A new Digital World Class Matrix™ analysis and ranking of 18
leading customer-to-cash (C2C) receivables creation software
providers by The Hackett Group, Inc. (NASDAQ: HCKT) finds that the
market contains both mature, well-established software providers
and new entrants. The research found that leaders deliver far
greater value and breadth of capabilities than other software
providers, which translated to exceptionally high customer
satisfaction. The research found that higher-rated software
providers in this category offer clients dramatically greater value
realization.
The C2C Receivables Creation Digital World Class Matrix research
focused on the processes of credit management, order management,
and customer billing/electronic invoice presentment and payment
processes (EIPP). Across all three processes, The Hackett Group®
found that the leading software providers consistently offered the
ability to support: global, complex clients; data integration and
“out-of-the-box" pre-built connectors; and well-designed analytics
and reporting dashboards.
The research quantified the improved value realization that
Digital World Class® C2C software providers can deliver,
including:
- 40% greater ability to intelligently automate credit risk
scoring through the use of intelligent/predictive risk-based
scoring models
- Eight full-time equivalent staff reallocated (per billion of
revenue) through automation, increasing accuracy and reducing cycle
times
- 50% potential process cost savings, with technology-optimized
credit, order management and billing/EIPP
- $7 million in additional receivables collected on time,
avoiding collection costs, provisions or write-offs (for a $5-$10
billion company).
The Hackett Group’s research recognized software providers in
three separate process categories: credit management, order
management and customer billing. While no software provider
achieved Digital World Class status in all three areas, two vendors
managed this in two out of three: Esker (order management and
customer billing) and HighRadius (credit management and customer
billing). Both of these software providers were also ranked as
Digital World Class in a separate 2023 Digital World Class Matrix
that analyzed and ranked nine leading C2C receivables management
software providers. In that research, FIS Global was also awarded
Digital World Class status.
In credit management, three companies were awarded the
designation of Digital World Class: Dun & Bradstreet, FIS
Global and HighRadius. Another seven companies were named as
“Challengers”: Bectran, Billtrust, Esker, SAP, Serrala, Sidetrade
and Oracle. Additionally, two companies were identified as
“Emerging”: Invevo and Quadient.
In order management, two companies were awarded the designation
of Digital World Class: Esker and Manhattan Associates. One company
was named as an “Innovator”: Elemica. Another six companies were
named as “Challengers”: Billtrust, Blue Yonder, Conexiom, SAP,
Sidetrade and Oracle.
In customer billing, three companies were awarded the
designation of Digital World Class: Billtrust, Esker and
HighRadius. Another six companies were named as “Challengers”:
BlackLine, SAP, Sidetrade, Versapay, Oracle and Quadient.
Additionally, two companies were identified as “Emerging”: FIS
Global and Invevo.
“Our research found that the top-performing C2C receivables
creation software providers have listened to their customers and
truly focused on helping them deliver operational process
excellence. These providers have evolved their software and are now
offering a digital experience that extends well beyond
transactional automation. They have greater options, more
flexibility, are better suited for globally complex environments,
and deliver outstanding information visibility and process insights
within a user- and customer-friendly interface. This allows them to
deliver exceptional return on investment. It’s an exciting time to
be a software provider or buyer of these solutions,” said The
Hackett Group Associate Principal Bryan DeGraw.
“Our research found some providers have purposely designed their
software to only focus on one portion of the C2C process,” DeGraw
continued. “However, most software providers have modules that
support multiple C2C processes from receivables creation to
receivables management, offering their clients significant
benefits. Users can have a single sign-on to a consistent interface
that allows them to manage their account portfolios through the
entire receivables life cycle. In addition, there’s less technology
complexity, which can reduce costs associated with multiple tools,
integrations and licenses.”
The Hackett Group Senior Director Richard Gardner added that,
“Another important finding from our research is that one size does
not fit all. These software solutions have a different mix of
capabilities and extended ecosystems that are better suited to
companies based on their channels, industries, and other factors.
Companies need to consider a range of factors – from their business
objectives and geographic scope to their process scope, integration
needs and appetite for investment – before selecting their software
provider.”
The C2C Receivables Creation Digital World Class Matrix and
related research are products of The Hackett Group’s Market
Intelligence Service. The service is designed to evaluate software
and service providers’ abilities to deliver quantifiable results
from specialized, differentiated capabilities.
The Hackett Group defines Digital World Class in the context of
the Digital World Class Matrix as the attainment of top-quartile
performance for both depth/breadth of features and functionality
(capability), and value realization and multiple clients and with
the ability to generate future clients of this level.
The Hackett C2C Receivables Creation Digital World Class Matrix
is part of The Hackett Group’s full 89-page research report. This
research is available now to The Hackett Group’s Advisory
membership program clients. The C2C Receivables Creation Digital
World Class Matrix should be read in the context of the entire
report. A 25-page summary report is also publicly available on a
complimentary basis, with registration, at
https://go.poweredbyhackett.com/dmc2csum2402nr. Inquiries regarding
purchase of the full research report can be made at
https://go.poweredbyhackett.com/dmc2cful2402nr or by visiting the
web page for our Market Intelligence Service at
https://www.thehackettgroup.com/market-intelligence.
The Hackett Group does not endorse any participant, vendor,
product or service depicted in its research. This research should
not be considered as advice that a company considering C2C software
solutions select only those participants based on their ranking or
position on the Digital World Class Matrix. The Hackett Group’s
research publications consist of the opinions of its research
organization and should not be interpreted as factual statements.
The Hackett Group disclaims all warranties, expressed or implied,
with respect to this research, including any warranties of
merchantability or fitness for a particular purpose.
About The Hackett Group
The Hackett Group, Inc. (NASDAQ: HCKT) is a leading
benchmarking, research advisory and strategic consultancy firm that
enables organizations to achieve Digital World Class®
performance.
Drawing upon our unparalleled intellectual property from more
than 26,000 benchmark studies and our Hackett-Certified® best
practices repository from the world’s leading businesses –
including 97% of the Dow Jones Industrials, 89% of the Fortune 100,
70% of the DAX 40 and 55% of the FTSE 100 – captured through our
leading benchmarking platform Quantum Leap® and our Digital
Transformation Platform, we accelerate digital transformations,
including enterprise cloud implementations.
For more information on The Hackett Group, visit:
https://www.thehackettgroup.com/; email info@thehackettgroup.com;
or call (770) 225-3600.
The Hackett Group, Quantum Leap and Digital World Class are
registered marks of The Hackett Group.
Cautionary Statement Regarding “Forward-Looking”
Statements
This release contains “forward-looking” statements within the
meaning of Section 27A of the Securities Act of 1933 as amended and
Section 21E of the Securities Exchange Act of 1934, as amended.
Statements including without limitation, words such as “expects,”
“anticipates,” “intends,” “plans,” “believes,” seeks,” “estimates,”
or other similar phrases or variations of such words or similar
expressions indicating, present or future anticipated or expected
occurrences or outcomes are intended to identify such
forward-looking statements. Forward-looking statements are not
statements of historical fact and involve known and unknown risks,
uncertainties and other factors that may cause the Company’s actual
results, performance or achievements to be materially different
from the results, performance or achievements expressed or implied
by the forward-looking statements. Factors that may impact such
forward-looking statements include without limitation, the ability
of The Hackett Group to effectively market its digital
transformation and other consulting services, competition from
other consulting and technology companies that may have or develop
in the future, similar offerings, the commercial viability of The
Hackett Group and its services, as well as other risk detailed in
The Hackett Group’s reports filed with the United States Securities
and Exchange Commission. The Hackett Group does not undertake any
duty to update this release or any forward-looking statements
contained herein.
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Gary Baker, Global Communications Director - (917) 796-2391 or
gbaker@thehackettgroup.com
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