Four ways to achieve process excellence
No single path leads to the creation of a top-performing customer-to-cash process. Finance executives must pursue several strategies simultaneously, e.g., end-to-end process ownership, leveraging analytics and upskilling talent. The degree and breadth of process automation have a dramatic impact on the efficiency and effectiveness of the process. The maturity model below illustrates the four levels of technology maturity within the customer-to-cash process and the characteristics of each (Fig. 9). It can help customer-to-cash process owners to assess their own organization?s technology maturity and identify what steps they need to take to move to the next level.
HighRadius Integrated Receivables Software Platform is the world's only end-to-end accounts receivable software platform to lower DSO and bad-debt, automate cash posting, speed-up collections, and dispute resolution, and improve team productivity. It leverages RivanaTM Artificial Intelligence for Accounts Receivable to convert receivables faster and more effectively by using machine learning for accurate decision making across both credit and receivable processes and also enables suppliers to digitally connect with buyers via the radiusOneTM network, closing the loop from the supplier accounts receivable process to the buyer accounts payable process. Integrated Receivables have been divided into 6 distinct applications: Credit Software, EIPP Software, Cash Application Software, Deductions Software, Collections Software, and ERP Payment Gateway - covering the entire gamut of credit-to-cash.