In an effort to fill the gaps in the order-to-cash process, the Revenue Cycle Management (RCM) arena has grown tremendously over the past couple of years. This market growth has created the development of increasingly sophisticated and robust automation solutions that make Straight Through Processing (STP) opportunities within the order to cash process the norm, rather than the exception.
PayStream analysts felt that the time was ripe to re-evaluate the RCM market through the development of a new RCM report that is slated to be published by PayStream in early January 2013. The last RCM report was published in 2007 and the past five years have brought about a lot of changes in the RCM market.
Today’s sophisticated RCM automation solutions help companies streamline accounts receivable collections and better manage accounts receivable credit and collections activities to successfully reduce Days Sales Outstanding (DSO) and overcome obstacles in the process. RCM solutions achieve this by:
- Consolidating information,
- Automating repetitive tasks,
- Generating actionable intelligence, and
- Driving workflow based on user defined rules and routines.
Today’s RCM solutions provide a wide spectrum of tasks and intelligence that ensure timely payments by customers, ranging from evaluating credit risk, assuring invoice accuracy, applying payments, managing collections, resolving disputes and analyzing data.
The upcoming 2012 Revenue Cycle Management report will be geared towards Customer Care, Collections and Accounts Receivable professionals who are seeking information regarding collection management solutions to automate their B2B collection management process. The report will help buyers make vendor and technology selection decisions as they evaluate new collections automation strategies and solutions. PayStream will focus on collections automation solution providers who have strong capabilities and product strategies to meet the needs of medium and large corporations. In addition, the report will provide our analysts’ unbiased view of credit and collection trends and best practices, as well as deliver insights on providers who are currently shaping the RCM industry.
Be sure to check back in early January to download your complimentary copy of the RCM report.
Mark your calendar for the upcoming Order-to-Cash Virtual Summit event that is scheduled on February 13, 2013. During this event, PayStream will take an in-depth look at RCM automation and other related topics in the order-to-cash process. Join us for interactive, moderated case studies from leading companies that bring together typically disjointed departments such as Accounts Receivable, Billing, Credit, and Collections under a streamlined order-to-cash process. Case studies will be presented on key topics like benchmarking, metrics, collections automation, and EIPP (Electronic Presentment and Payment).
