Improve Your Order to Cash Process
Don’t let an inefficient Order to cash (OTC) process lead your company towards revenue and customer loss, or even reputation damage.
How Can Your Order to Cash Be Improved?
Dive deep into your Order to Cash process with the help of Minit Process Mining software. Analyze and visualize how effectively you convert your company's products or services into money.
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Business Process Discovery
Reveal and eliminate poor on-time delivery, late payments, a high number of order changes or delays in order fulfillment, with ease. -
Conformance Checking
Visualize how your everyday process execution differs from what you have expected. Find existing deviations that deteriorate your O2C process and fix them. -
Resource Optimization
Discover ways to better use resources and save costs. Weed out process redundancies, optimize workload distribution, identify bottlenecks and outliers. -
Cycle-Time Optimization
Standardize the process to avoid time-consuming deviations and identify stages ready for RPA, improving quality rates.
Stages of Order to Cash Process
The cycle begins with the system receiving orders from the customer (via email, salesperson, online, etc.). Afterward, the company might conduct a credit review of the customer before accepting the order.
The order is documented and the company begins the task of fulfilling the order. Once the product has been shipped and delivered, or the service has been fulfilled, the invoice is created and sent to the customer for payment.
After the customer has made the payment, the accountants note the entry in the general ledger.
How Can Process Mining Improve O2C Process?
The O2C process is made up of several steps, while each of these steps is essential for effective business operations.
ERP systems like SAP, Oracle, and others record all events throughout the entire Order to Cash process. From this data, Minit Process Mining recreates a map of the OTC process to easily identify where mistakes occur, when they happen, which departments are involved, or which customers follow which process variations most frequently.
By discovering specific inefficiencies and bottlenecks in your Order to Cash process, you can improve the cash flow of your company and safeguard its constant growth.
Case Study: Chemical Manufacturer Realizes $1.2M Savings
P2P Compliance and Process Excellence with Minit
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Standardize Your P2P Process
- Set your KPIs for the end-to-end process as well as for individual steps.
- Monitor your P2P process continuously. Ensure compliance, and that your process is within defined KPIs.
- Uncover deviations from the process and ensure compliance.
- Measure the impact of process deviations on the overall process.
- Identify causes of lost productivity due to rework and changes.
- Identify potential fraud or gaps.
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Globalize P2P Best-practices
- Uncover existing automation gaps.
- Evaluate performance of vendors and identify best-in-class vendors.
- Ensure compliance with buying policies and use of preferred vendors.
- Improve methods and tools to support operations needs.
- Improve business review/approval capabilities.
- Optimize working capital including discounts/rebates.
- Cost savings through compliance and spend visibility.
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