Keysight Achieves 40% Faster Quotes with ServiceNow CPQ Integration
By leveraging ServiceNow's CPQ solution, Keysight Technologies has significantly accelerated its sales process, enabling quotes to be generated 40% faster and enhancing its overall digital commerce capabilities.
Key Facts
- Keysight's quote generation speed improved by 40%, enhancing sales efficiency and responsiveness.
- ServiceNow CPQ reduced configuration setup time by 50-80%, lowering operational costs significantly.
- Keysight can now offer more self-service options, reflecting a shift towards customer-driven sales models.
- The integration of ServiceNow CPQ mitigates legacy system vulnerabilities, streamlining future acquisitions.
- Faster product launches enable Keysight to capitalize on market opportunities, boosting competitive positioning.
Summary
Summary
Keysight Technologies, a design enablement provider, faced challenges with slow quote processing and complex product configurations. By implementing ServiceNow CPQ, they accelerated quote generation by 40% and significantly reduced configuration setup and maintenance time by 50-80%. This transformation allowed Keysight to enhance its online customer experience and streamline operations.
Background
Keysight Technologies, Inc. is a technology manufacturer specializing in mission-critical design enablement for complex engineering challenges. Prior to deploying ServiceNow CPQ, the company struggled with manual quoting processes and a growing product portfolio that required more self-service options for customers.
Challenge
Keysight needed to reduce the time its sales team spent on administrative tasks and improve the efficiency of its quote processing. The complexity of its product offerings and the need for timely updates during acquisitions or new product launches created significant bottlenecks in their sales operations.
Solution
Keysight implemented ServiceNow CRM with CPQ, which features an API-first design that allows for advanced customization without the need for custom coding. The intuitive rule builder enabled system administrators to manage configuration and pricing logic directly, streamlining the quote generation process and enhancing self-service capabilities on their website.
Results
With the deployment of ServiceNow CPQ, Keysight's sales representatives generated quotes 40% faster. Additionally, the company achieved a 50-80% reduction in configuration setup and maintenance time, freeing up resources for broader company initiatives.
Key Insights
Organizations facing complex product configurations can benefit from platforms that allow for customization without extensive coding. Streamlining sales operations not only improves efficiency but also enhances the customer experience by providing more self-service options.
Customer Testimonial
“More customers want to research and configure products themselves. We needed to unify our online customer experience and accelerate how we bring new products to market. ServiceNow allows customers to configure complex products directly while helping us scale faster through acquisitions and product innovations.” — Dan Krantz, CIO at Keysight.
Entities Mentioned
Companies
Products
People
Key Concepts
Definitions
- CPQ
- CPQ stands for Configure Price Quote, a software tool that helps companies generate quotes for orders quickly and accurately.
- API-first design
- API-first design refers to a development approach where APIs are prioritized in the design and development of software applications.
- Sales effectiveness
- Sales effectiveness is the ability of a sales team to sell more efficiently and effectively, often through improved processes and tools.
- Self-service options
- Self-service options allow customers to access and manage services or products independently, often through online platforms.
- Maintenance overhead
- Maintenance overhead refers to the ongoing costs and resources required to maintain and support a system or product.
Use Cases
- →Accelerating sales processes
- →Reducing quote processing time
- →Enhancing online customer experience
- →Facilitating product configuration by customers
- →Streamlining acquisition integration
- →Improving product launch speed
Frequently Asked Questions
What is ServiceNow CPQ?
ServiceNow CPQ is a software solution that helps businesses generate quotes quickly and manage complex product configurations without extensive coding. It is part of the ServiceNow CRM portfolio.
How does ServiceNow CPQ benefit Keysight?
Keysight benefits from ServiceNow CPQ by generating quotes 40% faster and significantly reducing the time and effort needed for configuration setup and maintenance.
What challenges did Keysight face before using ServiceNow CPQ?
Before implementing ServiceNow CPQ, Keysight faced challenges with manual quoting, product complexity, and lengthy setup times for new products and acquisitions.
What is the significance of API-first design in ServiceNow CPQ?
API-first design in ServiceNow CPQ allows for better integration and flexibility, enabling users to manage complex rules without the need for custom coding, which streamlines the quoting process.
How does ServiceNow CPQ enhance customer experience?
ServiceNow CPQ enhances customer experience by providing self-service options that allow customers to research and configure products independently, leading to a more efficient purchasing process.