Just as it is difficult to see the entire forest when you are lost in the trees, making sure every step of a sales relationship is followed and enforced can be difficult when you are struggling to keep up with day-to-day tasks.
Quote-to-cash processes can provide a trail of bedcrumbs that helps lead a sales team through the forest to the clearing—or goals—at the other end.
Quote-to-cash processes is a catch-all term for all of the business processes used in selling a product or service to a customer — from the opening offer to collecting the final payment.
Software systems, such as Kenandy, that automate quote-to-cash process typically include tools for configuring the initial offer, determining the price, offering a quote, handling the negotiating process, developing invoices, fulfilling orders, receiving payment and ensuring that appropriate renewal renegotiations take place. The technology behind quote-to-cash software is driving a $570-million-dollar industry, that has been demonstrating a 20 percent growth rate year over that is expected to continue until at least 2020.
Each of these steps are designed to help sales teams focus on their daily tasks without losing track of the bigger picture.
In this editorial from SupplyChainBrain, Rajat Bhargav and Dave Shidler of Oracle, cite increases in total revenue of up 10 to 15 percent, increase in sales per customer of 10 to 15 percent, increases in cross sales and up sales revenue by 20 to 35 percent, sales cycle times increasing by 25 to 50 percent, reductions in order processing errors of 20 to 30 percent, and a reduction in cycle time of roughly 10 percent for organizations that adopt quote-to-cash processes.
Here are five ways quote-to-cash solutions can help streamline your business processes:
Long story short, quote to cash give companies an easy way to automate a large number of their most important processes to ensure that nothing critical gets lost among the ongoing challenges of driving a sales-focused operation. These solutions provide a powerful guide to keep you from losing your way as within the daily wilderness of modern business.
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