How does the quote to cash process work in telecom?
Here are the steps followed during a typical telecom quote to cash process flow in TimelyBill.
The quote-to-cash process covers the end-to-end functions related to sales activity for a telecom product or service within our software. To help you understand what our seamless Q2C system looks like, we've put together a list of steps and components used during the process.
- Step 1: Entering Customer Data – The first step in the process is to add the customer's
information into TimelyBill. We have a USPS
and geocode lookup tool to help ensure a
valid addresses are
- Step 2: Defining the Opportunity
– The second step involves tracking and cultivating the
prospective customer. You can define opportunities and track activities
using our lead
management feature. Note, new
opportunities can also be defined and attached to
- Step 3: Creating the Quote –
The next step is producing the
customer quote with all
the desired products, quantities and costs. This is
where you select the products or services for sale.
You can also add discounts and product bundles.
When ready you can use our email send feature to transmit the quote to the
customer. Lastly, the customer can digitally
sign the quote via our integration with DocuSign.
- Step 4: Generating the Order –
After the customer signs off on the quote, you can
quickly convert the quote to an
Our ordering component can initiate
user defined workflows.
These workflows can automate your process by
creating internal tickets,
auto-provisioning external devices, and triggering
- Step 5: Sending the Invoice
– After the order has been initiated, we generate
and send the customer's
invoice. Telecom invoices usually include
recurring and non recurring charges,
payments and adjustments.
- Step 6: Collecting Payment – The final step, "Cash", is where your company collects payment via our customer portal. TimelyBill can automatically recognize revenue, launch dunning, and make general ledger entries.