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How Can Industrial Manufacturers Speed Up Quoting and Estimating?

How Can Industrial Manufacturers Speed Up Quoting and Estimating?

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How Can Industrial Manufacturers Speed Up Quoting and Estimating?

Feb 18, 2021

Aptean Staff Writer
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The answer is simple: using an industry-specific enterprise resource planning (ERP) solution.

An ERP that’s built specifically for discrete manufacturers simplifies the quoting and estimating process. It puts critical data at fingertip distance, so your colleagues can use one piece of software to look up a price, monitor inventory components and review previous orders to see how they were built.

More importantly, all of this data can be combined instantly to generate quotes, removing time consuming manual calculations. Plus, technology is less prone to error—increasing accuracy. You no longer need to dedicate hours of manual labor to making those calculations, and, in the process, you eliminate the need for labor-intensive quoting in Excel spreadsheets.

Industrial manufacturing ERP software can be even more transformative, linking to BOMs, routings, configurations and price summaries, for truly reliable estimates. The system allows you to look up order history, so you can requote based on the materials used for similar projects—building in pricing rules for add-ons and configurations.  This is useful to quote accurately, and to make sure you’re competitive in the market.

Your ability to adjust quotes and estimates quickly and efficiently further enables you to:

  • Respond rapidly to customer pricing inquiries.

  • Create reliable estimates by linking to BOMs, routings and vendor requests for quotations (RFQs).

  • Identify promising prospects with full reporting capabilities.

  • Secure targeted gross profit margins.

  • Assign unique pricing schedules associated with given parts, customers or groups of customers.

You can also use an industrial manufacturing ERP to build your business pipeline, zeroing-in on hot prospects and in-demand products without having to collate huge volumes of data by hand. It’s a simple way to identify and report on potential new customers.

It would be hard to run reliable reports to identify these new opportunities without a software solution centralizing all of that data. When your data is in a database, the entire workflow is automated, and managers can easily track which quotes are completed, open, closed, etc.

Providing accurate quotes and estimates promptly is essential to the bottom line of your business. With the right system, the information you need to deliver estimates and quotes is right at your fingertips. Ideally, your ERP should deliver quotation data from an existing or previous quote, sales order or job order. Each quotation can include hundreds of line items, all with different quantities and pricing discounts. Using the right industrial manufacturing ERP solution streamlines this process.

Get a firsthand view of how our software can speed up quoting and estimating to build your business pipeline – request a discovery call.

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