The Power of the End-to-End O2C Platform vs. Point Solutions
Determining whether a point solution or a holistic platform is the right fit for your finance team can be daunting. Is your team ready for an end-to-end solution that can be configured specifically to your business, or are they more suited for a point solution that solves a very specific business problem in the short-term, but is more rigid and limited in its functionality?
Both options can be beneficial to meet your current Order-to-Cash (O2C) challenges, but only one can scale with you, offer additional value as your needs evolve, and transform your finance team into more dynamic and agile business partners.
O2C Complexities
O2C performance is not ideal in most organizations. More companies are slowly realizing that O2C has to drive results on two fronts. The O2C process must focus on the customer experience while at the same time increasing working capital. However, many current O2C processes have higher costs and inefficiencies built into them because they entail manual steps that are often exacerbated by disparate and inflexible point systems, siloed data and operations where IT and finance are not working collaboratively.
The Power of the O2C Platform
Platform organizations have a competitive advantage over businesses that are managing Order-to-Cash with fragmented point solutions where humans interface with systems to make those connections appear seamless and integrated.
The future of finance starts with a frictionless O2C platform that can scale to keep up with the pace of change and transformation, drive synergies, minimize risk and help you implement a customer centricity model and mindset.
O2C Performance Transformation
O2C transformation by deploying a platform leads to measurable results:
- A 1% to 3% increase in sales revenue from an O2C platform with automation tools that provide actionable insights and boost the capacity of sales reps.
- A 15% to 30% cost savings with the improvement of back-office efficiencies from e-Invoicing to cash application and dispute management.
- Up to 50% reduction in excess DSO by improving time-to-invoice at the beginning of the cycle.
- An increase in customer satisfaction with a simplified order and invoicing experience, real-time dispute resolution, greater process transparency and a seamless and consistent customer experience.
- Improved workforce satisfaction because work is less repetitive, employees can be reallocated to more strategic tasks, complexity is reduced and there’s more collaboration between finance and adjacent departments.
- Better visibility & data transparency enabling businesses to monitor and analyze performance metrics holistically while also leveraging real-time data analytics to make dynamic data-driven decisions.
To learn how Sidetrade’s fully integrated end-to-end O2C platform can make an immediate impact on the financial health of your organization, email our finance transformation experts at: info@sidetrade.com.