Aberdeen recently published a great free report outlining how High Tech companies and CPQ. High Tech can present unique challenges for CPQ due to increasing product complexity and interdepartmental silos that contain separate tribal knowledge. Mass customization is growing and consequently product complexity is skyrocketing. Both manual methods and many CPQ & configurator software can't keep up. Many companies are painted into a corner with outdated processes that limit product offerings, and quote cycle time & bandwidth. Expect this trend to continue as seen below:
The other major takeaways for deals with interdepartmental silos and tribal knowledge. High Tech usually means highly engineered products with substantial product knowledge. This usually means complex workflows that require sales, operations, and engineering communication.
There can be heavy & disconnected tribal knowledge siloed between these groups. (Think lots of issues on what can and can't be manufactured) Many of our customers experience even bottleneck where engineering needs to approve and or design configurations during the quote cycle.
A strong CPQ should act as container to store product rules for pricing, operations, and engineering. To borrow from a recent buyer, "a single source of truth." We could not agree more. Our customers that use our CPQ + CAD Automation get tremendous time savings and eliminate tribal knowledge.