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The 10 Steps of Quote to Cash

Also known as… QTC or Q2C

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GET SMARTER AT PRICINGBlackCurve helps businesses fine tune their pricing

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The 10 Steps of QTC

In a nutshell… it’s the process of generating, collecting, and managing revenue, which should be the central focus for every industry and line of business.

Product or Service

Configuration

Issuing the Quote

Creating the ContractPricing Negotiating

the Contract

Contract Execution

Revenue Management InvoicingRenewals Fulfilling an

Order

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Identify the right combination of goods and services to recommend to the customer is the first step on the road to closing a deal. If you have heard of the

term CPQ or Configure Price Quote, this forms the 'C' of that terminology.

1. Product or Service Configuration

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Pricing can often be complicated, but when using QTC, 'pricing' refers to the set of rules that dictate how sales can price a deal and what incentives can be

offered without cutting into margins. Using pricing software to support your price management is an important step towards profit maximization.

2. Pricing

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Quotes are often the first impression you leave on your customer. There is normally an understanding that the quote does not constitute a final offer from the supplier or vendor to a potential client – it serves the purpose of providing

the basis for ongoing dialogue. A good quote system gives you an opportunity to make a strong brand impression and demonstrate your commitment to the customer. However, you must get it right. Speed and accuracy are key and

quotes also require a proper review process - available with QTC.

3. Issuing the Quote

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All deals end with an agreement that includes a set of terms and conditions that require effective contract management to prevent the risk of impacting your

revenue stream.

4. Creating the Contract

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Once negotiations have started it's critical to get your legal department to quickly intercede if something is added or removed that will negatively impact on

the profitability of the deal.

5. Negotiating the Contract

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Signing and finalising the deal. E-signature tools can provide a faster, more automated way to close deals.

6. Contract Execution

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The order is received, processed and delivered. A QTC solution will provide ongoing visibility at each stage.

7. Fulfilling an Order

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Final charges are calculated and an invoice is sent to the customer. The billing schedule determines cash flow so if you aren't punctually billing customers, funds

will suffer. With QTC, billing is easy – it's a smooth, streamlined process when everything captured in the quote and contract is efficiently passed on to

Accounts. Billing and renewal information is automatic.

8. Invoicing

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This covers not only recognising that the cash has been received, but also ensures the correct contract terms, like pricing, net payment terms and delivery

schedules have been met to accurately manage cash flow.

9. Revenue Management

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Managing customer retention and recurring revenue. QTC is an on-going process, exposing tremendous revenue potential from up-selling and cross-selling. Staying

on top of contract renewals and customer buying history will shorten renewal cycle times, increase renewal deal size and reduce churn.

10. Renewals

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The ROI of QTC

Still not convinced of the potential of Quote-to-Cash in your business? According to the Aberdeen Group, Quote-to-Cash packs a significant punch giving the businesses interviewed the following Return-on-Investment:

105% larger deal sizes

49% higher proposal volume

28% shorter sales cycle

26% more sales representatives meeting their targets

17% higher conversation rate

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PRICE MANAGEMENT AND CONFIGURE PRICE QUOTE (CPQ) SOFTWARE

Perfect for businesses who are over reliant on spread sheets to manage their pricing. Perfect for companies wishing to reap the rewards from more advanced pricing strategies to grow their profitability. Perfect for organisations seeking to

optimise their prices.

Meet BlackCurve

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PRICE MANAGEMENT &OPTIMISATION

An easy to use solution to implement and fine tune

your pricing.

CONFIGURE PRICE QUOTE (CPQ)

A quoting system for complex products, pricing or

channels.

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www.blackcurve.com

@blackcurveHQ

blog.blackcurve.com

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STATEMENT OF CONFIDENTIALITY AND LIMITATION

This document is proprietary to BlackCurve Solutions Limited and is subject to management approval.

Legal & Confidentiality

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