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Quote-to-Cash: A Tale of Two Companies

Quote-to-Cash: A Tale of Two Companies

Are all members of your accounting and finance teams on the same page? How about your finance, project management, and sales teams? In today’s faster-than-ever pace of business, getting a message from point A to point B in a timely manner could be the difference between a satisfied customer and a lost sale.

Quote-to-Cash: A Tale of Two Companies

We would like to share with you two examples of the quote-to-cash process, comparing company A, who relies on disparate systems, and Company B, who has recognized the value of integration and has simplified the quote-to-cash process, making life easier for both sales and finance.

Company A: A Patchwork of Entry-Level Applications and Spreadsheets

Company A is a technology company who offers hardware and software implementation. This company uses a patchwork of limited-effectiveness software, spreadsheets, and emails to manage the process of going from quote to sales order to invoice to cash, the sales, project, and financial managers have to work together in order to process even a simple order.

In this example, Company A is completing an implementation process, requiring five steps, likely requiring an email between each, in order to go from quote to fulfilment to invoice to cash.

  • Step 1: Sales Enters Quote in CRM
  • Step 2: Sales Operations Keys Order into Finance System
  • Step 3: Services Re-Keys Order into the PSA System

From here, it is time for fulfillment.

  • Step 4: Project Manager uses spreadsheet to ensure resources are available and project can be completed, checking the implementation resources schedule.
  • Step 5: Finance re-enters time and expense information to book, order, submit invoice, and recognize revenue.

Not only does this consist of five disparate steps, each of these steps poses an opportunity for something to go wrong. One missed decimal, an incorrect customer account number, an incorrect invoice number, or so many other things that can and will go wrong.

With all the entry, re-keying, the manual tracking of data, the lack of controls, and the possibility for errors, there is a lot of waste and risk with little to no reward. This, in turn, means the following impact on the business:

  • Lost Revenue/Lost Opportunities
  • Auditing Issues
  • Extended Days Sales Outstanding
  • Customer Dissatisfaction

Company B: Integrated, Automated, and Ready

Compare this with Company B, who has found balance and simplified the quote-to-cash process, removing the additional entries, allowed sales teams to focus on selling, not paperwork, and improving customer satisfaction through faster, more efficient service.

  • Step 1: Quote entered in Salesforce with items and request for implementation resources.
  • Step 2: Quote flows automatically from Salesforce to operations for approval.
  • Step 3: Services VP reviews contract and approves.
  • Step 4: Approved order, time and expense, customer invoiced, and revenue recognized.
  • Step 5: Project Manager secures implementation resources.

All of this done automatically. No data re-entry/rekeying, integrated rules and controls, automated revenue recognition, billing, and order processing, and high accuracy.

In turn, this company can:

  • Enhance sales effectiveness
  • Have audit-ready data
  • Solidify cash flow
  • Improve customer satisfaction
  • Better utilize resources available

Be More Like Company B: Join us on July 19

For the past ten-plus years, Intacct and Salesforce have been building upon their relationship, starting with Order Management Integration in 2005, adding Multi-Entity Integration, Projects Integration, Single-Sign-On across SFDC, Intacct, and More, Intacct Collaborate, and now, Subscription Billing Simplicity. All of these combined make the two best-in-class (and top of the class) cloud applications so tightly knit, that you have a “better suite.”

Join us on July 19, 2016 at 1:00 PM EDT for Secrets to a Complete Quote-to-Cash Process with Salesforce and Intacct Integration, in which a panel of experts will share with you the benefits of aligning sales and finance, introduce you to the Intacct Collaborate platform, which will help not only bring closer finance and sales, but finance and communication, finance and legal, and much more. Learn more about the event here.


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