Automated O2C and P2P solutions – A necessity for sustained value chains

 ERP systems are good and they are imperative for facilitating business and automation. However, investment in subsequent versions offers only minor incremental upgrades. Instead, building automation solutions on top of these systems is much easier and cost-efficient. For example, order to cash (O2C) and (P2P) procure to pay solutions using Robotic Process Automation (RPA) and Artificial Intelligence (AI) very well extend the capability of ERPs.

What are the need for O2C and P2P solutions?

Manual processes involve delays. They in turn result in high sales outstanding. Receiving payments on time from the concerned parties is required to pay your suppliers and protecting the working capital. Whereas making the payments early allows to avail discounts.

ERPs offer standard functionalities. However, with fast-changing business landscapes, agility assumes high importance. Automated order to cash solutions (O2C ) and P2P solutions ensure strong and resilient value chains.

Business impact of automated O2C and P2P solutions

·     Enables a just-in-time culture, which in turn improves the net worth as well as the national economy

·     Eliminates process bottlenecks

·     Builds an electronic data exchange across the value chains

·     Lowers operational expenditure across the supply and value chains

·     Proliferates management by exception culture

·     Institutionalizes distributed operations, which can be scaled up

·     Use of AI algorithms boosts further efficiency

·     Helps to automate dunning as per defined criteria

·     Acts as a deterrent for partners to exceed their credit limit

In summary

Contactless automation across the O2C and P2P processes offers high visibility that builds a JIT culture. Business Process Management software solutions such as RPA and AI add agility and flexibility to existing IT infrastructure and streamline the business processes.