
5 Tips When Using a Balanced Scorecard
A Balanced Scorecard is a performance metric used to identify, improve and control a business’s various functions. The original concept was introduced in 1992 by David Norton and Robert Kaplan. The idea behind it was to take previous metrics for measuring performance and adapt them so that they include non-financial information as well.
WTF CPQ?
The answer: Configure. Price. Quote.
If you are involved configuring products or services, calculating prices and providing quotes, this could be an extremely valuable read.
The more complex your product or bundles, and the more time it takes for you to raise a quote, the more this will interest you. And if your customers demand fast quotes, then by now you should be drooling.
So, what is CPQ?
CPQ is relatively new cloud technology.
It makes the job of building quoting quicker, with greater accuracy and improve control over pricing.
How does it work? Let’s take a typical manufacturing firm who make bespoke products for resellers.
Their quotation process may look something like this:
So, the pain points are:
CPQ makes this entire process, quicker and more accurate. Here’s what happens.
Set up:
Output:
So once implemented, the quotation process now looks as follows:
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