Under “normal” circumstances, optimizing back-office business activities such as paying bills, processing orders, and collecting cash don’t top the average organization’s priority list.
But as we’re finding out now - just as we did back in the Great Recession of 2009 - no company makes it out of an economic downturn scot-free.
For many cash-compromised CFOs and COOs, their attention has rightfully turned toward minimizing the supply chain disruptions that negatively affect working capital.
According to a recent survey, nearly a quarter of executives and their companies are prepared to turn the current crisis into an opportunity with an intent to “accelerate” deal volume.
This is either a moment to seize or sustain a competitive advantage or risk damaging the financial health of your organization across the supply chain.
Our advice? Seize the opportunity now and embrace order management digital transformation.
Companies can’t afford continuous supply chain problems … literally. A single misstep can lead to serious consequences down the line.
While the challenges may be complex, most originate from a single source: poor order management. Some of the biggest supply chain challenges in a manual order management environment are:
At the core of automation’s value is its ability to reduce or eliminate time-consuming, manual activities and give back valuable time to staff to work on more strategic tasks.
A single digital solution can automate the routing, processing, and archiving of documents and promote collaboration through interactive tools.
Powered by robotic process automation (RPA) and artificial intelligence (AI), process automation drives efficiency and added value throughout organizations by:
There are a lot of misconceptions about the role of automation in businesses - here’s what it isn’t:
Transforming The Supply Chain
Imagine consolidating all of the order management to a single, user-friendly platform without staff members having to perform repetitive, time-consuming manual tasks. Orders are automatically entered into the workflow, data accurately extracted, created in the ERP, tracked from start to finish, and electronically archived for future retrieval. That's automation in a nutshell, but here's a breakdown of what exactly it entails:
If you’re hoping to create an environment of supply chain excellence, it all starts with achieving efficiency in order management. With an order management solution, orders are automatically entered into the workflow, data is accurately extracted, created in the ERP, and tracked from start to finish, then electronically archived for future retrieval.
That’s automation in a nutshell, but here’s a breakdown of what exactly it entails and what to look for in a best-in-class order management solution.
Email triage: CSRs are often tasked with opening up every single email that comes in, determining if the email is an order, a question about a product, a status request, etc., then manually moving or forwarding that email to another team member - nbsp;all of which can easily become very repetitive and time-consuming. AI-driven email triage examines the content of the email subject, message body, and attachment so that emails can automatically be routed to the correct recipient.
Anomaly detection: Anomaly detection is based on AI and historical data. Customer usually has certain habits and they usually order similar quantities of a given item. If they suddenly send in an order with a quantity of 100, when they usually order 5, that is something a CSR might want to be aware of. Anomaly detection saves a lot of time and money by being able to identify anomalies before the order is created to prevent errors.
Information management: Industry-leading solutions offer Customer Information Management and Supplier Information Management modules that create a 360-degree view of suppliers and customer behaviors for companies. From invoices and regulatory and financial documents such as contracts to orders, invoices, payments, and claims, information is instantly and easily accessible.
ERP integration: Best-in-class automation solutions integrate with any ERP system or business application while also providing simultaneous integration with multiple ERPs. Not only does this simplify diverse environments resulting from M&A activity, it equates to easier onboarding, a simplified setup of shared services centers, and all-around better business capabilities and continuity.
Visit: Multi-ERP Integration - Connect All Your ERPs
Global management: Are your supply chain concerns international in scope? Leading automation solutions are great for global organizations thanks to supporting of multi-languages, multi-sites, multi-currencies, worldwide payment coverage, and global compliance. Their cloud-based nature enables people to work better together while giving executives the level of visibility they need at each level of the organization.
Custom dashboards: You can’t manage what you can’t measure. For an automation solution to boost supply chain management, you need information available at-a-glance. No more time wasted hunting down needed data!
On-the-go access: Especially now that remote work is the norm, a best-in-class automation solution should include a mobile app that gives customers, suppliers, and staff the freedom to place and track orders, approve invoices and easily collaborate wherever, whenever.
You’re only as strong as your weakest link: One weak link within processes such as AP, order management or AR could mean the difference between boom or bust. That’s why it’s important to pursue a coordinated approach that addresses all three areas and aims to alleviate the supply chain challenges associated with each in a manual, non-automated environment.
About the Author
Taylor Bucher. As a Copywriter at Esker, Taylor uses her creative writing experience to write engaging marketing content that educates audiences on the benefits of automated business processes.
Related Resources
Digital Optimization’s Value to the Supply Chain
This guidebook was designed to help supply chain leaders focused on customer and order fulfillment evaluate the benefits of automation solutions and their necessity when beginning a digital optimization project. Download Now!
The Total Economic Impact™ of Esker’s Order Management Solution
Esker commissioned Forrester Consulting to conduct a Total Economic Impact™ study and examine the potential ROI that enterprises may achieve with Esker’s Order Management solution. Download Now!
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