This leaves salespeople to rely on their best judgment to deliver customer quotes in a timely manner, and often results in inconsistencies and errors.Īutomated QTC software takes the guesswork out of configuration for salespeople. Since records are often input manually, there can be multiple entries for a specific product with conflicting information. In outdated, manual configuration processes, sales reps have to comb through spreadsheets and product databases one by one to find the information they need. It’s a crucial phase of the process because any inconsistencies that make their way into the quote at this early stage can be costly down the line. It kicks off with configuration, which is when a salesperson takes the first action toward building a quote for a client. The earliest stage of the QTC process is broken down as Configure, Price, Quote (CPQ). Although this action denotes that a sale has closed and revenue can be recorded, the sales process itself is not complete until the cash has been applied and the entire cycle can be reported and analyzed. It’s important to distinguish this endpoint from the moment when many people assume the sales process is over: the moment the customer agrees to place an order. The QTC process then spans all the way until the cash for the sale in question has been collected and allocated, and the data for all points of the process has been analyzed and used to enhance performance. While there are often some sales activities that occur along with marketing functions even earlier in the buying funnel-cold calling, prospecting, inbound sales activities, and so forth-the opportunity to deliver a quote is generally seen as the first measurable, concrete QTC function. Typically, configuring offers for a prospect is listed as the first true step of the QTC process. The quote-to-cash process covers the end-to-end functions related to sales activity for your organization.
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