<img height="1" width="1" style="display:none;" alt="" src="https://dc.ads.linkedin.com/collect/?pid=321162&amp;fmt=gif">

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.

target

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.

laptop

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.

piggybank

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

Cycle-Time Optimization

Standardize the process to avoid time-consuming deviations and identify stages ready for RPA, improving quality rates.

SUCCES STORY: Chemical Manufacturer Realizes $1.2M Savings

Benefits of an Optimized Order to Cash Process

Reduce order cycle time

On-Time Delivery

Expose bottlenecks in your process to streamline the entire O2C cycle.

Sales Order Changes Reduction

Sales Order Changes Reduction

Identify the root causes of unwanted changes in your orders.

business

Faster Payment Collection

Improve important metrics like process lead times or cash flow.

global

Process Standardization

Cut down on inefficient process variations that slow you down.

search

Process Compliance

Monitor your O2C process and lower the risk of operational issues.

hand-gesture

Rework Elimination

Find where rework happens and eliminate repetitive tasks.

Stages of Order to Cash Process

minit-stages-of-order-to-cash-process-4

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.

O2C compliance and process excellence with Minit

O2C process challenges

The Biggest Challenges of an O2C Process

  • O2C process not standardized
  • A high number of errors in order fulfillment
  • Continuous issues in delivery fulfillment
  • A high number of order changes
  • The increasing cost of O2C process
  • Deterioration in Cycle time (CT) and Right First Time (RFT)
The O2C best practices

The O2C Best Practices

  • Avoiding cash flow deficits by streamlining the entire bill-to-cash process
  • Automating invoice process
  • Reducing a DSO (Day Sales Outstanding) metric
  • Minimizing the amount of manual intervention in the process
  • Eliminating unnecessary deviations, bottlenecks and reworks in the process
  • Clearly defined SLA 

How Can Process Mining Improve
O2C Process? 

minit-rework-order-to-cash

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.