Top performing manufacturers grow revenue and increase profit margins at least twice as much as average performing companies by providing a better bid response.
Engineering Business Priorities | Winning Better Bids
As the industry faces disruptions in customer demand, means of production and increased product intelligence, that’s where our customers’ ability to win profitable bids quickly, while keeping operations running smoothly, is more important than ever.
Every company wishes their bidding process was simple and successful for each customer’s request for quote. But it’s not easy.
The more complex, configurable and customizable the products or systems of products are, the more cross-functional interactions are needed between departments to create an accurate quote. And when the bidding process becomes messy, the win rate usually drops.
In essence, the four pain points manufacturers struggle with in their bid processes are:
Lack of speed
Lack of accuracy
Lack of precision
Waste in resources
Creating a focus on winning better bids is proven to deliver increased revenue growth and profit margins. Improvements to the bidding process can create greater efficiency, and that means faster and more accurate bids.
Tech-Clarity has found:
More accurate bids deliver significant margin improvement
Faster bids deliver a competitive advantage
How do you become a top performer when it comes to delivering better bids? It comes down to: