Order To Cash
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Order To Cash
Order-to-cash (O2C) is a fundamental strategy that encompasses the complete cycle of events from the time a client places an order to the time the customer pays for it. It includes everything from order management to invoicing and accounts receivable, making it one of the most important aspects of a company’s operations.
Digital invoicing, and digital shipment management play important roles in optimizing the O2C process.
Order processing, invoicing, payment processing, and account reconciliation are all covered by O2C. It entails numerous departments and systems, such as sales, customer support, finance, and supply chain management, all working together to guarantee the order fulfillment process runs well. The next trend in the O2C process cycle is automation, which will make it simpler for companies to address issues such as order diversity, manual invoicing, and siloed processes.
O2C’s ultimate objective is to provide a great client experience while increasing revenue and decreasing operating expenses.
Under O2C we cover the following processes:
CUSTOMER ORDER
Our O2C process ensures that an order submission is easy and quick for the customer and thereby a seamless experience.
ORDER FULFILLMENT & SHIPPING
We ensure that the customer’s order is prepared and shipped as per agreed upon KRAs.
INVOICING
An invoice is generated and sent to your customer to be paid.
ACCOUNTS RECEIVABLE
Outstanding invoices are flagged and reviewed by accounts receivable professionals.
CUSTOMER PAYMENT
Receive customer payments and provide customer service to settle any disputes.
PAYMENT RECORDING
After receiving payment for an order, accounts receivable records it the general ledger.
REPORTING
Reporting the order-to-cash process is necessary in order to obtain performance data. This data provides valuable insights into the efficiency or otherwise of your O2C Process.
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