All you need to know about Quote to Cash
Every business goes through a sales cycle that converts a prospect to a customer. This sales cycle is complicated if you don’t streamline your business processes. Starting from quoting to billing, your sales team does a lot of back and forth to provide the right support to the customer throughout the whole cycle. When you have hundreds or thousands of leads to respond in a single day, it’s become overwhelming for the sales team to manage consistently.
In such overwhelming situations, QTC rescues your business from all complicacies!
What is Quote to Cash?
Quote-to-cash (QTC) is a breakthrough in the traditional sales cycle. It is a sales optimization process that integrates and automates various business processes in the sales cycle, including product/service configuration, quote creation, pricing, contracting, ordering, billing, etc.
Quote to Cash for Healthcare
Our custom QTC implementation for the MedTech industry enables pharmaceuticals, biotechnology, equipment, distribution, and facilities to optimize their sales cycles. In detail, we help them to integrate incentives, pricing, and contract compliance with the industry’s best practices. Additionally, we offer integrated tools for real-time price management, discount and incentive strategies, complicated contract commitments, and analytics. The manufacturers can adjust to the changing behavior of the customers with a single pricing source. Along with such integrated pricing sources, sturdy workflows, and analytics, we help the MedTech industry avoid price and revenue leakage.
How can QTC help the healthcare industry?
- Quotes the correct price with the latest hospital and IDN available pricing information, deal margin, and compliance performance.
- Enhances the deal value with intuitive upsells/cross-sells on all transactions.
- Quotes and creates proposals, including capital agreements with relevant products/services, and other value-added offerings.
- Auto approves quotes with the price floor controls and builds Quote-to-Contract automatically after the quote approval.
According to Salesforce, the top areas of revenue leakage in the healthcare industry are:
- Pricing quotes out of guideline
- Offering volume discounts without a volume order
- Delivering contract pricing without a contact
On average, with the right implementation of Salesforce QTC, users see:
- 44% reduction in pricing errors
- 41% faster quote generation
- 25% faster sales cycles
- 29% increase in forecast accuracy
- 29% enhance in quote-to-order conversion
- 32% decrease in quote approval time
Why implement QTC with CommerceCX?
At CommerceCX, we help businesses to implement Quote-to-Cash as per customer requirements. Whether you are from the healthcare or manufacturing industry, we have a certified Salesforce team to create custom solutions to integrate your CRMs or ERPs with Salesforce QTC to streamline and automate your sales cycle. We help you enhance customer experience (CX) in every stage of your sales cycle and synchronize your finance and sales dept for easy handoff. Further, you can avoid revenue leakage and predict revenue with intelligent analytics and accurate cash flow with custom QTC implementation.
Get in touch with us to enhance customer experience with our custom QTC implementation.
About CommerceCX: CommerceCX is a global consulting, design, and development firm. We provide organizations with the solutions and services that support the transformation of a commerce ecosystem. We specialize in CRM, Quote-to-Cash, Lead to Cash, and have strong Salesforce, Apttus, and Microsoft Technologies expertise. Leveraging our solutions, organizations can connect technology, data, and insights to unify and enhance the buying, selling, and service experience that powers the commerce ecosystem.