The State of Order to Cash: Insights from SSON and the Latest Gartner Magic Quadrant

Tim Fogarty 00:04
Okay, yeah, come on, let’s hear it. I promise I’ll make this quick. So you can go get something cold to drink. Okay, so look, this is important. You know, every once in a while, I think we as leaders have an opportunity to talk about something that we are passionate about and proud of, and when if you haven’t already read these two reports, we hope that you take the time between now and the end of the week, to really read through these to some great insights between the two reports. So we’re gonna focus on two things, we’re talking about the two reports itself. And you know, Heather actually helped me present that, but the what are the key themes that came out of the report? What was the output based upon the feedback from not only 70 Plus finance and GBS leaders, but all of you? So we’ll go into a little bit more detail. And then what are we looking for when we think about the finance leaders? And what are we trying to accomplish? We know we’ve had challenges in the last few years with COVID, obviously, priorities have changed. And then lastly, how can radians help? You’ve spent the last couple of days learning more about our products and services. Hope you get to enjoy the rest of the day and tomorrow, answering you know, asking a lot of questions and participating in the events. And then I’ll leave it for a couple of minutes, so for questions.

Tim Fogarty 01:33
So to begin with, the SSON reports the state of Order to Cash and Shared services. So if we think about one of the key themes is, how are our Shared services and GBS leaders? How are they optimizing their teams? How are they leveraging their global networks? So, they’re leveraging their Shared service centers or Captive centers, so they’re processing the more complex customer sensitive activities, as well as leveraging their global delivery centers. So obviously, if you optimize those centers, you’re driving working capital, you’re meeting your targets, whether it’s cost reduction, working capital, and whatnot. But I think one of the things I wanted to spend a few minutes on is something we are very proud of HighRadius, is the Gartner Magic Quadrant report for Invoice to Cash, we’ll take a minute and want to welcome everybody from HighRadius stand up, be recognized, we’re very proud of this, we were identified as the market leader for Invoice to Cash automation. Yes, come on. And you know, what customers you get to stand up to because you’re the one that rated us. Or he could sit down and try to stay cool.

Tim Fogarty 02:56
Okay, so you know, if you take a look at what the key themes are, obviously, there are always opportunities and targets to reduce costs. And we’ve really seen a change in how finance leaders are approaching customer experience. We know it’s not just about cost reduction, it’s about making interactions with your customers easier, eliminating work through automation, as well as our AI and Machine learning potential across all of our products. You know, I’ve been fortunate enough to work with some amazing customers, and we’ve really seen, I would say an increased focus on implementing an integrated solution. So all the way from when you’re setting a customer up, straight through to having an invoice paid, and hopefully that you would all agree preferred to have an invoice paid on time. So when we think about the rating that came from the reports, and thinking about what the GBS leaders are trying to accomplish, there’s a few things. One, how do you optimize your captives centers and again, that’s by leveraging technology, as well as process efficiency. So you’re allowing your teams to focus on the areas that they need to drive, whether it’s working capital reduction in bad debt, or cost savings. And then you know, I think the key here is, if you have time to read through the report, we go into detail about how do you leverage those resources and those skill sets to differentiate yourself from your competition. I think that differentiation helps drive that customer experience as well as really helps you drive your journey through digital transformation.

Tim Fogarty 04:50
Okay, now notice something here. If you look at the Magic Quadrant report, notice where HighRadius is where to Up, upper corner. That’s where we all want to be right. So one of the things that we’re passionate about here at HighRadius is not only being number one but continuing to improve. So as we think about how we differentiate ourselves from our competition, as well as how we continue to innovate, and improve our offerings and support of our customers, obviously, it’s based on a few things. And the report actually spends time describing how this differentiates ourselves from our competition, one our ability to execute, I think all of us are the majority of you have gone through a number of implementations. So design the right solution and implement it. The second is the vision, the completeness of the vision, and the end-to-end integrated solution that drives value and continuous improvement across your organization.

Tim Fogarty 05:56
So, a couple of other things I want to just focus on before I let you go and grab something cold to drink. So if we think about the views of the future of order to capture information, the things that we’re hoping to accomplish here, at HighRadius, and again, these are some key themes that were presented across the reports, you’ll notice, if you go back to that chart, if you’re looking at the presentation on your phone ERPs are actually missing from the list. Finance leaders have come to the realization you can only optimize your ERP is to the extent where you start to look for that next level of automation, that next level of integration with with other platforms, I presented the credit cloud presentation a little while ago, we talked about aggregating more than 40 different credit agencies into the platform. Having an integrated platform that talks amongst each other, so your cash application team can interact directly with your collectors. Again, it’s all about improving that customer experience, as well as leveraging our AI and machine learning. Allow the technology to help your team become more efficient and more effective. And at the end of the day, it’s a conversation we have with every single client of ours. How do you drive value? And how do you accelerate value from the platform? And how do you continue to drive value through the life of the project?

Tim Fogarty 07:32
Okay, so again, if you’re on the app, you can actually take a photo of these QR codes. Those are the actual reports themselves, you can review them. I can tell you, if you just park 10 minutes of your time, and just go through these reports. You’ll have some great insights, a lot of effort went into the analysis. Again, it was all based upon information that over 70 Finance leaders GBS leaders provided as well as all of you, our customers, and I can’t tell you how proud I am, I know I speak for the talented group of HighRadians in the crowd and those that decided to walk away and now listen to my presentation. We’re all proud to be a HighRadian today. So, thank you.