The Great Digital Transformation for Manufacturing Finance
Digitization of the manufacturing finance space in the United States has produced incredible benefits. Super-efficient mass production of parts, excellent cross-team collaboration and real-time data access for all key stakeholders are among the many wins that have generated real value.
For example, wide-scale digitization has enabled demand-focused and highly responsive supply chains that are both automated and cost-effective. As a real-time response to supply demand, the digitized supply chain has increased profits, shortened lead times, and provided unparalleled visibility for all stakeholders. Digitization has completely transformed the supply chain world.
Gradually, this digital revolution is gaining traction across finance departments who realize that what worked so well for manufacturing solutions will also work for their cash flow operations.
In the business world, it’s all about cash flow. Finance leaders of manufacturing organizations need to have a clear sense of how current and future balances and cash flows are looking, to better manage the money. But the current way of doing things is laborious and time-consuming.
Many businesses extract balances from bank statements, requesting various subsidiaries for monthly, quarterly or annual balance reports. This data is then collated in spreadsheets by staff who no doubt wish they were doing something more rewarding.
Automated Cash Management
Smart cash management software is the way forward for payment reconciliation. Implementing end-to-end intelligent automation provides clarity on actual and future cash balances and flows. It provides financial leaders with what they need: a highly automated process that is operationally fast and provides real-time data, quickly.
Streamline Your Entire Financial Operation
For real success in improving your cash flow, integrate cash application solutions and SAP S/4 Hana into your existing SAP. You will still need to stay on top of late payments, but your new end-to-end AR automation solution will up your cash application game. Automating easily across the entire scope of your cash flow process will help mitigate any security concerns, but also enable you to sidestep potential skills shortages. SAP S/4 Hana implementation will also reduce DSO and enable you to reallocate your most important resources.
Manufacturing Finance can win with FS2 and SAP S/4HANA
By integrating FS2 and SAP S/4 into your existing SAP you will be streamlining your entire AR process. You and your key stakeholders can expect to gain far greater visibility, allowing for confident strategic decision-making. From the boardroom to the factory floor, you will make better, more informed decisions.
By eliminating all manual data entry costs, your talented manufacturing finance team can focus on more exciting projects. You will see your match rates increase, and exception handling will be greatly improved.
Automating your payments process from end to end also means lower DSO, improved resource allocation, and of course, significantly improve cash flow.
Serrala’s cash application solution is designed to meet your specific deployment requirements. You get to choose what works best for you, whether it’s cash application in SAP, cloud, hybrid cloud, or receivables as a service. Each of these is combined with a holistic SaaS offering, so you can manage deployment and ensure the best ROI.
You get full control of your chosen solution. You can set up your own posting rules with pre-built templates supported by artificial intelligence. This will maximize payment reconciliation and really improve cash flow.
How to Improve Cash Flow for the US Manufacturing Industry
A business organization’s order-to-cash cycle — from credit management and sales order processing through to cash application, deduction handling, and collections – is its financial lifeline. By necessity, it must be fast and extremely efficient. All businesses need a steady flow of incoming cash to purchase parts or raw materials.
They need to finance the manufacturing and distribution of products, support marketing, sales, and research and development departments as well as the overarching governance and administration of the business itself. To ensure that cash is available, it must flow in consistently and quickly.
Download our eBook to see just how to improve your cash application process at your manufacturing organization to improve the influx of cash flow.
Explore the Advantages of Using Serrala's Cash Application Solution
Manufacturing Solutions - The Way Forward for Automating Manufacturing Sector Cash Flow
General Electric’s World-class Cash Application Solution
Game Changers: FS2 and S/4 Hana Implementation
Serrala has 35 years plus experience as a supplier of cash application. We provide highly standardized, market-approved solutions that feature outside-the-box functionalities.
Partnering with us at Serrala gives you a compelling cash application experience, including data capture, format processing, payment reconciliation, and ultimately the highest quality reporting available. With S/4 Hana implementation achieve automation rates of up to 96% and payment matching powered by the most innovative artificial intelligence.
Just imagine a world without manual work. A world free of cash flow concerns.