You have an extremely voluminous portfolio of outstanding quotes: hundreds, thousands even, on a continual basis. Some of them have been outstanding for quite some time and some have been altered on numerous occasions, producing countless versions.
In essence, your quoting procedure lacks clarity. You can see how long the quotes have been outstanding, but what are the quotes actually offering? It’s almost impossible to gain full insight into them. Sales regularly conducts analyses on some parts, but it doesn’t go any deeper than that. You are probably aware that reading through quotes and collecting information is more time-consuming than it should be. You actually only have random indications because you don’t have a constant overview of the quotes. And this is unfortunate, because if you did, you could send out more quotes and look ahead further. Management and planning of the buying and production are effectively only set in motion when the quotes become orders. That’s when all the cogs slip into place and the wheels start turning. But it also makes the procedures hectic, with periods of overwhelming activity followed by periods of downtime.
Sofon is designed to generate information from all your outstanding quotes, using every selection criteria. Sofon enables you to manage and monitor your quotes portfolio, make analyses and direct and prepare your buying and production at an early stage. Quotes produced in Sofon are not just nearly incomprehensible documents – they are always transparent. You can see what you are offering, categorized by customer, country, product, value, and product part, from whatever angle you choose to look at the product.
Sofon’s transparency enables your sales managers to see which quotes have a good chance of success and where they have come to a dead end. It also enables you to run periodic cleanups to prevent your sales funnel from becoming clogged so that your sales people won’t waste their time on quotes that are certain to fail.
You can work proactively too, replacing a product part that is still offered in outstanding quotes or if you are having difficulty acquiring a certain part. In cases such as this, Sales can select the prospects and customers with the quotes that list that part and suggest an alternative.
In fact, you, the management, can also focus on quotes in a wider sense. Imagine that you have adequate capacity in production. You could try to speed up your quotes to make the most of it. Your sales people could then contact the customers in question and stimulate quick decisions with discounts, and so on.
As an addition to your quote management, you can improve all the other aspects of quoting and contracting by introducing smart processes: quote creation, cost of goods sold, sales negotiation management, discount/rebate management, contract creation, contract management, authorization and approval, revision and version management and revenue recognition.