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.
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.
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.
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.