 2021 with a quote package that looks like it was created with a 90’s word processor—it just doesn’t look professional.
And, as we’ve written about before, this is a common problem with legacy quoting tools or homegrown solutions the business built themselves a while back. So how do you update your quoting package and find a quoting solution that’s right for you, your team, and your business?
What to Look for in a Quoting Solution
It Assembles Professional Quote Packages
The right quoting solution should be able to assemble a quote package tailored to the fluid handling and MEM industries. It should be able to produce technical, professional documents—not just billable materials—that fluid handling and MEM companies need with industry-specific, configured drawings, datasheets, rate sheets, renderings, efficiency performance readings, diagrams, and more.
This creates a rich package of submittal materials out of the box that you can tell a pump expert put together. After all, the right quoting tool will generate and deliver a professional, accurate quote complete with terms and conditions—an output that ensures a successful engagement.
It Works for Multiple Users
The tool should effectively manage quoting with its user and role-based permissions and privileges, allowing for a collaborative quoting process for all.
At FPX, our Project and Quote Management Portal allows users with permissions to access quotes, make updates that are reflected in real-time, more effectively manage pricing and approvals, and ultimately get to a finished and polished quote—all using one solution. This improves speed, efficiency, and accuracy for everyone involved.
It Looks Good
Customers—yes, that means your customers—want a proposal that looks good: professional, clean, and clear. When you hand it to the customer, they should have what they need and it should be branded properly for an overall professional look and feel. This will ultimately help you be the company the customer chooses, because in a world where the first quote wins the deal, it's added insurance to have the first and the best looking quote.
Last but not least, your quoting solution must account for revisions, store and manage quotes, and convert to an order. This is the only way to ensure a fast, seamless experience, making your quote the first one to reach the customer, all while being professional, accurate, and speaking to the prospect’s industry and concerns. With FPX, we help ensure you’re not just the first with a quote, but you’re the first and the best.
For professional quotation and proposal generation, quote storage and retrieval, quotation revisions and disposition, included terms and conditions, convert-to-order and more, look no further than the FPX Selling Cloud, software that solves for Selection, Configuration, Pricing, Quoting, BI, and more.
We hope you enjoyed the “Our Experts Answer” series. Feel free to reach out to us if you have any further questions or want to explore our process further.