Can You Track the Product Price in CRM?

Posted In | CRM | Finance | Accounting Software

In order to close deals quickly, sales reps first need an advanced system to quickly get sales quotes created and approved or sent to the prospects without waiting for approvals but keeping the desired gross profit margins. But how?
 

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Indeed, getting a sales quote approved for sending to a prospect does not guarantee a closed deal, but the faster it gets to the prospect, the more likely the prospect is to buy. You'll also have a lower chance of being outsold by a competitor.

 

The Benefits of this Use Case

When businesses are using a manual process, it is unfortunate that getting approval for sales quotes takes hours or weeks. Instead of engaging clients in the field, representatives are preoccupied with paperwork, wasting crucial time and opportunity. Quick delivery helps prospects receive quotes in a timely manner as well. In a cloud-based setup, sales reps can create quotes and get the approval online, and even create quotes and send them to prospects without having to submit and wait for approval by seeing the gross profit margin within their working interface. But what tool notifies the sales rep and stops a quote from being made in the CRM if it doesn't meet the approved margin?

 

Integration of CRM and Accounting will help control product pricing within the CRM system so that the sales rep receives an immediate report on their quote, allowing them to make decisions without having hours of waiting for approvals. The integration also helps to communicate with sales, finance, managers, and clients about quotes and prices from one single place. This enables sales reps to get the work done without switching between systems or worrying about whether the prices are proper because they can access quotes from either system. Other benefits include:

 

  1. From proposal creation to approval, there is no manual process. 

  2. Quicker deals closure.

  3. When a sales rep delivers a quote, he or she commits to the correct price.

  4. Control of pricing within the CRM

  5. A boost in the sales process efficiency

 

Applications and Systems that need to be Integrated

The integration of CRM and Accounting will help control product prices within the CRM system. By streamlining the submission process of the quotations and approval in a cloud-based set-up, sales reps and managers can see real-time updates on submissions, approvals, and pricing.

 

How Gridlex’s Integrated App Suite Helps 

Gridlex App Suite helps by streamlining this process so that every quote can be delivered in a timely manner to customers without confusion about prices and quality. This also provides a boost in sales process efficiencies. Teams will have real-time access to essential information with a fully integrated CRM and ERP solution. They may get information on inventory levels, shipments, customer financials, order history, returns, payments, pricing, and more at the touch of a button.