SAP S/4HANA 2021 – Order-to-cash boosted by Intelligent Automation
2021 has been a tough year for many companies. The global pandemic has impacted the global economy and created a lot of pressure, especially on Order-2-Cash Organizations. The risk of unpaid invoices has significantly increased, the workload of collections teams have gone up and DSO targets in many cases couldn’t be met.
So what are the lessons learned of this for 2022 and beyond, that Order-2-Cash professionals should take from this?
Reducing the credit risk ever since has been a strategic priority for O2C organizations. Nevertheless, the pandemic has outlined the importance of proactively addressing and reducing the risk. In order to deal with increasing volumes and the high volatility, it is absolutely critical to ensure that risk calculation is happening completely autonomously and that externally available information especially from external rating agencies can be easily consumed and leveraged to continuously measure risks and take actions whenever needed.
Increase Intelligent Automation
In order to handle the increasing transaction volumes and enable scalability, embedded automation plays a vital role in the Order-2-Cash process. Starting with automated processing of bank statement information leveraging machine learning, the processing of remittance advice information with the help of deep learning, the automated conversation with your customers using chatbots or the integration to third-party portals using RPA Bots, automation is key to success. In order to be able to handle the complexity of those different automation technologies the order-2-cash process, a state of the art solution has to provide native automation covering all of those elements and provide the flexibility to adjust it to your needs.
Holisitic Order-2-Cash strategy
Last but not least, a state-of-the-art order-2-cash organization requires truly integrated solutions, that allow you to access all key information, starting from the invoice or order to the very down-stream processes of Treasury and Cash Management. Siloed perspectives on parts of the process create subsequent issues and keep you from leveraging the full potential.
Organizations need to innovate continuously to stay ahead of the competition. Use the extended value of SAP S/4HANA 2021 to make the next step forward.
Check out this product page to learn more about Order-2-cash software.
If you want to learn more about new features in SAP S/4HANA Finance Release 2021 please tune in here: url.sap/finance21