NTN USA Corporation is a holding company, through its subsidiaries manufactures and supplies bearing units, power transmission equipment ball, roller, mounted bearings, and constant velocity joints for the automotive, aircraft, forklift, and manufacturing industries. As the world’s third largest bearing manufacturer, NTN has over 68 plants worldwide.
NTN’s customers were looking for fast and accurate quotes. Due to inefficiencies in systems and processes, NTN was experiencing long quote cycle times and error prone quotes that resulted in lost profit for the organization. Quote documents provided to clients were not consistent. In addition, managing the price agreements process was cumbersome and lack of proper governance structures resulted in lost revenue for NTN.
The initial implementation focused on implementing quoting and customer price agreement process in CPQ Cloud. CPQ Cloud became the central point for managing quote and price agreement approvals.
Multimodal search enabled the sales team to search for products using industry, competitor, or NTN product information by eliminating the research and investigation associated with finding correct products, which simultaneously reduced the number of engineering support tickets pertaining to product look ups.
Centralized structure enabled NTN to implement pricing governance protocols within the tool to monitor deal health, as well as controls to protect margins.
Customized support request workflows built within enabled the sales team to obtain pre-quoting information such as pricing and inventory without going through the whole approval life cycle, thus reducing time-to-quote. These embedded workflows allow back office support such as marketing, engineering and operations to manage support requests within CPQ and provide pricing and inventory details to sales, centralizing the back-office operations.
NTN’s marketing team was provided with additional capabilities for pricing analysis to derive competitive pricing.
- Improved quote cycle time
- Faster turnaround on customer price agreements
- Improved protocols and rules for price governance
- Consistent, professional, standardized quote documents
“Implementing CPQ has greatly improved our quote cycle time and allowed for faster turnaround on customer price agreements. ”