PAPERLESS PARTS introduced the Advanced Analytics feature for its online sales and quoting platform for custom part manufacturers, allowing them to understand “when and why they are winning or losing jobs” by leveraging multiple layers of data as part of their decision-making processes.
Advanced Analytics provides them with data granularity that help a business’s estimators and sales teams prioritize quotes that will increase their win rates. This is especially important as buyers automate the way they are sourcing, which dramatically increases the number of RFQs issued. While many manufacturing systems track surface-layer data (e.g., win rate by a specific customer), the Advanced Analytics goes deeper.
Manufacturers can query their own data and pull information like win rates by part geometry, manufacturing process, or material. While shops may already be collecting this data, many have not had a simple way to analyze it. Advanced Analytics helps manufacturers make sense of the information they have and act on it.
“Data is the foundation of every digital transformation,” according to Jason Ray, co-founder and CEO of Paperless Parts. “That is why we have invested in making this functionality available to the manufacturing industry where it can have the largest impact on revenue and profitability.”
With the Advanced Analytics feature, manufacturers can build customized reports to evaluate past business performance and determine critical future decisions like:
- Which quotes to prioritize responding to first?
- How quickly they need to respond to RFQs to win the job?
- Which customers are just shopping around for pricing based on past trends Win rates based on complexity of parts being quoted?
- When to buy a new piece of equipment to support winning new jobs?
The Advanced Analytics feature allows manufacturers to embrace digitization and data to optimize front-office operations and overall business health. This is another example of the company’s continued drive to bring modern software to the manufacturing industry. Paperless Parts enables all manufacturers to begin their digital transformation and thrive. Learn more at www.paperlessparts.com
