We drive our SUVs to the ATM for cash. For bottom line product info, we scan a QR code for product info. Medical experts connect IVs for hydration and power up EKGs to check brain waves. We “LOL” and “BTW” a lot, especially when we send texts.
And, in our industry, AE’s consider GPM and TDH, while CIO’s and MD’s evaluate CRM and ERP.
I can’t speak for every culture and country, but here in the U.S. we have evolved into an acronym-loving society. This may be because we value speed and, even more likely, because we expect ease and convenience. No matter the cause, we clearly love to find shorthand ways of expressing ourselves.
That’s why I always watch with interest when new acronyms take on a life of their own in business. As I’ve noted before, CPQ has developed into the latest conversational and operational standard.
And it got there PDQ. Ten years ago, no one had heard of it. Today, it’s how we search for sales automation software.
This is one abbreviation, though, that seems to omit a critically important element. Configuration, Pricing and Quoting are essential. But so is Selection.
Manufacturers of pumps, valves, blowers, motors, fans, compressors and other fluid-handling related equipment will agree with me. If a user doesn’t know the industry, the benefits and performance characteristics of products and how to choose which model will truly work best for the application at hand, it doesn’t matter how well you execute configuring, pricing or quoting, you can’t make up for an improper selection.
To use a car analogy, dozens of car manufacturers sell literally hundreds of models. A purchaser needs to navigate this abundance of choices and select a car that matches their personal needs, budget and even climate and road conditions. For some, it may be a Ford Fiesta S Sedan, while for others it may be Mercedes C63 AMG. Both cars will get you to your destination — but they clearly sport different features and very divergent price tags. Configuration and pricing for these specific models could not occur until the user “Selects” a model.
Eeeny-meeny may help kids make choices, but an adult’s world, especially a highly complex industry like ours, demands a more thoughtful methodology.
So what’s your vote? Shouldn’t it really be Selection, Configuration, Price, Quote or SCPQ?
Let me know your thoughts ASAP.