5G: a new challenge for manufacturers
The current situation of the manufacturing industry is very complex, as companies evolve in a very competitive environment. But competition is not the only challenge manufacturers face, as product life cycles have been growing shorter and customers are demanding customized products more and more. The arrival of 5G will ease these challenges, but it is important to be prepared, by investing in the right software today.
5G is the 5th generation in cellular network technology, bringing up more interactions and connections within the actual mobile network for the coming years. It is characterized by five main features:
- a bigger mobile broadband enabling faster connections and bigger data transmissions
- an extremely low latency reducing the uploading time drastically
- an improved network security
- a larger number of devices connected to the same application
- energy savings by increasing power efficiency.
These five features of 5G will drastically increase benefits provided by CPQs.
With 5G, softwares and new technologies will take a strategic place within companies, as time saving and error avoidance are becoming a new priority. In tomorrow’s industry employees will have the right tools to work much more efficiently thanks to customer-friendly software systems. The Internet of Things enabled by 5G will improve this process even further.
5G will be collecting an incredible amount of data, allowing sales representatives and marketing managers to get a better understanding of customers’ needs. Their time saved due to automation will give them the possibility to improve customer relationships and work more on strategic key points. In case a company has already invested in a software to customize products, like CPQ, 5G can unleash its full potential by accelerating the process of bringing customers a tailor-made solution matching their needs. This way, its high speed potential will be the support to reinvent customer relationships.
The optimization of the equipment and the use of Artificial Intelligence decreases the operating costs drastically, as the safety and wellbeing of the workers evolve. Tomorrow’s technologies will improve efficiency by advanced decision-making based on a precise analysis of hard data. The opportunity for a cost optimization like this might be another good reason for you to invest in 5G.
However, 5G technology needs both time and money to be put in place. Its arrival will happen progressively, in different stages, and the benefits will come slowly. As its implementation is not completely done yet, now may be the right time to invest in a powerful technology. Your company should be prepared for the wave of 5G technologies, causing the market to evolve faster than ever and requiring a new level of flexibility. This can be achieved using a CPQ solution. A Configure Price Quote software enables prices to be adapted very quickly, meets all customer needs and enhances the company’s digitization process.
5G is the boost our tools have been waiting for. It unleashes its true potential when paired with the right software, just like electricity is only useful when connected to devices. For the manufacturing industry, 5G reaches its maximum powers through CPQs, improving their capacities and enabling companies to adapt to new market trends. Investing in a CPQ tool now is a good way to prepare for the arrival of 5G itself.
Our piece of advice to you? Be the first mover; Invest in digitalization right now, and get a good ROI before the 5G wave hits. You will enjoy a real competitive advantage and you will stay ahead of your competitors easily. Now more than ever, CPQs are the solution.