We help your company improve customer satisfaction and streamline operations by optimizing the customer's operational process from the moment of sale until the time the money is received in the bank account (i.e. Order-to-Cash)
An efficient order-to-cash process is an important prerequisite for a company’s success: we work with you to ensure that operations work efficiently internally and externally, cash is realized without delays and unnecessary working capital is not committed to receivables. Transparent and clear processes achieve better customer satisfaction through a fast and error-free order-supply chain, and potential problems can be identified and addressed quickly with the right kind of business reporting. Profit and cash flow should not be put at risk by inefficient and unreliable processes.
Greenstep's experienced experts help both small and large companies to comprehensively analyze all stages of the process from order to delivery and find the optimal solutions for them, with appropriate monitoring, reporting and forecasting. We help your company choose the best software according to your strategy to streamline processes - and sometimes small is more beautiful, i.e. even small “steps” are enough to make it more efficient. Our experts have experience in almost all industries and are thus able to compare and give best practice recommendations to find the best solutions at different stages of your company’s life cycle.
4 examples of streamlining the order-to-cash process from different levels
1. From order to delivery - efficiency planning
The order-to-cash process starts with effective contract and order management. Basic customer and product information must always be up-to-date and well-organized so that after the sale has taken place, the delivery process can be put forward as quickly as possible, and there is no ambiguity as to who has ordered and what. The right kind of customer sales tracking tool (CRM) can assist in managing customer data for both large and small companies. Integrated with the company's other systems or tracking, it is possible to automate and significantly speed up sales order processing towards delivery. In a larger company, the sales tool with its customer register is part of the ERP system, and there is no need for integrations and data transfers between the systems. In a smaller company, the “small is beautiful” principle is a good starting point.
In order to get delivery to the customer as quickly as possible, the company must also have an efficient purchasing, warehousing, production and delivery process. Greenstep's experts help your company build an efficient entity, including the management of purchasing and delivery processes, also considering business and operational efficiency metrics. For example: inventory management, which ensures both product availability and optimal inventory turnover time (tying up less cash) and timely business and financial reporting (expenses follow turnover in a timely manner).
2. Invoicing
Delays and errors in invoicing quickly drives a company into payment difficulties. Whether it’s automatic or manual billing, it has to correct first time with no errors. This also enables high-quality cash flow forecasting and financing planning. Greenstep's experts ensure that billing processes are efficient and that basic billing information is billed reliably. We also assess the reliability of processes from a risk management perspective and make comprehensive improvement proposals, considering change management.
3. Customer credit and receivables management
From the risk management perspective, it is important that whenever a customer is granted credit in the form of a payment period, the customer's creditworthiness must be assured. For all new customers, it is a good idea for the company to have pre-defined terms and conditions under which payment terms are granted. The fulfillment of payment terms must also be actively monitored. Greenstep's accounting services also include tracking receivables.
Greenstep's experts help you create a payment terms policy for your company and design payment terms that take into account the industry and geographical location. We help plan both the payment period and any discounts offered and late fees charged. Our process development team also helps your business automate billing to avoid errors and speed up the process - even in a small business, it’s beneficial to focus on the essentials and automate the basics of the economy.
4. Monitoring and reporting
Order-to-cash is inseparably linked to a company’s business and customer relationships, and its effectiveness must be constantly monitored. Problems in one area of the process easily lead to inefficiencies in other areas of the business as well. Greenstep helps customers create effective monitoring methods and the right metrics to evaluate performance. We compare operations with the best players in the industry and propose improvements for parts of the process that require development. A very important measure is, for example, the turnover time of trade receivables, which measures how long it takes on average for an organization to receive a payment. It is also very important to monitor the movements of goods in order to be able to maintain an optimal stock turnover. Small actions are often enough for development work, and Greenstep can help with that.