TWG Announces Launch of New Product Configurator and Quoting Engine

Rhea-AI Summary

TWG, part of Dover (NYSE: DOV), announced the launch of its Configure, Price, Quote (CPQ) tool on November 4, 2020. This tool enhances customer experience by allowing quick product configuration, accurate quotes, and access to engineering drawings for customized solutions. CPQ aims to drive efficiencies for engineering and sales teams, enabling real-time configuration and quote generation. It serves as a competitive differentiator, streamlining the sales process for original equipment manufacturers and distributors, promoting productivity across multiple markets.

Positive

• Launch of CPQ tool enhances customer experience and efficiency.
• Real-time product configuration and quoting can increase sales and market share.
• CPQ serves as a training tool for value-added resellers, improving sales conversions.

Negative

• None.

DOWNERS GROVE, Ill., Nov. 4, 2020 /PRNewswire/ -- TWG, part of Dover (NYSE: DOV), today announced the launch of its Configure, Price, Quote tool (CPQ), which enables customers to quickly and accurately configure products, receive quotes and download engineering drawings for customized product solutions. CPQ reflects a major investment as part of TWG's digital transformation to improve customers' ease of doing business.

"Delivering excellent customer experiences is a vital focus for TWG. CPQ provides our customers with a seamless configuration and quoting experience," said Arjun Mirdha, President of TWG. "Additionally, CPQ is a competitive differentiator empowering our customers to increase sales, increase product and market knowledge, and expand market share by decreasing time to quote and leveraging the vast TWG product portfolio within CPQ."

CPQ is designed to help increase productivity and drive efficiencies across users. Specifically, engineering and sales teams are able to configure TWG products, generate quotes and 3D models in real-time, and download 2D models, step files, spec sheets, and product literature that help save time during the bidding and pre-sales process.

In addition, CPQ enables original equipment manufacturers to configure products in real-time, as well as identify potential products across the breadth of the TWG portfolio that could support their specific project during the innovation product life cycle.

For value-added resellers and distributors, CPQ is a sales enablement and training tool that helps sales teams quickly respond to customer inquiries across all markets and allows them to walk through a guided selling process, which can increase sales conversions. CPQ is equipped with a competitive differentiator and can be leveraged to help users advance to the next level in the digital transformation maturity model.

CPQ offers two different product choices, configurable and selectable. The configurable product is customizable. Examples of TWG^® configurable products include dp Winch™ winches, Pullmaster™ winches and hoists, and Gear Products™ hydraulic pump drives. The selectable product is available "as is." Examples of TWG selectable products are slewing ring bearings, Tulsa Winch hoists, and Lantec winches and hoists.

For additional information, please visit www.dovertwg.com/cpq.

About TWG:

TWG is a leading manufacturer of winches, hoists, slewing ring bearings, gear drives, hydraulic pump drives, electronic monitoring systems and more. We offer a vast range of products across seven model lines: dp Winch, Gear Products, Greer Company, LANTEC, Pullmaster, Tulsa Winch and RUFNEK-with over one million units installed. To learn more about TWG, visit dovertwg.com.

About Dover:

Dover is a diversified global manufacturer and solutions provider with annual revenue of approximately $7 billion. We deliver innovative equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services through five operating segments: Engineered Products, Fueling Solutions, Imaging & Identification, Pumps & Process Solutions and Refrigeration & Food Equipment. Dover combines global scale, operational agility, world-class engineering capability and customer intimacy to lead the markets we serve. Recognized for our entrepreneurial approach for over 60 years, our team of over 23,000 employees takes an ownership mindset, collaborating with customers to redefine what's possible. Headquartered in Downers Grove, Illinois, Dover trades on the New York Stock Exchange under "DOV." Additional information is available at dovercorporation.com.

TWG Contact:
Kirsten Oelrich
(918) 232-8497
koelrich@dovertwg.com

Dover Media Contact:
Adrian Sakowicz, VP, Communications    
(630) 743-5039    
asakowicz@dovercorp.com     

Dover Investor Contact:
Andrey Galiuk, VP, Corporate Development and Investor Relations 
(630) 743-5131   
agaliuk@dovercorp.com 

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SOURCE Dover

FAQ

What is the new product launched by TWG under Dover (DOV)?

TWG launched the Configure, Price, Quote (CPQ) tool on November 4, 2020.

How does the CPQ tool benefit customers?

The CPQ tool allows customers to quickly configure products, receive accurate quotes, and access engineering drawings.

What impact does the CPQ tool have on sales teams?

The CPQ tool enables sales teams to generate quotes and 3D models in real-time, enhancing productivity.

What types of products does the CPQ tool support?

The CPQ tool supports both configurable and selectable products like winches and hydraulic pump drives.

When was the CPQ tool announced by Dover?

The CPQ tool was announced on November 4, 2020.