Organisations may be faced with many supply chain challenges at the best of times, but with the current challenges of a global pandemic and economic volatility, businesses need to take action to optimise their cash flow and polish their supply chain processes to ensure survival. Now is the time to take the opportunity to seize or sustain a competitive advantage or risk damaging the financial health of an organisation across the supply chain.
SUPPLY CHAIN CHALLENGES
Traditionally, most supply chain leaders tend to focus the majority of their attention on inventory turnover. However, today’s supply chain leaders are also being asked to focus on minimising the money that’s tied up in inventory as well as the money that’s held up in various parts of the business.
One weak link within processes such as accounts payable, order management and accounts receivable could mean the difference between make or break. Issues such as lack of visibility, remote working, late payments, broken supplier relationships, incorrect or incomplete orders, missing customer SLAs, lack of a robust on-hand cash reserve, part-payments and ineffective collections, are all risks to the supply chain.
MAINTAINING BUSINESS CONTINUTY IN ANY ENVIRONMENT
During the current pandemic, remote working has become the new norm. This obviously has the potential to cause further problems in the supply chain.
Automation is the answer:
- 24/7 SOLUTION AVAILABILITY that’s not location dependent is guaranteed to support all customers, suppliers & partners remotely — all that’s needed is a web browser!
- MOBILE CAPABILITIES enable users to access the solution & continue working at any time — whether doing P2P or O2C activities — even when not at their desks.
- WEB PORTALS allow users to actively engage with customers & suppliers. From acknowledging new orders to dispute resolution to invoice follow-up, collaboration can be achieved via a customisable dashboard.
- PLATFORM SECURITY is ensured through continuous security validations & certifications, including ISO 27001, SOC 1® Type 2 (SSAE 18 & ISAE 3402), HIPAA & HITECH, etc.
- CONTINUOUS UPDATES are made to the solution (e.g., new features & enhancements) with no allocated time or resources required.
- MAIL SERVICES enable users to mail documents directly from the cloud with the touch of a button & 100% compatibility from wherever or whenever they’re working
Worried about remote implementation? Don’t be. Best in class automation solution providers use agile methodologies combined with constant communication to allow remote implementation to be pursued seamlessly from beginning to end.
THE BENEFITS OF AUTOMATION
The advantages of automation are clear:
- IMPROVED EFFICIENCY & COLLABORATION
Automation breaks down the traditional P2P and O2C silos affecting supply chain efficiency through greater speed, accuracy, and information sharing and collaboration.
- INCREASED WORKING CAPITAL
The cumulative effect of increased savings, productivity, visibility and collaboration within the supply chain all add up to what matters most — optimised working capital and cash flow.
- STAFF EMPOWERMENT & ACCOUNTABILITY
Fewer manual tasks means team members have greater autonomy over their daily activities and more time to focus on issues that impact customers, suppliers and the organisation.
- IMPROVED RELATIONSHIPS
When payments are made quickly, orders are delivered on time and cash collection is painless, the result is improved relationships with your most strategic customers and suppliers.
- “FUTURE-PROOF” GROWTH
Automation serves as a digital foundation for companies to prosper in any economic environment thanks to end-to-end connectivity, fewer technological restraints, and strengthened global security and compliance.
- GREATER VISIBILITY & OVERSIGHT
Cash flow can always be top of mind thanks to instant access into any order, invoice, etc., customisable KPIs for P2P and O2C reporting, and a complete audit trail recorded.
- COST SAVINGS
From “hard” savings on supplies, equipment and processing costs to “soft” savings resulting from increased productivity, higher staff retention and lower customer churn, automation equals significant savings.
- SIMPLIFIED IT ENVIRONMENT
Thanks to continuous software upgrades and system consolidation, businesses need fewer resources to govern their IT environment.
ESKER CAN HELP
Esker can help your organisation to automate end-to-end supply chain processes and optimise cash flow. Transformative advantages to make your organisation stand out from the crowd.
Talk to us today, we’d love to hear from you.