Superpowers don’t have to be unattainable – or limited to comic books. Every successful business has superheroes. These are the people who have the capacities your organization needs to go from ordinary to extraordinary smashing the competition, taking the business to new heights, and leveraging innovation to go beyond and faster.
We’re seeing a new cohort of Finance Leaders with superpowers emerge from the wake of the recent economic challenges; superheroes who are foresighted, powered-up, and successful on the whole Order-to-Cash process.
But these Finance heroes weren’t always so super. Before they gained their powers, they were faced with Order-to-Cash challenges that you might also recognize. Are you faced with complex and manual billing processes? How many days are your teams spending each month managing orders and invoices? Do you suffer from high staff costs, payment delays, high DSO due to backlogs, increased error rate and poor visibility?
If any of this sounds familiar, we have identified for you the top 5 superpowers needed to effectively become an Order-to-cash Hero.
Do you dream of an invoicing process so seamless that you’d almost forget it’s there? Work smarter, not harder; focus on results by making the invoicing and order management process invisible through automation. Automation means you can cut out the manual work involved and redeploy resources to focus on mission-critical finance activities instead of back-office operations, allowing you to scale rapidly without adding more staff.
2. Customer centricity
Can simply adapting invoice formats to specific requirements help you increase customer lifetime value? Invoices shouldn’t be one-size-fits-all. Convert invoices from your back-end format to the format your client prefers. By using e-invoicing, you ensure that the invoices and supporting documents you send are tailored to your client’s preferred format – helping you get paid faster, while providing best-in-class customer payments experience and unparalleled visibility.
3. Ultimate efficiency
Do you know how the speed of your invoice’s journey affects how quickly you’re paid? Expedite the invoicing process and reduce DSO with automated orders and e-invoicing. Electronic delivery means your invoice lands with your customer instantly, and you eliminate financial risk and ensure compliance through approval workflows and role-based views. Changes to regulation? Updates to taxation? No problem – e-invoicing means you can maximize business agility to easily adapt and deploy new processes at speed, which leads to faster secure payment.
4. X-ray vision
What if you could be a fly on the wall when your customer receives your invoices, to see their next steps? Gain super insight into your invoice’s journey with e-invoicing. Payment methods, entities, currencies, subsidiaries, and geographies are all combined and reconciled in real-time for instant and real time visibility. In addition, your customers can provide acknowledgements of invoice received and update approval and payment’s progress status, giving you increased visibility over the entire workflow.
5. Genius intelligence
Looking for more insight into your e-invoice process? From now, the best Order-to-Cash decisions are data driven. With all invoice data in a single platform – regardless of how many different systems you invoice from and the ways invoices are delivered to your customers – you gain real-time visibility on detailed transactions and reconciliation reports, integrated within your Accounts Receivable system. By providing the finance team with a consolidated view of all AR accounts, it’s quicker than ever before to accelerate the financial close.
Does the thought of having these powers makes you excited to ascend to Order-to-Cash Hero status? A comprehensive, custom automated order processing software and e-invoicing platform help you manage expectations of upfront invoicing, reduce unnecessary errors and mitigate the consequences of late payment. Sidetrade is trusted by Finance leaders all around the world to deliver a unique, holistic AI-powered Order-to-Cash platform – which now includes e-order and e-invoicing management.
It’s time to do business with confidence. Join the AI revolution here.