Cash conversion cycle (CCC)
We have often worked in departmental silos to optimize Procure-to-Pay (P2P) cycle times in Procurement and Order-to-Cash (O2C) cycle times in Sales, but have we joined hands with Warehousing and Sales in optimizing in Cash conversion cycle (CCC) times for the overall benefit of our organization?
Hi SS, In my experience it really depends on the industry, business maturity, funding etc. It is also a personal choice. What suits one company may not suit the other. My suggestion is to compare and contrast the systems that you are considering and then get the business to access its user friendly approach and ability to provide the right analytical data and key insights. Additionally, the after service focus, licensing arrangements et. are key focus areas to consider. Cheers, Keith
Cash is king in most businesses. I believe having a transparent dashboard with all the key reporting indicators that include the procurement, supply cycle and the opportunity cost to get things done will assist organisations understand the actual and true financial position they are in. Having separate departmental silo's does not help the organisation move forward.