In the ever-evolving landscape of finance, the order-to-cash (O2C) process stands as the critical financial backbone of every organization, connecting businesses to their customers and ensuring seamless transactions, from order placement to payment receipt. Yet, despite its fundamental role, the O2C process is often managed with manual processes and antiquated tools, leading to major cash flow challenges and high operating costs for organizations worldwide.
These traditional methods are prone to errors and are ill-equipped to handle the intricacies of modern business transactions. Common tools like Excel spreadsheets or disjointed ERP systems leave finance teams struggling to keep pace with evolving demands.
In their quest for solutions, organizations often turn to advanced technologies like artificial intelligence (AI) and machine learning (ML) to streamline and optimize their O2C workflows. However, the market is crowded with empty promises and subpar solutions that fail to deliver tangible results. Many platforms claim to improve O2C, but upon closer inspection, their capabilities fall short, leading to wasted investments, disappointing outcomes, lack of adoption, and a pervasive sense of skepticism among finance teams that AI can help them.
Aimie’s evolution
Amidst this backdrop of challenges, meet Aimie, Sidetrade’s O2C AI expert. Aimie is not just another AI; she’s the culmination of years of innovation and expertise, designed to improve how businesses approach their O2C journey. Seamlessly embedded throughout the entire O2C process and fueled by the largest real-time O2C data lake in the world, Aimie leverages cutting-edge AI trained on O2C domain-centric data. This enables Aimie to unravel crucial information about buyers and tailor prescriptive recommendations for the unique needs of each Sidetrade customer, transforming O2C operations.
Let’s look at a few real-life examples available to users of Aimie today.
- Company One: Using the financial objectives set by the finance team, Aimie analyzes and predicts payment behavior, settlement dates, and the best collections strategies that will reduce DSO, improve overdue percentages, and increase automation.
- Company Two: Aimie prioritizes real-time risk indicators and analyzes credit lines when developing her recommendations.
- Company Three: She’s capturing remittances from multiple formats and sources, analyzing payment activity and trends, and creating dynamic profiles with unique buyer insights.
Thanks to our large R&D investments over many years, and the more recent incredible advancements in AI, we’re proud to share that Aimie’s AI is now also generative. Here’s what we’re excited to unveil in 2024:
- Gain insightful summaries in seconds: By analyzing previous communications, Aimie can instantly provide crucial insight like level of urgency and customer sentiment, even in your preferred language
- Auto-generate responses most likely to result in success: Aimie can analyze a mix of multiple data points and generate a response to inquiries and disputes most likely to result in success
- Quickly understand your Ageing Balance Report: Sidetrade users, from collections analysts to strategic finance leaders, will be able to get a financial summary of a customer that allows them to understand their financial status, and hone in on various categories based on their goals, such as the customer’s financial KPIs, an overview of the collection activity, insightful benchmarking data, and an overview of outstanding invoices
- Unravel more insights with “Ask Aimie”: Aimie will be able to generate responses to your teams’ questions and prompts, unraveling critical insights and providing an even deeper understanding about your buyers
A paradigm shift in how enterprises approach order-to-cash optimization
But the true measure of Aimie’s impact lies in the transformative business outcomes she delivers. As organizations embrace Aimie, they unlock the true potential of their finance teams and pave the way for sustained growth and success.
With Aimie on your team:
- Increase cash generation rates
- Reduce wasted actions
- Improve customer relationships
- Receive instant alerts notifying your team of changes in behavior across Sidetrade’s network
- And optimize with order-to-cash performance benchmarking against industry peers from Sidetrade’s real-time data lake
Redefine order-to-cash success with Sidetrade
In a market flooded with promises of transformative technologies, Sidetrade stands out as a true pioneer, and we’re committed to redefining order-to-cash success and equipping finance teams with the tools they need to thrive in today’s dynamic business landscape.
Are you ready to transform your O2C process and unlock the full potential of your finance team? Join us as we embark on the O2C revolution that redefines success for finance teams.