Quote to Cash is a term that is used to describe a business process that covers product or service selection, pricing, quoting, contracting, invoicing, payment checking, and contract renewal.
It is typically achieved through the support of a software solution. While there are several different strategies used to identify each of the steps included in this end-to-end business process, most aspects of the approach are considered common elements in any supply chain management and customer management strategy.
In a nutshell, it's your business/livelihood we are talking about here. It’s the process of generating, collecting, and managing revenue, which should be the central focus for every industry and line of business.
A streamlined Quote-to-Cash process makes “closing deals” a highly effective and integrated process that can be managed - even across geographies - in the cloud.
According to the Aberdeen Group, Quote-to-Cash packs a significant punch giving the businesses interviewed the following Return-on-Investment:
Quote-to-Cash is the single link between top-line growth, bottom-line results and customer satisfaction.
No other process is as critical for maximizing the value of capturing revenue in a profitable way as well as meeting the needs of customer sales requests. QTC management reduces time spent managing contracts, shortens the sales cycle and increases revenue.
The process relies on the collective intelligence of the enterprise - the impact of accurate quotes, proposals, contracts and orders make the flow of all data and processes within an enterprise work smoothly, thus creating value for businesses, their partners and customers.
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