In today’s economy, businesses are reducing spending and trimming workforces. This sometimes means you can only afford to keep employees and processes that are integral to keeping the business afloat. With modern advances in technological processes, it is more than possible to thrive during such a negative time.
By implementing a single solution for distribution, you can automate your entire ERP platform to model the “order-to-cash” business process. This seamless, integrated solution approach provides a single touch point for everything you need in your business and will ultimately meet all your enterprise needs. Although new business systems require investment, you’ll find the ability to do more with less will enable you to maximize your profitability.
In order to effectively automate your order-to-cash process, it is crucial to not disturb any practices that are running smoothly. Only look at what goes wrong – the exceptions.
“If it ain’t broke don’t fix it.”
Of course, that means you sometimes have to fix what’s broke…
Streamline and automate every task possible. If employees do not fully understand the processes that are their responsibility, there is chance of missed opportunities and duplicate work being completed. Since each employee plays a vital role in the company, it is important to have each and every job documented with detailed descriptions. You can continue to streamline communications by using more email (invoices, statements, order confirmations). Email is very efficient and FAST. Faster invoice delivery means faster payment. Systems that allow for specific document delivery options, such as the utilization of email and defining timing and delivery rules, help you streamline and automate effortlessly.
Make it a point to evaluate the whole picture and always try to think of ways to leverage your technology and utilize what you have. Recognize that money invested in new technology will in turn cut out numerous expenses – paper, printing, postage, travel. By using a more advanced system, you will quickly see a Return on Investment. Remember, it is not a bad thing to take a few risks. Once a new system is implemented, employees automatically gain greater access to information. Management needs to take an active role in this, as it is counterproductive to manage blindly. By enabling field workers to stay connected with Remote Access, managers can stay up to date with their Key Performance Indicators (KPIs) giving you an edge over the competition. When you eliminate a frustrating system and streamline processes, it benefits clients and employees alike. By getting everyone on board, the company as a whole can identify and address system shortfalls. Remember – happy employees, happy workplace, happy clients.
All employees need to be on board and on the same pages with the changes that will be made. This takes place in multiple forms such as standardizing processes and setting system rules. Remember, a weak link can ruin a whole chain. By developing and maintaining a plan for systems & processes, you can effectively keep track of one of your biggest costs, inventory. Out with the old and in with the new. Feedback will be necessary at this point in the process and the easiest way to do so is to keep customers involved, ultimately helping you determine what’s working and what isn’t. An easy way to do this is to make use of free online surveys that guarantee professional feedback. System rules will also enable automatic requests, workflow and approvals and management by exception.
- Streamline and automate every task possible
- Make it a point to evaluate the whole picture and always try to think of ways to leverage your technology and utilize what you have
- All employees need to be on board and on the same pages with the changes that will be made.
The bottom line: Effectively automating your order-to-cash process might be just the thing to revive your business. By streamlining your process for receiving and processing customer sales, you will provide visibility over your whole business, control order fulfillment, turn your inventory into cash, and most importantly maximize total profitability.
By Third Wave Business Systems, Microsoft Dynamics GP Partner out of New Jersey