The quote-to-cash cycle encompasses many contractual factors that determine company revenue. These factors include pricing and discounts, order management, delivery schedules, invoicing and payment terms.
Shorten the Sales Cycle
Time attributed to contract assembly, negotiation and approval is estimated at 18% of an enterprise’s sales cycle.* With Contraxx, the sales cycle is shortened and used more efficiently with standard language and terms to optimize cash flow.
Ensure Approval of Non-Standard Terms
With the Contraxx automated workflow process, it’s easy to ensure that appropriate approvals are identified and granted for use of any non-standard contract terms that a sales professional may include in a contract.
Minimize Revenue Leakage
With Contraxx, organizations can virtually eliminate a large percentage of errors by automating workflow processes to ensure employee and contract compliance.
Monitor Commitments to Forecast Sales
By centralizing and systemizing contracts, organizations can use Contraxx to accurately forecast sales. With all contracts residing within Contraxx, it becomes easier to avoid common errors with paper contracts.
Optimize Customer Satisfaction and Retention
Contract compliance is as relevant to you as it is to your customers. Contraxx lets you deliver on commitments, meet deadlines and prepare accurate invoicing based on contracted terms. Over time, improved adherence to your business obligations will optimize both customer satisfaction and retention.
*Contract Management: The Quote-to-Cash Cycle. Aberdeen Group, December 2006.