Reprinted by permission of ServiceMax
In the 2017 Perceptions Study recently published by Receivable Savvy, nearly 500 supplier organizations representing different sizes and industries were asked how they handled various aspects of their Order-to-Cash operation 76% of respondents indicated that they submit invoices using paper while 87% indicated they receive payment by paper check.
While there may appear to be a disconnect – especially in today’s environment where technology is pervasive and suppliers want to be paid as quickly as possible – paper processes are not as uncommon as one might think. In fact, organizations still rely on paper for a variety of reasons including the need for familiarity with a solution they’ve used for years, resistance to innovation because of the perceived costs and the desire to use something they can feel and hold in their hand.
What many of these companies don’t realize are the hidden problems associated with managing portions or all of their operation using paper. They need automation solutions designed to streamline a variety of Order-to-Cash processes and ensure customer payments are made and realized quickly.
Read the full blog entry here.
ServiceMax is a comprehensive, cloud-based, and mobile enterprise solution that manages the service delivery process. Connected to Industrial Internet of Things and APM, the ServiceMax field service management platform enables customers, such as original equipment manufacturers and equipment owners/operators, to increase productivity, drive efficiencies, reduce compliance and safety risks, grow service revenue, and improve customer experience by transforming the way service is delivered. Field Service transformation is a key component of Industrial Digital Transformation, allowing customers to implement new business models that focus on customer outcomes.