9 May 2018, by Richard Brown
As new technologies, trends, challenges and innovations evolve in the finance space, it’s more important than ever that finance professionals can adapt to change.
Faced with increasing responsibilities and wide-ranging challenges, today’s teams must be able to manage and report on complex data to ensure growth and agility, and need real-time insight to deliver quantifiable process improvements.
Yet where processes have evolved within legacy systems, data silos – and an often disjointed tool stack – can create substantial visibility challenges.
Why is Order-to-Cash Process Automation the Answer?
With the right technology it’s possible for finance teams to create clarity, visibility and intelligence across their processes and the business as a whole, enabling improved efficiency, risk mitigation, and real-time reporting for strategic planning.
Digitally transforming their order-to-cash process enables businesses to capture and interpret in-depth information about their customers from the moment they on-board. With the data integrity achieved through real-time intelligence, centralised visibility and easier data management, these modern order-to-cash SaaS solutions can provide the business intelligence required to mitigate risk, improve efficiency and drive growth.
How Will an Agile Solution Deliver the Visibility and Intelligence Needed?
Essentially, the right order-to-cash solution will provide a clear system to minimise time and effort spent on transactional tasks and information gathering, while maximising the time available to provide strategic business insights that will further growth.
Good solutions are able to:
- Harvest data, monitor patterns and calculate behaviour in order to deliver quantifiable process improvements.
- Quickly capture and interpret data, to make informed decisions that deliver change and optimal business growth.
- Deliver analytics from the invoice down, to feed up into sales opportunities, and profiling customers to identify risks and opportunities
- Alert teams of potential risks, allowing you to not only react to risk, but proactively mitigate and manage it.
- Continually review and adjust processes and rule-sets in response to changing market conditions.
Some of the biggest challenges that finance teams face today centre around having the right visibility and real-time intelligence to make informed decisions that improve processes and drive growth.
Solutions such as finance management automation technologies provide that clarity, enabling teams to forecast cash flow accurately, to integrate data into intuitive systems and to gain deeper visibility into finance. Quality order-to-cash automation solutions have never been more important to the finance function than they are today!