Financial operations technologies such as O2C process automation platforms are transforming the way modern financial teams operate. Enabling a new level of insight, analysis and transparency over legacy processes, the right O2C software solution can provide considerable benefits for CFOs.

In fact, with an agile solution in place, CFOs can gain visibility and intelligent insight over their business in a way that allows them to make strategic, data-informed, decisions that will ensure O2C processes are continually optimised; driving cost efficiencies and revenue growth.

Looking at specific benefits, by adopting an O2C process automation solution, CFOs can secure the following benefits:

1.   More Manageable Role

For CFOs, increasing responsibilities, large volumes of hard-to-manage data, plus limited time, creates an increasingly challenging role. With a lack of clarity and no time to adjust, CFOs can find themselves in a role where it’s difficult to deliver actionable, forward-thinking insights; which can leave the business struggling to adapt or grow in changing financial markets.
Credit and collections process automation helps to clarify this complex cycle by:

  • Minimising the time and effort spent on transactional tasks and information gathering
  • Maximising time for the CFO to identify risks and opportunities, and respond to changing market conditions, with data-informed decisions, that deliver resilience and growth.

2. Increased Control Over Risk and Economic Volatility

In a post-Covid world, largely forecast to see countries across the world experiencing an unprecedented recession, it has never been more important for CFOs and financial teams to have the predictive technology and tools in place to deliver a strategic, informed approach to risk management.

Order-to-cash automation solutions can help to deliver this. By enabling clarity over customer behaviours and historical data, and by generating predictive algorithms that identify opportunity and intelligently predict risk, they guard against a range of scenarios, for example, upturns or downturns in market conditions, changes in a customer’s business and more. As a result, CFOs are able to predict how to optimise potential revenue, whilst minimising bad debt risk.

ONS GDP monthly estimate, UK: April 2020

3. Enhanced Efficiency Across the Business

Traditional legacy (typically siloed, non-digital) processes, can create substantial efficiency blocks across a business and leave teams with a lack of visibility and insight. order-to-cash automation can prevent this issue in a number of ways, by:

  • Providing a clear perspective over traditionally dense and widespread data, allowing for more intelligent, optimised business decisions
  • Automating repetitive tasks, thereby allowing finance teams to focus more on tasks that deliver greater value.

As a result, CFOs and the wider business can better optimise processes to drive growth and cut cost.

4. Greater Intelligence to Ensure KPIs

Increasing revenue, decreasing outgoing costs, delivering on the needs of the board, deciding on profitable investment strategies, and ensuring transparency over wider company financial performance are all priorities for CFOs.

With the right solution in place, combining real-time reporting, automation and analytics in one central platform, CFOs stand to benefit from greater visibility, insight and efficiency – so can make more informed decisions and predictions to address (and exceed) these KPIs.

5. Business Continuity and Data Integrity

Ensuring data integrity, quality and security is crucial if CFOs are to make informed decisions and implement clear business goals.

With order-to-cash digital transformation in place, this task is immediately clearer. Real-time analytics and reporting simplifies complex processes, ensuring instant, accurate and compliant insight, enabling proactive, informed decisions across the business – and of course as a result, delivering greater customer satisfaction.

Why Order-to-Cash Process Automation?

With the right financial operations technology in place, CFOs are empowered to deliver the best benefits back to their business, gaining the transparency and data-driven foundations needed for greater efficiency, more actionable insight, increased profitability and enhanced risk mitigation.

Text written by Richard Brown .

CRO of Global Debt Recovery & Customer Contact provider 4D Contact.

Interested in receiving more news and views from 4D Contact?

Subscribe to our weekly newsletter

[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

You may be interested in these other recent articles

Three key factors for optimising cash collection

18 August 2022

Effective credit management is when the three key factors critical for optimising cash collection – systems - processes and people – are delivered successfully.

Read more

How to maintain cash flow in an economic downturn

7 July 2022

With high-level inflation, low-level growth, and no short-term resolution to the Russia - Ukraine crisis apparent, economic uncertainty is increasing. There are now serious concerns…

Read more

Volatility in the Global Economy: The True Cost of Covid and Conflict

23 June 2022

An overview of what is driving the current volatility in the global economy and what policy makers can and will do to stabilize it.

Read more

How Credit-Control can Improve Customer Relationships

25 May 2022

Outlined in this article are 3 ways customer-centric credit-control that can improve your customer experience, securing customer loyalty and your cash flow.

Read more

European Credit Management Industry Trends for 2022

12 May 2022

European credit management teams will be hoping for an ease from the pressures of maintaining cash flow during the pandemic. However, with the economic outlook…

Read more
[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

Book a consultation

Discover the benefits your business could achieve with a bespoke, outsourced contact solution.

Our brief consultations are designed to outline the impact your organisation could achieve, whatever your starting point and unique requirements.







    Register to receive updates

    Enter your email to receive regular news and updates.


      Our contact details

      4D Contact: London

      Barratt Smith Brown & 4D Contact
      Bentinck House
      3-8 Bolsover Street
      London
      W1W 6AB

      4D Contact: Malaga

      Four D Contact S.L.
      Camino de las Cañadas 1D
      Centro de Negocios Martín Buendía
      Planta 1ª, Oficina 17
      29651 Mijas Costa
      Málaga, Spain

      4D Contact: Dublin

      The Black Church
      St Mary’s Place
      Dublin
      D07 P4AX

      Global Sales Enquiries:

      © 2022 4D Contact. All rights reserved  |  Privacy
      Registered in Ireland, number 626576  |   Website by Jeremy Hickman