Outsourcing the Revenue Cycle - Driving More Profit to the Bottom Line
- Topics:
- Evaluation
- Tags:
- Bottom Line,
- Finance,
- Operational Accounting,
- Outsourcing,
- Outsourcing Institute,
- Revenue,
- Revenue Cycle Management
- Source:
- The Outsourcing Institute
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Overview: With ongoing pressure on executives to protect bottom line numbers, it is little wonder there is a focus on creative ways to further cut costs. Accordingly, there has been growing interest in the potential benefits of business process outsourcing (BPO), particularly in the area of financial process outsourcing. For most companies, the day-to-day activities of finance and accounting are no longer seen as core competencies. Revenue Cycle Management is a vital component of a company’s overall operational and financial health. The revenue cycle, from invoice to cash, greatly affects the bottom line. In a challenging economic market, improving the bottom line by reducing costs, as well as increasing and maintaining cash flow, takes on even greater importance. Finding ways to improve net revenue is an ongoing challenge for consumer product companies in any economic climate. Streamlining and properly managing the Revenue Cycle is critical to process efficiency, but even more critical to process integrity and accuracy. Without process integrity and accuracy, pinpointing in advance just those events that can be managed to produce timely revenue, is extremely difficult.
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Format: HTML | Date: Jan 2003 | Pages: 1
