Order To Cash Solution: A Step-By-Step Guide To Saas Credit Management


Organizations constantly seek to identify, improve, and strengthen business processes. To this end, deploying Software as Service (SaaS) credit management solution is strategic choice for organizations for whom order-to-cash is critical.

SaaS credit management can provide an up-to-date, automated, and user-friendly system for the day-to-day management of accounts. This guide will walk the reader through the basics of setting up and managing an order-to-cash system with SaaS credit management solution.

Step 1: Research Vendor SolutionsThe selection of an appropriate vendor is an important first step for organizations that are ready to onboard SaaS credit management solution. Different vendors can offer different product tiers, feature sets, and integrations. Careful research of the various vendors will ensure the right fit for the organizations existing technology infrastructure, current and emerging needs, and business objectives.

Step 2: Assess the organizations NeedsPrior to onboarding the solution, it is key to evaluate the current processes, systems, and personnel that are engaged in the order-to-cash process. Make note of the systems and capabilities already in place, and consider any gaps or areas where an additional layer of automation or control might be beneficial. This assessment will provide the infrastructure for configuring the SaaS credit management solution?s parameters to suit the organizations order-to-cash process.

Step 3: Configure the SystemOnce the vendor is selected and the internal setup assessment is complete, the system is ready to be configured. Integrating with existing systems and correctly setting parameters such as payment terms, risk levels and credit limits are essential to ensuring the system operates at peak efficiency. It is important to consult the vendor?s user-manual to identify any necessary steps to configure the solution.

Step 4: Set Up Credit ProfilesThe credit profiles form the basis of the organizations SaaS credit management solution. Credit profiles include all information relevant for the credit decision process, such as customer URL, credit reference provider, credit limit and payment terms. All of these parameters must be configured according to the onboarded solution’s parameters. Additionally, organizations can assign different credit references, providing comprehensive understanding of the customer before the credit decision.

Step 5: Establish Business RulesThe set of business rules that drive the order-to-cash process should be reviewed, documented and implemented into the SaaS credit management system. The onboarded solution should have specific rules settings to ensure accurate and consistent order-to-cash processes. Rules settings are based on the organizations internal policies and compliance guidelines, and must be configured to match the organizations needs.

Step 6: Test the SystemBefore making the system available to users, it is important to thoroughly test the order-to-cash process. Test cases should cover the various ways the system is expected to be used by administrators and operators, as well as how the system will react to unexpected inputs. Any issues uncovered during the testing should be addressed prior to launching the system.

Step 7: Train the UsersOnce the system is tested and ready to launch, it is important to provide users with appropriate training. During the training, users should have the opportunity to gain deep understanding of the system, its functionality, and the processes behind it. This step is crucial for the long-term success of the solution and should not be overlooked.

Step 8: Monitor the SystemThough step is last, it is far from least when it comes to maximizing the value of the SaaS credit management system. As with any automated system, the SaaS credit management solution should be monitored to ensure it is running smoothly. In the event any issues are discovered, the organizationshould have an issue resolution process in place to quickly address any system issues.

Ultimately, onboarding SaaS credit management solution provides organizations with powerful tool to accelerate the order-to-cash process while simultaneously reducing the cost of manual processing. After walking through the steps outlined in this guide, organizations can be confident that their new SaaS credit management system is efficiently and effectively running and managing their order-to-cash process.