# Keep your head in the cloud: improving the order-to-cash process
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2021-09-08
Category: BUSINESS
Category URL: https://financedigest.com/category/business
Meta Title: Accelerate Your Order-to-Cash Process with Cloud Integration
Meta Description: Discover how cloud-based platforms can revolutionise your order-to-cash processes and streamline operations for increased efficiency and profitability.
URL: https://financedigest.com/keep-your-head-in-the-cloud-improving-the-order-to-cash-processhtml

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_By **Adriaan Kom,** CCO at Visma \| Onguard_

In a short space of time, many businesses have had their digital transformation journeys accelerated, with a share of digital or digitally enabled products brought forward by as much as [seven years](https://www.mckinsey.com/business-functions/strategy-and-corporate-finance/our-insights/how-covid-19-has-pushed-companies-over-the-technology-tipping-point-and-transformed-business-forever). The fast changes in business operations and investments has resulted in a greater need to streamline operations and communicate with clients via new channels.

As economic pressures and payment delays continue, companies face many challenges in optimising their order-to-cash processes. Indeed, Onguard’s latest [Fintech Barometer](https://www.onguard.com/media/whitepaper/whitepaper-intelligent-automation-in-the-order-to-cash-process/) found that reducing DSO Is the biggest challenge for 30% of finance professionals. As too much time and resources are being spent on manually chasing debts and looking for the best solutions for customers with cashflow issues, effective cash [management has never been more important](https://www.financedigest.com/the-importance-of-strategic-human-resource-management.html "The Importance of Strategic Human Resource Management").

There is a range of technology tools that allows [businesses to proactively manage](https://www.financedigest.com/finance-management-for-small-business.html "Finance management for small business") their risks, speed up their collections processes and manage debtors and disputes. However, transforming the order-to-cash [process in isolation is not enough](https://www.financedigest.com/solvency-ii-pushing-existing-systems-and-processes-harder-is-not-enough-for-compliance.html "Solvency II: pushing existing systems and processes harder is not enough for compliance"). It needs to be incorporated into the wider digital transformation strategy, and the [way to do it is via the cloud](https://www.financedigest.com/green-cloud-one-way-your-company-can-commit-to-sustainability.html "Green Cloud: one way your company can commit to sustainability").

**Order-to-cash in the cloud**

The Annual [Fintech Barometer](https://www.onguard.com/media/whitepaper/whitepaper-intelligent-automation-in-the-order-to-cash-process/) survey by Visma \| Onguard discovered that uptake of cloud-based infrastructure by organisations in the UK sat at 43%, with a further 49% planning to do so in either 2021 or in the coming years. This represents a huge potential for cloud adoption in the near future, which can [bring tangible benefits to more businesses](https://www.financedigest.com/how-to-bring-business-and-charities-together-through-events.html "How To Bring Business And Charities Together Through Events") and their order-to-cash processes.

Incorporating new platforms to [business operations always requires a certain level of planning and strategy](https://www.financedigest.com/small-business-strategies-for-foreign-exchange.html "Small business strategies for foreign exchange") reviewing. [Ensuring a cloud-based](https://www.financedigest.com/vias-cloud-based-solutions-ensure-painless-office-move-for-insurance-body.html "VIA’S CLOUD-BASED SOLUTIONS ENSURE PAINLESS OFFICE MOVE FOR INSURANCE BODY") implementation removes the need for potentially costly in-house maintenance and expertise to prevent downtime. Lower upfront costs of a cloud deployment also enables [businesses to save](https://www.financedigest.com/5-simple-ways-in-which-your-business-can-save-water.html "5 simple ways in which your business can save water") money from the outset, which is an attractive benefit for many business leaders. With internal IT teams already stretched due to the [need to work on projects such as improving](https://www.financedigest.com/struggling-banks-need-to-modernise-and-improve-software-quality-management.html "Struggling Banks Need to Modernise and Improve Software Quality Management") security measures, a cloud-based deployment will help to ease the strain on IT professionals who are already feeling the pressure.

There is a common misconception amongst many [businesses that keeping](https://www.financedigest.com/keeping-an-eye-on-company-purse-strings-where-do-businesses-go-wrong.html "Keeping an eye on company purse strings – where do businesses go wrong?") data in-house allows for greater control and autonomy to facilitate efficiency in financial processes. However, the ERP architecture is already maintained in the cloud. [Data can be integrated quickly and easily across systems](https://www.financedigest.com/interoperability-of-data-to-accelerate-the-ventilator-test-systems-market.html "Interoperability of data to accelerate the Ventilator Test Systems Market"), enabling synergy between processes.

This can also benefit [finance professionals who are struggling with both disconnected](https://www.financedigest.com/trouble-in-paradise-the-great-procurement-and-finance-disconnect.html "Trouble in paradise: the great procurement and finance disconnect") and manual processes and completing tasks in an isolated manner. Integration is crucial when trying to improve efficiencies, but it was [identified as the biggest challenge](https://www.financedigest.com/new-gleif-challenge-facility-extends-ability-to-trigger-updates-of-legal-entity-identifier-data-to-all-interested-parties.html "New GLEIF Challenge Facility Extends Ability to Trigger Updates of Legal Entity Identifier Data to All Interested Parties") by 33% of professionals in the order-to-cash process in the Annual Fintech Barometer survey by Visma \| Onguard.

**Enabling** [business transformation with cloud](https://www.financedigest.com/7-ways-cloud-technology-can-transform-business-finances.html "7 ways cloud technology can transform business finances")

Cloud-based platforms present great opportunities for improving [efficiencies across teams and processes](https://www.financedigest.com/1-easy-tip-to-make-a-key-e-commerce-process-more-efficient.html "1 easy tip to make a key e-commerce process more efficient"). They also pave the way for order-to-cash integration with the latest technological advancements, such as robotics, [artificial intelligence](https://www.financedigest.com/types-of-artificial-intelligence.html "artificial intelligence") (AI) and machine learning (ML), allowing business transformation to happen on a much bigger scale.

Effective use of robotics eliminates a number of manual and tedious tasks, enabling [finance professionals to focus on more critical](https://www.financedigest.com/hiding-in-plain-sight-finance-as-critical-national-infrastructure.html "Hiding in plain sight – Finance as Critical National Infrastructure") work. However, implementing this [technology in-house can be a costly venture that requires continuous development](https://www.financedigest.com/research-and-technological-innovations-to-bolster-developments-in-polycarbonate-resins-market.html "Research and Technological Innovations to Bolster Developments in Polycarbonate Resins Market") and maintenance. Similar issues arise when it comes to AI and ML. Although the capabilities of AI are vast, such as being able to determine the likelihood of whether a customer will pay an outstanding invoice, the [need to hire data scientists and the outlay involved in a data platform investment can place strain on budgets at a time where every](https://www.financedigest.com/10-secrets-every-entrepreneur-needs-to-thrive-in-2023.html "10 Secrets Every Entrepreneur Needs to Thrive in 2023") penny counts.

The good news for [finance teams](https://www.financedigest.com/finance-teams-have-been-left-in-the-dark-on-the-real-cost-of-working-from-home.html "Finance teams have been left in the dark on the real cost of working from home") is that the cloud is facilitating the availability of AI and ML-driven plug-and-play applications. These off-the-shelf solutions mean that organisations can apply these technologies quickly and easily, immediately transforming the order-to-cash [process and having an immediate impact on the finance](https://www.financedigest.com/how-decentralized-finance-can-aid-in-the-acquisition-process.html "How Decentralized Finance can aid in the acquisition process") department.

**Reinventing CX with cloud processes**

As much as the pandemic accelerated [digital transformation](https://www.financedigest.com/future-of-finance-2023-digital-transformation.html "Future of Finance 2023: Digital Transformation") plans, it also impacted customer expectations and experiences. Automated cloud-based order-to-cash [platforms can provide seamless deployment and simplify process management](https://www.financedigest.com/newly-launched-quintessential-to-provide-prestige-living-management-platform-for-prs.html "Newly launched Quintessential to provide ‘prestige living’ management platform for PRS"), meaning streamlined CX and greater customer satisfaction.

Visma \| Onguard’s [study revealed](https://www.financedigest.com/first-listener-wide-study-reveals-brand-impact-of-radio-livestream-and-podcasts.html "First listener-wide study reveals brand impact of Radio, Livestream, and Podcasts") that 29% of finance professionals identified creating the best solution for clients as the most fun part of their work. Cloud-based [platforms not only help maximise workplace satisfaction and engagement](https://www.financedigest.com/5-ways-a-ccm-platform-can-help-improve-customer-engagement-in-insurance.html "5 Ways a CCM platform can help improve customer engagement in insurance"), but also provide the toolkit to understand clients’ needs and requirements. All of that combined allows businesses to offer a better, faster [service and increase client](https://www.financedigest.com/bny-mellon-strengthens-support-for-treasury-services-clients-in-germany-with-appointment-of-gungor-taner.html "BNY MELLON STRENGTHENS SUPPORT FOR TREASURY SERVICES CLIENTS IN GERMANY WITH APPOINTMENT OF GÜNGÖR TANER") loyalty. As companies reinvent their digital and CX strategies, integrated cloud-based platforms will help them to move forward and succeed on their [transformation journeys](https://www.financedigest.com/the-road-to-transformation-raconteur-ceos-journey-from-near-bust-to-boom.html "The Road To Transformation: Raconteur CEO’s journey from near bust to boom").


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