Click for Quote (Automatic Sales Quotation) – Shorten Sales Cycle and increase conversion

Making a quote it is a very important event in the sales life cycle. it takes huge effort and cost to get leads interested in your product and he or she requests for a quote.

The quote makes a lasting impression about your company and your product and needs to be crisp, to the point. At the same time, it delivered quickly, incorporating all the possible discounts and promotions. Remember, once a lead becomes interested in buying a product, he or she needs to be converted quickly before he is poached by competition. In this digital economy, you need technology that could incorporate all the promotions, schemes and pricing variables and generate a quote at a click. This can shorten your quote-cash cycle by upto 30-40% and increase the quote conversion rate. From the time the lead requests the quote and to the time you send the precise quote, the lead is considered vulnerable to poaching by similar products, as his interest has been established. Keep this time as low as possible, possibly in real time.

All the manual, error prone price calculation processes and multi layer approval will go away once you have advanced Click-for-Quote Software.

Components of Click-for-Quote (Automatic Sales Quotation) software

Algorithm builder (Rule Engines) : This consists of one or more rule engines and other data massaging components. It is customary to have a system which provides standard templates which can be easily configured by the business. This will help you provide discounts based on SKU, volume, pricing plan, country, total value and multiple independent and dependent variables. It may sound very complex but it really is not that complex and the systems are designed in a way that business can use them. You can frequently update the rules and if required integrate algorithm the engines with your ERP and other backend systems. The the algorithm engines would have start and expiry date for a certain promotion or discount and you don’t have to worry as after that date that discount would automatically expire. Algorithm builder is the heart of any automatic sales quotation generator and needs to be powerful enough to handle all the scenario. Also the vendor must support you in building the algorithms that you need

Template: This is the second and very important & visible component of automatic sales quotation software. This is what the lead actually sees. The sales quotation must carry the logo and the branding of your company. It must be properly formatted and often an additional color needs to be added to make the quotation easily readable. You must ensure that that the software must provide user-friendly tools to convert your existing quotations into reusable templates and allow you to format using your well known tools such as Microsoft Word. The formatting is as important as the correctness of the quote, the customer would be put off seeing a badly formatted one. You should be able to make tables (or use an existing one), have multiple languages if your business so desires.In short, the selection of technology much be such that it imposes no restrictions on how you conduct your business.

Tracking: As soon as you send the quote you would be curious to and sure that the customer has open the mail and see in the quote. You must ensure that your automatic sales quotation software must have tracking of mails and documents built into it.

Email integration: As email will be the delivery option, your existing email should get integrated into the automatic sales quotation software through open authentication rather than you having to share the password.

E signature: Required in some cases and in case your business requires the Quote to be signed, specially in high value cases, then your solution must be seamlessly integrated with E signatures

Content management system (CMS): It is important to neatly Store all the quotations and make them searchable to powerful search engine. It must have a comprehensive roles and permissions control and your manual documents must seamlessly snug into the ecosystem of document storage.

All the above sounds are tall order. However in the digital world of today, you have to make no capital Investments at all. Doctiger ConfigPriceQ provides all of the above on a pay-as-you-go without any capital investments at all in most cases. The algorithm Builders are designed for business and therefore very easy to learn and use.

Quote to cash is the most important and the final part of your journey to convert call lead into business adopt the tools of digital economy and shorten your sales cycle and see your business grow.

As your organisation adopts digital transformation click-for-quote or automatic software quotation software is, one of the fastest time to value expense, that you could do.

In terms of delivery you can integrated on your website so that the lead can configure their requirements to their choice and at a click, the quote lands email box in a second. From a perspective of conversion you know exactly what the lead needs you have the email id that you can pursue and try to convert quickly. Hence the click for Court is also a powerful quality lead generation software.

You can also integrate the API for the click-for-quote on the user interface on your website and the lead can view the discounted price, promotions etc. right on the screen. This kind of transparency usually helps in conversion as it creates a credibility about the pricing and makes the lead feel that it is based on some scientific principles rather than gut feel.

A Corollary automatic quotation software would be guided sales software where the prices would be calculated at the time in the purchase transaction is actually being done is being done. The quotations have a validity and some of the promotions may have expired at the time of actual purchase, the price may be different. The guided sale software and a dynamic shopping card,where the volume discounts and promotions are automatically applied is also available with Doctiger

About the author : Chetan Agarwal Linkedin , is a technology leader with 30+ years of experience of which more than 15 years has been as a CIO of large global corporations. He is a mentor and CTO for Doctiger.

14 thoughts on “Click for Quote (Automatic Sales Quotation) – Shorten Sales Cycle and increase conversion

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