While quote-to-cash solutions are solving many of the needs of the modern day buyer and have been established as crucial to the revenue cycle, the self-service model of B2B e-commerce is not far behind, forcing companies to quickly enable their digital channels or risk falling behind.
Quote-to-cash (or the processes connecting a customer's intent to buy with a company’s realization of revenue, encompassing the entire sales, contract and customer relationship lifecycles) has become essential to modern day businesses. In today’s customer centric world, these solutions have gone a long way toward creating the optimal buying path.
By encompassing the entire revenue process, such solutions enable companies to gain a true understanding of their customers. Fully integrated quote-to-cash solutions ensure that the necessary information about a customer is communicated through the purchasing path; from one stage to the next, every touchpoint is enhanced with this deep understanding of the prospect.
Not only do business buyers expect to be understood, they also have come to expect speed. Often the team that wins the deal is the one that gets the quote or the contract out the fastest. Quote-to-cash solutions do just that. According to one impact study, such solutions see on average a 23 percent increase in time to quote, as well as 41 percent faster contract processing.
In today’s fast-paced business environment, speed can be the difference between deal won and deal lost. Quote-to-cash solutions have established themselves as vital to facilitating deal velocity.
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