BOSTON–(COMMERCIAL THREAD) –Paperless parts, the leading sales and quoting platform for custom parts manufacturers, today announced the launch of Advanced Analytics, an enhanced functionality of its paperless quotation platform. Paperless Parts understands that digital transformation and Industry 4.0 require the use of data and automation to increase manufacturing efficiency. In order to use data to optimize the front office, prioritize quotes, and work prices effectively, manufacturers need to be able to analyze the data they collect at all levels. Advanced Analytics is a modern business intelligence tool that enables manufacturers to leverage multiple layers of data to make impactful decisions. Manufacturers can now understand when and why they are winning or losing jobs.
There is a lot of effort involved in getting a quote. Rather than blindly citing every job, estimators and sales teams should be able to prioritize quotes that will increase their success rates. This is especially important because buyers automate the way they source, which significantly increases the number of tenders issued. Many manufacturing systems track surface layer data, such as the success rate of a specific customer. Subcontractors need a solution that goes further.
The advanced analysis feature of Paperless Parts provides this level of granularity. Manufacturers can now query their own data and extract information such as pass rates by part geometry, manufacturing process, or material. While stores may already be collecting this data, many don’t have an easy way to analyze it. With Advanced Analytics, manufacturers can now make sense of the information they have and act on it. The solution enables manufacturing companies to see not only how well their business is performing at that time, but also how well they are performing over time in order to continually improve their operations.
âAt Paperless Parts, we value intentionality. As a business owner, there’s no better way to be intentional than to use data to make informed business decisions, âsaid Jason Ray, co-founder and CEO of Paperless Parts. âData is the foundation of all digital transformation, which is why we have invested in making this functionality available to the manufacturing industry where it can have the greatest impact on revenue and profitability. ”
With the advanced analysis feature of Paperless Parts, manufacturers can create custom reports to assess past business performance and determine critical future decisions such as:
Which quotes to prioritize to answer first
The speed with which they must respond to calls for tenders to land the position
Which customers are just looking for prices based on past trends
Success rates based on the complexity of the cited parts
When to buy new equipment to help land new jobs
âWe use analytics to drive behavior within our operation. For example, analyzing our success rates provides insight into the competitiveness of our pricing model and whether or not we are meeting buyers’ expectations with quote turnaround time, âsaid William Wilson, President of PereDel Precision Machining. âWe also use the data to determine which processes our customers are submitting the most price quotes for. This information allows us to offer additional services and capabilities through the purchase of equipment and vertical integration to increase our value proposition.
Paperless Parts is the most powerful estimating solution for manufacturing companies. The advanced analytics feature enables manufacturers to embrace digitalization 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 prosper.
âPaperless Parts Advanced Analytics gave me access to data I had never seen before, such as success rate and quote turnover trends over time. I’m very excited to see how we can leverage this data to continually improve our business operations, âsaid Grady Cope, President of Reata Engineering and Machine Works.
For more information, request a demo to see how Paperless Parts gives manufacturers an extra layer of intelligence to make smart business decisions.
About paperless coins
Paperless Parts is on a mission to help workshops, subcontractors and finishing companies improve their business and grow by providing them with the most advanced, secure and cloud-based sales and quotation system. available. The software streamlines existing manufacturer workflows by combining modern business process automation tools with a configurable geometric pricing engine that improves the speed and consistency of the quotation process. The platform integrates with CRM and ERP systems to boost front office operations and sales teams, and enables more efficient responses to tenders for a variety of manufacturing processes. Manufacturers in the United States have downloaded over a million working files using the platform and are processing over $ 1 million in orders per day. Privately funded by experts in the manufacturing industry, Paperless Parts was founded in 2017 and is headquartered in Boston. Additional information available on pcessanspapier.com.