Revenue Cycle Effectiveness
Synergetics knows that it is the Revenue Cycle process where substantial efficiency improvements can be made and real quantifiable bottom-line savings realized, particularly those involving cash management and capital allocation. By working directly with your finance staff in looking at the stages of your Revenue Cycle, we can see how well you’re managing money and make changes to any stage accordingly which rapidly translate to bottom line benefits.
Our experience has shown us that Revenue Cycle inefficiencies can often be linked to slow, inaccurate, and poorly defined paper-based workflow and capture processes. The results are typically: re-work when processing duplicate invoices with the risk of large overpayments, ‘lost’ vendor payment discounts, poor working capital management, and an ineffective vendor feedback experience when querying the status of an invoice.
When Synergetics embarks upon a Revenue Cycle engagement, we do not underestimate the importance of change management and the culture of your organization. Those who find security in paper are not easily convinced to give it up. Often when an A/P management solution is implemented, the important ‘people-aspect’ is ignored, and the success of a solution is often dependent on whether or not the solution is used. The experienced team at Synergetics is able to manage these changes within your organization, especially those involving both technological and people driven processes.