Armanino Blog
Article

Can't Get No Satisfaction From Sales and Finance Because of Your Q2C Process?

by AJ Iovino
September 12, 2019

It's a familiar story – your sales and finance team members feel overburdened by the manual steps they must take to sell your products and record revenue. Quote-to-cash (Q2C) describes this cycle of taking orders and procuring revenue for your company. At a high level, the process encompasses order management, billing and payment, and sales fulfillment.

At most organizations, Q2C is mission-critical, but is also extremely manual and error-prone. You can improve employee morale while maximizing profits by streamlining your Q2C processes and getting rid of frustrating data entry tasks.

According to Salesforce, there are eight distinct steps to complete the Q2C process for one transaction:

  1. Order management
  2. Credit management
  3. Order fulfillment
  4. Order shipping
  5. Customer invoicing
  6. Accounts receivable
  7. Payment collections
  8. Reporting and data management

That's a lot of time spent on manual tasks. When you integrate your customer relationship management (CRM) system with your enterprise resource management (ERP) software, you get immediate streamlining benefits by migrating key data between the two systems. The integration automates the migration of customers, items, orders, invoices and payments.

This eliminates manual data re-entry and empowers sales representatives to manage the operational bundling for each invoice. It also frees up your finance staff to focus on high-value strategic work by eliminating the need for manual file transfer, allowing your team to prevent avoidable mistakes and maximize productivity. The benefits also include data consistency and the ability to provide a summarized, automated quote to the customer.

Where to Start

Ready to process reengineer your Q2C and improve your cash flow? Get started by:

  • Documenting your current processes by interviewing sales representatives, sales operations, order fulfillment and finance team members
  • Determining quick wins and a long-term plan for integrating your ERP and CRM systems
  • Ensuring your new process is compliant with ASC 606 revenue recognition guidelines and documenting it with an accounting memo

Your finance and sales teams will thank you...

Our quote-to-cash experts can help you assess, plan and execute process re-engineering to ensure you minimize errors and maximize profits. Reach out if you'd like to learn more about optimizing your journey and our integration solutions.

Stay In Touch

Sign up to stay up-to-date with the latest accounting regulations, best practices, industry news and technology insights to run your business.

Authors
AJ Iovino - Consulting | Armanino
Director
Resources
Related News & Insights
Costco Travel Webinar
Webinar
One of the world’s top retailers reveals their cloud upgrade process.

May 19, 2022 | 11:00 AM - 11:30 AM PT
Overview of Sage Intacct R2 Release Webinar
Webinar
Learn the newest features and enhancements in Sage Intacct from the 2022 Release 2.

May 18, 2022 | 01:00 PM - 02:00 PM PT
Foundation Cuts Manual Data Entry, Empowers Staff With Robotic Process Automation
Case Study
RPA tech enables lasting growth, boosts savings and frees up staff to redirect their time to meaningful strategies.

May 18, 2022