Learn the Steps in the Quote-to-cash Process Flow | Selectica


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The journey from quote to cash can be plagued by regulatory penalties, missed deadlines, lost sales, maverick pricing, and transactional errors. These costly issues mean missed or lost revenue for companies to the tune of 9%. Want to make sure you always get to cash and keep customers happy? This presentation will point out ways to streamline and improve the quote-to-cash process. http://bit.ly/SYByxW

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Learn the Steps in the Quote-to-cash Process Flow | Selectica

  1. 1. LEARN THE STEPS IN THEQUOTE-TO-CASHPROCESS FLOWClimb to the top of the deal“mountain” and collect the cash.
  2. 2. Too often, businesses get stalled on their climb to thetop of the deal mountain. Knowing how to navigate thecritical steps between quote generation and revenuecollection can be what gets them over the hurdle.Now, let’s take a closer look.
  3. 3. PricingPricing requires either manual or automated systems todetermine what products should be offered at whatprices, and what promotional or discounting rules can beapplied.So what? Invest in a system that puts guardrails inplace to ensure your sales team is quoting products atthe right price, and offering only approved discounts.
  4. 4. Quote creationTo create an accurate quote, your sales team needsreal-time access to available products, accuratebusiness rules, and approved discounts.So what? When managed manually, quoting cantake a lot of time, and be fairly error-prone. Anautomated system for sales configuration makesfaster, 100% accurate quotes easy.
  5. 5. Negotiation and approvalsThis can be one of the hardest steps to streamline,and is a main culprit for deal deceleration. Even afteryou’ve managed to complete negotiations, approvalspresent yet another opportunity for bottlenecks.So what? A system that streamlines approvals keepsbusiness moving quickly and cash coming in sooner.
  6. 6. Contract and order managementThis critical phase includes contract creation andexecution, and deliverable management, includingkeeping track of customer orders, packaging, stocklevel maintenance, and shipping.So what? If information in any of your systems iscaptured incorrectly, a customer is ultimately goingto be shipped the wrong order.
  7. 7. InvoicingInvoicing can be initiated based on either the salesorder or the shipment of product, and is typicallymaintained in either an ERP system or through amanual processes.So what? Capturing accurate pricing, deals, anddiscounts in your invoices means happier customersand repeat business.
  8. 8. Systems—whether automated or manual—must bein place to handle the inflow and capture ofpayment from customers, as well as distribution ofcustomer receipts if necessary.So what? Avoid leaving cash on the table byimplementing a system that tracks deal progressionto the very end.Payment receipt
  9. 9. Now, you’ve made it throughthe quote-to-cash process.So what?
  10. 10. Deals don’t end with getting to cash in thequote-to-cash process. A contract must then becreated and managed to extend the life of thedeal and give your team opportunities torenew or grow the account.
  11. 11. Quote-to-contractWhere guided selling ends, contract management begins.Connecting guided selling to contract management takesyou beyond quote-to-cash, and ultimately extends thevalue of your deals for maximum revenue.So what? Really? You don’t want more money?!
  12. 12. Consider this scenario from Aberdeen research:“In any enterprise the reduction of sales cycles is critical and through ourresearch we have found that, on average, 18% of an enterprise’s salescycle is attributed to contract creation, negotiation and approval,which if reduced can have a significant impact. Exploring this further, weconcluded that on average a one day reduction in the sales cycle isworth approximately $80,000. For the larger enterprises this is worthover $215,000; in several cases, this number was much larger and the factis that best-in-class companies have cycle times that are 10 to 15 daysshorter than other companies.”So what? Contract management reduces time spentmanaging contracts, shortening the sales cycle andincreasing revenue.
  13. 13. The quote-to-cash cycle is anything but simple. Forcompanies with complex product and service offerings,each of the steps in the quote-to-cash cycle requires asystem—whether manual or automated—to keep theprocess flowing. It begins with guided selling.
  14. 14. Thank youVisit our site today to readour quote-to-cash guide in full.