The right data at the right time in a single dashboard will make or break your sales and supply chain strategy. With increasing pressure on performance from suppliers, customers, and shareholders, you need to maintain a sharp order to cash performance.
Order to Cash (O2C) is the heart of a healthy business, and it is often where visibility becomes critical. Get a solid handle on O2C using the latest cloud applications and our best practices with Jade Global's first-rate experience in delivering robust, scalable data solutions leveraging Snowflake ecosystem.
What is the Order to Cash process?
O2C is the process of taking a customer order and ensuring it's fulfilled wholly and accurately. Any business that accepts orders from customers exists in an order to cash environment.
In the O2C cycle, the goal is to convert customers' orders into revenue. The sales department doesn't end with the new order—it starts there. To accomplish this, companies need to know who and what they are selling, when and how best to sell it—and then what happens after a sale is made.
The O2C and business processes:O2C is crucial for any business. Let’s see where and why businesses use O2C to establish its necessity today:
Businesses improve sales when they can close the loop faster and be more efficient. Therefore, it is important to create a seamless end-to-end experience that improves O2C operational performance. In addition, O2C is one of the most critical stages in a supply chain. As a result, there must be changes to inventory, operations, and finance systems; this is where O2C comes into play.
To manage the process well, you need better-managed business functions: sales, manufacturing, technology management, fulfillment, shipping, and accounting.
With visibility into O2C activities and processes, enterprises will understand business performance, resulting in more significant efficiency savings for an organization.
So now you ask where the bottleneck lies?
What's the hold up with Order to Cash data?
- No uniformity in customer experience
- Lack of visibility across the entire O2C process
- Inconsistent data
- System dependencies
- Business silos of various departments
- Transaction data available not optimally used for any intelligence
- Manual and time-consuming O2C processes
79% of companies have three or more order capture and three or more order fulfillment systems, as per the Supply Chain Management Review Order Fulfillment Survey, making gaining insight into order status, a challenging task.
What a good insight into your Order to Cash data can do for your business:
- Need for Analytics: In this new landscape, advanced analytics is more important than ever to inform sound business decisions. Good Order to Cash Analytics help you benchmark operational performance, forecast future performance/sales, and identify growth opportunities.
- Single Source of Truth: What if we told you that you could drill down to exactly the piece of information you need? With such intelligence into your Order to Cash, a single source of truth is delivered for your complete order management process and across financial applications.
- Improving Order Performance and Efficiency: You want to see the big picture, but the small details are critical too. You need an order to cash to address your entire business process, from order receipt through payment. Getting value out of the data of your Order to cash involves mapping and modelling and enabling you to analyze and improve the performance of every function in your order to cash cycle. With it, you'll get insights into where costs are coming from historically and where you can make process improvements moving forward.
- Customer Experience: Executives rely on data to make decisions, and businesses need data to make customer experience successful. Order to cash analytics will uncover opportunities for improvement and strengthen the bond between customer and brand. For example, an order tracking software solution can turn the onboarding process into an opportunity for further engagement with a business' sales funnel.
- Account Receivables/Finance: Are you tired of analyzing your daily cash flow and using separate spreadsheets to analyze your company's performance based on different dimensions? Improved intelligence results in real-time views of metrics such as Days Sales Outstanding (DSO) and Days Inventory Outstanding (DIO). These metrics measure the extent to which a business is dependent on short-term capital versus long-term capital for its operations.
You need Snowflake Intelligence to analyze and maximize your O2C data:
Snowflake is the most advanced data cloud available, supporting a wide range of data types and workloads and with a high performance, secured multi-tenant architecture. Snowflake masters the complexity of leveraging on-premises, hybrid clouds and other clouds – and all this with industry-standard tools and metadata, so you can get started right away.
It offers you a single source of truth, ways to store complex data and to look across diverse data to make more strategic decisions. Snowflake is a complete solution for consolidating, migrating and sharing data in real-time.
- Unique Architecture: Snowflake delivers enterprise-grade analytics at the speed of Big Data by automatically sharing your data across clusters and optimizing every step of the process – from ingestion to query – with real-time analytics. The result is a multi-tenant cloud database designed specifically for modern data applications.
- Flexibility and Adaptability: Delivered as a service, Snowflake makes it possible to collect, store and query all your diverse data to become instantly elastic and run the types of workloads you want. It is a single unified cloud data warehouse that scales in real-time to meet your changing business needs.
- Uninterrupted Data Ingestion: Snowflake’s serverless ingestion service is built upon a scalable, resilient, parallel processing framework that admirably addresses today’s high-volume and complex workflows.
- Strong Transaction Management and Data Segregation: Snowflake applies database atomicity, consistency, isolation, and durability (ACID) properties to ensure transaction steadiness in the event of power failures, and unanticipated situations.
- Highest Security and Compliance Standards: Snowflake's security and compliance standards are centered around three core pillars: complete control of data, comprehensive visibility into Snowflake usage, and advanced cybersecurity practices, using a multi-layered approach to security.
- Metadata for Accuracy and Uniformity: A robust metadata service traverses the system in entirety. Create, manage, track, and audit metadata that’s connected to all your data and internal processes.
- Multi-pronged Storage: Snowflake’s automated data motion and tiering are enabled by machine learning algorithms that optimize for cost, performance, latency, and fast data delivery and can easily handle structured and unstructured data. Snowflake can automatically move your data across regions as your needs change without burdening your IT team.
Snowflake’s cloud data platform also allows secure data sharing and interchange, enables businesses to achieve higher performance and workloads and a global imprint makes disaster recovery easy further enhancing business continuity practices.
All organizations need to bring more agility and strength to their data infrastructure, and most aren't sure where to start. Jade Global's Snowflake experts will share how you can analyze and maximize your Order to Cash data today using the power of Snowflake's platform in our upcoming webinar.
With Snowflake, you can analyze and enhance your Order to Cash data, design reports for key stakeholders with no technical skills, and assess data quality.About the Author
Vinit Verma, Global Practice Head – Digital Platforms & Solutions | Boomi | Snowflake
Vinit Verma is Global Practice head for Boomi and Snowflake Practice at Jade Global. With over 18 years of IT consulting experience, Vinit has been helping small to large organizations build a connected and data-driven business.