Accounts Receivable (AR) errors happen to the best of us, but those involved in the order-to-cash process understand the importance of accuracy and ensuring that data is reliably shared and customers are billed appropriately.
Fortunately, the process doesn’t need to be painful, as cloud and the integration of all processes – from CRM to SCM and Accounting – into AR cycles has enabled professionals to tackle the many-step order-to-cash cycle, vastly reducing errors.
Analyst Scott Pezza of Blue Hill Research recently dug into the world of order-to-cash a bit deeper to uncover important lessons to help companies reduce errors and frustrations. They examined the implications of poor, manual AR processes, using one of our own customers who found success integrating their AR activities onto the Salesforce Platform.
Before adopting FinancialForce solutions, this healthcare technology company previously relied on a server-based self-hosted small business accounting solution. It quickly became labor-intensive to manage and it lacked sophisticated and custom reporting tools needed for accuracy. The company was already using Salesforce.com for CRM, which they ultimately integrated with FinancialForce SCM for order management and FinancialForce Accounting for their financial management and AR activities.
After integrating all order-to-cash processes on one single platform the customer explained to Blue Hill that they now have an instant, big picture view of an order’s status which they noted would not have been possible with their old, disjointed systems in place.
Through this case study and research, Blue Hill shared important lessons, specifically highlighting the sheer importance of the “interconnectedness of business functions” as well as:
- Understand the customer’s perspective
- Focus on Integration to eliminate errors
- Communicate early and often
For more information, the entire report can be accessed here.
About Blue Hill Research
Blue Hill Research is the only industry analyst firm with a success-based methodology. Based on the Path to Success, Blue Hill Research provides unique and differentiated guidance to translate corporate technology investments into success for the three key stakeholders: the technologist, the financial buyer, and the line of business executive.