World-class is defined to be the top quartile performance in operational efficiency and effectiveness process metrics. For today’s A/R teams world-class means being more productive, faster and operating the order-to-cash process at less cost.
Five Characteristics of a World-class AR Function:
- They achieve up to 45% more cost savings than their peers
- They enjoy a 24% saving in time spent in low-value work
- They are 50% more likely to have advanced reporting and analytics capabilities
- They commit 66% less errors
- They collect 95% credit sales within payment terms
This paper outlines 15 key metrics recommended by Hackett Group that depict a world-class order-to-cash process.