According to a study by Capgemini and BNP Paribas, digital payments are expected to reach a record 726 billion by 2020. Today, the number of purchases made online has begun to exceed the number of real-world transactions. As we move further into the future, this trend will only continue to grow: Cash flow will become more digital and automation will continue to seep into our daily practices. Large organizations have already started tapping into the “Order to cash” (O2C) cycle to automate and efficiently manage their finances. With money management being an integral part of any business, the need for cash solution providers especially in today’s tech-centric world has never been greater.
The need to optimize the O2C cycle
The O2C cycle covers a range of disciplines and sub-departments within an organization. Usually, those departments operate with different systems, datasets, and workflows even though they work on the same orders. As the technical processes required to manage such activities has been fractured until now, gaining a transparent view of this setup can be difficult. That’s where a company like Order2Cash, comes into focus.
Order2Cash is a company that was initially established with the objective of creating custom enterprise level e-invoicing solutions for multinational organizations. Founded in 2000 in Amsterdam, under the name Anachron, the company steadily grew over the span of the next two decades thanks to clever internal innovations and close interactions with its partners and customers. Within its first few years, Anachron became one of the top players in the European market and even started attracting clients from the US and other foreign countries.
As the company’s portfolio expanded, the management realized that all these newly added services; such asonline payments, credit management andcollections etc had given a new meaning to the company. No longer were they focused entirely on e-invoicing; instead they had grown to become a true end-to-end order to cash solution provider.This consequently led them to make one of the most important changes to the company to date. They decided to rebrand it to what we call it today, Order2Cash.
Products and Features
Order2Cash’s flagship SaaS platform brings together a unique collection of class-leading process management and automation solutions, each geared towards a particular area of the order to cash cycle. The platform provides organizations with a single platform to manage their entire order to cash cycle; this includes extensive credit risk and customer assessment tools, secure digital contract signing and the comprehensive global outbound e-Invoicing solutions that the company built its foundation upon. Payment acceleration features in the platform include the possibility to adopt a range of online and alternative payment methods. Moreover, the company also offers cash allocation, which automates over 90% of all payment reconciliation. Its powerful credit management software allows for intricate issue, deduction and dispute management with debtors and all debt collection and recovery tasks can be activated and monitored through the platform also. All such features aside, another important defining factor has been the company’s modular setup. This has enabled Order2Cash to tailor specific solutions to suit their customer’s current business needs.
Through its top quality products and experience it has gained over the years, Order2Cash helps companies achieve certain business goals. Improving cash flow and generating cost savings are two major promises that Order2Cash makes to its clients. Ease of distribution, controlling credit risk, and meeting sustainability and environmental targets are some of the other goals that the company works towards helping its clients achieve.
With the vast amount of features the company offers, it certainly provides its customers with a lot of conveniences. But the one feature that truly differentiates it from the rest of the competition is its ability to offer an integrated experience by aggregating all its cash management features under a single platform.
Order2Cash makes sure that all data is visible in real time and available to every user where they need it and when they need it.
The smooth functioning of Order2Cash can be attributed to a set of clear and simple core values. Order2Cash customers rely on the company to empower business critical processes and workflows. That relationship requires a deep sense of trust and honesty to be successful. Therefore, the team at Order2Cash believes in being straightforward at all times. Their honesty and clarity in business relationships have not only helped them retain their customers but has helped to expand their customer base year upon year.
Order2Cash also emphasizes quality over quantity. The company’s best -in -class solutions and stringent quality control have helped them stay at the forefront of the industry for over two decades. Finally, Order2Cash’s customer first policy has always been one of its key features. By listening to the needs and desires of customers, Order2Cash makes sure that solutions are developed in tandem and that every single customer becomes a reference.
The internet is the future. Although cash payments are still the most used transaction method, the rise of the internet has slowly started to make online and alternative payments more and more common. Order2Cash is here to help companies keep up with this process. Order2Cash’s top quality customer service and integrated online payment solutions have made life easier for several of its clients. By focusing on quality and innovation, expansion of the company into new countries is imminent. And with such a clear and concise set of mantras, it is certain that the company will continue to break barriers and make strides in the industry.