Order to Cash Process Improvement
Order to cash is one of the organisation’s most crucial and potentially complex processes that touches every function in an organisation. Yet often, it is discounted by executives. Essentially, this is a set of business processes that involve receiving and fulfilling customer requests, whether for goods or services.
There are many ways this system can become overcomplicated, costly and inefficient. As it is common for organisations to have different systems, the misalignment between the two systems can cause problems when a merger or acquisition occurs. Similarly, when organisations expand into other countries, their cash systems may require adaptation to local procedures, regulations, and practices. This causes people pain resulting in low morale, disengagement, sickness and people choosing to leave the business.
Does any of this sound familiar to you?
An effective order to cash system is fundamental to operational excellence customer experience and can even increase revenue by reducing additional expenses caused by inefficiency. There are three measurable differences once an effective order to cash system is introduced:
- Reduction in the cost to serve
- Increased staff morale and engagement
- Increase in customer satisfaction.
Luckily, Masters in Minds have years of experience simplifying and streamlining organisations’ orders to a cash system, specialising in creating uniformity across global and expanding organisations. Has your organisation got outdated systems/processes that waste time, resources, and money? Or have you grown your organisation so fast that the methods that were once appropriate are now failing? If so, get in touch today to see how we can help.
Business Benefits to an optimised order to cash process
~ Reduces elapsed time to serve a customer
~ Fewer handoffs
~ Fewer steps
~ Fewer errors
~ Less waste
~ Less re-work
~ Less effort to serve
~ Higher morale and engagement colleagues
~ Happier and more satisfied customers
~ Reduced cost to serve
~ Scalable processes
~ Increased profit margins
Contact our team today, who can share some case studies and build your business case for change.