FPX Industry Vertical Solutions

F PX IN D U S T R Y V E R T IC A L S O LU T IO N S F P X . C O M | 1 - 8 6 6 - 8 2 6 - 6 3 4 4 | 2 6 0 0 D A L L A S PA R K W AY, S T E 5 9 0 | F R I S C O , T X 7 5 0 3 4 © 2017 All rights reserved. FPX and Configure-Price-Quote are registered trademarks of FPX, LLC. Predictive Applications is a trademark of FPX, LLC. The FPX logo is a trademark of FPX, LLC. P O W E R A N D A G I L I T Y | C P Q S O L U T I O N S T A I L O R E D T O Y O U R I N D U S T R Y For companies selling highly configurable products and services, there are numerous complex processes that must be undertaken to complete even a relatively simple order. With hundreds, thousands or even millions of configuration variables; complex SKUs; extended networks of sales reps, Subject Matter Experts (SMEs), engineers, as well as channel partners and resellers; even a simple order may change hands dozens of times before it ever reaches the customer. Whether it’s a sales person in the field assembling a quote or proposal, a dealer or reseller working directly with the customer, or a customer looking to configure an order through your ecommerce portal, the complex flow of product and pricing information, business logic, and customer data that accompanies every sales transaction are all prone to quoting, configuration and order errors that at best cause significant delays, and at worst sacrifice valuable revenue. In this ecosystem where customers have immediate access to information, pricing comparisons, and the option to buy when, where and how they want, there’s little room for error on the part of B2B sellers.* To be successful, businesses from across a variety of industry verticals must streamline their complex processes and deliver an optimal buying and selling experience to all users while taking steps to deliver products and services across multiple channels, including direct sales, indirect and partner networks as well as ecommerce. *Forrester Research, Winning in the Age of the Customer: Embrace Four Imperatives to Transform your COmpany for Customer Obsessions, April 6, 2015. “Customer-obsessed businesses will win in the age of the customer.” - Forrester Research In today’s B2B world, buyers have raised the stakes. 02 F P X D E L I V E R S S O L U T I O N A C C E L E R A T O R S FO R T H E M O S T P R O M I N E N T I N D U S T R Y V E R T I C A L S At FPX, we have more than 30 years of experience helping organizations in discrete manufacturing, healthcare insurance, high-tech manufacturing, automotive and numerous others manage their complex business processes with the technology and resources to drive revenue, enhance margins, and implement the digitally-enabled buying and selling models that are replacing traditional sales processes. Our enterprise Configure-Price-Quote™ (CPQ) application allows organizations spanning a variety of industry verticals to quickly and seamlessly complete configure- to-quote, quote-to-order and engineer-to-order business processes with our industry- specific implementation accelerators. At FPX we offer: • Pre-built industry templates (accelerated configuration models), based upon industry leading practices • Specific implementation programs to lower risk, decrease cost and accelerate time to market • The FPX Center of Excellence (CoE) program for knowledge transfer and self sufficiency Backed by our FPX Data Manger, our solution allows customers to create a Master Commercial Definition of their business, leveraging customer, product and pricing data within existing CRM and ERP systems while applying business rules and logic which drive cloud-based and on-premise applications. This approach enables customers to implement their direct and dealer-based sales applications for the lowest total cost of ownership while moving toward a comprehensive online buying and selling model. A U T O M O T I V E A N D T R A N S P O R T A T I O N D I S C R E T E M A N U F A C T U R I N G E N E R G Y A N D U T I L I T I E S F I N A N C I A L S E R V I C E S H I G H - T E C H M A N U F A C T U R I N G M E D T E C H A N D H E A LT H C A R E T E L E C O M M U N I C A T I O N S 04 S M A R T E R S E L L I N G S T A R T S W I T H M A P P I N G T O M O D E R N B U Y E R S Whether your business manufactures automotive parts or fleet vehicles; software and hardware solutions; sells insurance policies and other financial services; or other complex, configurable products and services; FPX will ensure you sell the right product, at the right price, to the right customer, delivered across any channel. With FPX CPQ, a sales rep can quickly create 100% accurate configured solutions that meet the customer’s specific needs by simply entering the requirements and allowing the application to fill in any blanks and propose the optimal solution. Similarly, partners and vendors use FPX CPQ to configure products, implement dealer pricing, and offer solution bundles. Ecommerce users can build solutions independently within modeling constraints, produce a quote or proposal, send it to a sales rep, or even complete the transaction independently on any device. 1 0 0 % A C C U R A T E Q U O T E S I N M I N U T E S Where it once took days or even weeks to produce a quote, with FPX CPQ, sales teams and even self- service users can quickly create error-free quotes and send them out in a matter of minutes. Users can: // Create, edit and manage documents dynamically // Tailor proposals to include any additional supporting documents // Include 2D and 3D visualizations of configurations // Include pricing and discounting, as well as technical summaries // Add detailed user and solution manuals and product or material lists // Generate proposals in multiple languages and currencies To further simplify the quote-to-order processes, FPX’s built-in workflow automates approval processes from sales, development and engineering, finance, legal and other constituents involved in solution delivery. sell the right product at the right price to the right customer 06 O U R P R O P R I E T A R Y E N G I N E P O W E R S O U R S O L U T I O N At FPX, flexibility and agility are not just buzzwords; they are the guiding principles of our product architecture. As a platform-agnostic, modular solution, FPX allows your organization to unify customer data, product catalogs, price books, rules and business attributes from diverse systems of record into a single location via our productized integrations with leading platforms such as Salesforce, SAP C4C, SAP Hybris, Oracle, IBM, Adobe and Microsoft. Our proprietary engine ingests, harmonizes and processes diverse data types and sources to create what we call the“Master Commercial Definition” for your business, which doesn’t require extensive IT development or maintenance. Our cloud-based CPQ application leverages the Master Commercial Definition to deliver an optimized and personalized buying and selling experience – the right product, to the right customer, for the right price – regardless of channel. C O N N E C T I N G B U S I N E S S E S T O T H E E V O LV I N G B 2 B C U S T O M E R J O U R N E Y FPX simplifies buying and selling processes to better align your business with the expectations of modern customers across any and all channels. Powerful enough to handle any level of complexity, nimble enough to advance your commerce strategy and simple enough to seamlessly extend and enhance the capabilities of direct and indirect sales, FPX is the business agility engine to power success in this era of Digital Transformation. With FPX, today’s leading organizations are optimizing the customer and user experience across their sales, partner, and ecommerce channels, resulting in increased revenue and profit margins, increased loyalty and engagement and empowered IT assets. 08 Why choose FPX CPQ? According to Forrester*, CPQ solutions have historically been tied to verticals like high-tech and manufacturing, but with optimizing sales processes to be more customer focused a major priority, CPQ’s ability to extend features like guided buying and selling, dynamic document generation, and ecommerce optimization have made it a must for global enterprises. *Forrester Wave: Configure-Price-Quote Solutions, Q1, 2017 Our experience and focus = a better product for specific industries: Companies with highly specialized needs require very specific solutions. At FPX, we focus on providing a “best of breed” solution that is tailored to the unique needs and goals of customers in each industry vertical we serve. We’re focused on CX and UX within your industry: As Ed Thompson, VP Distinguished Analyst, at Gartner, Inc., put it: “Leaders across every part of the enterprise are claiming to place experience at the center of their strategies. But talking is not the same as doing.”* At FPX, we’re focused on CX and UX because we understand what users, as well as customers expect from their buying and selling engagements. We use our decades of experience in numerous industries to help companies tailor the UX/CX to match the specific needs and expectations of their constituents, thereby ensuring ease of use, greater user adoption as well as customer engagement and loyalty. *Future of Experience: A Gartner Theme Insight Report Become a destination of choice for your customers: When you’re easier to do business with, buyers want to do business with you. Likewise, when your sales teams and partner networks find the solution easy to use and it helps them do their jobs, they are going to embrace it. In short, a strong IVS helps companies become “the destination of choice” within their vertical by creating a better overall experience for every user. Lower Total Cost of Ownership (TCO): As a purpose-built solution, users receive the core features and functionality they need while leaving out what they don’t, thus decreasing overall costs. Furthermore, this lower cost to entry allows SMBs and other buyers to realize the benefits of a best-in-class CPQ application. Scalable solutions deliver long-term value: Once the solution is up and running within a specific section of the business, many companies wish to extend the capabilities of the solution to other areas. Our IVS solution can easily scale to ensure companies see the greatest return on investment without downtime reconfiguring the solution. Leverage your data: For many companies employing a CPQ solution for the first time, one of the most significant advantages is the ability to leverage data across the organization. By sourcing, managing and distributing customer, product, pricing and business data, users can use this information to optimize solutions and processes to improve the organization’s overall performance. Pricing that limits barriers to entry: CPQ solutions are often costly and can eat up resources during a drawn-out implementation process. With our pricing model, customers can scale the solution gradually over time. Furthermore, as a platform-agnostic solution, users can extend the capabilities of their CPQ application to other parts of the business such as ERP, CRM and other applications. Develop your own Center of Excellence (CoE): At FPX, we empower our customers with comprehensive Services and Support. Our internal Expert Services team delivers unmatched CPQ domain expertise. Also, our network of implementation partners will have you up and running quickly and performing like CPQ experts in no time. 010 You’re ready to enter the era of Digital Transformation To succeed in this rapidly changing business environment, businesses across industries need to arm themselves with the knowledge, resources and resolve to connect with buyers. FPX CPQ provides businesses from across a variety of industry verticals with the ability to simplify complex buying and selling processes while aligning with the needs of today’s B2B buyers. Powerful enough to handle even the most complex configurations and business rules, while also agile enough to advance a move toward commerce or other delivery strategies, FPX extends and enhances the capabilities of all buying and selling channels. 012 O U T C O M E S D R I V E N B Y F P X C P Q • Increased average deal size via cross-selling and up-selling • Reduced costs of generating proposals; eliminated need for multiple tools and platforms; improved risk management and compliance • Reduced time-to-market for new offerings and solutions • Better win/loss ratio thanks to improved data during the approval process • Improved responsiveness with customized proposals • Grew new customer acquisitions thanks to dynamic, optimized solutions tailored to individual requirements C O M PA N Y O V E R V I E W Honeywell Building Solutions (HBS), a subsidiary of Honeywell International, Inc., is a global leader in advanced controls and automation technology that optimize building performance. HBS installs, integrates and maintains the systems that keep facilities safe, secure, comfortable, productive, and energy efficient. T H E C H A L L E N G E Due to inaccuracy, human error and the sheer amount of effort required to produce a quote, HBS was recognizing less than ideal quote margin and profitability. T H E S O L U T I O N HBS selected FPX to be their solution for new product introductions, selling to and servicing. C A S E S T U D Y: H O N E Y W E L L B E N E F I T S D R I V E N B Y F P X C P Q • Process automation and digital visualization • Reduce sales cycle • Accurate buying process for resellers and distributors • Increase of top-line sales metrics and achieving higher selling margins • Improve customer/partner experience O U T C O M E S D R I V E N B Y F P X C P Q • Calculating pricing went from days to seconds • Increased sales and improved gross margins • Decreased overall cycle time to produce quotes • Improved the UX/CX for sales teams as well as prospects and customers with instant quotes, configurations and prices • Reduced more than 80% of pricing errors, significantly lowering write-downs and other concessions C O M PA N Y O V E R V I E W Fujitsu Network Communications, Inc., recognized that its multiple products containing thousands of parts and countless configuration scenarios were creating significant quoting problems across the organization. Facing staggering levels of product complexity, Fujitsu's sales reps and its network of resellers were stuck with configuration, pricing and quoting cycles that required the help of product experts and were often measured in days as opposed to hours or even minutes. T H E C H A L L E N G E Fujitsu needed the right CPQ solution to integrate with its front-end lead management solution and back-nd SAP ERP. By bridging the gap to its sales value chain, FPX helped Fujitsu: • Reduce complexity across the quote-to-order process • Eliminate pricing errors and lost sales opportunities • Provide visibility across the organization into sales, services and customer data C A S E S T U D Y: FUJ ITSU “WE NOW HAVE CONSISTENTLY FORMATTED QUOTES MAINTAINED IN A CENTRAL LOCATION .” – Dave Hawkins, Fujitsu 014 T H E C H A L L E N G E Hino needed to improve the business process for their respective dealer partners to configure, price, and quote Hino Trucks. With outdated technology tools that were hard to maintain, there was no visibility into the selling process across the Hino dealer community. T H E S O L U T I O N Hino Motors Sales selected FPX to allow Hino Motors Sales to manage and streamline their entire quote-to-order process across all dealer channels. C A S E S T U D Y: H I N O T R U C K S T H E R E S U LT S • Automated and streamlined quoting process for dealers to spec, price and quote trucks • Interactive visualization of the vehicle, including the integration of engineering rules to eliminate vehicle configuration errors • Facilitated deal pricing and financing • Enhanced quote-to-order process by providing dealers with consistent and accurate quotes and proposals for their end customers • Provided integration to Hino.net for Order Management • Improved pipeline management by increasing visibility into quoted products and deal specifications • Created an environment that is easily maintained and infinitely adaptable to business and process changes Hino Motors Sales U.S.A., Inc., is the commercial truck division of Toyota Motors Corp., producing Class 6-7 (medium duty) trucks for the U.S. market. C A S E S T U D Y: M I N D R AY N O R T H A M E R I C A T H E C H A L L E N G E In an effort to streamline and automate a manually heavy quoting process, Mindray NA leveraged FPX to address the following challenges: • Manual quoting was an extremely resource-intensive process, requiring field sales representatives to call upon the sales support team for its product knowledge to produce the quote • Manual approval processes were time consuming and needed to be automated • Customer quotes were often produced reactively, resulting in quote and order inaccuracies T H E S O L U T I O N FPX delivered a Salesforce integrated CPQ solution to automate and streamline the quoting process, improve quoting accuracy and velocity, and allow sales teams to transition to a more proactive and customer-centric mode of operation. T H E R E S U LT S Today, Mindray NA experiences the following benefits from its FPX CPQ solution: • 640% increase in quoting output • 80% reduction in time to produce a quote, and 90% reduction in lead-to-quote time • Improved quoting accuracy by 95% • Business rules within FPX’s solution reduced the need for sales support by 75% • Guided selling coaches sales representatives to confidently produce accurate quotes • By packaging bundles and add-on products, sales reps can upsell 90% of their opportunities • Enhanced inventory management which reduces costs and delivers added ROI to the business Mindray North America (Mindray NA) is one of the leading global providers of medical devices and solutions. Firmly committed to a mission of “Sharing medical technologies with the world”, Mindray is dedicated to innovation in the fields of Patient Monitoring & Life Support, In-Vitro Diagnostics, and Medical Imaging. 016 T A K I N G Y O U R B U S I N E S S F O R W A R D I N T H E E R A O F D I G I T A L T R A N S F O R M A T I O N At FPX, we believe that there is no such thing as a one-size-fits-all solution. With our Industry Vertical Solutions, we provide businesses with a market-proven CPQ application with all the features and functions they require, and none that they don’t. To learn more about how FPX is helping B2B buyers and sellers streamline complexity and connect with modern buyers, reach out to us at fpx.com. F P X . C O M | 1 - 8 6 6 - 8 2 6 - 6 3 4 4 | 2 6 0 0 D A L L A S PA R K W AY, S T E 5 9 0 | F R I S C O , T X 7 5 0 3 4 © 2017 All rights reserved. FPX and Configure-Price-Quote are registered trademarks of FPX, LLC. Predictive Applications is a trademark of FPX, LLC. The FPX logo is a trademark of FPX, LLC.