Streamline your order to cash cycle at every stage, from sales opportunity to financial consolidation
As companies grow and their organisational structure becomes more complex, there’s a risk that business processes may become detached from one another. This can cause management to lose their overview on the customer journey and result in serious ramifications for the end-to-end business cycle.
Implementing Quote to Cash software can streamline this process, enabling an organisation to govern the end-to-end life cycle of how a customer is engaged with during the sales process, right through to the consolidation of accounts & the recognition of revenue related to sales. By linking the sales cycle process to the overall corporate strategy, businesses can prevent revenue leakage and provide a solid, agile foundation for future growth.
In short, Quote to Cash allows you to make money & save money, simultaneously.
Is Quote to Cash right for my business?
If your business is transactional, you can benefit from quote to cash!
Quote to cash software is suited for any organisation that is in a transactional environment, regardless of size or industry segment. From our 10+ years industry experience as Salesforce Master Navigator CPQ Partner’s (Salesforce’s Quote to Cash solution), we’ve found that the following organisations benefit the most by automating their quote to cash cycle:
- Enterprises engaging in a digital transformation, that wish to streamline their processes to better serve customers.
- Companies that have a complex product mix, where a typical quotation will encompass numerous products and services.
- Any organisation that manages subscriptions and subscription renewals with swaps and amendments (e.g. SaaS).
- Companies where a number of key processes are still handled manually.
- Companies that have a myriad of different back-end systems that are not connected/streamlined.
How can Quote to Cash help unleash our business potential?
Quote to cash is a cross-functional scalable methodology that affects multiple departments inside an organisation. During implementation, the decisions made have consequences all across the board: from order fulfillment to revenue recognition, inventory management, management reporting & quote templates. Therefore, it is mandatory that all stakeholders and departments get involved from the start to ensure the entire quote to cash process flow is governed by the same principles.
By creating one single source of truth for the company, the quote to cash cycle can eliminate loopholes in the sales process and allow employees to focus on their core task by offering them an efficient sales system.
Businesses can then reap the financial benefits too, through cross-selling, upselling, uplifts, renewals and faster revenue intake. Thanks to a considerable reduction in errors made, Salespeople are able to accelerate the sales cycle by delivering accurate information to customers quickly, minimising order & invoicing errors, improving data anlysis and forecasting efforts.
Why Wipro is your preferred partner for Quote to Cash
It’s no surprise that investment in a Quote to Cash process has the ability to transform customer experience, improve internal processes and increase your bottom line. But knowing where to start is the hardest part.
At Wipro, we offer a broad portfolio of services, from advisory to implementation, acting as a one-stop-shop for Quote to Cash. As the biggest Platinum Salesforce Partner in EMEA, we have direct access to Salesforce and can leverage the best of their Quote to Cash soltuion, Salesforce CPQ.
Our Quote to Cash consultants help with end-to-end readiness around programme roadmaps, processes and change management, speaking the same language as the stakeholders in your locations and departments. Here’s our proven quote to cash best practices:
Determine your readiness
QTC programmes are most successful when the entire organisation is ready for a programme that transforms business processes and marries these processes with technology. The best way to tackle this is with an organisational readiness assessment.Read our readiness eBook
Planning for your implementation
Before the implementation kicks off, we will review all processes and eliminate unecessary steps, divide the programme into different phases and ensure all existing data is correct before migrating.Explore our implementation guide
Executing your project
However invasive a QTC solution is, we will work with you to ensure you’re QTC programme has no impact at all on the relationship with your customers whilst simultaneously communicating changes to key stakeholders.Read our case study
Ensuring success and driving adoption
As your QTC consulting partner, we’ll become an extension of your team, helping facilitate conversations and driving adoption with members of your team.Talk to our experts
Frequently Asked Questions about Quote-to-Cash
What is Quote to Cash?
Quote to cash is an umbrella term for the commercial processes of a company. QTC tackles the whole business cycle from the moment a prospect turns into an opportunity up to the moment a sale has been closed, products or services have been delivered, payment for these products or services has been received and the revenue is recognised. Every department has their say in the programme. This requires tight programme management and buy-in from executive sponsors. QTC helps create a single platform where all customer data can be collected, processed and updated in real time to help accelerate the sales cycle whilst minimising error risk.
What is Salesforce CPQ?
Salesforce CPQ (Configure, Price, Quote ) is a sales execution platform for companies to provide accurate quotes/contracts/order forms by pricing any given product configuration scenario. The entire purpose of Salesforce CPQ is to reduce complexity for your sales reps, allowing them to quote faster and more accurately. For even more information about Salesforce CPQ and to determine if it is the right quote to cash solution for your business, explore our CPQ guide.
What is the best quote to cash software?
There are a variety of quote to cash software solutions, from Salesforce CPQ to Zuora or Apptus. Why not check out our hints & tips blog where we answer all burning questions about Quote to Cash. That way, you can chose the best quote to cash solution that is right for you and your business.
Want to know more?
Find out how Wipro can help you make money and save money with Quote to Cash.
Being able to manage the customer revenue cycle in one system through QTC brings organisations a number of benefits. Check out our top transformational tips.
Knowing where to start when it comes to a CPQ implementation is the hardest part. Our CPQ implementation guide is here to help you navigate your way through this process.
Discover how Wipro partnered with SmartFocus to help them on their digital transformation joureny and how Salesforce CPQ has transformed how they manage their billing and revenue recognition.