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How to Speed Up Your NetSuite Lead to Cash Process with CPQ

By Angelica L. Cox

What if you could speed up your NetSuite lead to cash process, shorten your sales cycle, and boost your average order size all in one simple step?

Well, with configure, price, quote (CPQ) software, you can.

In this article, we will explore how NetSuite’s basic lead to cash process works right now, and how you can improve yours - and get paid faster - by adding native CPQ software to your existing NetSuite setup.

The Basics of NetSuite Lead to Cash Process

cash process

Filling out the lead form

When a potential customer visits your website, they can fill out a simple contact form to ask for more information.

As a result, their details are sent to NetSuite, and a lead is initiated.

Sending the lead form to the sales rep

Next, NetSuite sends the lead form to the appropriate sales rep, who can use their personalized dashboards to sort and view the information by category and customer.

Initiating customer contact

The sales rep reviews customer information from NetSuite and reaches out with an appropriate message to build a relationship and discover the customer’s needs.

Order form created

When the customer is ready to place an order, a sales rep can create the sales order form using the lead information in NetSuite.

The information you already have is automatically populated by NetSuite. You can search for items, prices, quantities and tax information, as well as enter the expected ship date.

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Sales order sent to the warehouse

On the Warehouse page, a sales rep can validate order information, select shipping address, and send it to the warehouse.

Once the order is complete, the customer will automatically receive an email notification to confirm shipment.

Invoice to customer

On the Accounts Receivable page, a sales rep can see a summary of a customer’s order and their information.

Once they have validated this information, an email with the invoice is sent to the customer.

Payment applied

Once you have received payment from the customer, a sales rep has to return to the invoice form and accept the payment to complete the lead to cash process.

How CPQ Software Helps You Turn Leads into Cash Faster

NetSuite’s lead to cash process is fairly streamlined - but what if you could speed it up even more? With CPQ software, you can.

More detailed form sent to the sales rep

With our CPQ software, customers who are ready to buy no longer have to talk to a sales rep to request more information or configure their product.

They can build the exact product configuration they need right there on the website.

As a result, instead of the basic information request, NetSuite will send your sales reps an almost-complete order form.

Automatically populated order form

With so much information provided in the lead initiation form sent to sales reps, creating an order form becomes very simple, eliminating the need for expensive sales training and dramatically reducing quoting and ordering errors.

With our CPQ software’s Guided Selling module, you also get expanded upsell and cross-sell capabilities at this stage of the lead to cash process, boosting your average order size.

Better sales order tracking

In addition to receiving an email about their shipment, the customer can view and track their order online, as well as see a complete history of their previous purchases.

More intuitive invoicing & payments

CPQ software gives your customers the option to view and pay their invoices online inside the Verenia Sales Portal.

Your Next Steps

If you want to speed up your lead to cash process, CPQ software is a must-have for you.

Want to see Verenia CPQ in action?

Schedule a free demo now.

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Verenia Case Study: Polaris

Learn how a $7 billion manufacturer of sports vehicles with hundreds of thousands of users, increased their sales and profitability with a Verenia CPQ and ECommerce solution.Polaris Case Study