Telecom Quoting Can't Afford to Lag Behind the Competition

Dec 17, 2020 10:15:00 AM

As telecom quoting processes embrace more software-driven solutions, telecom businesses face greater pressure to transform their operations and keep pace with the industry’s evolution.

Automation and algorithm-based CPQ (configure, price, quote) processes are key to creating the efficiencies needed to accelerate these services. If you aren’t automating the aggregation of your suppliers, then you’re creating a manual process—which increases your quote intervals and causes you to miss out on more opportunities.

When businesses delay digital transformation, they end up creating more challenges in the future. Don’t let this happen to your telecom business—invest in solutions that keep pace with your competition.

The Risk of Unaddressed Friction in Telecom Quoting

A lack of quote automation options creates friction and constraints for everyone involved in the transaction. When you release new telecom product offerings but lack self-service quote automation to support sales channels, for example, you put a hard cap on your ability to leverage the momentum and interest of that launch.

Early adopters of these products and services will be frustrated with the amount of time it takes to get a quote. At the same time, eager telecom partners will grow frustrated at the time and resource cost involved in generating their own quotes.

In most cases, these sources of friction will discourage early adoption and reduce your company’s conversion rates. The more friction you have, the more your growth will be stunted.

Using Automation Investments to Reduce Labor Costs

The up-front costs of adopting automation tools can scare away businesses that want to keep costs low. But the long-term value of these automation tools—along with long-term savings on labor—can far exceed transition costs.

Telecom businesses must also consider the opportunity cost that comes with automation. When you fail to give valued employees the tools they need to maximize their performance, you’re leaving customers and revenue on the table. 

This is particularly true when you try to scale your customer base and your business: Efficient quote automation allows you to generate quotes without digging through data, maps, or wasting time on other manual processes. Although a quoting tool can support your employees through these manual processes, this technology-aided service can’t match the efficiency and value of full automation. 

Ultimately, manual processes aren’t sustainable for businesses that want to grow their business and keep pace with a fast-changing industry.

Building a Customer-Centric Approach to Service

Automated telecom quoting doesn’t just improve your backend operations. It has a direct impact on the customer experience.

While some business leaders may worry that quote automation is too complex to automate, the reality is that today’s automation technology is capable of accounting for complex business rules that can tackle the vast majority of your quoting processes. Similarly, some companies may fear that automation eliminates a person-to-person sales experience that takes white-glove treatment out of the equation.

In reality, though, the opposite is true: By connecting your customers with efficient solutions to their needs, you are able to deliver greater speed and accuracy, which strengthens your overall brand experience. These powerful CPQ tools also allow your sales team to spend more time consulting on sales, instead of building quotes.

Your customers are looking for fast service and results. Automation helps you meet those demands.

A Scalable Way of Doing Business

Automation can help your business deliver quotes to customers and prospects for just pennies at a time. If you’re currently adding up your quoting costs in dollars, there’s no way you can keep pace with your competition.

With an automated approach to quoting, you can start delivering quotes for just pennies per customer—and cut out unnecessary costs related to using coverage maps, quoting tools, spreadsheets, and other functions of the manual quoting process. Cut out these costs and upgrade to a customer-centric approach that saves your business time and money.

Find out how MasterStream ERP can accelerate your telecom quoting, and your overall business innovation—contact us today.

CPQ telecom demo

Post a Comment