Few business processes have as significant an impact on an organization and its customers as order-to-cash (O2C). It is the primary portal into how customers view their experience, and it influences a broad range of internal functions. Improvements to O2C processes can improve the customer experience and the organization’s operations.
In today’s turbulent business environment, customers have higher expectations of speed and service, and transparency in their transactions. It is O2C that drives an organization’s internal response to these new, heightened customer expectations.
Digital Supply Chain Institute and American Productivity & Quality Center (APQC) examined how 177 organizations manage and improve their order-to-cash (O2C) processes during turbulent times.
Here are just a few of the key takeaways:
- Ensure high-quality master data, which is foundational for an effective O2C process.
- Increase automation beginning with RPA and moving to ML and AI.
- Centralize end-to-end process ownership.
- Standardize the order-to-cash process.
- Establish common goals and measurements for all stakeholders.
- Enable order visibility and transparency for sellers and customers.
Download the full report here.