Sell, sell, sell, that’s the nature of the game. Sales executives need to meet new prospects, prepare more quotes, and close more deals. While there are a lot of opportunities to improve sales, many businesses overlook the nuances of the quote-to-cash process. A streamlined quote-to-cash process can lead to higher sales productivity, consistent sales methodologies, and lower overhead and increase revenue.
The standard quote-to-cash process involves the time and activities between peaking a potential buyer’s interest and the realization of revenue. The idea is to spend less time on the process so that you have more time to meet and greet customers to improve the volume of sales opportunities and the resulting revenue. One way to save time in the quote-to-cash process is to use available technology, such as Microsoft Dynamics® CRM. This popular customer relationship management (CRM) software solution offers several time-saving features including the ability to streamline the quote process.
With Microsoft Dynamics CRM, you can use a variety of template proposals that contain your customary terms and conditions, legal jargon, and the various rate structures for the products and services you offer. Getting all of your fine-print details into the basic documents will ensure consistency with all out-going quotes, as well as save time from having to get proposals approved through the legal department and multiple managers. Once your proposal goes out, you can use the automatic notification features to remind you, or colleagues, to follow up with a phone call or send out more materials. Instead of waiting around for a phone call from a prospect, you can make sure that your team is contacting them.
Microsoft Dynamics CRM makes it possible to monitor metrics such as sales cycle time, your win rate, number of opportunities per sales cycle, and other data. Once you have measureable data, you can develop strategic plans to make improvements to boost revenue velocity. You can also identify trends with repeat customers – learning what they are buying and when they need replenishing. Learning customer buying habits will make it easier to up-sell and cross-sell with products that are similar or complementary to the ones they already purchase. You may also identify trends in popular products, which can make it easier to sell those items with new customers.
The more sales opportunities you have, the more opportunity you have to generate revenue. Save valuable time between attracting a prospect and closing the deal so you can reach out to more customers. Contact MIBAR.net for more information about how Microsoft Dynamics CRM can streamline the quote-to-cash process.
By MIBAR.net, Long Island, New York, Microsoft Dynamics CRM and ERP Partner (http://www.mibar.net/)
How to Streamline Quote-to-Cash Processes is a post from:
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