Order- to- Cash in Post modern ERP environment
ERP is a jack of all trades. ERPs must be sufficient to optimize a business to the next level, with the rising demands for flexibility and agility to suit the needs of customers.
Order-to-Cash is one of the most essential functions that work in tandem with ERP. Order-to- Cash leaders have an opening for optimization.
The journey to having a hybrid ERP architecture and one-premise solutions starts with a complicated first step of selecting solutions that integrate seamlessly and work in synergy.
The top concerns that are considered while selecting the right solutions include:
1. Finding the right technology- It’s still difficult to choose the best-in-class solutions based on the latest tech that can be tailor made to suit the business requirements.
2. System integration and data security- choosing the best security feature to suit your business operations.
3. Cross- functional communication- disconnected system enforcing additional manual effort for communication.
Benefits of AI -Driven Solutions
AI over the last decade has evolved and, in the event, helped boost operational efficiency and reduce costs of operation.
The following are ways in which AI helps put your Automated Receivables in the right direction:
1. Eliminate the cost leaks of deductions.
AI applications in deductions management enable you to predict if a deduction is valid before you start working on it. This goes a long way in saving time researching, gathering documents, and collaborating than validating deductions.
2. Predict Consumer Behavior while Collecting.
AI helps in predicting your customer’s payment date and shape the collecting strategy needed.
Automated correspondence for others thereby increasing the total value of accounts managed.
- Post modern ERPs represent more agility and flexibility which has been a long-time need for many businesses.
How does Churpy chip in this:
The journey, however, still begins at finding the right solution for your business and the first step is finding the right AI assessment.
At Churpy we offer a product, Churpy Fin Data API, that will assist you to automatically harmonize all your multiple bank transactions into your ERP system, in real-time.
Our data pipelines involve connecting to accounting software ERPs. Our user-friendly and developer-friendly dashboards can help you predict customer behavior and eliminate costs of deductions and collections by unveiling accurate and verifiable data.
Please book a demo with us today and explore more benefits and scale new heights with us.