Quote to Cash Process Automation

It is fair to say quote to cash (QTC) process is the foundation of the sales cycle of any business. If your QTC process runs smoothly, then your acquisition rate stays maintained. In the subscription business market, it has always been a challenge for companies to maintain a balance in the customer acquisition and churn rate.

See, every retailer in the market knows this customer churn cannot be avoided completely. However, your business strategies, their implementation, and the tech stack decide whether you succeed in creating a balance between churn and acquisition rate or not.

Quote to cash automation can help you streamline sales in a way that you will be stress-free from at least the acquisition side. This blog is going to be a helping guide for all those retailers in the subscription business market who are facing disruptions in their quote to cash process.

So, if it is taking too long to generate leads, if there are consistent discrepancies in the quoted price and final invoice, or if you are somehow missing on sales opportunities, then in this article, we are going to find a panacea to all these issues regarding quote to cash process.

Also Read: Optimize Quote Management for Enterprises & Lock Maximum Subscription Business Deals

Identifying the Broken Quote to Cash Process

When you need to fix something, it is important to start with identifying the damage or the breakage. Coming towards the issues that cause the failure of your QTC process, it is a process in which there are various points where you can make any mistake that can lead to the disruption of the entire quote-to-cash process.

Usually, there are used automated platforms to generate quotes and run the entire QTC process. However, if you do not have any software for quote to cash process automation, then the first issue with your QTC process is the lack of automation. Why?

The automated platforms provide users templates for quotes so that there remain no issues in the placement of all entries.
Automated QTC platforms also enable you to make changes in the quote if it is not being accepted for the first time.
There remains no chance of typos, inaccurate info, or mismatched approvals when you have opted for an automated QTC process.
Also, one needs to go through discounts, coupons, add-ons etc. to offer an acceptable price in the quote. If it is done manually, the chances of mistakes are high.

You see when QTC is managed manually, there are many points where you can make a mistake and ruin the flow of the quote-to-cash process. Look at all these points to find the break in your quote to cash process.

Order fulfilment delays, numerous price or billing mistakes, a rise in customer complaints, and a reliance on manual remedies are common signs of QTC process disruptions. These problems may result in lost sales opportunities, increased operating costs, and income leakage, which will ultimately have an impact on client happiness and general business effectiveness.

Craft a Winning QTC Process

If you are looking for a workable recipe for the quote to cash process, then the first ingredient is the SubscriptionFlow platform. Though it is a subscription management platform, it offers quotes to cash processing as well. Even if your quote does not get accepted for the first time, you can amend and resend it to the targeted customer. Other than that it automates the QTC process effectively.

Also Read: Quote to Cash Vs Order to Cash: Unraveling the Sales Cycle for Business Growth

Quote to Cash Process in SubscriptionFlow

When you opt for SubscriptionFlow, the quote to cash process will run in the following steps:

With SubscriptionFlow, you can create effective quotes. The System will get all the information that you need to enter in the quote.
Thereafter, the quote is sent to the targeted customer.
If quotes are accepted for the first time, everything is good to go. Your core sales cycle activities start.
However, in many cases, quotes are not accepted for the first time. If the quote is not accepted, then SubscriptionFlow will help you amend the quote (elaborate your pricing plans, mention add-ons, financial policies etc.) and resend it.
SubscriptionFlow integrates with DocuSign, AdobeSign, and HelloSign to help users lock deals really quickly and securely.
Now, the sales cycle starts!
Other than e-signature applications, SubscriptionFlow integrates with various other applications and software that your business might need for smooth processing of the business.
SubscriptionFlow also offers integration with the top payment gateways so that your sales cycle ends with revenue recognition.

Now, we want you to see how smoothly the QTC process runs in SubscriptionFlow. It helps users not only streamline QTC but also the sales cycle as QTC has become the cornerstone of the sales cycle. If there are any discrepancies in the customer acquisition rate or even the retention rate, then the cause might be in the QTC process.

To identify and mitigate any issues in your QTC process, you need to adopt SubscriptionFlow. Contact us now to automate quote to cash process.