White Paper: Challenges of In-House Developed Configurators

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last updated：Dec 26, 2023

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What are the five reasons why your in-house developed configurator is a hindrance to your business?

As customer demand increases and product lineups expand, it is crucial for companies to lead their sales teams to success. Relying on in-house developed configurators is becoming increasingly difficult. Challenges of In-House Developed Configurators: - Lack of scalability - Resource and effort intensive - Prone to errors and failures This guide will cover the following: Five ways in which in-house developed configurators are a hindrance How CPQ (Configure, Price, Quote) software can benefit your sales activities Table of Contents: 1) Incorrect pricing hinders revenue maximization 2) Sales channels are stagnant, missing out on new opportunities 3) Customer experience does not meet today's e-commerce needs 4) Burdened by the review and approval of deals 5) Quoting products and services takes too long, leading to negative customer experiences

Related Link - https://www.cincom.co.jp/cpq/5-ways-your-homegrown…

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basic information

Here is a portion of the information. (For details, you can download from the URL) https://www.cincom.co.jp/cpq/5-ways-your-homegrown-configurator-is-costing-you-deals 1) Incorrect pricing hinders revenue maximization Inaccurate pricing becomes a barrier for organizations, leading to missed opportunities and reduced income. When using a homegrown configurator, the sales team is likely to make mistakes and set inconsistent pricing due to the complex product information being scattered across many tools. CPQ software can provide the most accurate pricing to customers by delivering up-to-date information across all channels, ultimately maximizing revenue. 98% of consumers feel that they have refrained from making a purchase due to incomplete or incorrect estimates. According to research, surprisingly, 70% of companies report that excessive discounts due to lack of checks are a common issue.

Applications/Examples of results

Here is a part of the data we would like to introduce (details can be downloaded from the URL). 2) Sales channels are stagnant, and new opportunities cannot be leveraged. It is necessary to maintain consistent product information across all sales channels, including direct sales, agents, retailers, and e-commerce. Using disparate tools for each in-house developed business leads to scattered knowledge and siloing, making it impossible to provide accurate quotes across all channels, which becomes a significant headache. Sellers who create accurate and complete quotes first have at least a 60% higher chance of winning the deal. Furthermore, without a rational and efficient way to update product information in one place, it becomes a hindrance to business expansion, preventing the exploration of new channels and the leveraging of business opportunities. With CPQ, all tools and resources can be centrally managed, allowing the sales team to access the right information at the most critical times.