Convergence of Cash
November 28, 2018
ActiveWorx, an OSG Company, transforms traditional invoicing by enabling businesses of all sizes to replace paper bills, statements, invoices, payments and documents with more efficient process automation. We go to market providing medium to large size business customers a secure, configurable, white-label, industry-leading Cloud solution.
To manage cash flow effectively, businesses must manage both assets & liabilities. It is increasingly important for the business to use its cash flow as a strategic financial tool within its business strategy to grow the business. The two sides to managing cash are the businesses sales and purchases resulting in its assets & liabilities.
The efficient billing and collecting of payments for goods or services sold is half of a commercial business’s cash equation, the other half is what that business owes for its purchases of goods or services from a supplier.
Today, ActiveWorx transforms paper based accounts payable processing and expense transactions, or what a business owes, by enabling businesses of all sizes to intelligently automate the capture, approval, reconciliation, payment, compliance and reporting of financial transactions.
By managing what you owe to suppliers/vendors more efficiently, you realize the benefits of standardization and financial content controls in your business operation to free up working capital and grow your business.
ActiveWorx’s technology is enabled through its ActiveOps platform. ActiveOps allows rapid deployment, is affordably operated and easily manages our proven financial applications. ActiveOps delivers the suite of business process automation applications to centrally managed, multi-location companies with unprecedented speed and efficiency. Through its highly configurable, on premise or Cloud-based software platform, this financial application brings the tools to automate paper-driven business processes faster and at an affordable cost. ActiveOps consolidates access to ActiveWorx’s suite of software products within a single web portal, enabling streamlined collaboration around business-critical content capture and management workflows. Team members have secure level access to the applications they need, all of which are configured with automated workflow rules that ensure follow up, compliance, and proper accountability for every transaction, communication and document. ActiveOps integrates to any ERP system. ActiveOps is powered by IBM’s Digital Business Automation FileNet and Datacap technology platforms to deliver a state of the art experience.
As technology market trends take hold in the financial operations industry, such as e-invoicing, robotic process automation, digital assistants, data accessibility and analytics, collaborative relationships will arise between payables and receivables silos to make more strategic decisions when payment data can be analyzed to allow procuring for inventory, business investment and to reduce purchasing costs. Senior leaders are looking for ways to leverage the investment made in managing cash flow and examining how those same as disciplines can be applied to both sides of the balance sheet to give the business an optimized cash state. Under a single cash view, businesses will have quick and readily available data to guide decision making, resulting in cash becoming a strategic tool for a business’s liquidity.
ActiveWorx is harvesting this trend of cash flow optimization into a single cash management ecosystem to manage both sides of the balance sheet. It all begins with the financial transaction. ActiveWorx is applying our proven process automation and efficient and secure Cloud technology infrastructure to usher in a new age of cash flow management realizing best in class enterprise business benefits.