BPM Helps Supply Chain Firms Boost Profitability
Business process automation and data visibility improve profitability at logistics firms, with the automation of the order-to-cash cycle helping to reduce errors, streamlining collections and improving working capital. Automating order entry, accounts receivable, invoicing, dispute resolution, collection and cash application processes in the order-to-cash cycle is most beneficial to enterprises with high transaction volumes, while improving customer relations. Close customer contact in particular, is improved with the use of web-based tools for data visibility, in that customers can search and access near-real time inventory data as wished.Automating an enterpriseÆs accounts-receivable process achieves transparency, even if discrepancies have to be resolved manually. While businesses with high transaction volume benefit from eliminating manual processes from order-to-cash cycles, data matching, or the linking of a payment to its invoice and order numbers is seen as the best
way to exorcise invoices and errors from the settlement process. In an invoice-free system for instance, EDI 214 data could be used to update a clientÆs supply chain system with shipment status information, before integration into a customerÆs account payable system and into an enterpriseÆs receivables system. Related Links:
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