Revenue Loss – Could your quote-to-cash Cycle be losing you money?

Could your length quote-to-cash cycle be costing you money? Companies often have  a very long waiting period between meeting a potential customer and closing out the deal – which results in a loss of the customer, and money.

Imagine the impact on the bottom line if you could book revenue even just 30 days earlier on every transaction? What if you could remove the bottlenecks for approval and contract drafting? Sales efficiency will be improved dramatically.

In industry terms this is known as shortening the “Quote to Cash” cycle, and contract management can play a large part in achieving this.

Traditionally the sales cycle involves traditional silos of operations, with the sales team out on the road giving the pitch and providing quotes. The legal team then draft contracts and vet the purchasers. The administration and finance team then captures the transaction details and finally invoice the customer.

This cycle can take a long time, frustrating the sales team as commissions take longer, and frustrating customers as their orders take longer to fulfil, and lastly management suffers with potential income that is not coming through due to simple administration management issues.

How Can We Help?

Automating these processes can have a significant revenue impact – a contract management system can easily automate the contract creation process and manage the policies and regulations regarding the Quote-to-Cash cycle.

Contact us today to see how we can help you improve your contract management and quote-to-cash cycle so you can focus on tasks that will bring your company success, while knowing you are saving your company money and your clients time.

Request A Demo

What is Contract Management? | Request a Demo | Contact Realyst

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How the Eastern Cape Provincial Government can Save Billions of Rands With Contract Management Strategy

The Eastern Cape Government has recently been embroiled in many scandals surrounding poor service delivery, particularly in the Health Department. There have been reports of hospitals and clinics having a very small number of medical professionals – if any at all. This suggests poor staff management. The medical clinics and hospitals have also reported having no access to medication available – which translates to poor purchase and supply chain management.

This is a result of a long chain of bad management decisions – and it doesn’t end only in financial losses. The unfortunate fact is that many of our citizens are being affected negatively by insufficient health care. People are not getting the medication and medical help required for a healthy nation. Mismanagement of funds is not only in the health sector – children’s educational rights are being infringed upon as funds are being depleted by ghost teachers who are on the payroll.

Having this discussion with the Realyst team it was realized that the majority of the issues the departments are experienced could be resolved with a sound contract management solution. All at once, the government offices are managing and exceptional amount of people and resources – all this is a major task and there is constant risk of human error. A contract management solution would keep tabs on suppliers and resources, ensure deliverables are met and the records are all kept up to date and within standard requirements.

Despite the requirement for South African Government to have contract management solutions in place to manage public resources, there are still a large number of offices running without this valuable service. In Europe and other developed countries, Contract Management Software offered by companies such as Realyst train Contract Management officials and assist in the maintenance of contracts to ensure the right people are hired and the contracted suppliers are meeting required deliverables.

In conclusion, Government Department can not only have time for themselves and the people through using a contract management solution – they could potentially save billions of Rands. There will be no financial leakage or mismanagement of funds, the correct workers and professionals will be paid the right amounts and there will be no unnecessary spending on expired or ghost contracts.

Let’s hope more government offices will realise the need for an accurate system that will help management deliver a much needed service to its pubic.

Request A Demo

What is Contract Management? | Request a Demo | Contact Realyst