The Order to Cash process encompasses the entire life cycle of a transaction: From the agreement you have with your customer, to the work to be done, to fulfilling the order, to the invoicing and collections of payments. Environmental services organizations, large or small, often have challenges making this process as simple and trackable as it should be.
After all, we all want to be shown the money!
Orders to Cash – The challenge of the traditional approach
How you execute this cycle directly impacts your revenue generation, customer satisfaction, cash flow, operational efficiency, and financial visibility. If you don’t care about improving your order to cash process, you should! Yet “traditional” orders to cash processes are plagued with risk of financial impact. Why is this?
Too many sets of hands-on costs more. Manual processes cause inefficiencies. Unnecessary segmentation of related processes increases complexity. Configurations that are too complex, resource intensive, and error prone. Complication slows things down! And the traditional process has too much paper! That means lost documents, printing and filing costs, and records retrieval nightmares.
The orders to cash workflow is logical. But if you execute it the “old school” way it is overly manual, paper-based, and staff-heavy. This impacts the bottom line in a negative way.
How does AMCS Platform accelerate and improve this process?
Based on your feedback, AMCS Platform has been incrementally improving this process over several releases and will continue to do so. AMCS Platform Summer 2023 release has made significant strides in addressing these issues, especially (but not limited to) the digitalization and automation of invoicing, payment collection, and tracking/visibility. AMCS has automated and streamlined these processes specifically to help you generate revenue faster.
What did we evolve and improve in the Summer 2023 release of AMCS Platform?
Our goal is to provide our customers with a clear, actionable understanding of their business. We want to empower you to automate and perform financial tasks seamlessly, transforming the orders to cash into an effortless, efficient, and error-free process. We want you to free-up and re-assign the staff-hours you save to other business tasks.
Here’s a brief overview of this releases’ evolution
The AMCS Platform Summer 2023 release introduces facilities that have shown a 3x increase in the speed of invoice generation. A benchmark we built shows that 20,000 invoices and over 50,000 details can be processed in less than 15-minutes.
New facilities in the Summer 2023 release:
- Streamline the invoice cycle. Key invoice configurations are simplified and merged, making the invoice cycle easier and quicker to manage.
- Provide a Click and Go job scheduler. Invoice batches are templatized and fully-automated.
- Leverage an AMCS-hosted Cloud Automation for Invoice and Document Delivery. The platform now takes over with a traceable, secure, replicable document delivery system hosted in our cloud.
The new Cash Collections Management module provides:
- Automated reminder notices for past due balances. This policy-based facility improves and auditability and can show when notices were sent, received, and opened.
- Bulk-suspend of delinquent customers to help address the slow cash flow and reduced revenue and margins of delinquent customers and bad debts.
- Cash Collection Dashboard (coming later in Summer 2023) is a role-specific dashboard provides credit agents and supervisors with the control, insights, and automation. It was designed with user empowerment in mind and embodies flexibility, visibility, and automation, granting users the ability to customize collections processes according to their unique workflows.
What it all means to you
The AMCS Platform Summer 2023 release provides environmental service operators an easy to automate and perform orders to cash. With new, easy to access and understand dashboards of clear, actionable, up-to-date insight into your business you can better focus on customer service and growth.
To learn more view the Summer Release webpage or contact a representative.
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