Perceptif For Optimized Order To Cash Process
Order To Cash, also abbreviated as O2C or OTC, is essentially how organizations receive money.
This process usually involved a large number of transactions depending on the business size, and risks involved includes occurrence of mistakes and inefficiencies.
Bottlenecks and delays can make output less productive, affecting operations, supply chain, and inventory management. Incorrect product shipping, for example, will lead to businesses losing revenue, reputation, and customers.
The silver lining is, this high data volume can be easily analyzed with process mining for x-ray transparency into the reality of actual Order To Cash processes executed in real time. Decision-makers gain insights to why, where, and how problems happens alongside opportunities for better automation.
Perceptif pioneers an approach to unleash business excellence through Process Intelligence Automation. This powerful tool opens doors to improve your operational performance, ensuring competitive advantage.
with Process Mining
Unlock operational excellence with process mining & automation. Businesses unprepared to take the next step in digital transformation will quickly get left behind in challenging times.
1. Cost Reduction
Process mining, when implemented in Order To Cash processes, can bring significant impact on your organization's cost performance.
To strengthen operational flow and minimize deviations that are draining precious time and money, leaders need clear understanding and visualization of actual processes. With this, you can take data-driven recovery action and monitor results.
Identify bottlenecks to run seamlessly. When processes like create purchase order, fulfill and ship order, create and clear invoices are optimized to its best potential, watch as operational costs reduce while wastage is minimalized. Perceptif helps you do this with ease.
In one case study, a multinational manufacturing firm adopted process mining tools and successfully automated 75% of delivery and shortened lead time by 3 days, while reducing up to USD$60,000 in costs. Imagine what it can do for you.
2. Digital Transformation
Process mining facilitates the digitalization and evolution of legacy Order To Cash tools that are still the pillar of mature finance and fulfillment departments.
Though many tech-forward organizations may have gotten rid of lengthy processing times and paper-based procedures, there is still room for improvement and modernization into a growingly digitalized future. Bottlenecks, invoice errors, fulfillment issues, and manual data entry are still happening today.
Can this be holding back your business performance?
Now here is where process mining comes in to streamline complex processes and accelerate your organization's digital transformation with better automation in Order To Cash. Automate customer purchasing journey, sales order, packing compliance, shipping scheduling, and such more effectively by adapting to new technology like Perceptif's, a step up from the legacy tools that have limited capabilities.
3. Customer Satisfaction
As a business, your goal is to effectively convert your product or service into revenue for sustainable success.
Wouldn't you want to shorten order fulfillment and reaction time in customer-facing processes for a positive customer journey? When Order To Cash compliance and processes are out of step like missing goods in shipment, customer experience suffer.
Process analytics with Perceptif empowers you to seek and solve such gaps with ease. All you need is data that you already have, like Case ID, Activity, and Timestamps in every entry log that you want to dive into to improve customer satisfaction.
The more data you input, the better process mining map out your actual process journey.
When you have that mapped out effortlessly in real time, streamline operations with ease and accuracy. Problems are revealed sooner with Perceptif's AI-powered tools, for resources to be optimized to your business advantage. This is where automation can come in to further elevate your Order To Cash process efficiencies.
4. Maximize Compliance
As you know, many problems can occur within Order To Cash processes – between the order of product/service to fulfillment to payment. How does your current system detect non-compliant variations and take corrective action before it grows into bigger, more expensive problems?
You must be able to easily visualize and assess compliance level with conformance checks on event log data - get this done with Perceptif's process mining. You find the root causes of how specific action impacts your team's compliance with data, not guesswork. Compare different execution steps of Order To Cash between teams and individuals, then drive changes.
Monitor how, where, and when your Order To Cash processes deviates in real-time and maximize compliance with Perceptif today.
What Is Perceptif?
Perceptif is a powerful tool to unlock operational excellence with process mining & automation. It harnesses the power of big data technology and AI to pinpoint areas of process improvement. This is applied to multiple aspects of your business to save time, effort, and cost with minimal effort.
Request a demo or subscribe to any of Perceptif's Plans for immediate access. Got a question? Get in touch with our expert team of consultants.