When you integrate your Quote-to-Cash process, you optimize the highly collaborative aspects of quoting, contracts, and revenue management, bringing visibility to everyone involved and accelerating sales cycles. As a result, you close a higher percentage of your deals, increase customer satisfaction, beat your competition, and most importantly, grow revenue.
Here are the 10 steps of Quote-to-Cash that take you from engaging a prospect through to managing renewals:
1. Configuration: An ideal combination of products and services is created
2. Pricing: Discounts, promotions and bundles are applied
3. Quoting: A quote is generated, approved and sent to the customer
4. Contract Creation: A contract or order form is created
5. Contract Negotiation: Contract terms and clauses are redlined and changed
6. Contract Execution: An approved contract is signed and the deal is finalized
7. Order Fulfillment: The order is received, processed and delivered
8. Billing: Easy to understand invoice details are calculated and delivered to the customer
9. Revenue Recognition: Align revenue to service delivery
10. Renew: Manage customer retention and recurring revenue
Starting today, we are releasing our Ultimate Guides to Quote-to-Cash with a new guide out each week. These guides, which cover quoting, contracting, revenue management and e-commerce, provide an in-depth look at how each process works and how they can be streamlined to maximize sales effectiveness and revenue.
The guides offer a crash course on the entire Quote-to-Cash cycle, which make them a perfect study kit for becoming Quote-to-Cash certified. More than 1,000 professionals have become certified through this free program. Check it out at certification.apttus.com.