A strategic perspective on invoice-to-cash
Get a fresh perspective on improving the invoicing experience.
The saying ‘a team is only as strong as its weakest player’ couldn’t ring more true when it comes to interacting with customers. Although companies have invested a considerable amount of resources to data management, there’s still a major gap that often leaves the front-line players feeling ‘weak’ in customer understanding. Without the ability to directly access the data and insights they need, customer-facing teams – such as support, account management, and sales – are often faced with choosing between acting now on assumptions or acting later when they finally obtain the requested data. It shouldn’t be a battle between acting faster or acting smarter – these teams need the ability to do both, in conjunction with each other.
Traditional BI tools and manual processes are ill-equipped to solve this problem. This has companies evaluating areas where data insights can truly make an impact – and deciding the best way to get the right team members the information they need.
A recent survey conducted by Computing, which included nearly 400 decision makers from UK organizations, highlights that a change is on the horizon. Although traditionally, IT has owned all of the data and all of the projects attached to that data, these companies are predicting a shift in where key business stakeholders initiate and own functional-specific projects. What’s driving and enabling this shift? Technology integrations that are making it easier than ever before to provide users with the access and data required to act smarter and faster.
According to the survey:
And what’s the richest source of customer data? The invoice. The products that customers are consuming and at the rates at which they’re consuming them, organizational growth and priorities, organizational and accounting structures, and so on – all of this can be derived with a comprehensive view of a customer’s invoice data.
It’s about arming the right people with the right information – in the most efficient way possible. And about strengthening your teams’ knowledge so they can strengthen your customer relationships.
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