Learn How to Speed Up the Quote-to-Cash Cycle in Your CRM by 40%
Your CRM has all the tools for streamlining your business process, but do you make full use of them? Quote-to-Cash or Q2C software stands for the integrated and automated management of business processes that have been implemented to cover the entire buying process. From attracting leads to delivering a quote, completing a transaction and serving an invoice online, the Q2C cycle is what every sales team goes through during the sales process. Whether you are working in Salesforce, bpm’online or Dynamics 365, there is a way to speed up the contract process in your CRM by up to 40%.
How does Quote-to-Cash work for sales managers?
Using Q2C solutions, sales managers are able to complete the following tasks within their CRM dashboard:
- Configuration: Creating an appropriate combination of products and services
- Pricing: Applying discounts, running promotions and offering bundles
- Quoting: Generating, approving and sending an accurate quote to the customer
- Contract Creation: Creating a contract or order form
- Contract Negotiation: Updating current terms and clauses while negotiating it in real time
- Contract Execution: E-signing an approved contract
- Order Fulfillment: Receiving, processing and approving the order
- Billing: Calculating final charges and providing an invoice to the customer
- Revenue Recognition: Confirming payment reception
- Renewals: Managing customer retention and recurring revenue
CRM systems enable sales managers to complete these stages in a minimal timeframe. However, the quoting and contract process still takes up to 40% of the total time for closing a single deal. It is a time-consuming process because it involves working with customers. Is there a Q2C solution that would automate quoting, contract generation, negotiation and final approval?
Integrate a Document Generation and e-Signature Solution with Your CRM to Speed Up the Contract Process
There is a great way to generate contracts, co-edit and complete them online, collect electronic signatures and update your CRM’s customer records without leaving your dashboard.
Document generation and e-signature solutions, designed specifically for your CRM, enable you to streamline and speed up the quoting and contract process stages. From generating contracts and order forms, co-working and completing them online, to collecting customer e-signatures, all from your CRM dashboard.
What Are the Benefits of Using a Document Generation and e-Signature Solution for Your CRM?
Using a reliable document management solution, sales managers and eCommerce business owners close contract related tasks almost twice as fast:
- Time and effort economy: Close deals and update your customer records without any assistance.
- Reduced downtime in the sales cycle: Speed up the contract process. Create documents and complete them from any internet connected device.
- Flexible adjustment to customer specific needs via customization: Collaborate on and edit documents in real time from anywhere.
- Lower cost of operations: Close deals with minimal monetary and resource investment.
According to a PwC report, optimizing your Q2C processes can result in a time reduction of up to 30-60% in the sales cycle, a 10-15% increase in total revenue and a 20-40% reduction of time in the order processing cycle.
Generate contracts and order forms, redact and update them online, collect electronic signatures and update customer records in your CRM, all within your dashboard.