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What Is Quote to Cash software and What Are The Benefits?
What Is Quote to Cash software and What Are The Benefits?
What Is Quote to Cash software and What Are The Benefits?
What Is Quote to Cash software and What Are The Benefits?
What Is Quote to Cash software and What Are The Benefits?
What Is Quote to Cash software and What Are The Benefits?

What Is Quote to Cash software and What Are The Benefits?

As sales processes become more complex these days, the sales cycle grows longer with representatives spending 35 percent less in actively selling. This elongation in process not only leads to lesser selling and less revenue generation, but also affects the morale of your sales team. 

One quick and efficient way to leverage this crisis is by using quote-to-cash software. This particular software is built to make life easier for creating quotes and eliminating unnecessary steps. 

So, what is a quote-to-cash software?

Excited to know what this new technology is all about? As the name suggests, it’s a quoting tool, or a software used by the sales teams to build custom quotes. 

And this isn’t any new software!

With this software in place, the receiving party can not only accept the quote but pay (in full, deposit, or installments) from the provided quote. And so you may have already analyzed that this software saves time and makes the process smoother for the sales teams and the prospects. 

Why is a quote-to-cash software important to the sales teams?

Sales teams and leaders are today undergoing changes to make their process simpler and smoother, to maximize productivity, efficiency, and revenue potential. And in this approach comes a quoting software as an advantage to create a successful sales ops strategy. 

Here’s why,

  1. Quoting software minimizes the human errors - Instead of creating quotes for every proposal from scratch using excel sheets, catalog and client facing documents, your sales teams can create quotes easily using quoting tools within minutes. Some quoting software are also enabled with a built-in approval process so that the quote doesn’t go out of the software and can be easily seen and signed, adding additional safety. 

  1. Right quoting tools will boost sales productivity while addressing inefficiencies - Wouldn’t it be great if your sales team can close deals quicker and generate revenue faster? Of course, that’s what every business owner wants! With a quoting software, your sales teams can close deals in less time because quotes will be easier to build. yakkadraft's features include a fully customizable catalog, content library, quote templates, and pricing tables. Your sales person half to spend half the amount of time in preparing and tracking quotes, and thus focus more on selling, which is a good thing. 

  1. Quoting software will get the quotes faster to your prospects - No doubt that the quoting tools will be more responsive in closing deals. The faster you send the quotes, the sooner you can follow up with your prospects, and close deals. The lesser is the time to leave doors open, the sooner you can convert when compared to your competitors. 

  1. Faster quotes = shorter sales cycle - Now that you can send quotes sooner with quoting tools, you can shorten your sales cycle, too. You can eliminate the back-and-forth struggle with paperwork and order forms. As soon as the prospect receives the quote, if agreed upon, they can make payments instantly and close deals faster, thus shortening your sales cycle. 

  1. 1:1 ratio between SQLs and opportunities created - Wondering what’s SQL? It stands for Sales Qualified Leads. 

With a quoting tool in place, you can create a massive lift in the ratio of SQLs and opportunities created. Depending on your sales process, you can create a 1:1 ratio so that when a sales qualified lead requests for a quote, they are automatically moved to the opportunity created stage. 

The revenue amount associated with the deal automatically gets noticed by the tool and helps your team and experts to gauge the pipeline better. 

These are just a few advantages of using quoting tools, but there are plenty of obvious benefits your sales teams can enjoy with quote-to-cash tools. And automation is always better than using standard excel spreadsheets for pricing tables or product catalogs to close deals faster. 

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