In these unprecedented times, an organization’s growth hinges on how well Chief Financial Officers (CFOs) can steer their companies through chaos. Many are accelerating the adoption of digital technologies and innovation to navigate through troubled waters.
For the futuristic CFO, focus on digital initiatives will be from both external and internal stand-points. The external focus will rest on rapidly changing customer needs – and this requires real-time information, along with seamless and faster end-to-end services. From an internal viewpoint, they have to ensure that the finance function is able to deliver outcomes efficiently and effectively to meet customers’ requirements.
Futuristic CFOs should therefore go beyond controlling and protecting to enabling business growth and improving end-customer experience. As they turn to a digital-driven approach to meet their objectives, they should counter the inherent risks associated with increased visibility to end-customer, real-time order and payment processing, core systems’ stability and vulnerability to cyberattacks, among others. In such a scenario, a traditional Order-to-Cash (O2C) process, with assumed boundaries, is both inadequate and limiting.
This is where a connected Quote-to-Sustain (QtS) future-ready solution helps. It is built on the concept of Finance OneOffice — the integration of front, middle and back-office operations, supported by intelligent automation and analytics, to drive superior outcomes.
QtS, powered by digital, extends the boundaries of traditional O2C processes – starting from onboarding of customers to providing real-time insights for revenue optimization and protection.
Real-time consolidated view of data for accurate cash flow forecasts and customer payment predictions. Clear understanding of revenue risks. Enhanced collections efficiency. Dynamic credit management in real-time. These are the outcomes that every CFO strives for, and exactly what QtS delivers. With three transformative elements, QtS intelligently connects and automates systems, and empowers the finance function to achieve unprecedented efficiency. This is clearly reflected in the areas of credit management, collections, dispute and deduction management, cash applications, and customer payments. Additionally, business leaders can also leverage the advantages of digital assistants, ‘Botified’ queries, digital dashboards and analytics-as-a-service to serve customers and employees better, and make smarter and faster decisions to maximize revenues.
CFOs with their sights on the future can fast forward their desired outcomes with QtS — superior customer experience, smart order management, enhanced cash flow and protected revenue. A digital finance function that is scalable, sustainable and ‘future-ready’ is waiting for them.