Why manual contract-to-cash holds finance back
Blog post from Orb
Contract-to-cash processes, crucial for turning signed enterprise contracts into revenue, are predominantly manual and have become significant bottlenecks in the finance sector due to increasing contract complexity and hybrid business models. This manual workflow involves extracting contract terms, reconciling them with usage data, and preparing invoices, often leading to time-consuming, error-prone tasks that delay cash collection, increase audit risks, and necessitate additional staffing. The inefficiencies are exacerbated by the growing expectations for faster, error-free financial operations, highlighting the substantial opportunity cost of skilled accountants being tied up in manual tasks rather than strategic financial analysis. Orb Contract-to-Cash offers a solution by automating the process, allowing finance teams to upload contracts and usage data, and generate audit-ready invoice schedules quickly, reducing invoicing delays, audit risks, and the need for additional staff while empowering finance professionals to focus on accuracy and compliance.
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