THE CHALLENGE OF ERODING MARGINS

Research shows that sales reps spend about 66% of their time on non-customer facing activities. Quoting is often done with excel files and emails. Proposals are like snowflakes and it takes way too long to put them together. Slow to respond is one of main reasons companies lose deals. Margins are also impacted by an inefficient quoting process. Companies who solve this problem see 2-4% improvement in margins. The ‘leaky pipe’ image below was used by one of our earliest clients to sell a CPQ project to their executive team.  Margin leakage is an ongoing challenge in any sales environment. Companies are constantly dealing with:

According to a study by the Aberdeen Group’s Research on Configure Price and Quote, CPQ can reduce quoting time by up to 33%, reduce the sales cycle by up to 33%,  and reduce the number of quote modifications or versions by 13%.

Pierce Washington ensures our client’s have a healthy foundation (see Advisory Services for more information) and implements Configure, Price, Quote to achieve tangible business outcomes:

  • 65% reduction in labor to support quote process
  • 1-5% reduction in operating costs
  • $1 Million increase in quarterly net margin ($1B Company)
  • 92% faster initiation of new quote
  • 92% faster proposal generation
  • 84% faster to enter a 100 line order through the quote to order integration

 

%

higher lead conversion rate

%

larger deal size

%

of time to saved to produce a quote

“Pierce Washington brought a lot of experience in the CPQ space to help navigate through the requirements and design phase. They brought in a lot of organization. They broke it up into a logical order where things were built on each other, which made us confident we were moving towards a completed project.”

 

Director of Operations
Software Company

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