As the Malaysian government’s e-invoicing mandate takes effect, finance leaders are faced with the challenge of not only adapting to the new digital invoicing landscape, but also optimising the entire invoice-to-cash cycle. Esker, a leader in end-to-end order-to-cash automation, is poised to guide businesses through this transformation, offering a comprehensive suite of solutions that extend beyond just e-invoicing.
Beyond e-invoicing: The Importance of the Invoice-to-Cash Cycle
While the e-invoicing mandate focuses on the invoicing process, finance leaders must recognise that the true value lies in optimising the entire invoice-to-cash cycle. This holistic approach ensures that businesses not only comply with the new regulations, but also improve cash flow, enhance customer relationships, and drive overall financial efficiency.
The invoice-to-cash cycle encompasses a range of critical activities, including:
- Invoice creation and delivery
- Payment processing and collections
- Cash application and reconciliation
- Reporting and analytics
Neglecting any of these steps can lead to delayed payments, increased Days Sales Outstanding (DSO), and a host of other challenges that can undermine a business’s financial health.
Esker’s Comprehensive Invoice-to-Cash Solutions
Esker understands the multifaceted nature of the invoice-to-cash cycle and has developed a suite of solutions to address each crucial step. By partnering with Esker, finance leaders in Malaysia can unlock the full potential of the mandate and streamline their entire order-to-cash process.
Collection Management
Ineffective credit and collections strategies, siloed and manual collection processes, strained customer relationships, and lack of automation and predictive insights are the key challenges in collection management. Poorly defined credit policies, inconsistent follow-ups, and limited visibility over the collections workflow can lead to delayed payments and increased write-offs. Aggressive collection tactics can damage customer trust, while the absence of predictive analytics hinders the ability to proactively identify and address potential payment risks.
Esker’s accounts receivable automation solutions can help by streamlining the collections process, providing centralised visibility, and leveraging machine learning to prioritise and optimise collection efforts. This helps improve cash flow, strengthen customer relationships, and reduce the risk of write-offs.
Cash Application and Reconciliation
Complex reconciliation processes, incomplete or inaccurate payment information, visibility and reporting gaps, and regulatory compliance concerns pose significant challenges in cash application. Manually matching payments to open invoices, resolving unmatched payments, and lacking comprehensive reporting on outstanding receivables can impact cash flow and decision-making. Evolving regulatory requirements also necessitate accurate and compliant cash application processes to avoid potential penalties.
Esker’s cash application capabilities automate the matching of payments to invoices, improve visibility, and ensure compliance, enabling finance teams to accelerate cash flow, enhance customer experience, and gain valuable insights for better decision-making.
Reporting and Analytics
Esker’s comprehensive reporting and analytics capabilities give finance leaders the insights they need to make data-driven decisions, identify areas for improvement, and drive continuous optimisation of the invoice-to-cash cycle.
Unlock the Full Potential of the Invoice-to-Cash process with Esker
As Malaysian businesses navigate the e-invoicing mandate, finance leaders have a unique opportunity to transform their operations and unlock new levels of efficiency and profitability. By partnering with Esker, companies can seamlessly transition to the new digital invoicing landscape while also optimising the entire invoice-to-cash cycle, from invoice creation to cash application and beyond.
To learn more about how Esker’s comprehensive Invoice-to-Cash solutions can help your business thrive in the e-invoicing era, do visit our website.
