Accelerating Order-To-Cash Performance With Automation
Credit And Collection Automation
Many finance executives have struggled to maintain high levels of order-to-cash performance over the past decade, as customer expectations and technology have pushed against the limits of traditional manual processes. Fortunately, recent advances in software for credit and collection automation have enabled finance teams to achieve order-to-cash performance excellence more rapidly.
Software for credit and collection automation provides finance executives with the tools to realize order-to-cash performance improvements through seamless coordination of customer orders, collections, and management of accounts receivable. When implemented well, it can lead to improved operational excellence, increased customersatisfaction and speed to cash, improved net revenue, and optimized DSO.
The optimal Softwaresolution for credit and collection automation should be able to facilitate numerous order-to-cash processes. This includes validating orders, executing orders quickly and accurately, managing customer accounts, and consistently meeting payment terms. Moreover, the system should provide users with real-time visibility into the order-to-cash process, while allowing them to quickly respond to changes.
When evaluating different Softwaresolutions, the primary focus of finance executives should be on the scalability, configuration, speed, and accuracy of the software. Furthermore, executives should be cognizant of the level of customization the software can provide. They should also be sure that the software in question can meet their companies specific compliance requirements, as well as the compliance challenges posed by changing regulations.
When selecting software provider, finance executives should strive to identify partner that is willing to collaborate and consult with them, as this will ensure that their chosen solution fits their unique organizational needs and processes. Additionally, executives should seek out partner that is committed to delivering timely customerservice and that is capable of supporting the long-term evolution of their order-to-cash process.
Although it can be challenge for finance teams to keep up with rapidly evolving customer expectations, leveraging the appropriate software for credit and collection automation can simplify and automate the order-to-cash process. By doing so, finance executives can ensure that their company maintains competitive edge in the modern marketplace.
