Closing the DSO gap between top performers (24.1 days) and benchmark company (53 days) would:
- Free up $395,890,411 in working capital
- Reduce risk by reducing bad debt to sales ratio
- Cut cost per collection, often drastically – best-in-class is $8.71 per collection versus $42.73 for average companies
You can read more about this research here.
Better Than RPA, BI, and Spreadsheets
Next Steps – Your Own X-ray and Report Card
The sooner you begin, the sooner you’ll close your O2C execution gaps. Doculabs can help you use process mining to delve into your data so you know where you need to improve now and where you can create value in the future.
We do this with a “CFO Report Card” approach. It’s an X-ray of your current data combined with Doculabs industry expertise combined with process mining from Celonis to:
- Diagnose how well core processes, such as accounts receivable, are performing
- Provide an executive summary report that will include process improvement recommendations in order to budget for 2022.
Ready to see what your “grades” are?