Benefits of Optimizing Q2C Process

Dive deep into the powerful world of Q2C optimization with Manoj Harbhajanka, CEO of Acuiti Labs. This episode unveils how streamlining these processes unlocks a treasure trove of benefits – from boosting revenue to enhancing customer experience. We’ll tackle common roadblocks and explore proven methods for success across industries. Finally, discover how Acuiti Labs becomes your trusted partner, crafting a roadmap to a seamless Q2C transformation that fuels your business growth. Don’t miss out – learn how to unlock your full potential!

Transcript

Hello and welcome viewers to our new series called Acuiti Talks. In this podcast, we are going to be talking about Q2C processes, which is Quote-to-cash and actually talking about what that is, what it means for businesses and how it can be a crucial and game changing subject for a lot of businesses from various industries and various sizes.

We are going to be hearing from industry experts who are going to be sharing their insights about different cases that they have seen and come across. And also doing a deep dive into how you can optimise your Quote-to-Cash processes and make it efficient for your business.

Today we are welcoming Manoj Harbhajanka , CEO of Acuiti Labs, to lead us through this first episode. He is going to be sharing his insights about Q2C and how that can help and be very beneficial for businesses to help strategize and make your operations more efficient.

Manoj’s expertise in this area, especially Quote-to-Cash, BRIM and other billing automated services make him the ideal guest for today’s conversation. So, without further ado, welcoming Manoj Harbhajanka to this first episode and let’s take a deep dive into the world of Q2C.

Thank you Rhea, for having me today. Yeah, Quote-to-Cash is an interesting space.
For most organisations it could be having good contracting capability in place, so be able to send out quotes with their customers. Book that contracts together should automatically flow from that contract.

And the ability for the customers to receive information in terms of the services provided and then they’ve been provisioned automatically so that these can be rated and charged and then invoiced to the customers accurately.

And all the revenue that is received as a result of that, that is then automatically accounted and this whole process from right to the point at which we are providing the Quote to our customers to the point where the cash comes in through the system that that entire process of Quote-to-Cash is what we talk about, as you know, automating or optimising the process.

Yeah, that sounds good. So, what would you say are some of the specific benefits of optimising your Quote-to-Cash process.

Yeah. Typically, most customers, what we see is they have this word systems in place which are not necessarily talking to each other.

A typical example would be people might have a quote system. Configured price quote system in place, which doesn’t really talk to the contracting system or the contracting system is not configured for developing and creating the pricing for them and therefore they’re having to use multiple systems in order to just create the contract.

And then subsequently, as I said earlier, provisioning and being able to record the events that take place which triggered the billing event, that is not automated and in a lot of places we see that’s a manual process. So if you are able to automate that process, it means that you are likely to get accurate invoices. You of course you know just removing that manual process of doing this is going to get you more accuracy and less error prone.

Also, if you’re working with the process of provisioning and recording the events automatically for rating and charging, you end up reducing the revenue leakage that typically the customers would have. And this is what we see in most of our customers is that they would have manual processes for recording the events and therefore billing their customers, which end up losing some of those events in the process and therefore loosing on revenue.

Time to market is quite an important thing. You would typically have customers who have systems which are hard-baked and it’s very difficult for them to change and in this dynamic world that we live in processes change, pricing change, the bundling and the way we package our deliveries that changes. And if you’re not able to change that currently results in you know either lost opportunity or you end up sending wrong invoices to customers.

Also, if you have this end to end process which is automated, you will typically end up getting much better 360 view of the customer degree view of the customer as well as good understanding of what’s the data that’s gone through the system, which is much more, much better reporting.

All in all, you’ll see that you have much better customer satisfaction and therefore definitely as a part of your revenue management you’re able to improve your top line, but also as a result of the accuracy in your invoicing you have happy customers and hence the impact on the bottom line.

I think by that, it is clear that there’s a lot of benefits of actually optimising your Quote-to-Cash process. Would you also want to shed some light on what would be the challenges that businesses would face while doing this.

So that’s an interesting question. Of course, there are challenges, but first and foremost thing is that if people are going for automated process, transforming their order-to-cash, quote-to-cash process they should be ready and prepared for change management.

And in several instances, we see where customers would like to automate their process or transform the process, but the change management part of it doesn’t come along at the same pace and that would be a big challenge. I think that’s something that should be addressed right at the beginning. So that should be part of the programme as we embark on change management journey.

Other than that, of course, making sure that you’ve got your processes documented and good understanding of your end to end processes. And you know, being able to bring back to the table for design during the design sessions that is very important.

The other challenge that we would typically see would be as part of the programme management itself. Whether there is executive connect, or whether there is enough focus being put by the business on to this programme like this, which is transformational, having that is important to ensure the programme is delivered successfully.

Amazing, actually, that’s very insightful. And now you’re closing with this topic maybe we can talk a bit about how Acuiti Labs can be that partner for anyone in this space looking to actually optimise their quote-to-cash processes.

Acuiti Labs has experience in quite a lot of industries.

We are, as an organisation, we are focused only on quote-to-cash transformation. We do not do anything else. Everybody in the organisation has a very, very strong and deep understanding of quote-to-cash processes across multiple industries, but also very, very strong knowledge and deep expertise in the SAP technologies that we use, whether that is On private cloud or public cloud.

And I think the the fact that each and every project that we’ve done to date has been 100% success. All our clients are referenceable clients. I think it goes and proves a testimony of what we can do.

Ok that sounds amazing. I think this was an very insightful session. And with this this is a wrap for our first episode. Thank you Manoj for sharing these valuable insights with us today.

And to you viewers. Thank you so much for tuning in today for the very first episode of our podcast series Acuiti talks. In this episode, we talked about the essence of Q2C processes and how they are very crucial for businesses of all sizes. In the next episode, we are going to be talking about manual systems and businesses who are still using manual systems can face various challenges. So, until then, I’m your host Rhea, Good Bye.