Increasing Quotations to Boost Revenue: Enhancing the quotation process can unlock the potential for more business growth.
TOP STRATEGIES FOR GROWTH Enhanced Quotations = Enhanced Revenue: Optimize the quotation process to expand business capacity. Insights from customer interactions and industry experts have revealed four common challenges that disrupt the quotation workflow in metal fabrication. By capturing the practical know-how from the shop floor and embedding it into a repeatable system, the quote generation becomes quicker and more precise.
Aim for Growth: Consider the initial reaction of your team upon a quotation request. Is there a rush to use spreadsheets or scribble figures on paper? Typically, there’s an experienced member in the Job Shop who is the “go-to” person for quotes. Now envision if this process were automated and standardized, enabling any team member to generate an end quote systematically. This not only gives your expert some well-deserved time off but also enables the business to manage a greater volume of quotes, thus improving the bottom line.
Return on Investment Examination: Suppose your expert can prepare two quotes per day, totaling ten weekly, with each quote averaging $10,000, and a 30% success rate. That equates to $30,000 in business. Now, if your sales team could use an automated system to produce quotes themselves, with the potential to increase output by 4-5 times according to customer feedback, you could see as many as 40 quotes weekly. With the same average and success rate, this means a potential $360,000 in business! Organizations often consider adding machinery or staff to achieve this. Yet, it’s crucial to identify bottlenecks. If machines are idle or staff is at full capacity, enhancing your estimation process to generate more quotes can help distribute work more evenly across resources.
Streamlining Manual Operations: Consider how often you initiate production or request detailed drawings before securing a contract. This approach burdens your designers and estimators with unnecessary work. Instead, focus on creating swift and precise quotes using minimal information.
Imagine utilizing the provided files—DXFs, material take-offs, or even simple sketches—to quickly assemble a quote without involving the engineering department. This not only accelerates the process but also enhances the customer experience. The philosophy is to “Engineer your victories, not your defeats.” Invest intensive resources like engineering only in projects you’ve secured, avoiding wastage in unsuccessful bids.
Simplifying the Process: Consistent and profitable quoting is vital. Some of our customers have increased sales by 70% by standardizing their quoting procedures. It’s not necessary to be a seasoned expert; a knowledgeable team member can help set up dependable calculators. Then, you upload your designs, select your settings and materials, and let the system handle the complexities.
The simple steps are:
- Upload the design files—be it PDF, DWG, STEP, or CAD formats.
- Directly preview and modify the file within the system.
- Configure your settings, including material, machinery, and other specifics. This three-step approach is the foundation for reliable and consistent quotations.
Streamlined Systems: ERP and accounting systems are beneficial, but they don’t always simplify key processes in manufacturing. Integrating software that complements your system can alleviate pain points and keep your team productive.
Consider a workflow transformation… Present Scenario: You manually input prospect data into your ERP, draft the quote in Excel, and email it as a PDF. Upon receiving feedback, you revisit Excel to make changes. After finalizing the quote and creating work orders, production commences. Post-production, the data from Excel is manually transferred to your accounting system. This process is laden with manual tasks.
For more information about Smart cut Quote Software and product inquiries, please contact us at https://nctools.com.au/ or call us on +61 3 8618 6884
Or Visit https://smartcutquote.com/
