Making Digital Order Management Work for You
Today’s executives are all asking similar questions of their Sales Order Management. “How do I get to the next generation of Zero-Touch Sales Order Management Operations?” Executives want to know how to realize more value, how to expand services, how to enhance customer experience, how to drive zero waste, and how to drive continuous process improvement initiatives.
The core solution can be designed to not only deliver an innovative and cost-effective model but also provide a progressive and de-risked approach to operations through rationalization and automation leading to best-in-class delivery capabilities.
Simplify Business Processes - Organizations should focus on driving process simplification, harmonization, and rationalization of business processes with the help of Quality Framework, which is a combination of Lean, Six Sigma, and Kaizen. Elements like process control, process audits, and transaction monitoring will ensure that resources deliver a consistent experience to customers. To move to the next generation of sales order management, organizations must assess the maturity level of their current business processes and determine the best path to achieve standardization and harmonization.
Some of the key initiatives organizations should undertake include:
- Define check points for standard input/ information from Customers / Sales teams across all channels
- Enable catalog-driven order management boosting agility and responsiveness - single, standardized repository of all transactions based on customer segmentation, product, country etc.
- Identify End-to-End Process Flows per the Complexity & Models to Uniform Order Categorization
- Focus on smart identification and removal of operational inefficiencies
- Build a unified global operating model with standardized roles, activities, and performance accountabilities
- Enable Seamless Collaboration between partners, operations, and customers
- Drive Role Localization - Deploy best-shored resource assignment to achieve optimum market intimacy in the most efficient fashion
- Deploy full order journey tracking across order milestones
- Enable mass processing capabilities in order to gain speed and efficiencies as well as manage unplanned demand fluctuations
Leverage Technology Interventions - Technology has made our world an incredibly interconnected “system of systems” and enabled a new age of multi-modal boundless collaboration that opens up almost endless possibilities across the entire supply chain. Leverage in-house or partner’s investment in edge technologies like Intelligent BPM, Artificial Intelligence, RPA & Smart Scripts automating order management processes to reduce costs, achieve hyper-efficiencies and improve service levels.
Technology interventions that organizations should evaluate to eliminate manual activities and enable intelligent machine interactions:
- Intelligent BPM – for Workflow Orchestration and intelligent case management
- Robotics Process Automation: To achieve market-leading performance shifts in transaction execution workflow
- Smart OCR : Capturing and codifying unstructured inputs to structured inputs from physical paper records, image files, PDF documents etc.,
- Artificial Intelligence - predict supply and demand events that may impact the customer delivery requirements and recommend actions to ensure the customer delivery requirements are met
- Implement Auto-KCIs (SMS/Email): Critical customer updates through triggered activation
- Deploy Intelligent Virtual Assistant: Smart chat facility
- Deploy Predictive Milestone Failure Alerts: Early warning of potential supply disruptions
- Digitize SOPs and create a single integrated repository of all operational documentation - Transactional histories, business intelligence, and guided libraries
Apply Analytics to gain Customer and Operational Insights – Along with gaining valuable customer and operational insights with the help of historical transactional data, organizations can also deliver actionable and fact-based insights that will aid in conducting intelligent analysis & will make it not only easier to visualize and interpret the data, but also to understand the reason behind patterns. The solution should include Data Visualization, Predictive and Prescriptive Analytics, Business Intelligence & Reporting.
Initiatives that organizations should take to reduce cost structure, improve efficiency, responsiveness, and predictable decision-making.
- Deploy End-to -Analytics - Powerful core- and expanded analytics capabilities ranging from predictive to prescriptive
- Implement Real-time Dashboards- Order analytics framework to gain end-to-end visibility with any device
- Enable Sales through Service Prediction- Buying pattern recognition to enhance future sales interactions
- Ability to build Customized Reports Drill down from Region > Country > Process > Team > Agent level
- Milestone-level performance drilldown – Cycle time between stages, Fulfilment and revenue realization tracking by value, Predictive service level against Customer requested delivery date
- Deploy Smart Operations - For Smart Tracking & Visual Management
- Customer Satisfaction (NPS Analytics) - Act on detractor risk to avoid revenue losses
Innovate - It is no longer acceptable to be an exceptional implementer; instead, you must innovate to stand out in the crowd. How can you elevate customer service while reducing cost and increasing profit? Doing what you used to do better will not cut it! You must innovate.
Leverage Blockchain for Order Management and fulfilment process that provides end-to-end visibility and unparalleled data validation for order management with touchless invoice generation for participants in the SCM value chain. Select features should include:
- Near-real time availability of relevant data on the shared ledger
- Transparent collaboration of disparate parties in the business network
- Smart contract enabled validation & business rules
- Secured, shared immutable registry that becomes a “source of truth” for the process state
- Peer-to-peer model which integrates different enterprises over a common network
- Near real-time tracking of moving assets
- Automatic inventory check and adjustment against orders
- Automatic invoice generation & reconciliation
In summary, working on these initiatives will see an impact on both the top and bottom lines