Quote And Proposal Automation | salesquoteblog.com

Quoting is The First Order of a New Line of Business

Business Process, Competitive Advantage, Entrepreneur, Productivity, Proposals, Quotes, Sales, Technology No Responses »

Jan 032012

A new line of business is usually a major investment of time and money – time in training, certification, and business process engineering as your company prepares to implement and support customers and a new product or service.

While sales training is also a part of this investment, there’s a significant component of a new business line that is often overlooked or “under”-looked: the ability to easily and naturally quote the new products and services.

To be blunt, I’ve seen many new lines of business fail before they get started simply because the sales team can’t propose it to their customers.

It’s natural enough to try to quote a new business line using your existing spreadsheets or word templates, and such is often the case. This results in a manual, half-baked, ill-understood proposal process that is first and foremost difficult – and that spells disaster for your new business line.

Do yourself and your business a big favor: Don’t just do a good job of setting up your proposals for that new business line: HIT IT OUT OF THE PARK. Go overboard. Make absolutely sure that your sales team can quote those new products and services while falling out of bed.

A few of the things that you should attend to:

Are you leaking sales?

Business Process, Competitive Advantage, IT, Kent, Knowledge Transfer, Managed Service Providers, Order Porter, Productivity, Proposals, Quotes, Sales, iPad No Responses »

Sep 092011

Five Major Sales Leaks That Could Be Affecting Your Company

My wife Anne gets after me because I’m not always careful enough with my spare change and bills, and they often fall out of my pocket. This often occurs in her car, and many a shopping excursion has been thus funded. She says I “leak money” (and does her best to restrict my access to the same).

Some of our customers leak sales rather than money, and this was brought home to me when I recently had a conversation with a good customer who had started using our Quosal Order Porter Mobile for the iPad application. He said he was doing three times as many quotes as he previously had been. Naturally, I think that’s great – but I realized, as he did, that he’d been missing out on two thirds of his sales opportunities before – he was leaking sales by writing them down on yellow sticky notes, or business cards, or just trying to commit to memory a customer’s request for a new product, or his own on-site observations of a customer’s needs. Now, he takes out his iPad and delivers the quote on-the-spot.

There are many ways to leak sales, and all of us do, sometimes on a daily basis. It’s a very costly habit. Here are a few ways that I see sales dribbling away for businesses of all types, but particularly our information technology audience. Continue reading »

Business Quoting Still Has a Long Way to Go

Competitive Advantage, Productivity, Proposals, Quotes No Responses »

Jun 132011

Quosal was formed on a foundation of beliefs that I had about the way business quotes are put together – a way that is sometimes not only not conducive to landing the deal, but can sometimes be counter to that purpose.

I believed then, and still believe today, that business quoting practices rarely put our best foot forward on a really basic professional level. Quotes and proposals are often shabbily prepared, not delivered on time, contain inaccuracies, are difficult to understand for the customer – you get the picture.

When we actively opened our offices and started Quosal rolling, I decided to use our own business startup as something of a research project. I set forth a few basic rules about our own procurement of anything bigger than a pen: that we would seek out at least 3 quotes for what we were purchasing, and that we’d track several “quote-based” metrics on each quote we were provided, such as:

Was the quote provided on time (we sought a time commitment from each vendor)
What was the format of the quote – hand-written? Verbal? Paper? PDF?
Did the quote contain inaccuracies? Math errors? Grammatical errors?
Did the quote accurately reflect what we’d asked for? Did it fill the need?

…and so on. Continue reading »

Quotes and Proposals: The Major Deliverable of Sales

Business Process, Entrepreneur, Kent, Proposals, Quotes, Sales No Responses »

Dec 132010

Throughout my career in sales, I’ve always felt a significant sense of accomplishment when completing and delivering a high-quality quote or proposal to a customer. This feeling continues through to this day, and is greatly augmented by our own product at Quosal.

The other side of this coin is the pressure I would feel as a salesperson when I had a backlog of proposals to complete. I know that many business people and their sales team labor under this pressure today. Indeed, I feel this even more intensely now, in those rare times when, despite our own tools, technology, business practices and policies, I don’t get my quotes and proposals turned around immediately. I feel this pressure more acutely because my own experience, research and expertise in the field of quote and proposal automation tell me that the sooner you get that accurate, attractive quote in your prospective customer’s hands, the more likely you are to win the business.

There’s a great reason for sales professionals and the entrepreneur salesman to feel a major sense of accomplishment when completing and delivering a quote: Quotes and proposals are indeed the major deliverable of the sales team. I can hear you out there saying, “No, CLOSED quotes are the major deliverable,” and of course that follows. However, you can’t close (win) a quote that has never been created, and you WON’T close an inaccurate, half-baked, ugly quote most of the time. Continue reading »

ConnectWise IT Nation: A Community Experience Unlike Any Other

Cloud, ConnectWise, Kent, Order Porter, Partners, Proposals, Quotes, Sales No Responses »

Nov 082010

Our team returned yesterday from a very full week at the ConnectWise IT Nation event in Orlando, Florida. This was our third trip to the event, and our best experience yet. Combined with our participation in and sponsorship of the HTG Q4 meetings at the beginning of the week, it was an incredibly, richly powerful experience.

Our levels of engagement with this event are unique in my experience. We are a ConnectWise user, AND a sponsor of the event and community, AND ConnectWise is also our customer and a user of Quosal. We’re not unique in this; the community has many such ties within the ecosystem that ConnectWise represents. It is one of the reasons, I believe, for the intense levels of energy-times-energy that I have not experienced in other communities – ever.

The event leaves one so overflowing with its vibrancy that the energy must have an outlet — therefore I blog, plan, strategize, sell, discuss, compare, analyze. The energy well has been replenished.

Among the standout experiences was the number of our Quosal clients that attended, and the rather amazing number of them that found me in the halls or in our booth, and related some version of, “Thank you for creating this product. You don’t know how much you’ve helped our business.” The sincerity and intensity of our customers was really somewhat moving, and surprisingly frank. This didn’t happen just a couple of times – dozens of our clients had this message for me. It was really a powerful experience.

Keith McFarland, author of “Bounce” and “The Breakthrough Company” was a real energizer. You know you’re listening to a good speaker when you want to launch out of your chair and enact the ideas that are cascading through your head, put fear aside and make bold moves into the future. This, combined with a general feeling of confidence among the ConnectWise partners, makes me feel great about the future.

I’m heading to Australia in Q1 2011 – and now it’s in writing. This is a big item on my bucket list, and a lifelong dream. It was an Australian-themed event, in any case – we dined with the Australian contingent of HTG (as well as their UK brethren) and had many great conversations and interactions with our good friends from Down Under (who universally feel that we are extreme lightweights in the partying department. I’m afraid.).

We had a great experience with Order Porter on the iPad in our booth at the vendor solutions pavilion. We processed more than 80 quotes, delivering them right then and there on the show floor. ConnectWise (who also uses Quosal and Order Porter) was doing the very same thing for add-on sales in its own booth. It was a great sales experience to do this, and we were delivering a great customer experience as well. It’s always a fun moment to see the startled look on a prospective customer’s face, when their cell phone vibrates as they receive their quote and Order Porter link. The revelation that they can do this themselves, for their own customers, is an “a-ha” moment for them.

A customer related to me the workflow he’d built into his sales process between Quosal and ConnectWise: “We’ve got it down to a science. I tell my salespeople, ‘Just mark the opportunity as Won in Quosal, and walk away!’”

I do not fear the Cloud, and I don’t believe information technology providers need to fear it either. On a high level, “The more things change the more they stay the same.” On an even higher level, imagine how many iterations we’ll continually go through over the years. From mainframes and timeshare to the disconnected PC to the Cloud and back again. I can hardly wait until my grandkids tell me about this awesome new technology called Local Area Networks. Arnie Bellini had a good message for the IT Nation on this very topic.

You know you’re getting old when you’re standing in the lounge thinking, “Who let all these kids in here?”

There were some terrific speakers and presentations at both the ITN and HTG events. The former, I witnessed; the latter, I heard about, as I’m not actually an HTG member. I definitely get presenter envy, as my own skill set in this area stopped progressing in the last century. I’m amazed at how much information can be presented in an hour with the preparation and technology brought to bear by talented people.

It goes on and on, the buttery goodness of such a well-executed event with the energy of true community. It’s great to witness and to be a part of it. I think a lot of people feel the same way. Congratulations to all involved, to the hosts and attendees alike. Can’t wait until next year.

Kent McNall

Kent McNall
President and CEO
Quosal LLC

The real investment needed in your proposal processes

Business Process, Kent, Proposals, Quotes No Responses »

Sep 022010

Do you feel that you have a good understanding of the value of your quote and proposal processes to your company? Is it something you’ve really thought about?

I’m going to challenge those who might answer “yes.” The first challenge: You probably haven’t thought about it that much. The second challenge: You’ve probably dramatically underestimated that value.

The value of these processes is direct, daily and in some cases, virtually inestimable, as they enable and unblock the growth of an organization. They relate directly to the image of your organization — the customer perception of professionalism and quality. The accuracy of quotes and proposals leads to good, win/win business. Overall organizational productivity can be dramatically and positively improved.

All of this can be worth tens or hundreds of thousands to a company, yet some are unwilling to invest as little as the price of a laptop and a few hours of time, while others may purchase the lowest-priced solution to save a few hundred dollars.

What is the right investment?

There are three investments you should consider when improving the infrastructure of your organization in the area of quote and proposal automation.

1. The investment in your quoting platform and tools.
2. The investment of *your time* in full and proper implementation of that platform.
3. The investment in professional services that gets you all the way there, cost effectively. Being cost-effective also means an appropriate and effective use of your own time.

We work with many companies that really need (and would greatly benefit from) investment in all three areas, but invest in only one, or perhaps two. This will not lead to maximum ROI, and may not even lead to basic success.

Under-investment in your quote and proposal automation can negatively impact your business for years to come, since most of us tend to live with mistakes far longer than we should.

Quotes and Proposals Are Information about Information

Competitive Advantage, Proposals, Quotes No Responses »

Jul 192010

Seth Godin gives us another jumping off point to discuss quoting and proposal management.

It wasn’t the bags of chips that led Frito Lay to domination of the snack business, he says. It wasn’t the Slurpees that made 7-Eleven a success. And it wasn’t the clothes that Zara one of the best known brands in Europe (coming to an American mega-mall near you).

No, the competitive edge for those companies was their management of information about information.

At the time of its 1965 merger with PepsiCo, Frito Lay had 46 manufacturing plants and 150 distribution centers.
7-Eleven has more locations in Japan than anywhere else. Mastery of their supply chain is key.
Zara needs just two weeks to develop a new product and get it to stores, compared with a six-month industry average. It launches around 10,000 new designs each year.

These are plain-jane businesses. They make stuff to eat, to wear, and own stores where stuff is sold. But they’re backed with tight, tight management of their information.

For example, instead of adopting a strategy of branding and advertisement, like Abercrombie & Fitch, Zara focuses on radical product iteration. If a design doesn’t show sales traction within a week, it’s canceled, and no design lives longer than four weeks in stores, encouraging repeat business. Up until recently, Zara didn’t even advertise.

They pull down about $10 billion a year.

Why is an information management strategy so valuable? Seth Godin:

Because it compounds. A tiny head start in access to this information gives you a huge advantage … Think about how much needs to be sorted, compared, updated and presented to people who want to choose or learn or trade on it. The race to deliver this essential scalable asset isn’t over, it’s just beginning.

Quotes and proposals are information about information — what was the content, how was it presented, what options were available to the customer, how was it received, how was it tracked, how did it connect to everything else in your CRM and inventory systems?

How are you managing this flow of information about information?

Partner Integrations Are Not a Part-Time Job

Kent, Proposals, Quotes No Responses »

Jun 142010

From our Quosal quote and proposal automation system, we’ve created many integrations with other software applications and platforms. Our integrations are typically very deep and rich, and include accounting systems, CRM systems, PSA systems, office automation products and XML feeds to online distributors.

Before we create such an integration, we carefully evaluate the partner to whom we are interfacing. We need to know:

Can we create a high-quality interface to this partner?
Will we be able to support that interface?
Are the APIs solid?
Does this partner have a good track record with such interfaces to other companies?

The reason we’re picky and careful about such things is simple: Once we create such an interface and our customers — or even just one customer — begin to use it, it becomes mission-critical to their business, and it must be maintained and it can’t be broken. This is not a part-time commitment.

An extra twist on this theme: This commitment remains even if only a few customers are using that particular integration — so each integration is a “market decision”.

For a software developer, each partner integration represents a certain current and future allocation of development capacity. If your partner changes its application or its API, you may have to make adjustments to your own application or interface just to remain operational – much less take advantage of new features. If your partner breaks its own API or application code, your own customers can’t always tell (and won’t care) where the problem occurs – they will be on your doorstep looking for answers.

At Quosal, we make a real commitment to our integrations, and this commitment can be summed up easily with our overriding goal: No downtime for our customers due to our partner integrations. This is a goal we have met and will continue to meet. We don’t consider this optional, especially when we know our partners are relying on us. We work with partners that we believe feel the same way about the fact that we have created such an integration, and for their part are equally committed to that quality.

As more and more time goes on, your quoting platform will be a mission-critical hub of business process. The level of reliability must reflect this completely.

Redundant Data Entry is a Sign You Can Use Better Quote and Proposal Processes

Kent, Productivity, Proposals, Quotes No Responses »

Jun 072010

As I’m talking to new customers or demonstrating our product for prospective customers, the subject of redundant data entry — entering the same information multiple times into multiple systems — almost always comes up.

It’s very common to find companies entering the same data they put on their quotes at least two or three times into different systems. I joke with them that three or four re-entries is common, but that the world record is six re-entries into different systems. But this is not joke — in fact, I’ve encountered at least three companies that are tied for this dubious distinction.

Here’s a typical but not specific breakdown of these re-entries:

1) On the quote itself (spreadsheet or quoting system)

2) Into their opportunity management/sales tracking/CRM system

Then after the “win” is posted:

3) Into their Sales Order System

4) Into their Purchase Order System

5) Into their vendor’s on-line purchase order system

6) Into a separate commission tracking system

True, six different times into six different systems is extreme, but customers often get silent for a moment as I enumerate the above list, because they realize just how many times they really are re-entering the same data into different systems, and what a black hole of productivity and accuracy this really is.

If you’re double or triple-entering your quote and proposal data, improvements to your process can have a very positive impact on your profitability and your processes. If you’re re-entering that data four or more times, then you have a serious leak that needs attention.

A new approach to quote and proposal automation can certainly be a big part of the solution. Another important part of solving the problem can be the expertise of a business process consultant, a service that we provide at Quosal in the areas related to your quote and proposal processes, and the quote-to-order processes.

Eliminate the redundancy, and you’ll be very pleasantly surprised at the bottom line results.

Knowledge Transfer: The Hidden ROI Gem

Entrepreneur, Kent, Knowledge Transfer, Managed Service Providers, Proposals, Quotes, Sales 1 Response »

Jun 022010

There are five substantial areas of return on investment for businesses — especially IT providers and MSPs — that implement Quote and Proposal Automation (QPA).

Quote/Proposal Creation Productivity
Quote to Order Productivity
Quality
Competitive Advantage
Knowledge Transfer

In ROI terms, each can be very substantial, and determining which area has the most potential will vary from company to company. But more often than not, the ROI area with the highest potential may surprise you — Knowledge Transfer, most easily translated as “the ability to get a new salesperson up to speed and quoting for new business.”

Here’s a mini-drama played out time and again among small IT/MSP businesses: The business has a few productive sales people, most often the entrepreneur who started the business, and perhaps another veteran that handles a specialty area like government sales. They’ve each developed their own system of getting quotes out the door, often involving a combination of Word, Excel or Ye Olde Quoting Tool they purchased or developed themselves back in Aught-’02.

The entrepreneur wants to get out of sales, but can’t. Every once in a while, he gets fed up and hires a young fireball to expand the sales department, and the intrepid stripling gets off to a great start, has a big handful of prospects ready to sign in no time … but he needs to do a quote or proposal for them, and the party’s over. The current systems are so arcane that the only way he can learn how to use them is to have some tribal knowledge passed down, either by the impatient, overloaded entrepreneur information-hoarder, or Mr. Grizzled Government Sales Specialist, who has absolutely no incentive or motivation to teach the new rep anything.

After a few months, the new kid wanders off to more successful hunting grounds.

This vignette happens constantly, and is the reason that the knowledge transfer possible through a standardized approach to QPA is possibly the highest ROI area for this business – because it can unblock growth and let the genie out of the bottle. If a business’ growth is stymied, and has been for years, how do you measure the ROI on a strategic move that allows them to get to the next level?

The ROI on Knowledge Transfer is facilitated by a QPA solution like Quosal by:

Standardized processes for creating and maintaining quotes and proposals.
Eliminating the manual steps and tools that lead to common errors and omissions.
Creating easy processes that allow the company’s experts to review and approve quotes and proposals.
Providing a way for standardized quote content to be centrally created and managed, rather than “inherited” from other quotes and proposals.

When these factors are in place, that new sales representative has a great chance to be successful without the roadblocks, “tribal challenges” and old, chaotic processes.

Quote and Proposal Automation generates tremendous ROI – and Knowledge Transfer can be the “sleeper” ROI, and the highest of them all.

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