Five Important Trends in Quotation Processes

Five Important Trends in Quotation Processes

The right CPQ implementation contributes to a streamlined and optimized sales process. That’s more important than ever: different trends mean that high demands are made on quotation processes. We have listed five important trends for you. 

1. The need for flexibility is growing

Potential customers are increasingly aware and have a clearer picture of what they want. This requires a flexible attitude from organizations and ensures that the organization moves towards a service perspective. Customers expect organizations to act as discussion partners and to be on the same level in that dialog.

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2. Technology is developing fast

The speed at which technology is developing has increased significantly in recent times. In a market with predominantly rigid products, this requires an adapted approach, enabling you to also deploy other propositions. Moreover, you can adjust the propositions as soon as the market demands it.

3. New competitors enter the market

Technological developments have accelerated in recent years. That makes it easier for new players to enter the market. In addition, the legislation for many markets has also changed. New players may be able to offer products and services that are not yet offered by your own organization. Moreover, as an existing organization you may have a restrictive competitive position with regard to new players. They can enter the market with a greenfield approach and are not hindered by any legacy environment.

4. Quotation processes are becoming more complex

The customer is looking for new product combinations and a wider range of services from which to choose. Users want options. In more and more situations, customers are asking for an environment where they can put together a quotation themselves, based on options and configurations they have checked themselves. This has a major impact on the complexity of quotation processes.

Take a look at the charts below, showing two examples of configuring the price of a product in the Communications and Energy industries:

Screen Shot 2022 06 22 at 11.55.59 AMExample: Configuring price of products in the Communications and Energy industries.

5. Global developments offer opportunities

An organization must be able to respond to global developments fast. The energy market is a good example of this. This includes developments in the field of gas supply, grid capacity and the use of solar panels. These trends also require an organization that can respond to the market with new product combinations, among other things.

Ideal preparation

Looking for a suitable partner for a CPQ implementation and looking for inspiration? Also take a look at other organizations and pay attention to teams with the same characteristics as in your own organization. This gives you an accurate picture of the different phases of a CPQ implementation.

Want to know more about the benefits of a CPQ solution in practice? Read more CPQ background information here or contact us directly for a consultation. 

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