How do you save paper and accelerate Revenue at the same time?
If products and services are the backbone of business, then business documents are the lifeblood that keeps them moving. Business documents are central to every major business process in the sales lifecycle (examples of which are, Accounts Receivable, Purchasing, Accounts Payable, Shipping, Receiving, Customer Service, etc.)
They are mercury by which you measure key performance indicators, such as days outstanding, vendor discounts captured, work force efficiency, customer write offs.
Consider the following ways that business documents affect Key performance indicators: –
- 3 to 10 of the days associated with days outstanding are directly correlated to manual document processes
- 56% of Vendor discounts are lost because of inefficient vendor invoice processing
- 20% of Vendor invoices require adjustments
- 4.6% of Vendor invoices are paid with errors
- 15% of write offs are due to unavailable/inaccessible supporting data
We have seen this lax in efficient revenue management on a regular basis. Shopping carts full of orders waiting for entry, Accounts receivable days outstanding unnecessarily 16% to 22% too high, 11 required manual signatures on all accounts payable documents, Annual customer service write offs in the hundreds of thousands of dollars due to the inability to resolve customer disputes because of manual document business processes.
When you gauge your working capital, how do your document centric business processes effect your revenue?
Let me share with you the 4 ways that we help executives improve the way revenues flow through their organization.
If nothing resonates with you, then we may not be a good solution for your situation, but if one of following hits a nerve, I would suggest that you participate in one of our private executive briefings to determine what should be happening in your company.
We help Companies appropriately accelerate revenue by:
1. Reducing days outstanding
2. Increasing the vendor discounts captured
3. Decreasing customer service write offs
4. Maximizing the efficiency of the white collar labor force
Contemplate the fact that document centric processes are a huge drain on corporate cash flow but but a proven document strategy will accelerate revenues.
The question you must ask yourself is does “business as usual” impact revenue enough to invest 20 minutes to discover if there is a solution.