Quotations are often an important part of a company’s know-how. Their creation requires in-depth knowledge of prospects, products, services, know-how, operational schedules and a precise sales process. What’s more, drawing up a quotation often requires theuse of multiple software packages, such as Excel, costing software, CRM and ERP.
Implementing an automated quotation solution therefore represents a major source of performance and efficiency for a company. An automated quotation frees sales staff from repetitive, time-consuming tasks, and reduces errors.
In this article, we’ll introduce you to various solutions for automating quotations:
- A first simple but very limited solution with an Excel spreadsheet.
- A unique solution 100% adapted to a company’s know-how and connectable to existing software.
Please go directly to the desired section.
Solution 1: Automated quotation with Excel template
Excel is widely used to produce quotations. There are two different schools of thought: the use of templates and fill-in-the-blanks, or the use of a spreadsheet in database mode.
Excel templates and quotation forms
Using quotation templates can be seen as a simple first step. It’s not really an automated quote , but it does allow you to define a structure and form that can be reused for every customer request.
Beyond the form, the following compulsory information will always be present : company details, VAT number, terms of payment and expiration date.
However, customer details, date, goods or services, description and price (incl. and excl. VAT) must be added manually.
The total amount will be automatically calculated (but beware of input errors).
The benefits
- The first simple step in optimizing a sales process
- Use of a tool known to the teams
- A common identity and shape for all customers and salespeople.
Disadvantages
- Source of errors in data entry (incorrect copy and paste, sometimes invisible problems in calculating the total amount, impacting customer relations).
- Not connected to CRM, costing software or ERP, need for multiple manual entries
- Management of model storage and versions (to avoid ending up with 15 models on the storage space or file server)
Digitization of Excel quotes in database mode
Excel-based databases can be used to manage different repositories linked to prospects, customers, products and services, or even your company’s information if you have multiple entities.
In fact, the word database is not necessarily the right term to use, as the real databases for customers, products and services are to be found in CRM, ERP or costing software, for example. And so, every time a new prospect appears on a CRM, there will be a manual step to enter this contact into the Excel spreadsheet.
Automated quotation creation tutorial in Excel with database
- Create as many data references as you need on the different Excel spreadsheets. For example: a customer database (fields: Name, Address, Email, Telephone, CRM reference, etc.), a product database (fields: Name, Description, Unit price excluding VAT, VAT rate, etc.).
- Create a quotation template on a new sheet. Add text, company information, legal notices…
- On the template, create a “Data validation” for Customer data from a list. Then, to carry over the other information, use the “=RECHERCHEV” function from the customer database.
- In the same way as for the customer database, create a data validation to display the list of products. In the same way, use the Excel function “=RECHERCHEV” to complete the other information, such as the unit price excluding VAT and the VAT rate.
- Then create the formulas to multiply the price by the quantity.
- Add the formulas for adding the amount of goods and services to calculate the total amount.
The benefits
- The first simple step in optimizing a sales process
- A common identity and shape for all customers and all sales staff.
- Validation fields reduce errors
Disadvantages
- Not connected to CRM or ERP, need for multiple manual entries
- Rather individual, difficult to use collaboratively, unintentional modification of fields, version creation, storage management.
- It has to be updated every time the customer and product database is updated. And manual updates inevitably generate errors.
Solution 2: An automated quote, 100% adapted to your sales process thanks to an automation platform
An automation platform covers and optimizes all aspects of sales management:
- Gathering requirements
- Capturing the contact, the company and the opportunity in CRM
- The costing stages and the proposal validation and iteration circuit
- Create a quote from the costing and send it in pdf format.
- The various reminders
- Acceptance of the offer and updating of CRM, ERP and billing software
In this list alone, automation software frees sales staff from repetitive, non-value-added “administrative” tasks. A sales rep can therefore concentrate on what’s important (technical issues and sales).
Examples of sales administration automation
- From your notes taken during a prospect discovery interview, automatic entry or update in the CRM of the contact, company, opportunity, etc.
- Costing assistance for technical calculations or automation of simple calculations
- Automated transposition of costing elements onto a quotation and into the CRM
- Data display of existing software in the company
- Automated quote creation and conversion into pdf files
- Automated dispatch of quotation to prospect by email, automated reminders and alerts
- If accepted, automatic ERP update from CRM
- Automated billing launched
The advantages of an automated quote
Improving efficiency
Automation frees sales staff from non-value-added tasks, eliminates manual and repetitive data entry, and eliminates errors. Time savings of up to 30% are within reach.
Rapid skills upgrading
Automation platforms create guided quote creation experiences following the company’s know-how. Newcomers can concentrate on the technical, not the administrative.
Consistent data and up-to-date CRM
Since data entry is automatic and no longer a source of friction for sales staff, the CRM and its data are homogeneous and complete. The company can make better analyses.
Better collaboration between teams
Whether in the sales department or in relations with design, production or accounting, these automation solutions simplify collaboration and interaction.
Find out more in our article on process automation
Automated quotation solutions can be connected to all your business applications
Salespeople and teams no longer have to navigate from one software package to another to search for information. Automation platforms enable you to display data from your software in real time, edit it and automatically update your CRM, ERP or business software.
Automation software offers native connectors or generic APIs to connect and manage your data flows.
Automated quotations 100% customized to your sales process, connected to all your software with the Lapala solution.
In this example, we’ve defined a certain sequence of steps. It’s important to remember that everything on the Lapala platform is 100% customizable: the form of the data entry forms, the various additional “administrative” tasks, the automations, the software to be connected.
- Each box represents a stage, assigned to a player (Initiator, Manager, Sales Director, etc.). When the time comes, each player receives information and a form for entering further information.
- Some tasks are automated, such as alerts, updating ERP, CRM or business software, compiling and calculating...
- Conditions may be set to activate other stages, depending on the case
Description of the automated quotation process
Step 1 – Gathering requirements by rolling out a list of questions prepared in advance in a form integrated into Lapala, to determine whether the prospect is of interest to your company.
Steps 2 and 3 – Creating or updating contacts and companies in your CRM. Based on the data collected in the previous step, the Lapala platform will automatically create a new contact and company in your CRM via API (or update it if it already exists).
Step 4 – Create opportunity or transaction in CRM. This step is based on the answers to the form
Step 5 – Qualify the prospect by a manager to score the prospect and examine whether it is relevant to continue the sales phase. Then assign the prospect to a sales representative to build the offer.
If refused – Steps 5a and 5b – Automatically notify the prospect by e-mail and automatically update the transaction in the CRM.
Step 6 – Create the quotation and import it into Lapala to prepare for automated quote creation.
This step can be carried out in several ways and does not require any copy-pasting by the salesperson:
– Via a native form in Lapala, displaying products and services via API.
Calculations can be easily set up in Lapala using no-code
– Using your own costing software.
Lapala will connect to your software via API or the sales rep can import a flat file or csv or xlsx file.
Step 7 – Generate an automated quote. This automatic step uses the costing to create the estimate on Lapala.
Step 8 – Check the quote. This step enables the sales rep to re-read the estimate generated by Lapala and correct it if necessary.
Step 9 – Automatically generate the PDF quote
Step 10 – File and store the quote in a Cloud storage space. This automated step creates a dedicated folder in your drive, and stores and renames the pdf according to your business rules.
Step 11 – Update CRM. This step automatically updates the transaction amount and adds links to documents in the CRM.
If amount over €10k – Step 12 Validate offer by sales manager or director. This step creates a validation circuit for quotations over €10k. You can also create other conditions depending on the seniority of the sales rep or the size of the client company.
Step 13 – Presentation of the offer. This form allows you to take notes about this appointment.
Step 14 – Update the transaction in CRM
Step 15 – Automatically send the offer and accepted quote to the customer
Step 16 – Automatically notify engineering and production
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