For some, the term quote-to-cash or CPQ software can be a little confusing, but it’s just what it sounds like. It’s a software solution that helps you turn the quote you give a customer into cash. How does it do that? By instantly configuring a quote based on a plethora of data which may include customer history (if applicable), your own inventory and even your competitor’s and industry’s information. All this information is then detailed in an easy to read format. Ultimately, your sales team member can share this quote with the customer, offering a truly transparent experience that helps build trust and a long-lasting relationship.
Absolutely anyone and any business that makes sales can benefit from sales quote software. However, as businesses grow, increase inventory, open new locations, or simply increase their profits, the need for such software becomes more and more important. It’s common for businesses to wait too long before implementing Q2C software, which then leads to a lot of retro-active work.
If you’re thinking about such a solution, your business could probably benefit from it immediately. Still on the fence? Here are a few types of people and businesses Q2C was designed for:
- The small business. There’s a plethora of overwhelming statistics about small businesses, including the fact that most fail, and it’s very common to be working at a deficit. What makes the difference between those that succeed and those that fail? The tools you use (or don’t) can play a major role. If your sales team doesn’t have the best technology to give customers fast, accurate, and competitive quotes, those customers will happily go elsewhere.
- The startup. Startups and small businesses have a lot in common, and sometimes they’re one and the same. However, many times startups have some unique factors such as focusing on a very niche industry, often not having a brick and mortar establishment, and startups have an even higher failure rate. Like small businesses, getting the right tools early in the startup phase is a must to increase odds for success.
- The enterprise. On the other end of the spectrum is the enterprise. Pockets are often deep with these companies, but that doesn’t mean funds are being spent wisely. Enterprises are usually very well-established and cling to the so-called solution they may have adopted years ago under poor guidance. There might also be a lot of red tape to cut through in order to make a change to software solutions, but it can be very worth it. Enterprises, just like any business, require consistent growth and profits.
- The freelancer. If you’re in sales, whether you’re a corporation or a one-person show, you need to be competitive. Maybe you’re a sole proprietor, contractor, or master of the gig economy. Whatever you’re selling needs to be more attractive to customers than what the competition is dishing up—and competition in this realm is fierce. It takes a lot of nerve, time, and endless effort to find success in this position, and you need all the help you can get. You can bet that if you’re not giving customers the best quotes, someone else is and they’re also enjoying the cash that goes with it.
- The fast-growing mid-sized company. When you went from a small- to a mid-sized business, it might have been based on an increase in your inventory, addition of more locations, or otherwise a growth spurt that treated your business well. However, in order to maintain that growth, it’s important to implement upgraded software solutions pronto. Otherwise, it will become clear just how overwhelming this new designation can be, and other mid-sized companies will happily poach your customers.
Anyone who’s making sales can take advantage of the perks of quote-to-cash software. There are options to personalize the software for nearly any budget or business size, and the right software solutions integrate easily into your current favorite software. It’s a seamless addition that can give you and your business serious leverage.