eSource Solutions: Unleash hidden trapped cash by bringing efficiency to the 'Order to...

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eSource Solutions: Unleash hidden trapped cash by bringing efficiency to the 'Order to Invoice' Process

Kartik Shetty, Partner, eSource SolutionsKartik Shetty, Partner
For most companies, the process from completing a customer order to getting the bill out remains one of the most neglected aspects of business management. Reports suggest that as much as 15-35 percent of working capital in the industrial companies is locked up in the this order to bill process. This means that work has been completed but there is a significant delay in getting the bill out. This is a hidden cost to the company both in terms of working capital and cash flow. An efficient process to get the bill out the door demands a collaborative effort not only between the frontend and backend departments of a company but also between the company and its customers . How can the process be streamlined and the accuracy of the bill be increased?

eSource Solutions addresses the leakage of hard-earned money due to inefficiencies in the order-to-bill process through its pioneering application, GetBilled. Effective billing requires a 360-degree view of the teams and individuals responsible for project execution, document signature, change management, and so on. GetBilled, at its core, brings transparency, visibility, accountability, and efficiency to this process that is often left out of transformation efforts. Thanks to a ton of KPIs that gets generated from utilizing GetBilled, managers and teams can define, assign responsibility and track several metrics for a deeper view of their ‘Order to Invoice’ process.

"While our KPIs help the stakeholders mitigate time and process inefficiencies in the ‘Order to Invoice’ process, the data generated can be used for business analytics, trend analysis, AI predictive analytics and many more functions within the organization," highlights Kartik Shetty, Partner, eSource Solutions. Built for the SAP ecosystem, GetBilled can be integrated as an add-on SAP feature. Companies can be up and running with this advanced, intuitive ‘Order to Invoice’ solution in a matter of a few days.

While SAP provides standard reports with Amount due for billing, it does not really tell what documents and notes must be attached to the bill before billing team sends them to the client for payment.


While our KPIs help the stakeholders mitigate time and process inefficiencies in the ‘Order to Invoice’ process and understanding the daily cost to the company, who, where and why is the delay is a game changer for the businesses

"You have to justify the numbers entered on the bill with sufficient documents and notes, else the consequences could lead to rejection of the bill by your customer," informs Shetty. More often than not, operation teams fail to attach relevant documents and notes needed to justify why a certain part of the project or service has been billed. The reason: the lack of audit trail to track the workflow execution. The lack of visibility in the workflow makes tracing the documents and notes almost impossible. However, in the absence of a legitimate workflow, it is challenging to seek accountability when a certain aspect of the project is not completed on time. In that case, GetBilled immediately alerts the managers, signalling them to take action on the incomplete tasks. Putting an end to these pain points, GetBilled connects all stakeholders from order to the final billing, consolidates all information in a single format while providing an effective way to communicate, track and utilize accountability metrics. Thus, it improves the order to invoice, coast to coast.

GetBilled KPI metrics provide information on Cost to company, who is responsible for the delay, reason for the delay with various supporting characteristics. GetBilled reduces errors in the billing process by having full documentation of customer requirements easily accessible via customer requirement module to everyone involved from operations through billing issuance and collection. Further, it enables a streamlined organization with more clearly defined roles. It helps to standardize ‘Order to Invoice’ processes enabling more centralization of global billing processes. By getting the quality bills out of the door and into your customers’ hands faster, companies can improve cash flow significantly.

eSource plans is working on integrating GetBilled with Salesforce for greater value. “Our solution will help our growing clientele—and even potential partners (Consulting and SAP partners) who offer solutions to thousands of their customers—save millions year after year by transforming ‘Order to Invoice Process,” concludes Shetty.

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eSource Solutions

Company
eSource Solutions

Headquarters
The Woodlands, TX

Management
Kartik Shetty, Partner

Description
Bringing efficiencies in SAP ‘Order to Invoice’ Process that reflects right mix of full process view, advanced analytics, and daily performance visibility. eSource Solutions addresses the leakage of hard-earned money due to inefficient billing through its pioneering application, GetBilled. Effective billing requires a 360-degree view of the teams and individuals responsible for project execution, document signature, change management, and so on. GetBilled, at its core, brings transparency, visibility, accountability, and efficiency to this process that is often left out of transformation efforts.