By Divya Turner
The finance function is transitioning from being a clean-up act of friction within the enterprise to a catalyst of business model disruption. Connecting capabilities underpinned by an AI-augmented workforce is enabling organizations to generate more meaningful business outcomes, ushering in a new era of the frictionless norm.
At Capgemini, we call this the Frictionless Enterprise – an approach in which information flows seamlessly between people and processes, intelligently, and as and when needed. It dynamically adapts to your organization’s circumstances to address each and every point of friction in your business operations to deliver specific business outcomes in a value-focused way.
Unlock Value From Your Order-To-Cash By Leveraging AI
As part of its Frictionless Finance offer, Capgemini has partnered with Boomi to enable its AI.Receivables product – an integrated solution that brings orchestrated data, self-service, and AI-powered processing, insights, and analytics to the order-to-cash (O2C) process.
Let’s look at some common pain points within the finance fuction:
- It takes finance 5–10 days of the next accounting period and up to 90 percent of the effort to produce figures, impeding leadership decision-making – AI.Receivables provides the intelligence to drive real-time operational and predictive insights that accelerate decision-making.
- Qualified professionals are drowning in exceptions and poor experiences that impair the customer experience to trade across billing, payment, fraud, and credit control – AI.Receivables transforms traditional people-intensive operating models into an AI-augmented workforce, where AI drives the process and harmonizes with your employees.
- Operating models tend to separate ownership and control, leading to a dissipated focus on the customer – AI.Receivables re-orchestrates processes, data, and experiences to enable digital integration of customers into a business ecosystem that builds simplicity of transaction for the end user.
- Regulatory and financial controls struggle to keep pace with the agility of shifting business models and market dynamism, which results in controls only being as effective as the weakest audit link – AI.Receivables engages the dynamism of machine learning and statistical techniques to determine the optimum threshold for automation-based intervention of vast data sets and reduce the risk corridor to negligible values.
- Technology in finance continues to lag due to cost of adoption, compatibility, or security, leaving organizations open to the possibility of a single human keystroke error snowballing to large magnitudes over the lifecycle of cash settlements – AI.Receivables connects innovation and platforms seamlessly to drive frictionless O2C, by breaking down barriers, streamlining processing, harnessing data, and eliminating exceptions.
The Future of Frictionless O2C
By taking away the pressure to focus on risk-laden, labor intensive, monotonous O2C processes, AI.Receivables creates an environment where your employees can play to their creativity and problem-solving skills, augmenting their ability to process and make decisions, thereby creating a workforce that enables you to succeed in a dynamic business environment.
By infusing repetitive albeit critical processes with simplicity, we make it easier for our customers to trade and function, build a frictionless momentum that becomes the norm.
Keen to know more? Learn how Capgemini’s AI.Receivables solution – enabled by Boomi – delivers frictionless, next-generation O2C processes to make Frictionless Finance a reality for your organization.