Sign In  |  Register  |  About Daly City  |  Contact Us

Daly City, CA
September 01, 2020 1:20pm
7-Day Forecast | Traffic
  • Search Hotels in Daly City

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

The Hackett Group: New Customer-to-Cash Receivables Creation Research Highlights the Ability of Top-rated Software Providers to Deliver Greater Value Realization

A new Digital World Class Matrix analysis and ranking of 18 leading customer-to-cash (C2C) receivables creation software providers by The Hackett Group, Inc. (NASDAQ: HCKT) finds that the market contains both mature, well-established software providers and new entrants. The research found that leaders deliver far greater value and breadth of capabilities than other software providers, which translated to exceptionally high customer satisfaction. The research found that higher-rated software providers in this category offer clients dramatically greater value realization.

The C2C Receivables Creation Digital World Class Matrix research focused on the processes of credit management, order management, and customer billing/electronic invoice presentment and payment processes (EIPP). Across all three processes, The Hackett Group® found that the leading software providers consistently offered the ability to support: global, complex clients; data integration and “out-of-the-box" pre-built connectors; and well-designed analytics and reporting dashboards.

The research quantified the improved value realization that Digital World Class® C2C software providers can deliver, including:

  • 40% greater ability to intelligently automate credit risk scoring through the use of intelligent/predictive risk-based scoring models
  • Eight full-time equivalent staff reallocated (per billion of revenue) through automation, increasing accuracy and reducing cycle times
  • 50% potential process cost savings, with technology-optimized credit, order management and billing/EIPP
  • $7 million in additional receivables collected on time, avoiding collection costs, provisions or write-offs (for a $5-$10 billion company).

The Hackett Group’s research recognized software providers in three separate process categories: credit management, order management and customer billing. While no software provider achieved Digital World Class status in all three areas, two vendors managed this in two out of three: Esker (order management and customer billing) and HighRadius (credit management and customer billing). Both of these software providers were also ranked as Digital World Class in a separate 2023 Digital World Class Matrix that analyzed and ranked nine leading C2C receivables management software providers. In that research, FIS Global was also awarded Digital World Class status.

In credit management, three companies were awarded the designation of Digital World Class: Dun & Bradstreet, FIS Global and HighRadius. Another seven companies were named as “Challengers”: Bectran, Billtrust, Esker, SAP, Serrala, Sidetrade and Oracle. Additionally, two companies were identified as “Emerging”: Invevo and Quadient.

In order management, two companies were awarded the designation of Digital World Class: Esker and Manhattan Associates. One company was named as an “Innovator”: Elemica. Another six companies were named as “Challengers”: Billtrust, Blue Yonder, Conexiom, SAP, Sidetrade and Oracle.

In customer billing, three companies were awarded the designation of Digital World Class: Billtrust, Esker and HighRadius. Another six companies were named as “Challengers”: BlackLine, SAP, Sidetrade, Versapay, Oracle and Quadient. Additionally, two companies were identified as “Emerging”: FIS Global and Invevo.

“Our research found that the top-performing C2C receivables creation software providers have listened to their customers and truly focused on helping them deliver operational process excellence. These providers have evolved their software and are now offering a digital experience that extends well beyond transactional automation. They have greater options, more flexibility, are better suited for globally complex environments, and deliver outstanding information visibility and process insights within a user- and customer-friendly interface. This allows them to deliver exceptional return on investment. It’s an exciting time to be a software provider or buyer of these solutions,” said The Hackett Group Associate Principal Bryan DeGraw.

“Our research found some providers have purposely designed their software to only focus on one portion of the C2C process,” DeGraw continued. “However, most software providers have modules that support multiple C2C processes from receivables creation to receivables management, offering their clients significant benefits. Users can have a single sign-on to a consistent interface that allows them to manage their account portfolios through the entire receivables life cycle. In addition, there’s less technology complexity, which can reduce costs associated with multiple tools, integrations and licenses.”

The Hackett Group Senior Director Richard Gardner added that, “Another important finding from our research is that one size does not fit all. These software solutions have a different mix of capabilities and extended ecosystems that are better suited to companies based on their channels, industries, and other factors. Companies need to consider a range of factors – from their business objectives and geographic scope to their process scope, integration needs and appetite for investment – before selecting their software provider.”

The C2C Receivables Creation Digital World Class Matrix and related research are products of The Hackett Group’s Market Intelligence Service. The service is designed to evaluate software and service providers’ abilities to deliver quantifiable results from specialized, differentiated capabilities.

The Hackett Group defines Digital World Class in the context of the Digital World Class Matrix as the attainment of top-quartile performance for both depth/breadth of features and functionality (capability), and value realization and multiple clients and with the ability to generate future clients of this level.

The Hackett C2C Receivables Creation Digital World Class Matrix is part of The Hackett Group’s full 89-page research report. This research is available now to The Hackett Group’s Advisory membership program clients. The C2C Receivables Creation Digital World Class Matrix should be read in the context of the entire report. A 25-page summary report is also publicly available on a complimentary basis, with registration, at https://go.poweredbyhackett.com/dmc2csum2402nr. Inquiries regarding purchase of the full research report can be made at https://go.poweredbyhackett.com/dmc2cful2402nr or by visiting the web page for our Market Intelligence Service at https://www.thehackettgroup.com/market-intelligence.

The Hackett Group does not endorse any participant, vendor, product or service depicted in its research. This research should not be considered as advice that a company considering C2C software solutions select only those participants based on their ranking or position on the Digital World Class Matrix. The Hackett Group’s research publications consist of the opinions of its research organization and should not be interpreted as factual statements. The Hackett Group disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

About The Hackett Group

The Hackett Group, Inc. (NASDAQ: HCKT) is a leading benchmarking, research advisory and strategic consultancy firm that enables organizations to achieve Digital World Class® performance.

Drawing upon our unparalleled intellectual property from more than 26,000 benchmark studies and our Hackett-Certified® best practices repository from the world’s leading businesses – including 97% of the Dow Jones Industrials, 89% of the Fortune 100, 70% of the DAX 40 and 55% of the FTSE 100 – captured through our leading benchmarking platform Quantum Leap® and our Digital Transformation Platform, we accelerate digital transformations, including enterprise cloud implementations.

For more information on The Hackett Group, visit: https://www.thehackettgroup.com/; email info@thehackettgroup.com; or call (770) 225-3600.

The Hackett Group, Quantum Leap and Digital World Class are registered marks of The Hackett Group.

Cautionary Statement Regarding “Forward-Looking” Statements

This release contains “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933 as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Statements including without limitation, words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” seeks,” “estimates,” or other similar phrases or variations of such words or similar expressions indicating, present or future anticipated or expected occurrences or outcomes are intended to identify such forward-looking statements. Forward-looking statements are not statements of historical fact and involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements to be materially different from the results, performance or achievements expressed or implied by the forward-looking statements. Factors that may impact such forward-looking statements include without limitation, the ability of The Hackett Group to effectively market its digital transformation and other consulting services, competition from other consulting and technology companies that may have or develop in the future, similar offerings, the commercial viability of The Hackett Group and its services, as well as other risk detailed in The Hackett Group’s reports filed with the United States Securities and Exchange Commission. The Hackett Group does not undertake any duty to update this release or any forward-looking statements contained herein.

Contacts

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Copyright © 2010-2020 DalyCity.com & California Media Partners, LLC. All rights reserved.