Many organizations today face the challenge that order lifecycle management (OLM) processes span finance, sales, and distribution. While these organizations have deployed CRM and ERP applications as system of record for these processes, it’s not uncommon for them to employ CRM offerings from one vendor in sales and finance applications from another. As a result, many order-to-cash processes continue to be disjointed and disconnected and are still wrapped around spreadsheets, custom applications, and manual processes.
In today’s constantly changing business and payments environment, manually collecting, evaluating, collating and calculating order-lifecycle data is time consuming and error-prone. Manual order booking and revenue recognition through spreadsheets, pose challenges in scaling and handling the transaction complexity of new business models that modern organizations are aiming for.
In addition, increasing regulatory pressure, such as ASC 606 and IFRS 15, demands improved revenue recognition, compliance and reporting. In fact, these new regulations have forced organizations to rethink the entire order-to-cash process.
RecVue’s suite of Order Lifecycle Management (OLM) solutions bridges the gap between front office CRM systems and back-office ERP applications. Its designed to manage the entire order to cash processes by seamlessly integrating with other systems of record applications. RecVue’s intelligent Order-to-Cash platform provide a wide set of predictive analytics that enable businesses to identify transactions that represent critical business decisions such as credit risks, the rate of customer churn, and optimal price points to set etc.
As organizations seek to implement multiple types of recurring revenue models, finance and sales teams will need intelligent order-to-cash platform such as RecVue that spans both emerging and legacy business models for 1) Billing Completeness 2) Revenue Recognition under ASC 606 and 3) Revenue share with channel partners – all delivered in one solution.