Microsoft Dynamics 365 for Sales is indisputably a leader in the CRM space, with an extensive feature set that helps you bring customer information together in one place, enables team collaboration, and assists you in both discovering and acting on sales opportunities.
While it is true that Microsoft Dynamics 365 for Sales has built-in functionality for generating quotes and proposals, it is very basic. It lacks the ability to ensure quote accuracy, adhere to company branding, and track buyer interaction. It leaves much to the user, who in turn must create inefficient manual processes outside of the system to finalize a quote.
Mistakes, Wasted Time, and Lost Profit Due to Manual Sales Processes
Generating price quotes is a crucial step in the sales cycle. Rapid and accurate quoting can contribute to fast business growth and is a central part of creating an exceptional customer experience.
However, it is not without challenges. When pricing becomes complex, the effort to generate a quote with manual processes increases exponentially. Accurately pricing products with multiple components or variables is even more challenging when factoring in adjustments for industry, client discounts, and other considerations.
To cope with these difficulties, sales representatives must spend much time manually calculating prices, perhaps using a complicated Excel spreadsheet, and then retyping the final values in a Word document to present a polished, professional image. Not only is it a tedious process, but it can also be error-prone, and inconsistent in pricing, legal policies, and brand image.
All of this affects your bottom line. In fact, according to Aberdeen Group, only 38% of companies are sending accurate price quotes, leaving significant revenue on the table.
How can the process of generating quotes in Microsoft Dynamics 365 be streamlined to eliminate errors, save time, and recapture the lost revenue due to manual processes?
3 Tips for a Streamlined Sales and Quoting Process in Dynamics 365 Sales
Use playbooks and guided selling. If you have read this far, no doubt you are one of the thousands who use Excel, Word, or other manual templates to generate quotes for your customers. As a better option, sales playbooks give representatives a simple, step-by-step approach to customer engagement and content generation. Fully customizable for any sales workflow, these playbooks make it possible for any sales rep to create a personalized quote for their client in a matter of minutes.
Create digital proposals without manual templates. With manual processes, the data related to a quote could reside in any of the multiple files created during the quoting stage. Digital proposals, on the other hand, are created from within the software, eliminating much of the manual entry and reducing errors. As a bonus, these proposals are easily shared by the recipient with internal stakeholders.
Use Dynamics 365 Customer Insights to close more deals. Once sent, the digital proposal also gives real-time alerts on customer engagement, allowing sales reps to identify buyer intent, track the progress of the prospect in the sales pipeline, and see what content is resonating with potential clients. This also allows sales managers to pinpoint areas of friction in the process so they can adjust and streamline the customer experience, thus moving the deal ahead.
While manual processes may have worked for an organization in the past, unfortunately, they do not scale well, becoming more time-intensive and difficult to manage as business increases.
It may seem a tall order to put these three tips into practice. In fact, you might be surprised at how easy it is to implement tools, fully integrated with Microsoft Dynamics 365 for Sales, that automate many parts of the sales process and make quoting simple, easy, and fast, leaving your sales team free to do what they do best – sell.
Would you like to see firsthand how such a solution can work for you?
Read more about the easy way to generate quotes in Microsoft Dynamics 365 for Sales, or visit us on the web at Dealhub.io.