Three CPQ Trends

CPQ trends are playing a crucial role in shaping the future of the manufacturing industry. From the shift towards buying equipment as a service, to the evolving value chain and the need for disruption-proof operations, manufacturers must stay on top of the latest trends and technologies in order to remain competitive.

The shift towards buying equipment as a service is a trend that is changing the way manufacturers sell and market their products. Instead of purchasing equipment outright, more and more customers are opting for the flexibility and predictability of paying for equipment on a recurring basis. This shift is having a significant impact on the manufacturing industry, as manufacturers need to adapt to this new business model and come up with new ways of generating revenue.

For manufacturers, this trend requires them to think differently about their product offerings and customer engagement. Instead of focusing on selling a product, manufacturers need to focus on providing a service. They need to establish long-term relationships with their customers and offer support, maintenance, and upgrades to ensure their equipment stays up-to-date.

Additionally, this trend also changes the way the manufacturers are engaging with their customer by providing the customer experience to the whole buying process and focusing on the customers' pain points and addressing them with the right service, this is where the CPQ trend can help by providing the right tools to the manufacturers to be able to interact with the customers, provide them with the information they need, and make the buying experience as smooth and efficient as possible.

The Evolving Value Chain

The evolving value chain is a trend that is having a significant impact on the manufacturing industry. With the trend of reshoring and connecting manufacturers directly to consumers, traditional supply chain models are being disrupted. This is forcing manufacturers to rethink their sourcing strategies, logistics, and production processes to adapt to the new landscape. Reshoring also offers manufacturers new opportunities to increase their control over their supply chain, improve quality, and enhance the customer experience.

This trend is requiring manufacturers to re-evaluate their partnerships and develop new relationships with suppliers that are closer to home. Additionally, this shift is leading manufacturers to build stronger relationships with their customers, providing direct access to end-users and opportunities to understand their needs and preferences. This is where CPQ trends can play an important role as they offer manufacturers the capability to interact with their customers and understand the requirements of the customers and provide them with the right products.

Also, this shifting value chain is pushing the manufacturers to be more efficient and agile, and being able to adapt to changes more quickly which can be achieved by implementing a digitalized and automated CPQ solution.

The Need for Disruption-Proof Operations

The need for disruption-proof operations is becoming increasingly important for manufacturers as the world becomes more unpredictable. The COVID-19 pandemic has had a significant impact on the manufacturing industry, with many companies facing supply chain disruptions and difficulty in finding the right workforce to bring their products to market. To overcome these challenges and minimize the impact of future disruptions, manufacturers are looking for ways to make their operations more resilient.

CPQ trends can play a significant role in helping manufacturers achieve this goal. By automating and digitizing their processes, manufacturers can improve the efficiency of their operations and reduce the risk of errors. Additionally, by having access to real-time data, manufacturers can make more informed decisions about their supply chain, production, and workforce. Also, CPQ trends also help in the customer service side by providing the salespeople with a tool to help them to have an instant and accurate information to the customer which increase customer satisfaction and loyalty.

Implementing a CPQ solution can help manufacturers to have more smooth operations and respond quickly to changes in the market, ultimately helping them to become more disruption-proof.

Conclusion