One of the World’s leading medical technology company is driven to make healthcare better by offering innovative products and services in Orthopedics, Medical and Surgical, and Neurotechnology and Spine that help improve patient and hospital outcomes. Hospitals, in particular, are always in need of an efficient and constant supply of equipment, where a category includes disposable supplies. In real-time, connecting with clients with the right sales pitch is everything needed to complete the transaction.
The Challenge
The right pitch
Quote management requires the involvement of the right team's sales & product manager in the process. The products and services offered with reference to the customer expectations and market dynamics must be completely aligned to develop clarity. The entire lifecycle of a quote is built on a series of uncertain events such as creation, approval, presentation, and rejection. The quote is simply pushed around by the sales representative; what it needs is a set of procedures that can direct the outreach process and other pertaining issues around the feasibility of quoting process.
Tedious work
The absence of quote generation tools and maintaining a manual excel sheet for cost computation, documentation & tracking makes the work tedious. The manual quoting process creates a scope for error and misplacement of processing credible information. The ability to create and track quotes lead with human decisions while being efficient poses a potential risk to marginal operations. Throughout the documentation, tracking with all the information at hand becomes a complicated assessment; one ends up spending hours just to compute and fill appropriate data.
Globally applicable framework
Unique business processes for different regions having different processes, there are a series of challenges when accounting subsequent practices from each perspective. Process improvements that are specifically curated to regional requirements need to be embedded throughout the organization. The processes must be given a long-term strategic vision to respond to business challenges in different markets, optimizing time-to-market as a key business driver.
Unified vision
Align to the global vision for a single quoting platform across different geographies. Quoting is a competitive iterative space as to what the proposal team puts forward must be commercially attractive and the best in the market. Therefore, there is a constant need for resourcing prices, expenses, and discounts across all active markets to keep control over the whole process.
The Solution
An integrated platform that can save time and effort by automating the sales process with optimization tools to quickly and efficiently generate quotes. Sales teams often fall behind in making the right quote with an offer too large of a discount costing the company more than it should. Oracle CPQ cloud as a solution helps build a configured and straightforward process to create an accurate and customized template in no time. It automatically reduces quote generation and approval time, improving sales and engagement through guided deals.
Now configure your products with customized solutions catering to each and every specific customer, simplifying the entire quoting process. The software and data analyzer offered by the Oracle CPQ cloud platform configures complex quoting processes by telling what exactly the customer needs, opening up more time for teams to focus on other quantifiable parameters.
Guided selling
To capture a single repository of user stories covering across geographies in East Asia to create a centralized methodology. Oracle CPQ cloud maps business requirements towards a global template for faster user adoption and business standardization. With a detailed end-to-end process from sales opportunity to quotation, based on the product availability and previously placed purchase orders. A flexible business process is organizing order fulfillment based on inventory, delivery, and service availability. Creating a service ecosystem based on user data to deliver services anywhere at the procurement quotes across the region.
Increase Engagement
Detailed acceptance parameters set for each user story with key success criteria help identify reusability for overall efforts towards global deployment. Rationalizing uniform DOA-based approvals across different geographies and products lines helps in replicating the process to increase engagement with customers. The acceptance criteria should be unique and defined to avoid clashes at further levels. Thus the entities are introduced at each level to initiate automatic approvals.
The Impact
Oracle CPQ cloud helps automate the entire price quote process by introducing factors that provide real-time insights and carry out mapping, product pricing based on business rules, and market exposure. It allows manufacturers to reach out to more potential clients and convert them with ease by delivering an exceptional customer experience with customized pricing configurations. Oracle CPQ cloud is extremely essential to fill the gaps in the medical equipment sourcing industry, as automation technology is adding to the pace with optimization and strategic placement of intelligent systems.
Automation driven by analytics, active market performance, machine learning, accurate pricing of products and services has helped configure a detailed purchase order. A Oracle CPQ cloud solution can pitch a price quote with proper discounts, relevant terms, and conditions for the specific customer. It is more than just a tool, but a fully integrated enabler boosting manufacturers’ sales and lowering operational costs.
Intuitive Documentation
Documenting end-to-end business process flow for the East Asia region for a quote to get more visibility. The built-in intelligence delivers the appropriate product mix based on constantly changing market sentiments. Get complete servicing capabilities with configurable ordering and annuities, improving direct sales and market credibility. This gives the benefit to auto-populate the resource request based on process, enabling to make the best estimating decisions which may vary for each demographic.
Process standardization
Aligning business requirements towards a global template is essential for any organization. It helps structure sales activity with defined business objectives towards market analysis, margins, profitability, and deal breakdown. Built on the Oracle CPQ cloud platform with additional intelligent interfaces, as a result, the process is automated, error-free, and completely aligned with customer mindset and bill rates. The Oracle CPQ cloud system will initiate a project with all the pre-defined constraints, increasing the speed, efficiency, and accuracy of teams globally.
Intelligent Automation
Implementing documentation for automated approval workflows involving different stakeholders. Once conditional estimates have been prepared, it is important that each aspect of the quote gets complete visibility and traceability to ensure tolerances are maintained at each step. Financial limits and availability of resources pushed by simple approvals to ensure they are processed without delay so that quotes can be processed seamlessly and passed on to the right sales associate. Automated approval reduces the waiting period by automatically granting permission after the validation of rules on a combination of factors. The workflow states the approvers responsible for resolving a certain violation depending on the configuration of the plan before it can be presented to a customer.
