Enterprise Solutions Are Within Reach for Midmarket Manufacturers
Most midmarket manufacturers have a desire to expand their web applications and tools to the enterprise level but believe it’s out of reach because of the investment and resources required. What most mid-market companies don’t realize is that enterprise solutions are in fact within reach. The key is attaining clarity on the problems you wish to solve and exploring how to leverage technology and existing systems to make your customer’s lives easier.
When your customers can build a custom quote or order a part that’s on backorder, you’re providing a better experience that will contribute directly to your bottom line. Here are three solutions that can extend the capabilities of your web applications that are far less costly than you might think because they leverage existing technology.
The Self-Service Portal
If you can’t support your customer’s needs immediately, they will find someone else who can. Customers expect 24/7 support and availability. Manufacturers are no exception. In the past, the cost of a self-service portal was relatively high. The rise of SaaS and the pace that technology is evolving makes this attainable for the midmarket manufacturer.
A self-service portal can facilitate better communication with customers, ensuring they know the latest news, product announcements and product recalls. With important information readily available, you are actively building customer satisfaction and loyalty. Other features like customer specific pricing gives customers the freedom to view pricing at any time, while optimized ordering allows customers to upload a spreadsheet with multiple SKUs to save time.
An Integrated Quoting Configurator
To provide customers with a seamless and compelling sales experience, you need to give them the tools necessary to obtain an easy, fast and accurate quote. An integrated quote configurator has the power to increase your accounts receivable while reducing your quote-to-cash cycle time. The sales team can be more effective and efficient in selling more in less time. You can also equip your sales team with more data that allows them to be more effective during the sales cycle.
Some of best features within an integrated quote configurator include:
- A guided quote-building process
- Ability for dealers to build quotes and submit
- Quickly convert a quote into an order
Backorders: Take the order!
Your customers want instant gratification, even if that means ordering a part knowing that it will be shipped at a future date. Don’t lose a sale just because you can’t accommodate backorders.
But what if your back office doesn’t support this functionality?
Even if your back office isn’t evolving as quickly as you’d like, existing technology makes this possible. Capture the order now and further cement the customer relationship for the future. This is possible thanks to existing technology that acts as a bridge across information islands.
Enterprise level applications and tools don’t have to cost a fortune to implement. If you’re goal is to create long-term value for customers, it’s worth exploring existing technologies to help your midmarket company compete at the enterprise level. If you’re interested in exploring this further, please share a few details and we will be in touch.
As a manufacturer, you’re faced with responding to the evolution of your end customer. Technology continues to change the playing field. Before the Internet, manufacturers relied on sales reps, dealers, and distributors to build awareness and get their products into the hands of their customers.
Industrial systems are often large capital investments that last years. Upselling or reselling to the same customer year after year isn’t an option. With near-term sales goals on the horizon, your focus is likely on generating new leads and sales.
Companies are intent on finding their elusive purple unicorn, that unique individual with the drive and experience to meet and exceed outcomes. At Envalo, we are determined to find our own passionate, tech guru purple unicorn!