The 4th Industrial Revolution (4IR) brings with it technologies such as artificial intelligence, augmented reality, robotics, and 3D printing. These advancements are quickly altering the way that people and companies create, interact, exchange, and distribute value.
Such epic shifts in technology will profoundly influence all aspects of humanity, across institutions, individuals, and industries. Companies are forced to digitally transform their sales and manufacturing processes with the help of these smart, immersive, and immediate technologies.
Customers today are expecting the same experience regardless of whether it is a B2C or B2B transaction. 80% of customers surveyed by Salesforce Research say that the experience a company provides is as important as its products and services. Everyone wants answers now – reflected in past, personal experiences with the company.
Manufacturers represent 16% of global gross domestic product (GDP), while accounting for 64% of global spend on research and development . Product companies are investing in optimizations for their production systems, increasing their operations’ productivity and quality performance.
The way that manufacturers quote, sell, design, and produce goods has fundamentally changed.
Companies are expanding their competitive advantage by attacking operational inefficiencies and automating anywhere that they can.
These digital and organizational transformations towards a 4IR future may seem impossible or out of reach to many companies, but the risk and cost of not transforming are greater.
“We already see developments that will change the manufacturing industry through 2023 — for example, uniform physical goods that are transformed into unique digital items through the use of information technology — so the time to act is now.”
Pete Bailiere, Vice President Analyst at Gartner
“Organisations that get too comfortable with the status quo are at major risk of disruption…If you’re not asking questions about how your organisation is navigating and plugging into disruption, forming new ecosystems, and tapping into open markets, then your organisation is at risk.”
Andrew Yaz, Global Chief Innovation Officer at Deloitte
Product variation compounded by the complexity of multiple pricing models can create confusion and inefficiency among your organization’s engineering, manufacturing, and sales teams. In this four-part guide, we’ll uncover how to address challenges like these in your sales to manufacturing processes by using CPQ software.Get the eBook
The way to gain your first win in the 4th Industrial Revolution is to deliver an awesome buying experience and simplify manufacturing with easy-to-use CPQ software powered by KBMax.
“This complete digital transformation changed our
37-year-old company forever.”