Are you struggling with the quote-to-cash process?
If so, you’re not alone. Many CSPs are finding it impossible to keep pace in the telecommunications industry because they’re using outdated configure, price, quote (CPQ) systems. These systems are failing to meet the growing demand for complex, customized B2B solutions, leading to slow deal cycles, eroding margins and diminishing customer satisfaction.
To fix this broken process, CSPs need a telco-native CPQ that can handle B2B complexity with ease, accelerate deal closures and protect vital margins.
Picture the Scene: The High Cost of Inefficiency
Imagine a scenario that’s all too familiar today: Your sales team is putting together a quote for an enterprise customer, but it’s proving difficult.
The customer wants to see complex multi-line, multi-access, multi-site, multi-partner offerings in a single quote. Complicated pricing models are involved. A customized bundle has to be applied. The quote demands both flexibility and precision.
And your CPQ system can’t cope with it.
Your sales team must then resort to manual processes, creating the enterprise quote in a Word or Excel document. It takes a month to issue the quote to the customer, who was expecting it weeks ago.
When the customer then requests additional services for one of their sites, your salesperson manually updates the quote and forwards it to fulfillment. As your CPQ is not service-aware, it’s only at this point that the fulfillment team discovers the customer doesn’t qualify for one of the requested services, necessitating yet another manual revision.
Compounding the problem, the billing system processes the outdated, original quote, sending an invoice that now undercharges the customer, reflecting none of the updates. This oversight, unless caught and corrected, leaves money on the table.
None of your systems are communicating effectively. Frustration mounts among your team members and customers alike. And critical revenue is put at risk.
Avoid Losing Out to the Competition
The ability to quickly and accurately quote complex deals is not just about convenience—it’s a business imperative.
As more and more agile non-telecom competitors enter the market, traditional CSPs are forced to contend with entities unencumbered by legacy systems. This puts immense pressure on CSPs to enhance efficiency. As Analysys Mason notes:
“CSPs that are offering non-connectivity B2B services are increasingly competing with non-telecoms players. These competitors are often not held back by legacy CPQ deployments so are able to offer better customer service through self-service capabilities and a faster time-to-deployment. Increased competition means that a lower percentage of quotes will result in a successful sale. There is therefore an incentive for CSPs to reduce both the effort required for each quote and the time-to-quote in order to reduce the cost of each failed quote.”
This heightened competition necessitates excellent conversion rates to sustain business growth. In a market where every CSP is vying for a share of fewer deals, the speed and accuracy of your quote-to-cash process become decisive factors.
Slow quote turnaround times can slash win rates. Your competition leaves you no room for error—you can’t afford to let a cumbersome CPQ system be the reason you fall behind.
Stay Relevant and Build Trust
To quickly respond to evolving customer and market demands, CSPs must be as adaptable as possible. However, IT limitations (particularly the need for extensive hard coding) can stifle this adaptability, making it a Herculean task to introduce new products and services at speed. Prolonged integration times for new products and services—a year or more for just a handful of offerings—can leave CSPs trailing as market dynamics evolve.
And enterprise customers seek more than just agility; they demand reliability and precision in their service agreements. When a CPQ system isn’t service-aware, it can’t take into account unique customer-specific conditions that may influence what they’re able to purchase, leaving this issue to reveal itself only at the fulfillment stage. This oversight can lead to unexpectedly high charges, delivering a jolt to customer trust and satisfaction. Such negative experiences don’t just threaten individual deals; they can compromise ongoing business relationships and future opportunities.
Business Problems Caused by the Broken Quote-to-Cash Processes — And How to Conquer Them
| Business Problem | Broken Process(es) | Solution |
|---|---|---|
| Deals at risk and revenue delayed by slow quote turnaround times. | Reliance on inefficient, time-consuming, error-prone manual processes. Lack of standardization, with sales teams using different methods for each customer. | Use a telco-specific platform that automates the entire process from product configuration and quoting through to final order completion, enhancing speed and accuracy. |
| Risk of customer churn and lost deals due to poor customer satisfaction and trust. | Errors due to manual processes and disjointed systems. Failure to update quotes accurately across all systems, leading to billing discrepancies. | Use an integrated system that ensures real-time updates across quoting, fulfillment and billing to maintain accuracy and prevent errors, handling in-flight order changes effectively. |
| Revenue leakage. | Disconnected systems leading to untracked changes in orders. Billing not reflecting updated or canceled services. | Choose a service-aware CPQ and order management system that produces the most accurate initial quote and communicates seamlessly with billing to ensure all in-flight changes are reflected in the final invoice, protecting revenue. |
| High operational costs. | Quote and billing errors are time-consuming to fix and require significant resources to support the enterprise sales cycle. | Reduce overhead by employing a unified system that automates CPQ and order management, with catalog-driven architecture that acts as a single source of truth throughout the deal lifecycle. |
| Inability to deploy new services at scale or offer bundled, customized solutions due to struggles in handling complex product requirements. | Most CPQ systems are not equipped to handle B2B requirements for multi-line, multi-partner quotes, forcing reliance on manual processes. | Implement a telco-specific system that manages complex B2B solutions and bundles to streamline complex deal configurations. |
| Technical and resource constraints increase costs and prolong deployment times, hampering competitiveness in a fast-paced market. | Extensive hard coding required to customize and meet specific telco product needs slows down system adaptability. | Choose a system with code-free configuration that allows for rapid introduction of new products and services without extensive IT involvement, reducing costs and enhancing flexibility. |
| Lack of visibility and control makes it difficult to make strategic business decisions. | The CPQ doesn’t provide visibility into the margins, profitability or success of different product lines, hindering performance analysis. | Choose a system that empowers decision-making by providing detailed visibility into the performance and profitability of products and services, facilitating better strategic planning. |
Slow, manual processes simply don’t cut it in today’s market.
You need a CPQ and order management system that:
- Delivers complex quotes with pinpoint accuracy
- Carries through to order fulfillment and reliably syncs with your billing system to safeguard revenue
CSG Quote & Order Redefines the Quote-to-Cash Process
Designed specifically for CSPs, CSG Quote & Order transforms erroneous manual operations into streamlined, efficient workflows across the deal lifecycle. Its catalog-driven architecture enables seamless integration from quote to cash, protecting margins and boosting customer satisfaction in demanding B2B markets.
Effortless Migration, Immediate Benefits
Transitioning to CSG Quote & Order is risk-free and straightforward, ensuring you quickly benefit from its advanced capabilities without business disruption.
Take the first step towards a more efficient and competitive future.
