Benefits of Workflow Management Software to O2C Cycles

With major transformation in the technology field, a lot of advancements have developed to make work easier. For instance, in the manufacturing field, specialists have introduced a workflow management software for companies. The software is commonly used for the following features:

  • Managing and accessing your workers
  • Monitor your contractors
  • Monitor performance for starters
  • Helps the company collect data and access it
  • Generation of up-to-date reports for analysis for improvement of workflow while minimizing costs where possible
  • It helps increase productivity through creating appointments which are sent to workers or contractors mobile phones.
  • Offers real-time data on operations that allows the business management to plan ahead to reduce losses.
  • Increased productivity due to equipping workers with all the information they need to work efficiently.
  • Employees can move between appointments efficiently with the right tools and resources made available.

The software does not only help the business achieve the above results, but it also aids in O2C. So, what is O2C? Order to Cash commonly known as OTC is the process of receiving and processing customer sales. The process covers both business-to-business (B2B) and business-to-consumer (B2C) sales. The cycle consists of the following sub-processes:

  • Order to Cash CycleReceiving orders from the customer. The order can be made in person, via email or through a call.
  • Some companies may need to perform a credit review of the customer before they accept the order.
  • The order is then documented
  • The company plans on the way of fulfilling the order or service
  • The order is shipped to the client, or the service is performed
  • Invoice is then created and sent to the customer
  • The customer sends payment, and it is recorded in a general business ledger.

The process is very tiresome and time-consuming and without the right software it could lead to losses. That’s where the workflow management system comes in. Modern businesses are experiencing more and more competition, especially in the manufacturing field. To fully succeed, a company should try as much as possible to automate its Order to cash cycle to enable easy attainment of goals. Order to cash cycle is a key determinant to the success of modern companies.

Easy management of files

Managing sales reports, market presentations, and drafts of budgets can be very tiresome if they are done manually. It is an immense challenge for the company to manage and store files. Some of these files are, therefore, lost or misplaced which could lead to company losses. The software keeps all the records and files to avoid losing valuable information. The workflow management software can indicate which tasks are to be performed in the company and who is to perform them. With these, everyone is accountable to whatever task they are given. This, in turn, reduces the need for management to intervene in petty issues unless required.

Reduced need for workforce

Using the manual way of OTC cycle makes the company hire a lot of workers to perform different activities. However, with workflow management software, the company will only need to employ one computer expert to perform all the tasks. The software allows employees to work on non-repetitive tasks and thus expanding their skills. With the automated system, the work such as filling customers’ orders can be done with ease and without human errors. Using the software is a very efficient way to save on expenses while increasing productivity. If the company doesn’t want to fire some workers, it can use the automated system to motivate employees and improve their overall morale.

Effective communication

The automated system is an effective way to improve communication between workers or between the customers and the company. With the system, it is easier to communicate with the clients quickly regarding their orders and mode of payment. The customer can easily make changes relating to the order with a guarantee that it will be effected immediately. The system also allows the workers to have a clear overview of what is happening in the company and what will happen in future.

Reduced OTC duration

Using the workflow management software increases the process of ordering and delivering of products and services to customers. The management can set up a reminder in the software to notify all the employees if the deadline has been missed or it is approaching. By doing this, employees can easily achieve the target to meet the deadline. If the customer observes that the company meets its deadline on time, he/she will develop trust in the company and even refer his/her friends to the company. Introducing the software in any manufacturing company is a good way to increase revenue.

Do you think it’s time to switch to the automated software for your company? Well, don’t be afraid there are over 8 million 120 thousand pages on Google regarding automating your company’s software. It might be hard to decide on the best software for your business. Getting the best software for your business is the best guarantee that you are standing on solid ground. There are two challenges associated with adopting a new management software. First, it is intimidating and challenging to adapt a new technology and second it is hard to find a system that meets all your company’s needs.

Introducing this new workflow management software technology is a good way to keep up with the new world of manufacturing. It is also a good way to save on expenses while increasing your profit. For a successful manufacturing venture, it is a requirement that every business should have the system.