Thermo Fisher Scientific, Ic. is the world leader in improving science. They offer an unmatched combination of innovative technologies, purchasing convenience and comprehensive support.
Challenge:
Thermo Fisher’s IDD division was struggling with getting consistent pricing and proposals out to their customers. They wanted to reduce margin erosion and ensure there was consistency with regards to what was sent to the customer. They were plagued with manual approvals processes that took a significant amount of time and calculations that were cumbersome and required verification by the product team.
Solution:
By implementing CPQ, Thermo Fisher eliminated invalid product volumes and quantities, prevented incorrect pricing calculations, better understand the overall margins, enforce discount approvals that were being bypassed, and automate proposal-to-price condition conversion process.
These enhancements, in addition to others, were integrated and standardized across regions, ensuring that all Thermo Fisher sales representatives submitted accurate quotes.
The project, which went live in 10 EMEA countries in May 2019, implemented CPQ for 200 internal sales representatives within the immunodiagnostics division.
Results:
- Eliminated invalid product volumes and quantities
- Better understanding of overall margins
- Enforced discount approvals that were previously bypassed or done manually
- Automated proposal-to-price condition conversion process
- Standardized process across the region
Integrations
“With digital transformation, we were able to eliminate invalid product volumes and quantities, gain a better understanding of overall margins, enforce discount approvals that were previously bypassed or done manually, and automate the proposal-to-price condition conversion process. Overall, it has greatly improved our business operations.”
