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 – 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 AI’s proven technology—including Digital Assistants and Machine Learning—can deliver the productivity, speed, and customer response needed to achieve World Class performance in your AR Management function.