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THE SALES AND FULFILLMENT(S&F) SERIES

1. BREAK DOWN SYSTEMIC SILOSIN ORDER RECEIPT

2. AVOID DUPLICATE SALES ORDERS 3. REDUCE DELAYS IN GENERATINGSALES INVOICE

The order management system should be interlinked with customer master,

price master, and product master database to avoid errors or delays in

the order receipt process

4. RESOLUTION IS THE BEST POLICYFOR CUSTOMER INVOICING

6. CAPTURE REMITTANCEDETAILS ELECTRONICALLY

5. DRIVE VALUE-DRIVENPROACTIVE COLLECTION

Notify the customer / site of a delay in shipment by sending an

advance shipping note (ASN), specifying the order line in terms

of container, pallet or load

Sales order numbers are sequentially numbered and performing a manual /

system check can identify duplicate orders or orders falling outside a

specified range

Build a workflow solution to ensure prompt resolution of customer short or

net payments, including handling customers’ debit memoranda

Enable automatic matching by uploading electronic remittance

advices into the sales ledger

Pursue major value debtors with phone calls, and retrieve low-value debts through automated dunning

letters. This will increase the probability of timely payments

7. ACCELERATE THE PROCESSOF RETURNS APPROVAL

Provide approvers real-time inputs on adherence to established and

updated return policies

The Sarbanes-Oxley (SOX) Act was introduced as a regulatory compliance mechanism to protect enterprises from the jaws of scandal. However, by looking beyond compliance, SOX controls can be a lever to unlock transformation across the order-to-cash (OTC) value chain. Here are 8 best practices to get you started.

8 Sarbanes–Oxley (SOX) controls best practices to transform the order-to-cash value chain

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8. ENHANCE CUSTOMER SATISFACTIONTHROUGH ACCURACY

Establish a system for recording and tracking claims and deductions with the following attributes – resolution service standards, routing of claims, and escalation of unresolved claims