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Order to cash process

All steps from order to getting paid

The order-to-cash process encompasses all steps from when a customer order is placed until the business is paid (the cash). Those steps include order management and order fulfillment, credit management, invoicing, and payment collection.

Optimizing the order to cash will bring:

  • Streamline the buying process for your customers
  • Minimize the need for customer support
  • Reduce order-to-fulfillment time
  • Fulfill orders accurately
  • Ensure a quick conversion of receivables and collections
  • Avoid backorders and make sure you have enough product
  • Fulfill orders on time for customers
  • Prove your business and your value
  • Avoid re-entry
  • Improve your data reporting and accuracy

Order to cash flow

Cash management

  • Sales agreement
  • Sales contract

Invoicing

  • Sales agreement
  • Sales contract

Collections

  • Sales agreement
  • Sales contract

Order Fulfillment

  • Deliver Products / services

Credit

  • Credit evaluation
  • Credit limit

Order Drafting

  • Sales agreement
  • Sales contract

Sales

  • Sells products
  • Customer quote

Order to cash in steps:

  1. Receive Order.
  2. An order is placed, and the system notifies you. Order to cash process can begin.
  3. Manage Customer Payment.
  4. Manage payment based on the method they choose to use. The customer places the order, and the system will accept or deny payment and then move on to fulfillment if and when approved.
  5. Fulfill Order.
  6. Locate and prepare the item for the customer.
  7. Ship Order to Customer.
  8. Ship the order by the date you promised. The management system will record the shipment for future reference and reporting.
  9. Create the Invoice.
  10. A crucial part of this cycle is to get it right. Creating an invoice for each purchase and order is how you keep track of what’s paid for and shipped to avoid monetary discrepancies (invoicing software helps you with this).
  11. Collect Payment.
  12. It should be automated by your order management and invoicing systems.
  13. Report and Analyze.
  14. Your automated order and invoicing systems make this simply because they already manage all data about your sales, orders, and customers. Your business can determine how well your cycle is optimized and its impact on revenue and customers.
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