Insights from the SSON Report: State of Order to Cash in Shared Services
This summary blog captures the insights from the SSON survey and highlights why GBS/SSO leaders are shifting their priorities from outsourcing O2C operations to an integrated captive model for scaling their GBS organization.
This implies that the A/R teams had to allocate significant bandwidth to aggregate information for missing remittances and process that remittance data to close the open invoices, which delayed the cash application process and impacted metrics like DSO and hit rates.
The multiple to-and-fros within the credit team and the customers due to missing credit application data or inaccurate information delay the bank and trade reference validation. This further slows down the process resulting in a poor customer experience.
GBS/SSO model is built on standardization, process integration, and end-to-end process management. The SSON survey report on the State of O2C in Shared Services denotes a significant decline in the O2C process performance levels across shared services and GBS organizations and the lack of technology adoption. GBS/SSO leaders must take charge to drive digital transformation across their operations with advanced technology capabilities like AI and RPA.
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