Cost pressures are pushing companies to improve their order-to-cash processes, according to a recent Aberdeen Group study, which found that companies are streamlining processes in accounts receivable as well as adopting automation.
Aberdeen's study of 140 companies shows that 67% say they are making improvements in order-to-cash to cut overall costs, far more than the 29% who cite the risk of customers' not paying and another 29% who say they are responding to customers' requests for better service.
Aberdeen divided the companies into best-of-class, middle and laggard, based on the percentage of past-due receivables, the portion of invoices that require manual intervention and the amount of time it takes payments to clear.
Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.
Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
- Exclusive discounts on ALM and Treasury & Risk events.
- Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.
*May exclude premium content
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
