Transform To Perform
One of the key challenges of finance managers is to shrink daily sales outstanding and speed up cash flow. Faster cash flows arms organizations with more working capital and allows them to reduce capital costs. This, in turn, allows business teams more leeway to price products and services competitively, and gain a market advantage.
Automate the entire order to cash process cycle, right from capturing and fulfilling customer orders, to generating and recording receipts and collections in the general ledger, and delivering revenue analytics and reports with Datamatics order to cash solutions. The solution suite includes an automated sales order processing solution, lockbox, receipt application, and a customer portal solution.
Datamatics Order to Cash solution (O2C) enables businesses to strategically define the relationship with customers through out-of-the-box implementations. The built-in efficiency ensures seamless execution such that there is no delay at any touchpoint and eliminates inefficiencies throughout the order to cash process.
Worth invoices processed per year through successful implementation and delivery of enterprise wide BPM automation and digitalization efforts at scale
Invoices processed per year with 99.9% accuracy by using point solutions as well as end-to-end automation models spanning larger geographies
Finance & Accounting Experts both in house as well as on consultant basis to deliver precision solutions in a timely manner
Cost reduction for F&A customers thus ensuring a secondary source of revenue generation in parallel with that from the business as usual activity
Improve order management right from receiving orders to processing and fulfilling orders through synchronized and end to end automation of the order to cash process
Receive orders through an omnichannel presence over phone, email, website, or sales faculty
Integrate shipping and logistics mechanisms for faster movement of orders
Build and maintain a detailed customer master data management (MDM) solution comprising thousands of customers’ records along with the quotations offered, negotiations, supplier contracts, order history, preferred modes of payment, credit limits, and credit worthiness
Avoid data duplication and maintain a single source of truth as an easily accessible and integrated web repository
Ensure timely invoice generation in the customer account with order dispatch and automated follow-throughs
Integrate digital payments including electronic fund transfers, ACH, and credit card and debit card payments
Improve collections through high visibility of Day Sales Outstanding (DSO) as well as invoice short payments
Monitor DSO in real time and initiate automated dunning cycles to fulfil accounts receivables, if required
Quickly match and apply received payments to the respective invoice and customer account through an automated mechanism and auto-update books
Eliminate tedious routine tasks and reduce processing costs involved in remittance matching of hundreds of payments received on a daily basis with advanced technologies such as RPA
Streamline processes and automate reconciliation between bank statements, company accounting records, and accounts receivables
Ensure high visibility of the accounting process and reduce instances of bounced cheques, overdraft fees as well as eliminate any chances of fraud
Expedite accounting procedures and reconciliations as well as ensure timely book closures
Streamline processes and automate reconciliation between bank statements, company accounting records, and accounts receivables
Ensure high visibility of the accounting process and reduce instances of bounced cheques, overdraft fees as well as eliminate any chances of fraud
Expedite accounting procedures and reconciliations as well as ensure timely book closures
Order to Cash O2C are the step-by-step processes that unfold after receiving a customer order for the purchase of products or services in an omnichannel sales environment till the realization of the cash or the payment in the business account and an entry is registered in the accounting books. It describes the financial aspects of sales.
Order to Cash Automation, automates all the processes right from receiving purchase orders from different channels, raising an invoice, delivering the goods, integrating the logistics movement, to receiving the cash payment, in an automated ecosystem.
Business enterprises need to maintain a centralized database about their customers, quotations offered, customer agreements, history of the orders delivered, credit limits offered, etc., as a single version of truth in a central online repository. The process of maintaining this data is called Master Data Management or MDM.
MDM is important as it allows to track the invoice payments received in time and payment receivables that are defaulted. It provides high visibility about the payment outstandings and the Day Sales Outstanding (DSO). It maintains the references of orders delivered, payments received, changes to contracts, positive and negative changes to credit limits, etc., during the customer lifecycle.
Order to Cash Automation results in faster processing and fulfilment of the customer purchase orders or service order and faster payment realization to improve the business enterprise’s cash flow and working capital levels.
As a result of the O2C Automation all bottlenecks and delays in the order processing and payment realization are eliminated while improving process efficiency.
Day Sales Outstanding or DSO is the average time duration in days to receive a payment after a sale is concluded to the customer.
In view of the Time Value of Money, it is preliminary that a business enterprise keeps the DSO value very minimum as time lost in receiving payment is money lost, even if the payment is received sooner or later.
Maintaining a lower DSO is more important for small to medium enterprises in comparison with large and diversified businesses. DSO pertains more towards credit sales and not cash sales.
DSO is a primary indicator of gauging the credit worthiness of customers. Watching trends in customer-specific DSO is an important part of credit management activity in Accounts Receivables.
Bank Reconciliation is the process of tallying the company records with the bank statements and the accounts receivables.
Periodic, bank reconciliation eliminates instances of fraud and ensures high visibility of the business operations in the leadership team and all the other stakeholders.
CFO in the Manufacturing Industry
Company Size: 500 Mn - 1 Bn USD
Head Collection Strategy Analytics & QA in the Finance Industry
Company size: 500 Mn - 1 Bn USD
Senior Executive in the Construction Industry
Company size: 1 Bn - 3 Bn USD
Datamatics is a technology company that builds intelligent solutions enabling data-driven businesses to digitally transform themselves through Robotics, Artificial Intelligence, Cloud, Mobility and Advanced Analytics.