The concept of Sale Automation is a relatively new topic of discussion, lead by companies like HubSpot, who quite nicely reviews the topic in this blog.
Benefits of Streamlining the RFQ Process Through Automation
A manual RFQ process has many opportunities for automation. Often, a manual process isn’t standardized, requiring employees to create a new process for every submission. With manual processes, scalability is difficult to achieve. Utilization of quote data for purposes of business analytics and future quote decisions is equally challenging as the results of prior activity are often siloed or inaccessible in the current work flow.
Analyzing a quote requires employees to spend hours of valued time and effort to validate thousands of lines of quotes to pull together a single document.
An automated RFQ solution streamlines and standardizes the process, allowing companies to maximize their time and resources. Employees can focus their efforts on more valuable activities that help to gain new business, improve customer relationships, and achieve strategic objectives.
Automating the RFQ process can help an organization improve intake and response times, a bonus both for prospective clients, who will receive information more quickly, and for suppliers, who can generate and respond to more RFQs, and potentially gain more business.
Companies can generate a quote request based on accurate, verifiable data in minutes. Quotes can be structured to include information about availability, acceptable alternative parts, customer and volume discounts, and more.
Fast, streamlined processes mean employees can generate more quotes and maximize opportunities for gaining new business. Improvements in efficiency and a reduction in costly errors means that your most valuable resource – employee time – can be channeled to higher-level activities including gaining new business and achieving strategic objectives.
Benefits of Automated Sales Order Intake and Validation
In practice, a sales order intake resource serves as a central repository for incoming sales orders, prior to the entry of the order in the organization’s MRP system or system or record. As a process interrupt, a centralized and automated sales order intake and validation resource offers an organization tremendous benefit.
As a consolidating resource, several different channels may be unified to present a single work queue to the user. This includes inbound orders that results from web orders, EDI, API, and email, as well as other files, methods and formats.
Elimination of manual entry and errors. Component part numbers in the Electronics Industry can be more complicated than those encrypted passwords developed by computer operating systems. Alpha numeric part numbers 20 characters long are often mistyped in a manual process, the errors of which can be eliminated in an automated intake flow.
Validate component availability and cost immediately to the client-specific contract price and in consideration of all other orders and production leadtime. In this process, you can be assured only accurate and actionable data is being passed onto your system of record.
De-duplication of inbound orders may be automatically detected. Nothing disappoints management like having a big booking number revised downward because orders were duplicated.
Accelerate order confirmation to your customer. As part of the intake and validation process, automated correspondence can be generated and sent to your customer, improving customer relationships and providing a high level of valued customer service.
Lower costs of sales order review and entry. Automation provides scale to your business and increased velocity means capacity increases and costs go down.