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.
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Susan Kelly
Susan Kelly is a business journalist who has written for Treasury & Risk, FierceCFO, Global Finance, Financial Week, Bridge News and The Bond Buyer.
