Top performers in customer-to-cash are ready to confront the challenges ahead. Over the past three years, they have extended their advantage by optimising and automating processes.
To survive the tech-driven future, these top performers are more adept at shielding themselves from exposure to financial risk associated with receivables. This is especially important when, as is the case today, organisations face economic uncertainty and market volatility.
The data in this report provides a good gauge of the differences between today’s top performers and peers.
The Role of Technology
Top performers in customer-to-cash digitised more of their operations. Since they send 100% of dunning notices electronically, they collect a greater share of receivables within terms.
With 40% of their credit-review process automated (vs 15% for peers), the amount of time-consuming, error-prone manual work is reduced
Automation levels are expected to increase over the next one to two years. For example, while only 16% of the credit process is fully automated today, 67% of organisations are either planning an implementation, have deployed a pilot or are in the midst of a rollout.
Where does your company sit?