New course alert: learn how to automate the sales quoting process for your business
Did you know that the average sales representative needs 4.9 hours to issue a single quote or proposal? In some cases, hours turn to days or weeks of back-and-forth interactions with managers and logistics in an attempt to finalize a proposal. With price quoting automation, businesses are able to finalize quotes in a fraction of the time that traditional methods demand.
Businesses using CPQ (Configure-Price-Quote) solutions need about 3.6 hours to complete routine price quoting processes. With pricing automation, sales representatives can generate quotes, statements of work, and legal contracts tailored for the specific needs of a customer in mere minutes.
Common price quoting challenges
Handling price quoting processes manually entails a common sequence of events:
To initiate the price quoting process, the customer sends an email to the vendor with a request for an estimate of goods or services.
Once the vendor reviews the request, the customer is sent the quote that lists the requested goods, services, and any discounts.
If the customer needs to propose any changes to the quote, the parties then negotiate until they come to an agreement or the quote is declined by the customer.
The pricing negotiations take place by email, with all parties involved in the email chain. Once the customer accepts the terms, the parties sign the amended quote to proceed with payment.
As a result, price quoting can easily become a time-consuming process that requires an exceptional degree of coordination and team collaboration. Using automation can help resolve any issues related to lengthy, monotonous, and inefficient price quoting procedures.
CPQ in facts and figures:
The CPQ market is expected to reach $872.8 million by 2025 with a 19.23% growth over the forecasted period.
CPQ solutions can elevate quote productivity by 33%.
CPQ-enabled businesses decrease proposal turnarounds from 3-5 Days to 15 minutes.
Using a CPQ solution boosts the average deal budget from $211k to $432k.
Learn price quoting automation with the airSlate Academy
With the airSlate Academy, you can enhance your professional skills with free certification programs. Start with basic courses on business and document processes or plunge headlong into the expert certifications for automation deployment. Each of the airSlate Academy’s Certification Programs has several courses to complete. Feel free to take the courses in any order, however, following the order listed on the platform is recommended.
airSlate’s Price Quoting Course contains learning resources combined with practice sessions. In this course, you’ll learn how to automate your price quoting workflows, minimize manual data entry, enhance team collaboration, and much more. Once you complete a Price Quoting Course, you will obtain a Verified Certificate shareable on social media. Feel free to include it in your LinkedIn profile to demonstrate the skills you’ve gained.
A no-code automation solution like airSlate makes price quoting workflows faster and more efficient:
The customer requests a sales quote by completing the data collection form and specifying what goods/services are needed. Then, the information they’ve provided is automatically pre-filled in the sales quote.
Next, the vendor receives the quote with the pre-filled information for the purchase. All they need to do is fill in any extra information for discounts and return the quote to the customer.
After the customer reviews the quote, they can begin to negotiate the terms in real-time by proposing their changes. Once the customer is willing to accept the terms, they sign the quote.
An automatic email notification is sent as a follow up to make the vendor aware that the quote was accepted.
Finally, the vendor can proceed with processing the payment.
Take note, all sales quotation and payment processing forms are automatically housed in Google Drive.
How to use airSlate’s no-code Bots in price quoting automation
Despite stiff competition among various automation solutions, airSlate has no direct rivals. That’s because its capabilities are not strictly limited to price quoting automation. With the help of airSlate, SMBs and enterprises can use powerful automation to streamline routine tasks and eliminate costly bottlenecks.
airSlate’s configurable no-code Automation Bots will help you set up a fully automated price quoting workflow specifically tailored to the business process you have in mind.No specialized IT skills are needed to start working with airSlate’s no-code Bots. All you need to do is enroll in the automation courses listed below. You’ll learn the basic steps of setting up pricing automation and master the different types of airSlate Bots developed for this purpose:
Roles Reminder Bot (sends automatic reminder emails to all workflow participants about roles that need to be executed to complete a Slate).
Google Drive Bot (archives completed Slate documents to your Google Drive account).
If you want to boost your automation skills, we recommend enrolling in the free certification programs at the airSlate Academy. Start with the Price Quoting course to advance in price quoting automation or try any other course that corresponds to your business needs.
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