The Hackett Group, in its Q4 2021 study, asserted that Digital World Class performance delivered 34% higher efficiency and a 40% reduction in errors while enabling 75% of staff time to be devoted to analytics and problem solving in the Order-to-Cash operations.
A key driver of Digital World Class performance, AI is utilized widely throughout the Order-to-Cash and AR Management functions in two basic ways:
a) Intelligent Document Processing (IDP): To extract and convert unstructured data from a wide range of sources and documents into a usable, structured format, as well as to eliminate human data reading and keypunching.
b) Automating Data Processing: To automatically process 70 â€“ 90% of the data in structured files for key sub-processes such as credit, cash application, deductions, and collections contact.
Download this eBook to learn how AIâ€™s proven technologyâ€”including Digital Assistants and Machine Learningâ€”can deliver the productivity, speed, and customer response needed to achieve World Class performance in your AR Management function.