The order-to-cash (O2C) process is a defining part of a company’s success, and it also plays a big role in driving an organization’s relationship with the customer. While many companies focus the bulk of their resources on the period up until the customer places an order, optimizing the O2C process can yield remarkable benefits that ripple throughout a business.
Cash cycle consists of multiple sub-processes including:
- Customer order is documented
- Order is fulfilled or service is scheduled
- Order is shipped to customer or service is performed
- Invoice is created and sent to customer
- Customer sends payment /Collection
- Payment is recorded in general ledger
General problems faced by the Companies
- Not able to collect the outstanding as per the payment terms
- Team sometimes forget to generate invoice on time, especially for milestone based billing
- Not having a follow up mechanism which prompts, escalates and sends automatic reminders.
- Collection become an even bigger challenge when a sales person leaves
- Attributing interest cost to delays in a systematic way to the person responsible, and make a meaningful impact on his incentives.
- Spending a lot of time in retrieving documents
The good news is that the various functions involved in O2C can be improved significantly through the use of an integrated software solution. You can streamline your O2C process from beginning to end to serve customers faster and more effectively, minimize errors and delays, and ensure performance data has maximum impact on the company.
QUIKRCOLLECT INTELLIGENT COLLECTION MANAGEMENT SYSTEM
TAKE THE HASSLE OUT
UNLOCK YOUR CAPITAL
SPEED YOUR COLLECTION
QuikrCollect is a unique integration of different aspects of order to cash cycle. Workflow based Sales Order Processing brings a discipline in order processing. Milestones are used to track important deliverable to be achieved for realization of payment. Combination of Period Based, Milestone Based and Unspecified billing plans provide complete tracking of billing over the lifecycle of the project. Follow Up is a layer built on top of this information to track the progress at different stage. Payment Collection module helps match payments with invoices with least user effort.
With all the teams working together on the same TAT based system, all updates are available to all the members at all time.
For more details visit or website or mail us at
WWW.INTEINFONET.COM / www.quikrbiz.com / www.quikrcollect.com
divya@intecinfonet.com
or call at 9599300976