Order to Cash (OTC) can be far more intricate and time-consuming than many enterprises realize. It is a tough slog which entails complex processes from receiving purchase orders to invoicing the customer. Siloed operations and several inefficiencies slow down the pace of OTC processes. Enterprises face difficulties in managing high order volumes which ultimately lead to high level of deductions. Here are some leading factors that contribute to this cash slowdown:
High Order Volumes and Workflows: At first small workflows might seem to be a small issue, but they add up to chaos when aggregated. High volume orders coming from the internet, phone calls, and faxes can be difficult to manage. These orders differ between customer to customer and their data fields also vary from form to form. Heterogeneous orders with separate workflows have their own set of business rule and logic and require frequent data entry and processing to get right.
Heavy IT Intervention: Successful order management requires IT teams at the enterprise and partner end. IT intervention and huge computation setup is required to architect process flows or map data conversions. Every partner connection and process flow becomes another IT project. Core business operations are side-tracked till the time process flows are built by the IT teams.
Lack of Visibility: Multi-GB data and countless formats require end-to-end visibility. Teams generally don’t have visibility to orders and file formats stored in backend ERP systems. It is pretty hard to view day-to-day orders and files. These gaps needs to be filled for getting a detailed view of transactions.
Adeptia streamlines the O2C process and lifts companies out of the morass. The solution provides rich workflow capabilities to automate complicated O2C processes in a way that they can be tracked, monitored, and optimized.
Automated Process Flows: Adeptia provides self-service capabilities for building O2C workflows without coding. Business users get the unique ability to set up process with drag-&-drop ease and monetize complex B2B ecosystems. Rich workflow automation capability streamlines B2B data integration and data interchange between partners. With Adeptia, operational users get access to a library of best practices to set up processes from scratch. They can also apply business rules and exception handling errors to process business data in specific ways.
Data Standardization Triggers: Adeptia offers robust features for mapping data between source and target elements. The solution standardizes data so that it can be automatically entered into the backend. Automated data standardization eliminates manual data entry and accelerates time to revenue. Enterprises get a full conversion of data to the preferred format.
Large File Data Ingestion & Streaming Capabilities: Adeptia’s large file data ingestion solution is a breakthrough innovation for processing multi-GB data in simple and efficient ways. Enterprises generally use developer tools to process multi-GB data from different sources. This approach is cumbersome and error-prone as the data needs to be parsed and aggregated post-processing. Appliances can solve this problem but they are costly and code driven. Adeptia large file data ingestion solution addresses this need with a software-based approach that enables smart movement of multi GB data in structured or unstructured formats.
IT Governance: End-to-end governance enables users to manage & track high order volumes and changes made to B2B network. Adeptia provides dashboards which provide greater visualization to sales trends over a period of time. Users can track errors and fix them before they become bigger and snowball. Master data management capabilities enable operation users to compare multiple transactions, eliminate errors and set up a single source of truth.
Contact us to learn how Adeptia can help you accelerate the pace of Order to Cash (O2C) process.