How Manufacturers can Innovate with Order to Cash Solutions
Manufacturers and Distributors Take Control of their Cash Flow with Order-to-Cash
The Innovating Order To Cash Playbook: Putting Manufacturers And Distributors In Control Of Their Cash Flows, a PYMNTS and TreviPay collaboration, highlights how innovations like order-to-cash solutions are changing manufacturing and enabling more seamless transactions between buyers and manufacturers.
The new report breaks down the manufacturer-distributor O2C lifecycle and shows you how to upgrade the onboarding process while reducing DSO.
Order-to-cash (OTC) is a business process that involves managing the entire process of receiving and fulfilling customer orders, including invoicing and payment collection. For manufacturers, implementing an effective OTC process can help to streamline operations, improve cash flow, and increase customer satisfaction.
Here are some specific ways that OTC can help manufacturers:
- Streamline operations: By automating and integrating various functions, such as order processing, invoicing, and payment collection, manufacturers can reduce the time and effort required to manage orders and payments.
- Improve cash flow: By efficiently managing the OTC process, manufacturers can reduce the time it takes to receive payment from customers, improving overall cash flow.
- Increase customer satisfaction: By providing timely and accurate order processing, invoicing, and payment collection, manufacturers can increase customer satisfaction and build stronger customer relationships.
Overall, implementing an effective OTC process can help manufacturers to better manage their operations, improve financial performance, and enhance customer satisfaction.
Improving the flow of payments and access to cash will become only more important and organizations could face delays in expansion efforts if they are uncertain how much capital they have on hand.
Download the playbook to learn more.