The Order-to-Cash (OTC) cycle involves virtually the entire spectrum of financial operations.
From Credit Granting to Order Processing, to Billing/Invoicing, to eventual Credit & Collections, and possible placement to a third-party. It is critical for your trusted collection agency to understand the importance of the OTC cycle as it can be ripe with inefficiencies. It can also create issues in cash flow, bad debt, and customer satisfaction.
The Order-to-Cash process might seem relatively simple, but it can be quite complicated especially when it comes to cash collection. There are many opportunities for error throughout the entire OTC cycle and businesses will find that many of these struggles occur within the cash collection phase.
At RMC, we specialize in aiding companies through their cash collection efforts:
- Delinquent accounts receivable
- Creative outsourcing implementation
- Escalation programs to assist in driving cash, lowering bad debt
- Resolving customer satisfaction issues
The revenue cycle analysis is one of the most important services we offer. Our services lead to improved revenue cycle operations as we aim to resolve and identify front end efficiencies. The analytical information we provide can virtually change the way you do business for the better, thus improving all segments of your OTC process.
Remember, engaging a collection agency early in the collection process can yield more positive results!!!