Challenges and Transformations in the Order to Cash Process
Exploring the shift from traditional paper-based invoicing to digital methods like email, the chapter discusses the challenges and complexities in the order to cash process. From automation possibilities to government mandates for electronic invoicing, the conversation highlights Core Centric's solutions for streamlining accounts payable and accounts receivable functions while emphasizing the importance of integrating departments and partnerships for successful payment collection.
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Episode notes
Kevin Appleby and Lee share their insights on navigating the sales world, emphasizing the importance of listening, enthusiasm, and adaptability. They discuss their career paths and the value of relating to customers and understanding their needs. The conversation also covers the evolution of invoicing from traditional methods to digitalization, the importance of standardizing business processes to streamline operations, and the potential for cost savings and improved cash flow through technology and strategic partnerships.
Key topics covered include:
Lee’s career journey from art school to sales, and what he learned about listening being more important than talking.
The evolution of invoicing from paper to digital formats, and the challenges this created for managing multiple data and delivery requirements from buyers.
How integrating accounts payable and receivable can streamline invoice processing and create synergies.
Corcentric’s unique order-to-cash solution that combines people, process, technology and funding to guarantee a DSO result.
Insights from CFO roundtables on the changing CFO role, priorities, pain points and challenges of managing teams and stakeholders.
Whether automation and AI will truly displace large numbers of finance jobs, or simply enhance productivity by automating manual tasks.
0:19:20 – Shared services and outsourcing accounting processes
0:25:40 – Insights from CFO roundtables on challenges and pain points
0:31:55 – Changing CFO role, technology challenges and people management
0:35:55 – Impact of AI on finance roles and automation of tasks
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