IBN Technologies Resolves CFOs' Key Concern with Streamlined Order to Cash Process; 41% Identify Payment Delays as Top Disruptor
Pune, India, September 7, 2023 : In a recent survey conducted by PYMNTS, 100 Chief Financial Officers (CFOs) from various United States-based firms were polled to gain insights into the challenges they face in today's complex business landscape. The findings reveal that payment-related delays have emerged as the most significant source of business disruption, with 41% of CFOs identifying it as their top concern. Furthermore, an alarming 68% of respondents reported experiencing some form of payment-related disruption within the last six months.
The survey underscores the pressing need for businesses to address payment delays effectively. CFOs are keenly aware that these delays not only impact the bottom line but also disrupt operational efficiency and customer satisfaction. In response to this growing concern, IBN Technologies is stepping up to provide innovative solutions that empower CFOs to navigate these challenges and optimize their Order to Cash processes.
Ajay Mehta, CEO of IBN Technologies, underscores the importance of this endeavor, stating, "The survey results highlight a pervasive issue that threatens not only a company's financial stability but also its operational efficiency and customer satisfaction. At IBN, we are committed to providing CFOs with the tools and strategies necessary to mitigate these challenges effectively."
To combat payment delays effectively, IBN Technologies advocates for a comprehensive analysis of every facet of the Order to Cash process. This meticulous examination allows CFOs to identify both manual and automatic tasks that may be contributing to bottlenecks.
When it comes to tackling the challenge of payment delays, IBN Technologies adopts a proactive approach by implementing comprehensive automation solutions. These solutions encompass a wide spectrum of enhancements, such as streamlining invoice generation, ensuring seamless reconciliation, automating payment reminders, efficiently identifying overdue payments, and guaranteeing error-free processes. Notably, this approach aligns with the views of 40% of surveyed CFOs who recognize automation as a significant contributor to alleviating payment-related issues.
Furthermore, IBN Technologies champions the integration of operations data with clients' Enterprise Resource Planning (ERP) systems to accelerate and automate the Order-to-Cash cycle. This data-driven approach ensures greater efficiency and accuracy at every stage of the process.
When partnering with IBN Technologies for CFO Outsourcing Solutions, finance leaders can expect numerous benefits, including increased collection rates and faster payment processing, leading to a remarkable efficiency boost of up to 40%. Furthermore, IBN Technologies' solutions streamline cash flow, enhance critical business metrics, and fortify financial stability, all while expertly managing risk.
"IBN Technologies empowers CFOs to proactively manage payment challenges, fortify financial stability, and optimize business operations, ensuring a seamless and secure financial future." - Ajay Mehta, CEO of IBN Technologies.
IBN Technologies LLC is an outsourcing specialist company with clients in the United States, the United Kingdom, the Middle East, and India. The quality of IBN Tech procedures is guaranteed by ISO 9001:2015, 27001:2022 as well as a CMMI-5 certification. In its more than 24 years of existence, IBN has become a leading IT, KPO, and BPO outsourcing specialized company in the Finance & Accounting, CPAs, Hedge Fund & Other Alternative Investment business, Banking, Travel, Human Resource & Retail Industry sectors.
