Streamlining Order-To-Cash Operations With Automation Software


Effective order-to-cash (OTC) operations require swift order fulfillment and efficient collection of payments from customers. Manual processes can be ineffective and impede overall sales performance. Automation software that automates the OTC process can reduce costs associated with sales order entry and collection, and provide superior customer service experience.

For any finance executive, it may seem daunting to select and implement an automated OTC solution to improve their companies order fulfillment and collection performance. What should executives look for in OTC automation software?

Robust Order Fulfillment Process

Choosing the right OTC automation software starts with considering whether the software is designed to fulfill customer orders effectively. The system should incorporate electronic data interchange (EDI) with customer and vendor systems. EDI reduces reliance on manual data entry, increases overall accuracy, and greatly speeds up order processing. Furthermore, the software should deliver features such as customer and product master data entry, invoicing functions, credit limit control, order pre-authorization (e.g., the ability to deny orders due to credit limits), pricing configuration, order consolidation, and more.

Efficient Collections Management

The software must also be able to manage collections effectively. Automation solutions should offer features such as customer credit and collection management, customer accounts receivables, reports on customer credit history, and paperless document/PDF generation that supports customer invoicing, accounts receivables, and payment records. This should allow for automated email notifications to customers prior to payment due dates.

Integrating with Accounting Systems

OTC automation software should interact seamlessly with existing accounting systems and other enterprise systems, so that all financial transactions are reflected in the financial database in real time. When integrated with companies accounting system, the software should provide executives with the ability to check customer balances, sales orders, and tax information.

Customer Service and Support

When selecting an automated OTC solution, finance executives should task customer service and technical support professionals to evaluate the different solutions on offer. Generally, customer service representatives are major user group and play an important role in the OTC process; they must understand how to use the system and be comfortable with it. Additionally, support teams should be able to provide helpful insight into software functionality and how it interacts with other systems to ensure seamless operation.

Ultimately, finance executives should take the time to thoroughly research the available automation solutions. Take advantage of free trials and demos to evaluate the features and functionality of the software. quality automation solution should feature robust order fulfillment and collections management tools, as well as seamless integration with existing accounting systems. Support for customer service should also be made available upon implementation. By opting for an intelligent OTC automation solution that can support orders and collections effectively, executives can boost the performance of their operations and improve customer satisfaction.