There are multiple factors that will influence the success of your order-to-cash digital transformation project from getting the initial planning stages right to having a plan in place to deliver change post-delivery. In this article I look at 4 key areas which should be considered when developing your roadmap to ensure your transformation runs smoothly and delivers your expected outcomes. The 4D Contact team have extensive experience supporting global businesses on their order-to-cash transformation journey. We provide a flexible outsourced receivables management solution which can help support your in-house team during the transformation period.

For CFOs, investing in the digital transformation of your order-to-cash process can deliver multiple business benefits including optimising operational efficiency, enabling data-informed decision-making, delivering an enhanced customer experience and more.

Despite these clear paybacks (outlined in detail in my previous article “7 Business Benefits of Order-To-Cash Digital Transformation”) many CFO’s still struggle to secure business-wide by in with internal barriers often being driven by fear of the uncertainty of change.  Large scale transformation projects have developed a reputation of being rather unwieldy, of running over schedule and over budget, and often not delivering the outcomes anticipated.

To help ensure your order-to-cash transformation project is a success, we’ve outlined 4 key considerations to address prior to commencing your transformation roadmap.

1 / Create a clear transformation vision tied to overall business objectives.

Most businesses are now aware that they need to harness new emerging technologies if they are going to remain competitive in the future. However, adopting new technology for new technologies sake is never going to deliver a successful transformation outcome. A recent Forbes article, based on a review of 450 senior executives by Celonis highlighted how:

“Almost three quarters, 70%, intend to invest in AI, machine learning and automation. Yet, only 32% intend to invest more in getting better visibility of their processes.  In addition, 79% admit they do not review their internal business processes to understand what needs to be prioritized when setting initial goals and KPIs for a transformation effort.” [1] 

As with all business initiatives, successful digital or technological transformation needs clear, SMART [2] objectives to be both set and measured in order to deliver quantifiable success.

Once you have set your transformation objectives, agreeing with all stakeholders a clear vision of what your evolved business will look like is crucial. After that, the challenge is ensuring effective communication across the business to ensure all staff at all levels are bought in and remain committed.

2 / Establish the right transformation team

Whether you choose to outsource to a consulting agency or bring expertise in-house, it is critical to have the right team with the right skills in place to deliver effective transformation. Executing transformation projects requires a specific skill set and, however great your existing team, it is highly unlikely that anyone will have all the necessary skills and experience to deliver a transformation project.

Transformation often requires a fresh pair of eyes to see beyond the today, to the future potential and then outline the journey to get there.

3 / Engage and integrate cross-functional teams

Most business processes touch multiple functions so working on a transformation project in a functional silo is usually doomed for failure. Consider your end-to-end process and ensure all divisions which are impacted get a seat at the table during the planning and development period to ensure a frictionless project delivery.

4 / Ensure business continuity during the transformation period

It is important to understand from the outset that any transformation project will have a significant impact on the staff involved workloads. Making sure you have the capacity to deliver transformation whilst simultaneously running the day to day business is critical. This is a consideration not only for senior management during the planning and implementation stages, but also for front-line users post-delivery – often the path to more efficient working practices will involve some resolution of existing issues that have been bought to light. Is there enough resource within the team to manage this additional workload?


[1] https://www.forbes.com/sites/joemckendrick/2019/03/23/plenty-of-digital-transformation-but-not-enough-strategy/#3c633d077d68

[2] Specific. Measurable. Achievable. Realistic. Time specific.

[TOFU offer] eBook – A C-Suite executive’s guide to Delivering successful order-to-cash transformation
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A C-Suite executive’s guide to Delivering successful order-to-cash transformation

A review of the considerations and tactics critical to achieving successful transformation within your order-to-cash function

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[TOFU offer] eBook – A C-Suite executive’s guide to Delivering successful order-to-cash transformation

Download our eBook

A C-Suite executive’s guide to Delivering successful order-to-cash transformation

A review of the considerations and tactics critical to achieving successful transformation within your order-to-cash function

Download

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