Order to Cash
The order-to-cash process encompasses all steps from when a customer order is placed up until the business is paid (the cash).
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You can take several approaches to improving your organization's Order To Cash (OTC) process, including automation, better data collection, and standardization. However, these approaches may not be effective if you don't properly identify the root cause(s) of a poor OTC.
Process Driven AI is the first line of defense in discovering what’s going wrong, and more importantly, what’s going right.
The Order to Cash process kicks off the moment a customer confirms an order and generally includes the following steps:
Purchase Order created - a customer has created an order with one or multiple items
Order Fulfillment - a Sales Order is prepared for shipment or a service appointment is scheduled
Order Shipment - an order is shipped to the customer or a service is completed
Invoice Creation - an invoice for the order is created and sent to the customer (if not already paid during order creation)
Invoice Clearing - the invoice has been paid by the customer and registered to the General Ledger
These steps may vary based on the business model of the organization. Organizations may execute their businesses by Make-to-Stock, Make-to-Order, or some service business models.
Leveraging Perceptif can optimize your Order-to-Cash process with with these steps:
Discover your as-is processes
Use Root Cause Analysis to understand why issues happen
Continuously monitor and improve your processes by utilizing interactive KPI applications
With Perceptif you can rely on real data when analyzing your Order-to-Cash process. When you begin to understand the strengths and weaknesses of your process, process driven AI helps you to focus your improvement initiatives on those areas that will produce the most value for you. With these insights, you are well prepared to take on the required changes to your Order-to-Cash process!
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