Blog: Capgemini CTO Blog
Having the right solution to boost working capital, collect money fast, seamlessly post cash, and reduce exceptions across order-to-cash (O2C) is incredibly important – now more than ever.
Legacy technology and traditional ways of working in areas such as master data, credit, invoicing, cash, and collections won’t help organizations recover fast enough – and especially from the impact of the COVID-19 disruption in certain industries. Many organizations will struggle to deliver strong performance and results over the next few months, propelling the need for stronger, faster, more flexible teams and better technology to get results back on track.
Enable your customers to buy more and pay faster with AI
The next generation of O2C technology and platforms can deliver the extra velocity needed to gain advantage. We have been scanning the market for platforms and technology that can change the game with O2C outcomes. Out of the solutions we’ve reviewed, the strongest came from providers that delivered data orchestration, automated insights and predictive analytics, and simple self-service functionality for customers to create frictionless processing. Most importantly, they incorporated artificial intelligence (AI) coupled with machine learning to power decision-making.
While most of today’s solutions are really designed to work and manage exceptions faster –– they don’t really eliminate work, with teams often working the same disputes or manual cash posting for the same customers every month. This is a drain on your customer, sales, and cash flow.
To truly improve results and deliver an excellent customer experience you must eliminate friction, stop process exceptions, and clear a path for customers to buy more and pay faster with the right solution.
Next-generation O2C is embodied in an AI-augmented workforce
If you are looking to reimagine the future of your O2C activities – look at it through a different lens. Throw traditional thinking and norms out the window. Start with the outcome in mind and try to design a solution that eliminates rework where multiple parties touch the same invoice, order, or payment more than once.
Figure out how you can eliminate manual intervention across your processes and think end to end. The newer and more interesting tools in the market have moved beyond traditional ways of handling finance activities. They are often modeled around gaming systems and mobile applications, deliver plug and play connectivity, an Amazon-style experience, and standardize processes through a “utility” style platform framework. Next-generation platforms are dynamic, focus effort on critical activities, incorporate behavioral analytics, insights and AI as a standard feature, and deliver augmented intelligence to your teams. An AI-based O2C platform can deliver stronger business outcomes such as 30–40% DSO (days sales outstanding) improvements, 35% great efficiency, and over 60% frictionless processing (digital augmented straight-through processing) when integrated with intelligent automation.
Realizing the frictionless enterprise
Now is the time for organizations to be bold with their O2C vision and roadmap and augment their workforce with AI. The future of O2C is driven by intelligent automation, enabling organizations to “act now” instead of “react later.” More cash, dependable results, and an AI augmented workforce can help organizations struggling with performance to excel. The road to frictionless commerce is closer than you think. It starts with a fully integrated solution that makes it easy for your customers to buy and pay, makes interactions more valuable, and delivers results that you can’t get with a traditional model.
At Capgemini, we are also on a journey to transform our O2C solution and have reimagined the future of our platform. In the current climate, cash is tight, and AI can bring about better and faster decision-making by rapidly connecting dots that humans can’t see, and in a way that excels performance and outcomes. We’re excited about what’s on the horizon. Stay tuned for more on this hot topic!
To learn more about how Capgemini’s next-generation, AI-driven O2C platform is helping to reimagine the future of order-to-cash, contact: email@example.com
Read a paper by Caroline and her team on the practical steps you can take to embrace your O2C transformation journey.
Learn more about how Capgemini’s Finance Powered by Intelligent Automation offering helps you navigate the myriad of products, tools and services, enabling your business to benefit from an intelligent solution that combines automation, digital platforms, know-how and insight.
Caroline Schneider has been delivering and designing O2C solutions for clients for over 18 years. She is passionate about delivering solutions to clients to maximize their working capital through technology, automation, and industrialized process design.