Teledyne Marine taps into a new way of selling
“We are impressed with the value Epicor CPQ has brought to the RFQ and downstream processes. Our internal administrators are always making improvements.”
Teledyne provides configurable Nautilus electrical & ODI optical equipment for the Subsea Oil & Gas industry. Customers can customize connector and hose assemblies to get exactly what they need. This is great for the customer but was tough on Teledyne's sales teams and distributors. Epicor CPQ helped them overcome these challenges by enabling dynamic configuration of products that contain thousands of options.
The challenges
No ability to excel with Excel
Teledyne saw major competitive advantages in providing a quick quote response time and the ability to take orders with undefined requirements. The existing quoting process required manual input into Microsoft Excel and considerable engineering review which was causing major issues. There could be numerous post-order revisions that required excessive communication between sales to the customer, and sales to engineering.
Pricing was inflexible
Teledyne offers frame agreements with its major customers that allow for individual pricing on various components. This meant sales reps had to utilize error-prone Excel files or perform calculations manually. It was increasingly difficult to release updated options into the Excel configurator and enable sales teams to know when and how to offer them.
The Solution
Integrated biotech sales and engineering automation
Web-enabled configuration
Both inside sales and distributors can access Epicor CPQ over a web browser. The options selected update the image in real-time to help visualize their configured cable assembly. Validation rules trigger warnings and prompt to guide the user to preferred options. Pricing updates immediately and can be quickly calculated based on specific customer agreements.
Efficient and accurate quotes
Teledyne uses the Epicor CPQ workflow engine to route approved quotes to specific users to ensure faster quote to order time. Teledyne’s internal admins can quickly add new options to their configurator without relying on corporate IT or an external vendor. They can efficiently push out new product options and pricing to their global sales team.
The Benefits
Empowered salespeople are delivering more accurate quotes, faster
No more Excel translation
There are no longer multiple Excel files flowing through engineering for translation. Sales can sit with prospective customers and show them real-time pricing and visuals with immediate documentation.
Focused on closing deals
The sales team has seen a significant rise in hit rates due to faster response and better proposal documentation, visuals, and drawings.
Engineering certainty
Engineering does not have to “fill in the blanks” on incomplete orders anymore. They either get valid configurations to build from or can approve custom requests before an order is approved.
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