Corporate finance and revenue operations staff, after receiving a customer order, handle order confirmation, invoicing, reconciliation and collections documents to close the loop from order confirmation to cash receipt.
The old way is finance staff tracking each order through ERP plus spreadsheets and email, or handing parts of the process to a shared service center.
Order-to-cash spans order, invoicing, reconciliation and collections across multiple systems and roles; manual per-order checking and chasing is slow and error-prone, stretching the collection cycle and worsening aging.