One Simple Trick to Speeding Up the Order to Cash Cycle

The order to cash cycle, from the moment a customer makes an order to the moment you receive payment, can be handled partially from your ERP system. Handling quoting, order processing, shipping and logistics can all easily be entered and automated, however, you’re missing out on powerful accounts receivable functions. Although your ERP system is great for some of the order to cash cycle, you truly need a solution that will automate invoicing and customer communication to ensure you get paid on time.
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Two Must-Have Business Systems for Faster Order to Cash

order to cash business systemsMany businesses who have a hard time quickly moving through from invoice to cash application struggle not because they’re doing a bad job or because they have customers who are unwilling to pay, but because they lack standardized processes and automation. There are many moving pieces and parts and disconnects throughout the order-to-cash cycle where small mistakes are common and cash flow tends to get stuck- manual processes are usually the root cause.
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Speeding up the Order-to-Cash Cycle with Automated Credit Management

According to industry research from PayStream Advisors, 39% of invoices in the United States are paid late, 17% of customers do not adhere to credit terms, 52% of businesses ask for extended payment terms, and the average DSO is more than double the average payment terms! Statistics like these are exactly why businesses are putting more and more focus on carefully managing customer credit, but that’s a time consuming process that often creates order-to-cash cycle bottlenecks.
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14 Clues your Order to Cash Cycle is Broken

The order to cash cycle spans your entire business; it involves resources from marketing, sales, accounting, inventory, manufacturing, distribution, supply chain, logistics, and customer service. Due to the complex nature of the order to cash process and the complexity of transferring information from one department to the next. With so many departments and people involved, there are a huge number of places where your process can get stuck or slow down. How do you know you’re having order to cash cycle problems? There are usually a few telltale signs.
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How SMS Improved The Order-to-Cash Cycle by 40% with A/R Automation

Automated Accounts Receivable CollectionThere are many factors and layers that impact an organizations ability to quickly convert a quote to an order, an order to an invoice, and an invoice into cash. Some of the ways you can increase your order-to-cash cycle are more complicated than others, but a few of them are simpler than you might think. Believe it or not, invoice collection, is one of the easier areas to improve; All you need is the right tool for the job. Here is a story of one customer who was able to improve their days sales outstanding (DSO) by 40%, speeding up their order-to cash cycle  by 27 days!
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Best-In-Class Techniques for Order to Cash Improvement

Yesterday on the blog we outlined the pressure being put on organizations to improve order to cash and where it’s coming from- but what are they doing to make change happen? In this article we take a look at more industry research from Aberdeen showing which techniques best-in-class organizations are using to get their money to the bank faster.
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4 Reasons CFO’s Are Under Pressure to Improve the Order-to-cash Cycle

As a business executive how often do you stay away at night worrying about whether or not your payables have been paid? Probably not nearly as often as you worry about whether you have money coming in on time! While making sure you’re payables are in order is important, many companies put a much larger focus on the money coming into their business, not going out. The specific focus is on optimizing the order-to-cash cycle. According to Aberdeen Research, CFO’s and financial executives are under increasing pressure to improve their overall order-to-cash cycle for the following reasons:
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Back to Basics: The Order to Cash Cycle

order to cash

What is the order to cash cycle? Order to cash, also referred to as O2C, OTC, or the quote-to-cash cycle, is the term used to describe the set of businesses processes for receiving and completing a sale. The order to cash cycle begins when an order is placed and ends when payment is received and that payment is recorded in the General Ledger. Keeping in mind the process may change slightly from one company to the next, the order to cash cycle when broken into stages and sub-processes looks something like this:
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