Order To Cash Automation Solution: A Guide To Easy Credit Management


For CFOs and other Executives considering an Order To Cash solution, managing credit is an essential part of the process. There are many risks inherent with such an order to cash operation and robust solution is required to enable safe, efficient, and error-free credit management. The purpose of this guide is to present comprehensive overview of the features that one should consider when evaluating order to cash software for credit management.

First and foremost, any corporate credit management software should have comprehensive workflow management features. This is necessary for maintaining strict process control, ensuring data accuracy, and ensuring that all rules and procedures are followed. The software should also have embedded credit and collection logic, such as automated dunning and payment processes, along with dispute resolution workflows and exception processing.

The software should further have the ability to integrate with multiple external systems, including processing external file formats associated with the order to cash process. This would include importing payments and invoices, and exporting appropriate notice documents and reports. Its ability to integrate with existing systems like accounting software and enterprise resource planning (ERP) solutions are also beneficial.

Many order to cash software solutions come with highly configurable digital assistant capabilities, enabling intelligent data extraction and analysis. This should include the ability to automatically assign credit limits, identify potential risks, and adjust payment terms according to each customer. Additionally, customers should be able to monitor the entire credit management workflow in single dashboard, with access to robust suite of risk management, reporting, and analytics features.

For corporate finance departments, security and privacy of data is another priority when evaluating order to cash software. reputable solution should include robust authentication and authorization, with role and permission-based access to data and analytics, as well as audit trails to ensure accountability and prevent fraud. Furthermore, the software should be compliant with the latest international standards on data security and privacy, such as the Payment Card Industry Data Security Standard (PCI DSS).

The user experience is also essential when selecting an order to cash software. The software should be intuitive, with an easy to use, intuitive interface and clearly marked icons, buttons, and menus. The system should support mobile and desktop devices, with modern and responsive design optimized for both mobile and desktop, and it ishould support wide range of languages and countries.

Finally, any corporate credit management software should come with comprehensive customer support. This typically includes 24/7 hotlines, email, and chat support, as well as comprehensive library of user guides and helpful articles. Comprehensive, hands-on training services are also highly beneficial for any CFO or executive seeking an easy to use order to cash solution for credit management.