A Leading Integrated Provider of Digital and Physical Supply Chain Solutions Implements a Quoting Solution to Reduce Turnaround Time
The solution significantly reduces the time to quote and improves annual savings.
The client is an integrated provider of digital and physical supply chain solutions to many of the world’s leading brands across a diverse range of industries, including consumer electronics, telecommunications, computing and storage, software and content, consumer packaged goods, medical devices, retail and luxury, and connected devices.
The average time to quote an opportunity was over nine months and required numerous touchpoints for the different business units. The approval chains managed offline in spreadsheets were prone to errors and had little version control competence. Moreover, the errors in the quoting process cost the company millions of dollars and in some cases, left the company unprepared to fulfill their promise of service.
The client required a quoting solution with many checks and balances and the ability for multiple stakeholders to interact in the process. Output documents went far beyond a simple quote and were used to measure revenue forecasting and delivery. Ness’s solution used Sales Cloud to manage the opportunity flow with Salesforce CPQ for quoting and CPQ+ functionality for advanced approvals tied to output document creation and version control. It allowed quote cloning and renewal management to reduce the time for quote creation and introduced revenue recognition capability in line with ASC 606 and IFRS standards. Further, the solution provided for downstream servicing of clients via assets and entitlements.
Ness’s quoting solution decreased the time to quote by 50% and reduced errors in quoting with approval chains. It enabled revenue recognition compliance and a no-code environment for ease in administration and provided better visibility into fulfillment. With service levels tied to entitlements, the solution improved annual savings by 20–30% through accuracy in quoting.