Business resilience now qualifies as a crucial organizational capability that each major business process, including the order-to-cash (O2C) cycle, must help nurture. Delivering on this mandate requires getting the right technology in place—namely, a network platform that makes B2B payments processes hum by removing manual steps while engendering higher levels of customer loyalty.
B2B companies with leading digital O2C capabilities made significant contributions to organizational resilience during the brunt of the pandemic. During COVID-19, “companies all over the world woke up to the fact that to generate liquidity and conserve cash for their very survival, they need to minimise the risks in—and maximise the returns from—the O2C process,” according to a BCG report.
BCG’s research also shows that digital payments transformations driven by new O2C platforms yield significant benefits across numerous areas, including: