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8 Top Ways to Optimize the Healthcare OTC Process at Every Stage

September 23,2020

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Highlights

Improvement in cash and working capital in the healthcare sector is a critical issue. Hence, enhancing the existing Order-to-Cash process for the healthcare sector is essential as per the research of Global Healthcare Exchange, LLC.
They conducted this research by surveying 100 financial professionals from the suppliers in the healthcare sector. It reported that 88% of finance executives feel the pressure to improve cash and working capital performance. As a result, it risks the company’s growth.

Another key focus area is enhancing the cycle time of receivables/order-to-cash. The financial executives are finding it difficult to achieve the goal without automation.

The healthcare sector, particularly the medical devices and pharmaceutical companies, are under constant pressure to deliver more with and less. They realize the importance of optimizing their existing order-to-cash process.

Read here to know everything about Quote-to-Cash.

Eight ways to optimize the OTC for healthcare

The competition is striving, and customers are demanding more. In such a situation, nothing left instead of optimizing the OTC process to enhance cash flow. Let’s discuss the top eight ways to optimize your order-to-cash process for the healthcare process:

Enable Customer Automation Management

Customer Automation Management helps you to automate all the manual transactions around the order-to-cash process. It empowers healthcare suppliers to integrate the operations by minimizing data processing time and cost. We help you to capture, centralize, share, and automate resources on a dashboard.

Here, the customers don’t need to change their existing process, and our custom OTC optimization will ensure more error-free operation.

Receiving Order with Customer Automation Management

We do order and pre-order automation to process orders accurately. It helps you to:

Fulfill your orders with automation

By optimizing your O2C, we help you to automate the stock movement along with location and time. We also assist you in automating transactional messages and booking and bay management across your organization.

Deliver orders with automation

At CommerceCX, we help businesses to integrate and automate the order delivery system. We acquire, collate, and automate all inputs from various sources and convert them into usable data. It enables your OTC process to flag issues automatically. Also, it provides realtime OTIF metrics.

Automate Invoices

With our OTC optimization, you can link data from all transaction messages customers submit with internal systems. You can identify the issues in master data and rectify them before they get into the accounting system. Also, you can automate repetitive interventions.

Payment Notification Automation

We integrate built-in intelligence monitors to collate, capture and automate various payment notification types. You can easily flag the outstanding issues and view the unreconciled transactions.

Automate your disputes

When you optimize your order-to-cash process with us, we help you automate reconciling the suppliers and client deliveries with claims documentation. Besides, we empower you to identify general patterns of miscommunication and reduce the same.

Customer care automation

We help you to streamline and automate complaints through instant notifications. Also, it supports detecting complaint trends and product failure. The OTC optimization enables you to have a holistic view of such information in the customer care dept.

What kind of benefits your business gets by optimizing OTC?

8-Top-Ways-to-Optimize-the-Healthcare-OTC-Process-at-Every-Stage

When you optimize your order-to-cash process, you can avail of many benefits that fulfill your dream of a better cashflow. Some of the key benefits are:

Why order-to-cash optimization with CommerceCX?

At CommerceCX, we help the many business verticals, including the healthcare sector, to implement Quote-to-Cash as per custom requirements. As an inseparable part of the QTC process, we also provide order-to-cash optimization services with a certified Salesforce team’s expertise. We help you to enhance the customer experience in every stage of the order-to-cash process.
Get in touch with us to optimize customer experience with our custom OTC optimization.

About CommerceCX: CommerceCX is a global consulting, design, and development firm. We provide organizations with the solutions and services that support the transformation of a commerce ecosystem. We specialize in CRM, Quote-to-Cash, Lead to Cash, and have strong Salesforce, Apttus, and Microsoft Technologies expertise. Leveraging our solutions, organizations can connect technology, data, and insights to unify and enhance the buying, selling, and service experience that powers the commerce ecosystem.

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