Digital finance automation, powered by Artificial Intelligence (AI), is the key to transforming the order-to process and achieving exponential gains. Employing AI in the order-to-cash process can reduce the manual processes by up to 85%, freeing up staff for more strategic tasks. This is very important in the current uncertainty-driven economy the workload across the order-to-cash process—including credit, collections, deductions and disputes, and cash application—is expected to double. Exponential increases in productivity in these sub-processes will enable SSCs to:
Successfully cope with the threats during and beyond COVID-19
Deliver significant productivity benefits in the coming years
Improve cash flow and mitigate risk in the new digital age
Achieve best-in-class performance
Delivering annual productivity and effectiveness increases year after year is just not possible with semi-manual process improvements and modest ERP enhancements, especially in light of the COVID-19, which has greatly increased workloads in key O2C sub-processes. Digital with Automation, Analytics and AI, is the path to an SSC delivering new levels of performance in the digital age.