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O2C Productized Solution

O2C Productized Solution

Abstract

Order-to-Cash (O2C) definitions in the FAO industry originate from the software industry to designate a specific subdivision of the accounts receivable  process.  The order-to-cash systems enable the integration of the order management department with the accounts receivable department. Some of the largest players of the software industry agree on a common definition of order-to-cash, linking the order management process and the accounts receivable financial department. Value creation comes from the optimal utilization of resources – People, Process and Technology managed by a team of Professionals and Domain experts resulting in a scalable, sustainable O2C infrastructure and significant improvement in operating costs and working capital thus directly impacting the client’s bottom line.
 

Excerpts from the Paper

O2C solution is one among the three products available to end clients as part of the FAO product kit from HCL. FAO product kit has three distinct products namely P2P – Procure- to- Pay providing solutions to automate and transform accounts payable and travel expense function, O2C – Order to Cash providing collections, cash application and cash posting leading to 100% on time, on- account posting, reduced DSO and improved visibility to operating cash and R2R – Record to Report providing journal entry posting, cash, bank and intercompany reconciliation services and financial closing resulting to on time closure of books of accounts facilitating proper business reporting. Clients have the option to choose one of the products or shall resort to a comprehensive widely recommended package called “FAO in a box” (3 in a box).

Most of our clients who resort to subscribing one product initially end up buying all other products. Comprehensive package is ‘One Stop Solution’ for clients finance function and it transforms the CFOs role from a “Bean counter” to a “Strategic Advisor”. Though O2C, P2P and R2R are standardized products, our endeavor is to custom fit the components during implementation (transition) to execution (steady state operations) phase. We do not believe in ‘one size fits all’ as each clients business problems and needs are unique to their respective industry. HCL ensures that we deploy the necessary Architects who understand the industry and has hands on experience in Order to Cash landscape. 

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