Faster Quote-to-Cash Processes – MedTech Company 

Before:

Non-structured Quote-to-Order Process Slowing Deal Closures

This medtech company’s opportunity-to-quote-to-order process required many manual steps and frequent data re-entry. Sellers relied on legacy knowledge and had to interact with several stakeholders to track down pricing for their clients. The absence of a centralized pricing authority led to errors and slow quote generation.

Most of their clients were members of group purchasing organizations (GPOs) and integrated delivery networks (IDNs), and their current system lacked automated “Best Price” calculations for hospitals and Electronic Manufacturing Services (EMSs). Additionally, sales representatives were not able to see the latest quote updates or receive timely feedback on proposed quotes, slowing down sales cycles. As the company attempted to scale its sales systems, the quoting system was holding them back from growth, delaying deal closures and affecting their bottom line.

Solution:

Implementing Product Bundling and Batch Integration for a Faster Quote-to-Cash Process

After a thorough analysis of the company’s processes, Spaulding Ridge broke down their internal operation workflows to identify areas that could be automated or improved.

We proposed implementing product bundling within Salesforce. This allowed sales representatives to generate pricing that matched each client’s pricing and purchasing requirements. Product bundling also simplified the process of offering approved discounts, allowing reps to close deals faster.

We then set up batch integration, which allowed the company to access their pricing model in Oracle to generate quotes in Salesforce CPQ. With the batch integration in place, we transferred pricing information through MuleSoft API from the company’s previous system to Salesforce CPQ for faster quoting and order generation. This flow allowed sales representatives to leverage the best prices from GPOs, IDNs, and regional contracts, providing customers with optimal quotes and reducing the time to generate quotes.