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Leave No Cash Behind with the Shipped Not Invoiced App
Picture this: the orders have been confirmed, the goods have been shipped – but the orders are never invoiced and left unnoticed. This creates an imbalance where the business has incurred costs of goods sold, but not collected payments from customers, leaving cash on the table. This uninvoiced order value is called unbilled revenue, which refers to recognized revenue that you have accounted for, but not yet billed to the customer.
Why do these situations occur? This is because order management processes can be highly manual, fragmented, and riddled with inefficiencies that lead to missed and late invoices. Billing blocks, incomplete order data, and complications from drop shipping and coordinating with suppliers all make it harder to spot these unbilled orders.
This process is highly reliant on order management teams - if the order management team does not invoice the customer, the unbilled revenue cannot move to accounts receivable to collect the cash owed to the business. However, most organizations aren’t aware of the magnitude of the problem, let alone equipped to take action to prevent and resolve it.
Meet the Shipped Not Invoiced app for order management. The app automatically surfaces old unbilled orders to accelerate invoicing, and empowers your team with proactive reminders and actions to ensure on-time billing for all future orders.
How does unbilled orders impact the business?
Slashes profit: Each missed invoice chips away at your P&L. Unbilled revenue adds up to a massive loss with each write off that takes place.
Delays cash conversion: Not billing orders in time delays incoming cash, negatively impacting cash flow for the business.
How does the app ensure on-time billing?
With simple and easy-to-use operational views, order management teams can use the Shipped Not Invoiced app to:
Detect all unbilled orders
First, The app automatically surfaces any orders that need to be invoiced no matter when the order is shipped in 2 ways:
Corrective: The app identifies long-running unbilled orders to recover revenue leakages. Surprisingly, many uninvoiced orders can go unnoticed for months and even years.
Preventative: The Shipped Not Invoiced app ensures in-time billing for every newly shipped order in the future to accelerate cash conversion.
Resolve pressing open issues
Next, the app dynamically prioritizes urgent orders to invoice based on invoice due date, goods issue date and order value. From there, the users receive recommended actions, such as notifying stakeholders through email, to allow invoice creation.
Accelerate productivity
Finally, order management teams can accelerate billing easily by automating time-consuming, low-value activities such as removing billing blocks or sending email communications.
Invoice every order with the Shipped Not Invoiced app
To learn more about the Shipped Not Invoiced app, register for Celosphere 2022 to attend in-person or virtually. We will dive deeper into the app during the “Drive Value in Order Management” session on November 10th, 2022.
Celonis customers can also reach out to their account team for assistance implementing the app.
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