Automating Order-to-Cash Solves a Lot of Problems

Benchmark research confirms that a majority of businesses have their data spread across too many systems. With no single system of record to track sales from quote to contract to invoice to payment collection, companies must deal with the complexity of sifting through multiple versions of the truth and manually-entered, error-prone data. Sound familiar?

Manual processes, built on spreadsheets or emails, are the source of multiple issues:

• Delayed product launches

• Slow order fulfillment or provisioning

• Complicated revenue reconciliation

• Fewer sales and renewals

Poor management of data in the order-to-cash process is a hidden threat to your business, and one that is all too common. According to Ventana Research, over half of companies report that their data is spread across too many systems and is not timely enough or clean enough to use.

Robert Kugel, CFA, SVP and research director at Ventana Research, recently gave a webinar to talk about their findings and offer solutions. He explains that the ideal system would connect the data flow and automate the business processes at each step in the sales cycle, from quoting to collecting payment. The best way, according to Kugel, to speed provisioning and ensure data is accurate and consistent is to implement an automated quote-to-cash solution that acts as a single system of record.

Automated billing solutions:

• Keep data accurate, up-to-date, consistent, and controlled

• Reduce customer billing issues

• Simplify revenue recognition accounting

Listen to this OnDemand webinar from Ventana Research, “Automating Order-to-Cash Solves a Lot of Problems” to learn how managing your data through an automated billing solution, like TRACT, can dramatically improve processes throughout your organization.