The impact of digital technology on our personal buying behaviors has reset our expectations for purchasing goods and services. However, this shouldn’t be limited to our experience as individual consumers. In the workplace, we shouldn’t have lower expectations for our experience in interacting with suppliers nor should we allow clumsy legacy technology or inefficient processes to impact our own customers’ experience.
Take, for example, cash collections. Every commercial organization needs to sell its product or service and collect payment for the sale. This is one of the most basic parts of any business. But that doesn’t mean the relevant procedures should be regarded as purely functional. It’s not just about completing the transaction; it’s also about the manner in which it’s done. It’s about how customers are billed and the way payments are pursued and concluded. It’s about relationships as much as results.
In short, the journey is as important as the destination. This paper looks at the benefits of an efficient new approach to order-to-cash (O2C) – not just for short-term cash flow, but also with respect to longer-term effects.