We recently discussed homegrown vs. third-party quoting solutions and how to know when it’s time to make the transition.
However, this transition is often met with quite a few objections; that’s why we’d like to take a closer look at the top two and demonstrate why these objections are often misguided.
1. They don’t have domain expertise.
The most common objection to using a third-party vendor’s quoting solution is that the vendor doesn’t have domain experience and expertise—they don’t understand the business’s unique problems, needs, and specifications.
This notion may be true for most third party quoting solutions, however, at FPX we have staff that are experts in mechanical equipment such as pumps, blowers, compressors, valves, mixers, HVAC equipment, and more. In fact, we pride ourselves on our domain experience; our knowledge engineers—including computer programmers and mechanical engineers—do this work day in and day out. They get to work every day to ensure that FPX is the best Select-Configure-Price-Quote (SCPQ) company in the world for the industry verticals we do business in.
2. They won't be able to handle sophisticated algorithms and/or capabilities.
Another common objection is that third-party vendors aren’t able to handle a company’s sophisticated algorithms or other technical capabilities.
To this we say: We’ve done very complicated CPQ implementations for very complicated industries (the compressors, blowers, and fans industry, heat exchangers, valves, etc.). The clients we serve and the type of equipment we’ve implemented over the past 20 years have allowed us to apply our domain experience and engineering prowess. It’s due to these strengths that we’re able to build selection and configuration solutions for a very wide variety of mechanical equipment types in our domain.
Other Ways Third-Party Solutions Can Help
Now that we’ve taken a closer look at these common objections, what are other ways third-party vendors can help when it comes to implementing a quoting solution?
When looking at IT infrastructure, while homegrown solutions can be spun up rather quickly due to the sheer passion of those involved in developing the tools, the current market’s UI and UX expectations creates an enormous burden for in-house solutions. That’s because due to current technological advancements (new software technologies, browsers, hardware platforms, security expectations, etc.) the market dictates that those whose business value is really in designing and shipping mechanical equipment ALSO need to be experts in IT and software.
This is when a third-party vendor can step in and help.
Another way in which a vendor’s quoting solution can be of service is when it comes to attrition. If in-house solutions are centered around one to three people—and these people are the brains, expertise, and passion behind your homegrown solutions—it can be problematic if and when these people decide to leave your company. Whether it’s due to retirement, a new role, or a new career, the loss of these team members can put companies in a tight situation to maintain and sustain your quoting solutions.
This is exactly why it’s important that you have a robust back-up plan in the form of a third-party vendor that has the software, services, and domain expertise to provide your business with a long-term, sustained solution. Especially one that’s been in business for 35 years and has customers that have used their products and services for decades.
Your business deserves the best. Learn more about how FPX can provide your company with the professional, bullet-proof enterprise quality solution it deserves.