Transformation of Order Management Service
The transactions of goods and services between enterprise service providers are often driven by contracts and purchase orders. It requires considerable manual effort by the service provider to process and manage them. Moreover, the invoice’s billed data may not be maintained in the same cloud system as the purchase orders. Sometimes the invoices may get into a dispute due to over exhaustion of allocated funds or billed to an expired purchase order. Hence managing the billing service is a huge undertaking along with increased cost. To address these challenges, we developed a financial services-based order management framework that transforms the monitoring of financial purchase orders in order to increase their renewals as well as decreases disputes. We illustrate our approach with some promising results on data of one of the world’s largest IT service providers.