Did you know finance shared services best practices can accelerate cash flow transformation?
As the speed of business increase with digitalization and globalization, back-office finance shared services transformation needs to be accelerated as well. This can be achieved by leveraging modern technologies and intelligent applications. Next-generation receivables management solutions leverage big data, predictive analytics and smart automation to drive smarter, faster and more cost-effective order-to-cash process.
BIG DATA + ANALYTICS + AUTOMATION = EFFICIENCY + COST SAVINGS + CASH FLOW
Why Shared Services Transformation?
- Lack of operational control and global visibility: Disparate financial systems, multiple locations, multiple currency, spreadsheet-based reporting
- Need for better control on cash flow: Unpredictable cash flows, high borrowing costs, late and cumbersome cash receipts forecasting, high variances
- Struggling with poor balance sheet metrics: High AR balances, low receivables turnover ratio, high days sales outstanding (DSO), poor cash flow
- Growing bad debt issues: Decreasing profitability, high deductions, increasing dispute volumes, slow dispute resolution times
- Need to optimize operational costs: Standardize processes, reduce/optimize headcount, consider outsourcing
This video talks about the next-generation financial shared services best practices for modernizing your AR operations. Watch it to learn how modern technologies such as Big Data, Predictive Analytics and Smart Automation can be used to achieve game-changing performance levels.