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Hackett® Redefines Software & Service Market Intelligence By Analyzing What Truly Matters – Value Realization
Hackett Excelleration Matrix™Concludes that Modern Customer-to-Cash Receivables Platforms Deliver Superior Value Realization
MIAMI & LONDON, March 29, 2023 – Modern customer-to-cash (C2C) receivables platforms deliver superior value realization and return on investment when compared to legacy applications, according to new Market Intelligence Service research from The Hackett Group, Inc. (NASDAQ: HCKT). Modern platforms offer improved cash flow management, better customer and employee experience, touchless capabilities and superior AI and analytics. Benefits include:
- 43% overall average performance advantage over legacy systems
- 87% positive customer experience
- 70% increase in touchless cash application for payment automation
- 63% reduction in past due receivables greater than 90 days
- 10x increased operating cash released from disputed receivables
- $107 million/year in additional operating cash (for a typical $10 billion company)
Ted A. Fernandez, Chairman & CEO of The Hackett Group®, explained The Hackett Excelleration Matrix™ research. “Our global clients, which includes 93% of the Fortune 100, cited a gap in provider insight around the realization of value from specific software and service investments. The Hackett Group is uniquely qualified to address this fundamental requirement in market intelligence due to our vast benchmarking database and implementation knowledge. We are pleased to issue our first Hackett Excelleration Matrix in C2C receivables – which will quickly be followed by a series of similar research reports covering software and services across the enterprise, including purchase-to-pay software and finance & accounting outsourcers.”
The C2C Receivables Hackett Excelleration Matrix and related research is the first from The Hackett Group’s new Market Intelligence Service. The service is designed to evaluate software and service providers’ ability to deliver value from specialized and differentiated capabilities. The Hackett Excelleration Matrix analyzes providers’ unique capabilities against the value executives can expect from their solution. Providers that offer breakthrough capabilities and incredible value realization earn the distinction of Digital World Class®.
Related to the C2C receivable research scope, The Hackett Group analyzed nine leading software providers in three key areas: cash application, collections management and dispute management. The research analyzed performance data in The Hackett Group’s extensive proprietary benchmarking database, software performance data from customers using the C2C receivables solutions, and interviews with the solution providers and end users.
The full C2C receivables research is available now to The Hackett Group’s solution providers, research advisory, and consulting clients through a new C2C Software Market Intelligence Program that provides a concierge level of insight into the C2C solution provider market. A summary report is available on a complimentary basis, with registration, at http://go.poweredbyhackett.com/c2csp2212sm. The full 70-page C2C Receivables Market Intelligence research is also available for purchase. Interested parties can learn more at http://go.poweredbyhackett.com/c2cspr2303 or by visiting the landing page for our Market Intelligence Service at https://www.thehackettgroup.com/market-intelligence/.
According to Chief Market Intelligence Officer Michel Janssen, “Over the last five years, companies have invested more than a billion dollars in modern C2C receivables platforms. Now, with interest rates on the rise and concerns over recession growing, working capital management is more important than it has been in quite some time. And the results are clear. These modern platforms integrate cutting-edge technologies such as data mining, artificial intelligence and machine learning to optimize the customer-to-cash process. Compared to legacy platforms, they offer improved cash flow management, better customer and employee experience, nearly double the level of fully automated transactions, superior analytics tools and more.”
Associate Principal and Global Customer-to-Cash Practice Leader Bryan DeGraw added, “Even among the modern platforms, there is a significant difference between solution providers in terms of their ability to deliver real value, cost reduction and business process improvement. Three solution providers demonstrate powerful automation features such as advanced automation, AI, predictive analytics, strong analytical tools and exceptional user experience, which simply drove higher ROI, earning them the distinction of Digital World Class.”
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 25,000 benchmark studies and our Hackett-Certified® best practices repository from the world’s leading businesses – including 97% of the Dow Jones Industrials, 93% of the Fortune 100, 73% of the DAX 40 and 52% 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.
More information on The Hackett Group is available at: www.thehackettgroup.com, info@thehackettgroup.com, or by calling (770) 225-3600.
The Hackett Group, Hackett-Certified, quadrant logo, World Class Defined and Enabled, Quantum Leap, Digital World Class and Hackett Excelleration Matrix are the registered marks of The Hackett Group.
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