SkySwitch Builds Socket Into its Systems for Faster Payment
Turning accounts receivable items into cash is one of the toughest things a business can go through. It's also one of the most necessary since cash flow is life for a business. For resellers, it's no different, though some resellers are willing to go the extra mile to make conversion to cash faster. SkySwitch is looking to give its own resellers a boost with integration of Socket, an application that targets the quote-to-cash process for optimum speed.
By including Socket, resellers can create quotes using products straight from a billing system's catalog. With these quotes in hand, potential customers can just click a link from an email form to accept, and the system then creates an account shell automatically, thus speeding up the process to go from quote to filled order. A streamlined process tends to go faster, and by reducing the total time it takes to get a quote and get the quote in the system, the time to go from quote to paid bill is much shorter.
Better yet, that's just where Socket starts, not where it ends. Socket can offer a variety of other useful tools, like simple integration with websites, a recurring billing system for orders that are routinely repeated, reporting and analytics tools to help get the most out of all those orders, lead generation tools, and more.
Socket customer success specialist Matt Stansfield commented “In most cases when Socket is integrated with a CRM, the information shared by the system is pretty basic, customer contact, billing and products ordered. However, there is significantly more information collected when properly quoting a Hosted PBX (News - Alert) system. All of this information needed to be organized and moved into the SkySwitch platform to fulfill the order and provision the account.”
The good news here—at least for SkySwitch resellers—is that it's clear SkySwitch wants to see its resellers succeed, and it's willing to put some extra power into its offering to make sure that happens. While this won't address every problem—slow payment isn't always about slow invoicing or slow quote generation; sometimes it's more a function of financial difficulties on the buyer's part—it will help make the process a little smoother, and may well take some of the delay out of the equation. That means the reseller has a more stable cash flow and can better address its own responsibilities, and may well even be able to reduce some of its own expenses; less manual information entry, for example, can free up sales reps to work elsewhere, or reduce the load on administrative staff.
SkySwitch may well have won itself some new friends, and some new resellers, as a result of its new Socket integration. Hopefully this will prove good news for all concerned, and should at least make some processes easier to work with.
Edited by Stefania Viscusi