How Closed-Loop Commerce Networks Transform the Order-to-Cash Cycle by IOFM
The Solution for Full Visibility Across Your Network
Accounts receivable (AR) inefficiencies are the top AR challenge identified by businesses surveyed by IOFM in 2015. But what’s the best approach? These businesses are still plagued by paper: Nearly half of large corporations receive payments from other businesses mainly as checks, according to the Remittance Coalition. And 49.7 percent of businesses use spreadsheets to reconcile their accounts receivable. Numbers like that are not a recipe for success. But a closed-loop commerce network is.
IOFM’s white paper, “How Closed-Loop Commerce Networks Transform the Order-to-Cash Cycle,” clearly outlines a strategy for defeating the challenges of manual, paper-based O2C processes. By using a private, closed-loop commerce network, GPOs and other businesses can reduce costs, accelerate cash flow, and enhance financial visibility through:
- Credit and collections management
- Electronic payment remittance
- Credit default responsibility
- Dispute management and resolution
Download the white paper from IOFM to understand how a centralized view of your AR activities leads to success.