The promise of subscription services for manufacturers has become more of a reality in the past few years. So how are leading manufacturers starting their journey to offering subscriptions to their products? From beginning to end we’ve got you covered in our step-by-step guide to servitization.
Learn more about potential roadblocks, opportunities, and examples from leading manufacturers in our eBook, Servitization: A Step-by-Step Guide for Manufacturers
According to Gartner, more than 70% of organizations are considering selling service subscriptions. Subscriptions promise higher profit margins than product sales and offer a predictable, recurring revenue stream. Organizations offering subscriptions are less impacted by economic downturns and more likely to recover quickly after taking a hit.
Subscriptions are all around us in our daily lives, and they also caused a shift in manufacturers’ business models. With core technologies such as IoT and big data analytics available and mature, manufacturers can offer tailor-made subscription-based products and services that generate new revenue and build lasting customer relationships.
The shift to subscription business models is a journey. Whether you are selling products with matching services or considering equipment-as-a-service subscriptions, the road ahead is challenging. Learn more about potential roadblocks, opportunities, and examples from leading manufacturers in our eBook, the Future of Manufacturing Subscription Models.
Tacton CPQ Subscription Pricing enables companies to configure complex capital goods without errors and to select the right services for the configured product within the CPQ environment. The advantages are obvious: all information relevant to sales and distribution (product configuration, offer documents, CAD documents, services offered) is stored and created centrally in the CPQ system.
Learn more by downloading a free product sheet!
A shift toward customer empowerment is here
A dynamic power shift has been happening for businesses across every industry over the past decade. Manufacturers used to rely on ads, word-of-mouth, and even promotions to attract customers to their products. This oftentimes was a leap of faith for customers, with little to no peer-reviews or information buyers would have to trust that a manufacturer could do as they promised.
That’s all changed, with review sites and numerous other ways to get info on your company. These changing customer demands make it imperative to change how manufacturers interact and empower their current and prospective customers. This power shift demands that manufacturers enable customers to use solutions like Configure, Price, and Quote (CPQ) to configure manufacturing products on their own time without help from sales or engineering teams.
Check out our latest eBook for your deep dive into all things CAD automation.
Drive and deliver intelligent business product insights with CPQ analytics
In this eBook discover how Configure, Price, Quote (CPQ) solutions extend past typical quote to cash features. With CPQ analytics it’s possible to enable your business to understand products, customers better than ever!
Check out this video on creating actionable insights with CPQ analytics
How can CAD Automation help manufacturers?
Sell highly configurable manufacturing products with ease and confidence
With CAD automation your sales reps are equipped with approval drawings, and visual documentation that supports the final product your customer will buy. This enables quick and accurate product drawings to be done with accuracy and confidence. Giving your newest sales rep the same knowledge as your more experienced reps will enable them to onboard faster, intrigue customers, and ultimately sell products with ease.
CAD files clarify expectations between you, your customer, and your supply chain, so that you are all better prepared for the production, installation, and commissioning of the product. Generating and providing CAD files early in the sales process eliminates misunderstandings and costly errors, thereby ensuring reliability to the customer and promoting trust.
Accelerate sales with automation
Selling manufacturing products can be a long process and finding ways to accelerate the sale can be a key driver of winning deals. With CAD automation preapprovals your sales rep won’t have to worry about costly mistakes because the product logic is accurate. Without these mistakes, it’s possible to avoid delays, returns and discounts. This autonomy or your sales team also enables your engineering team to do more.
Learn more by downloading a free product sheet!
Selling highly-configurable manufacturing products complete with CAD drawings and data has oftentimes involved a lot of resources. Sales and engineering have a back and forth that takes too long and still can have order errors, or not meet exact customer specifications.
That’s why many manufacturers are looking to automate their process by enabling even the newest sales rep to create CAD drawings with confidence and accuracy. Using CPQ and CAD automation it’s easier than ever!
Check out our latest eBook for your deep dive into all things CAD automation.
A digital revolution is well underway in manufacturing and has been accelerated by the COVID-19 Pandemic. This revolution is changing the way companies produce and sell products and services.
From internal operations to customer experience, manufacturers across industries are gearing up for change. Customization, from the customer buying experience to the factory floor, is essential for gaining a competitive advantage and long-term customer loyalty.
To help manufacturers keep up-to-date with these developments, we’ve released this report, focusing on how manufacturers are responding to smart manufacturing initiatives.
The impact of recent economic times didn’t slow digital transformation efforts -in fact, the majority of respondents said they have continued or accelerated their efforts. Supply chain optimization is the most critical digital transformation investment initiative among manufacturers during the current economic uncertainty, here’s what we found:
Learn more about the quickly changing landscape by downloading the full survey results!
Digitalization is accelerating across all manufacturing sectors as organizations scramble to adapt to the new normal. We have spoken with our top customers and industry insiders to learn where they are focusing their investments and how they are planning to advance their digital transformations.
2020 proved traditional methods of selling customizable equipment were inadequate and outdated. Manufacturers today are redesigning their sales process by removing the complexity from their buying experience.
What you’ll learn
While we continue to learn how to work in the new normal one thing is certain for manufacturers. Change is a constant and leveraging the right technology is crucial to improving operational efficiency and improving the customer experience.
The solution that many manufacturers are missing their product portfolio is Visual Configuration. It is a necessity for manufacturers looking to grow their business and enable customers to do more. Offering visual product configuration will help you stay ahead of the competition by becoming a market leader with a one-of-a-kind customer experience.
In this guide we’ll discuss the basics of Visual Configuration, challenges, opportunities, and more:
