Hello all!
Hope your lives are going well!
While reading in my spare time, I discovered a Medium post about someone who, during unemployment, wrote daily on LinkedIn for 100 days. Inspired by their journey, I’m taking on the same challenge, even though writing is not my natural strength. There is something valuable about checking in every day to stay engaged and connected. My true passion lies in creating streamlined processes with technology, allowing businesses to enhance customer relationships and improve their offerings.
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Running a business without a handbook can be quite an adventure! While some companies have nailed their secret sauce, even giants like Amazon constantly tweak their winning formula to stay ahead. Remember Sears & Roebuck, Blockbuster, and Mervyn’s? They found success but struggled to keep up. I help organizations stay competitive by streamlining their processes, allowing them to focus on their core strengths and adapt to market changes effectively.
Every company has to track its finances to show how the money in the bank was earned. But when the balance suddenly dips, what do you do? Lose sleep? Absolutely! Look for a better approach? Definitely a good idea. Streamlining processes with technology helps monitor business success, enabling you to adjust when things do not go as planned and repeat what works, all while keeping up with market trends.
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I hope you will join me on this journey. This post will put a personal touch on the articles with the embedded LinkedIn version so you can get educated on all the in’s and out’s of the QTC process.
Introduction to Quote to Cash (QTC)
Every journey starts with that all-important first step. My professional focus has always been improving how things are done, and, as you would expect, the revenue process often takes center stage—and rightly so. While technology can enhance the sales process, it’s really about having the right people to build strong customer relationships and keeping them well-trained in their roles. So, when a prospect shifts from interest to commitment, what steps do you take next? This is the Quote to Cash process. Read more here:
Understanding the QTC Process Lifecycle
Regardless of the tools used, from 3×5 cards from 30 years ago to today’s cutting-edge digital solutions, the process remains fundamentally the same. The proverbial handshake is merely the first step in ensuring both parties uphold their commitments. Nowadays, the deal needs to be in writing to avoid misunderstandings, and both sides must fulfill their obligations. Deliveries extend beyond trucks, and payments are rarely made in cash. Understanding the Quote-to-Cash process means appreciating how each stage—from agreement to delivery and final settlement—integrates seamlessly, ensuring all aspects align and contribute to the business relationship’s success. Read more from the LinkedIn post:
Key Stakeholders in QTC
Hello! Is anyone still awake, or have I put everyone to sleep? I know this is not the most riveting topic unless it is either your area of expertise or you are in need of some expertise. I do not expect this post to go viral, but for those ready to embrace something great, I hope it helps you move forward.
Is your current process full of miscommunication, errors, and missed opportunities? It’s important to connect with the people involved—those who are directly impacted by the decisions within this process and who could reshape how your organization is viewed by customers and the industry. Do not fear; everyone wants this transformation to succeed, and their involvement is crucial to ensure it does. (And yes, I’ve been watching a lot of Game of Thrones lately!)
Challenges in Traditional QTC Processes
Why should anyone care about transforming this process into something more efficient and trackable? If it is not broke, why fix it, right? But since you’re here, diving into this exciting topic, that might be beside the point. I’m here to assure you that your challenges matter, and there is a better way. But first, let’s pinpoint what we want to solve.
Benefits of Automating QTC
If you are working on a proposal to upgrade the QTC process, we can not provide the number to quantify—that is your territory—but I can certainly offer some compelling qualitative reasons to invest this process. The biggest one? The simpler it is to make money, the more you can repeat the process. After all, every company aims to maximize its revenue cycle. Here are a few more reasons to consider:
Whew! That was only the first 5 days! That was a lot of information to throw at you. To keep this page from becoming overwhelming, I think I’m only going to show 5 on a post. That will be a lot of posts, but that’s ok.
I would love to get your feedback! Tell me what you think, let me know of any questions you have or if you would like to talk further and I’ll see you on the next post.
