Genpact , the architect of the Lean DigitalSM enterprise, today announced the next generation of its Order-to-Cash Accounts Receivable Management Suite that transforms finance and accounting (F&A) operations through end-to-end automated processes—beginning as soon as the customer places an order, and continuing through accounts receivable and cash applications.
Chief financial officers (CFOs) want F&A teams to be more productive, proactive and increase customer satisfaction, yet many accounts receivable professionals waste up to 80 percent of their time chasing down faulty invoices. Genpact rearchitects critical back-office functions c with automated process improvements that not only improve productivity and lower costs, but also materially impacts a company’s available cash by freeing up working capital trapped in lengthy payment processing disputes caused by multiple disparate legacy systems and redundant, error-prone manual processes. Order-to-Cash Accounts Receivable Management Suite also delivers better audit and compliance capabilities.
Built on Genpact’s Lean-inspired and patented Smart Enterprise Processes (SEPSM) methodology, this cloud-based solution includes enhancements to the cash application module, email communication and tracking, data archive, and historical trend reporting, as well as a mobile application for tablets that allows anywhere, anytime access. Sophisticated Data-to-Insight-to-ActionSM analytics help F&A professionals operate smarter and faster by learning critical improvements from patterns. An updated customer portal provides the ability to view invoices, settle disputes, and make online payments.
Genpact’s unique approach applies Lean management and design thinking principles to digital technology. By combining cutting-edge automation tools with its deep process expertise, including experience in designing, transforming, and running F&A operations for hundreds of global clients, Genpact aligns digital interventions tightly to measurable impact such as growth, cost efficiency, and business agility. As a result, CFOs and their teams can provide added value and impact business outcomes such as:
Increased cash flow by reducing past due receivables by up to 50 percent, bad debt reserves by 15 to 25 percent, days sales outstanding 10 to 20 percent, and operational costs by 25 to 45 percent.
Optimized resources by compressing dispute cycles by 30 to 50 percent, improving automated process documentation and workflow up to 50 percent, and delivering up to five times increased collector coverage.
Enhanced compliance through tighter controls that embed operational best practices and rule-based workflows. A daily task list flags managers about changing credit exposure, portfolio performance, breached business thresholds, and customer payment behavior.
Order-to-Cash Accounts Receivable Management Suite is part of Genpact’s Systems of EngagementTM portfolio, which overlays cloud-based technology on top of clients’ existing systems to transform operations. Genpact offers the solution on a software-as-a-service platform, providing quick implementation and easy scalability without heavy capital or data center investment, and requiring only minimal technology support.
“Genpact’s Lean Digital approach is unique in the industry with its innovative combination of Lean and design thinking principles with automation and other cutting-edge technology to rearchitect how finance teams work,” said Sanjay Srivastava, senior vice president and chief digital officer. “Our Order-to-Cash Accounts Receivable Management Suite not only dramatically improves F&A processes but also impacts business outcomes by freeing up capital and enhancing compliance.”
Genpact’s family of F&A solutions includes Order-to-Cash Accounts Receivable Management Suite as well as Financial Controllership Suite, Enterprise Supplier Management, and additional industry-specific offerings that use robotics process automation and other leading technology. The solutions connect all relevant F&A components across an enterprise, making finance operations more intelligent, able to execute faster and more accurately, and adapt over time.