What are approvals for services quoting? Definition
Primarily, approvals are needed in services quoting because pricing, discounting, deal margin and refunds are applied which are not always in line with standard business policies. Sales and business teams need dynamic approvals to speed up the sales cycle and improve the overall customer service experience.
Approvals play an important role in quoting cycles and are responsible for several delays, thereby impacting the revenues.
Advanced approvals by Provus are designed to streamline and automate the process of securing internal approvals for customized sales quotes.
How can you accelerate service quoting approvals in sales cycles?
Develop clear and logical pricing rules – When companies require sales teams to get approvals for custom quotes, the primary goal is to guard against excessive discounting from the standard sales policies. Provus’s advanced approval feature is designed to out guardrails to this process, helping approvers catch inappropriate pricing and discounting.
Clear and logical pricing rules clarify the maximum discounts allowed for individual products and total quotes.
Email-based approvals – Using email-based approvals, the approvers can quickly reply by indicating if the quote is “approved” or “rejected” and can justify the decision.
Smart approvals eliminate redundancies – When a single approver rejects a quote in a traditional approval chain, the modified quote has to be resent through the entire chain again. This leads to wasting the approver’s time and further delaying the quote from reaching the customer. Advanced approvals can read what’s been updated and automatically resends the quote only to approvers who need to review it again. They can also be configured to highlight where the quote deviates from the standard policies.
What are the benefits of approvals for services quoting?
Improvers transparency and streamlines the approval process – Approvals provide complete transparency by enabling salespeople to understand how the approval process looks and which approvers need to sign off on various aspects of the quote. These insights clarify approval expectations for sales reps and help them reduce the pricing and policy deviations in custom service quotes.
Establishes SLAs for the approval process – You can unify the organization’s entire quote approval process over a single dashboard on Provus. Leadership can set expectations on how quickly approvers should approve/reject quotes. Then on, the approval timing can be monitored to ensure quotes do not get stuck in limbo for long times, thereby establishing SLAs for approval processes.
