The quote to cash process is also widely known as the Q2C or QTC practice, and it refers to the steps between offering a quote for services or products to a prospective customer and the final stages of delivering the promised services or products in exchange for the agreed upon price.

The quote

The Q2C process begins when the sales department issues a quote and it is delivered to the client for consideration and evaluation. The quote should be accurate, but it’s commonly understood that it is not a final price. It is a solid place to begin the conversation about how the product or service can best meet the needs of the customer.

The sales order

In most cases, the quote can easily be converted into a sales order as the client accepts the pricing and agrees to place some sort of order with the company. Correct order management involves reviewing the order details with the decision maker and submitting it to the vendor’s order fulfillment department.

Order fulfillment

The vendor fills the order to the terms specified in the sales order, including any special agreements made to satisfy the customer’s wants and needs as outlined in the order. The client will review the delivery and approve or reject it based upon their copy of the sales order. If there are any discrepancies, the customer will contact the vendor directly to solve the problem.

Invoicing

After the customer receives and approves the order according to the sales agreement, the vendor invoices the order. A copy of the invoice is included with the payment. Once the payment is processed by the vendor, the Q2C process is considered complete.

Contracts represent an important part of a company’s ongoing and ever-changing relationships with many different vendors, clients, and suppliers. Moving forward into a time where technology governs a large part of every part of a business, it’s likely that paper contracts will continue to become less common, and digital contracts will become the norm in every sector.

Businesses and their clients indicate in many surveys that they want contracts that effectively govern their relationships. This desire will govern the Q2C process, and may present opportunities for bottlenecks in the areas of data monitoring, contract creation, and the negotiation-to-approval process.

Our recruitment team has the resources to match companies looking for top talent in sales and contract management with their ideal candidates, and for more information about how Wahoo Recruitment helps professionals well-versed in every stage of the Q2C process find their dream job, please contact us today.