Order to Cash Management
Managing an efficient and reliable Order to Cash (O2C) process indicates that your company is a competent entity.
To manage the process, from sales order right through to customer payment, as best possible, every function of the business must be involved from sales right through to manufacturing and fulfillment.
Optimal management of O2C requires associated employees to have access to accurate, real-time information. Automation and also electronic invoicing should be prominent features of the overall process. But ultimately deriving the type of ideal results from your O2C process requires a combination of internal collaboration, technology and process management.
Celtrino and O2C
Imagine the time that could be saved if you no longer have to manually push an order from one stage to the next. The good news is that the whole O2C process can be improved significantly with the use of an integrated solution such as Celtrino’s. Automatically take the initial order data, send it on to fulfilment, then to billing, before recording payment. By doing so you will be able to streamline your whole O2C process to serve your customers faster and more effectively, minimising errors and delays, helping to positively impact your company.
The first step of the O2C management process is order management, when the customer places an order. As soon as the purchase is confirmed, your business is responsible for the management of that order. With Celtrino’s TradeHub platform your orders will be recognised in the system and progressed through to fulfillment stage.
Confirmed orders subsequently sent for fulfillment are then in a standardised digital format as it is important that any person who begins work on an order can clearly understand the relevant details. Electronic orders don’t lend themselves to the types of inaccuracies and clarifications that paper orders do.
Data from the initial order and the fulfillment must be supplied to the shipping function so it can organise shipping around the carrier pickup schedules and help get order(s) to the correct customer on time.
The invoicing system then needs to receive the correct information from employees so that invoices can be automated with the correct information and sent as soon as possible. Any issues around invoicing can lead to cash problems that affect the entire business. So it is beneficial for the business when accurate invoices are managed and sent out according to schedule.
Good management and optimization of the O2C process helps a business efficiently deliver real value to their customers. Celtrino’s integrated solution helps any company to improve their O2C processes to enhance the customer experience.