Smarter Order-to-Cash process With SAP Leonardo in SAP Business One

We have previously discussed how SAP Business One can help you get from quote to cash faster with standard tools and functionalities available out of the box. Some of these include real-time stock and warehouse management, inventory purchasing process, AP/AR management and more.

Today, we are going to explore another great functionality that SAP Business One users can leverage to drive new efficiencies from within their operations and go from quote to cash faster – the automated Order-to-Cash process, powered by SAP Leonardo machine learning algorithms.

Order-to-Cash in SAP Business One: How does it work?

Traditionally, an SAP Business One Order-to-Cash process is created as follows.

• An Account Receivable accountant manually creates incoming payments;
• Payments are manually matched with the customer invoices;
• Cash accountants manually import bank statements and then manually reconcile bank records with open incoming payments.

This process is manual and time consuming for most businesses. However, SAP Business One users can now rely on a simpler and better way to get to the end result without undergoing this manual process.

AI-powered Order-to-Cash process in SAP Business One (Powered by SAP Leonardo)

According to a recent article by Gartner, “By 2020, information will be used to reinvent, digitalize or eliminate 80% of business processes and products from a decade earlier.”

Digital Transformation is a growing trend and large vendors are leading the way to a smarter future for businesses.

With Leonardo, SAP is certainly leading the charge amongst software providers. The smart SAP Business One Order-to-Cash functionality is a proof of such transformation.

First of all, what is SAP Leonardo? SAP Leonardo is a “Digital innovation system” that include Artificial Intelligence (AI), machine learning, analytics, blockchain and IoT. The platform is capable of “finding generalised, common problems across an industry […] then defining the elements of a methodology, the technologies used to solve that problem and package those up and make them available as an accelerator for the next customers”.

When applied to SAP Business One, SAP Leonardo can streamline the Order-to-Cash process using Artificial Intelligent technologies. Here is how.

When a new Bank Statement notification is received SAP Business One automatically matches the new statement with open customer invoices.

The system automatically creates suggestions for unreconciled bank records and open invoices. This is made possible by Leonardo Machine Learning algorithms.

Based on the learning patterns of all the historical clear transactions, bank records and closed invoices, together with master data, the machine can capture the knowledge and build rules. Ultimately, the system is smart enough to learn different matching criteria for different situations, continuously adapting to new data.

One integrated system to manage it all

SAP Business One intelligent Order-to-Cash powered by Leonardo gives you the ability to save time in manually identifying receivables and make informed decisions based on real-time data suggestions.

The system is proven to help you achieve a 99% match for one to one cases and 75% for one to many cases. How much time and effort could this system save an accounting department that processes hundreds of invoices every day?

For more information on how streamlining your Order-to-Cash within SAP Business One can help you achieve greater efficiencies, feel free to call us on 1300 045 046 or email info@leveragetech.com.au today.