Understanding World-Class Credit and A/R
This Hackett Group research is an actionable summary that drills down on ?how? World-Class companies have leveraged digital transformation to excel over their peers
Chapter
02
Understanding World-Class Credit and A/R
What is World-Class?
What does it look like, how is it different?
- They are more efficient, doing their work faster and at less cost: World-Class organizations have streamlined their operations by leveraging technology to automate the repetitive, manual processes as well as have reduced dependency on resources
- They are more effective at delivering services to internal and external customers: By automating the core transaction management, A/R teams focus better on customer engagement to improve repeat business and unlock latent business opportunities
World-Class performance focuses on doing more with less 
World-Class organizations have been able to largely automate their financial operations and realize up to 45% more savings than their peers. These savings are attributed to:
- Lowered resource costs
- Switching to electronic from paper
- Working capital optimization with faster collections
- Reduced bad-debt and write-offs with worklist prioritization
