Quote-to-Cash refers to the end-to-end process from configuring an initial quote for a sale all the way through Revenue Recognition.
Quote-to-Cash generally encompasses six areas:
- Configure: The set of products and services included in an agreement.
- Price and Quote: The way these deliverables are priced and quoted to a business prospect.
- Contract: The official agreement presented to the prospect.
- Billing: The itemized billing created and sent by the Accounting team for money owed based on the signed contract.
- Contract Lifecycle and Order Management: The management of a contract from initiation through execution, performance, and renewal/expiry.
- Revenue Recognition: Reporting on revenue once products and services promised have been delivered.