The central focus of a business is to generate, collect and manage revenue. Out of the several ways in doing so, Quote-to-cash(QTC) is the efficient one which helps increase the revenue for your organization and streamline the processes. When you say QTC, you are talking about the combination of sales, contract and customer relationship lifecycle, streamlined to make things easy and efficient for your organization. QTC solution is gaining attention with advancements in technology and growing consumer needs. Here we will discuss at length the future of Quote to Cash platforms.
Transition to the cloud made Quote to Cash platforms very effective, as the entire process will have a smooth flow. Employees who are working in the remote environment can access the sales processes or the contract procedures on-the-go with their mobile apps. There will be an Omnichannel presence for various solutions. The productivity eventually increases and the customer value offered is also good. The future is definitely going to the cloud.
Use of contract lifecycle management
The entire process that helps manage the contract process is known as the contract lifecycle management(CLM). Contracts are important to know how the companies need to conduct with each other. For contracting to be efficient, as it is an important element of your Quote to Cash process, you need to implement contract lifecycle management solutions for your organization. You might want to look for technology solutions that can efficiently manage your contracting needs, and also incorporate solutions that are customized to match needs. With able contract lifecycle management, you can accelerate QTC process, thus ringing in efficiency to your sales. Make sure the CLM solutions are omnichannel and can be accessed across devices and platforms.
When you are dealing with processes that might enhance your user’s experience, you need to ensure they are combined with latest technologies. If you want to give out an interactive UI for your QTC solution, you might want to use technologies such as Angular JS. This will improve the overall experience, and give out the class experience your audience requires.
Intelligence for Insights
When you are working through your sales processes, some historical data will always help in building the right insights. Advance technologies include predictive and descriptive intelligence that help in knowing what your customer needs. It will also help in knowing what approach best suits in completing the QTC process and achieve complete success. You would know the CLM needs for the organization as well as the CRM needs. These insights will help in increasing efficiency and accelerate processes.
There are several tasks within the QTC process that are manual and repetitive in nature like contract creation, execution, and billing. You might spend a lot of time on just getting them done, thus reducing the overall efficiency of your business. To make sure you are ready to convert faster and easier, you need to incorporate bots in your QTC. This will help automate the manual solutions and eventually increase the productivity of your sales team. The repetitive tasks are taken care of by the bots, and your team can focus their efforts on what’s important
It is time, your organization adopts the new and emerging technologies and makes complete use of them to maximize your opportunities. You will need to automate variety of solutions to attract the right prospects and convert them at the earliest.
At Standav, We create and delivers business and technology solutions focused on the CRM and Quote-to-Cash space that fit customer needs to drive the results they want.Our solutions help customers improve sales effectiveness and scale quickly