The OmPrompt Resource Centre
All you need to know about the OmPrompt solution in one place
We’ve got you covered.
OmPrompt isn’t a one size fits all solution. It’s a multi-faceted platform designed to serve different business needs across multiple sectors. Some companies may need one or various solutions to help them achieve the best ROI. To help you learn a little more about what OmPrompt can offer, find various guides below to help you understand what we do a little better.
Should you have any questions, we’re only a click away.
OmPrompt’s Project Management
To learn more about our build strategy, deployment and project phase timeline, click the button below.
The OmPrompt Business Rules Engine
Order management processes are continually evolving. Supply chain organisations need the ability to streamline processes on a global scale but have the flexibility and agility to manage regional and even customer specific processes.
Supported by machine learning our Business Rules Engine standardises, governs, and controls these transactional processes.
Ready-made rules, built for the task, are easily configured and give you the power to manage how data flows. From transactional compliance, to optimising zero-touch processing and exception resolution, this is much more than data extraction.
OmPrompt ERP Migration
Migrating ERP systems can come with a variety of problems, how you integrate with OmPrompt
should not have to be one of them.
At OmPrompt we have helped customers through this transition time and time again, and as such know the problems that can occur and more importantly, how to avoid them, we have outlined below our guide to a successful ERP Migration project.
OmPrompt provides platform monitoring and client support 24 hours a day, 7 days a week, 365 days of the year. OmPrompt’s Support Team covers all major
European languages for phone support and is capable of supporting documents of all languages.
OmPrompt Business Continuity and Disaster Recovery
Our Business Continuity and Disaster Recovery plans rely on a combination of no server room dependency, high availability shadowing and a multi-skilled team to ensure even if the worst occurs, your order management is protected
OmPrompt Reporting & Data
With full third-party integration, no matter your CRM or ERP, OmPrompt provides full data oversight with various reports tailored specifically to your business.
The OmPrompt Glossary
Getting lost in a world of acronyms? Don’t know your RPA from your P2P? Click on any term below to learn more!
‘Order management’ as a concept begins when a customer places an order and ends when that same customer receives said order. It lets the selling business coordinate the entire fulfilment process, from order collection, inventory, and delivery visibility, all the way to service capacity.
Depending on a company’s individual needs, the order management workflow can differ, but typically an order management process works in three steps:
A customer places an order. A member of the sales team confirms their details and then the order.
An employee within the warehouse (or wherever stock is kept) confirms delivery details, generates an invoice and completes the order (pick, pack, and ship).
- Inventory management
Stock levels are monitored as they vary depending on business demands.
OmPrompt is an Order Management Platform
OmPrompt is a lot of things actually, but primarily the platform exists to help each member of the supply chain manage incoming and outgoing orders.
In other words, it’s a digital way to manage the lifecycle of an order—OmPrompt monitors all of the information and processes, including order entry, inventory management, and fulfilment.
OmPrompt gives visibility to both the business and its clients.
Why your business needs an Order Management Platform
Nearly all systems and processes along a supply chain are affected by an order management platform, and most organisations cannot contain the order management process alone. Most involve multiple partners, making visibility and control of each order all the more difficult.
This results in costly and repetitive manual processes.
An order management platform like OmPrompt can help control costs while simultaneously generate new revenue by automating these manual processes and reducing the errors that come with it.
A claim relates to a penalty, fine or deduction imposed by a customer on their supplier due to one or more alleged fulfilment nonconformances of an order. This can be caused by:
- Unauthorised product shortages
- Unauthorized product substitutions
- Product quality issues
- Sell by date issues
- Late deliveries
- Early deliveries
- Invoicing discrepancies such as price
- Late, missing, or inaccurate documentation (such as ASNs, PODs etc)
- Incorrect pallet build (height, weight) or labelling (incorrect, missing, unreadable)
Claims for credit from customers is an all too common fact of life in supply chain. Shortages, damages and price discrepancies are just a few reasons why an invoice won’t be paid in full or on time. The volume of these claims, their diversity and the amount of time required by teams spent investigating and processing them is time, effort and money that you would rather see deployed elsewhere, preferably on preventing them in the first place!
Add in the pressure of having to comply with your customers’ claim processes, and you can see that the problems quickly mount up.
With negative impact on Days Sales Outstanding (DSO) performance, poor customer experience, and little to no root cause analysis, it can be hard to make things better when you are often just focused on trying to stand still.
How claims automation can help
By managing claims automatically, teams are able to gain visibility and spend more time challenging claims, performing root cause analysis, and improving customer experience.
OmPrompt features claim automation as part of the platform and is currently employed by a multitude of our customers. It works by digitising and extracting the data from the inbound claim in and automatically normalising and structuring the data. Claims can be tracked and managed in a web portal and linked to other documents and data sources related to the order for faster and easier investigation and resolution. Alternatively, the data can be passed to any system, such as an ERP or accounting software using OmPrompt’s flexible integration options.
If you are interested in learning more about how we help world-leading companies remove administrative tasks and contest claims faster, then read our claims automation case study, or get in touch with our team.
An ASN is an Advanced Shipping Notice, which is essentially an electronic communication from a vendor or supplier to the customer, letting them know a shipment has been created to match the purchase order (PO). Basic ASNs are the base level information of the PO (name, address).
Advanced ASNs can include data broken down into case/pallet level licence which can be embedded to include end customer, expiration dates, and country of origin.
ASNs are usually sent online as electronic data information (EDI) or extensible mark-up language (XML). It tells anyone who has access which items are shipped, how many of each item there are, and physical characteristics like weight, the number of boxes, and a description of how they’re packed.
ASNs also tell the customer which mode of transportation is being used to transport the items and provides carrier information.
How ASNs Improve Supply Chain Flow
Many companies have utilised ASNs with vendors for more than two decades and know their value well. For example, department stores require clothing suppliers to complete a “ship to/mark for,” which means the ASN label has already earmarked certain products for specific locations.
On arrival at the distribution centre, the box in which the items are enclosed is cross-docked directly to the intended store without needing to be opened again—reducing transit time to the shop floor.
Another way is packing cartons with assortment predefined at the ASN level. These cartons are then scanned upon receival and automatically redirected to a dispatch location, eliminating the need to pack-away, replenish, and pick the products, reducing labour costs and increasing processing speed.
ASNs are Flow Technology
Meaning, they reduce distribution time. Having the ability to move seasonal or fresh produce to customers in less time can make a massive difference to margins. We’ve noticed more and more a requirement of ASNs for all store/customer-level shipments within network and vendor direct deliveries.
This gives the ability to the same advantages for store-level locations, including improved visibility, streamlined receiving processes, and better appointment scheduling. Additionally, many businesses, along the supply chain, use ASN functionality for store returns back to the distribution centre. Reducing the time and labour involved to receive, process, and dispose of products.
ASN usage is becoming the standard way to share shipment data with customers. They’re an integral part of driving down supplier costs and improving collaboration with customers.
If you’d like to know anything more about how ASNs work, how they’re created, or how OmPrompt generates them, get in touch today!
B2B Ecommerce is the blanket term for all sales of products and services between businesses conducted online. As opposed to B2C ecommerce, which encompasses transactions between companies and their customers online.
B2B ecommerce transactions are more complex than B2C ones, as customer transactions usually involve a fixed price and lower quantities. In comparison, a B2B deal often includes a larger order and more complex shipping requirements. Additionally, B2B ecommerce transactions generally have more intricate tax and regulatory requirements.
This complexity makes the solution requirements and then implementation of said solutions an ever-changing and demanding sector.
The importance of B2B ecommerce platforms
Businesses not investing in digital channels fall behind the competition. Without a full transition into digital commerce, customers can’t compete, lose customers, and reduce their margins. Not transitioning operations into B2B ecommerce platforms can be incredibly costly.
Today, more than ever, and thanks to the pandemic, customers purchase online more than any other channel. This trend continues, as today’s generation, bolstered by the speed and convenience of online trade, will seek to do business online as opposed to in person.
What to Look for When Evaluating a B2B Ecommerce Platform
Does the platform accommodate:
- A move from physical to a subscription model
- Alters focus between enterprise and SMB customers
- Is complex, yet simple to use and configure
- Does it provide users with a single source of truth?
- Does it allow partner and reseller collaboration?
- Generate and automate accurate invoices
- Ensure a seamless and uniformed experience across all touchpoints
For more information on OmPrompt’s offering, and how it’s introduction can revolutionise your order management processes, get in touch today!
DSO stands for 'day sales outstanding' and works out the average amount of days it takes for receivables to remain outstanding before cash is collected. This number reveals the speed of cash flow and indicates businesses' profitability and efficiency.
The calculation for DSO is:
(Accounts receivable ÷ Annual revenue) × number of days in the year
For example, a retail business with £70,000 in their AR balance sheet and annual revenue of £1,000,000. The formula would be: (£70,000 / 1,000,000) x 365 = 25.5 days for DSO. This tells us that it typically takes that specific retail business 25 days to collect cash for its invoices.
DSO is a calculation CFOs and CEOs will examine to establish whether or not the company's credit and collection efforts are competent enough. Overall, it shows how SOON a company can reinvest the cash into its own business for continued sales and potential growth.
What is 'good' DSO?
There isn't a DSO number representing excellent or bad accounts receivable management, since the number alternates by industry and payment methods. Usually, any number below 40 is typically considered a "good" number.
Generally speaking, a lower ratio is more favourable as it means businesses collect cash earlier from customers and can use this revenue for different operations. It also reveals that the accounts receivables are functioning and won't be written off as debts.
A higher ratio may mean a company with bad collection procedures and customers who are unable or don't want to pay for their purchases. Companies with high days sales ratios are unable to convert sales into cash as quickly as those with lower ratios.
How OmPrompt can boost your DSO
OmPrompt provides a streamlined platform for order management by automatically creating sales orders from purchase orders. That way, you eliminate manual data entry while getting each order into processing with more speed.
A lower DSO means more profit and happier customers.
To find out in detail how we can boost your DSO number, get in touch today!
Order to Cash (O2C or OTC), is defined as the process covering the whole of the order processing system, from accepting an order to up until the point the payment is processed, and an entry is logged in your accounting system or ERP.
The order-to-cash cycle
Order management: The moment the system receives an order from a customer, the order-to-cash process begins. The order can be made of up multiple dorms, received online, through a sales call, over an email or on your social media platform.
Order fulfilment and shipping: This part of the cycle primarily applies to organisations dealing with physical goods, where the warehouse team is notified with the order details so they can proceed with procurement, fulfilment and then shipping. In cases of digital services or SaaS, this would be when you give access to the product or server for once payment has been completed.
Invoice and payment: Up next is the generation of an invoice. The purchasing customer will now receive an invoice for the order, which includes its details and information like taxes and applicable discounts. The best practice is to avoid offering too many payment options to minimise delays.
Account reporting: The order-to-cash cycle is finalised once the payment is logged within your accounting system as part of the accounts receivable against the raised order.
Streamlining the order-to-cash process with automation
To boost this process and limit errors, automation is the answer. Once configured, it hands off details and automatically triggers the next step in the process, removing errors and delays that come from human intervention. Automation also frees up staff to address more value-added work.
Benefits also include:
- Reduced day sales outstanding amounts, essential for improving cash flow
- Order-to-fulfil cycle times reduced
- Visibility of exceptions, for faster intervention and resolution, meaning less order-to-cash interruptions
Once a business creates the workflows, data format translations, and automates its OTC process, it's vital to keep an eye on the system's performance to see where it is meeting forecasts and where improvements can be implemented to improve efficiencies.
Small inefficiencies in one area can end up being much more significant downstream in the OTC process. Among crucial KPIs to monitor are: Days Orders Outstanding, Collections, OTC Cycle Times, and Exceptions.
OTC systems need to feature a critical component – the ability to extract data for benchmarking and reporting.
To encourage OTC automation, many organizations use OmPrompt, which integrates with existing ERP solutions. When used in tandem, the ERP and OmPrompt facilitate the day-to-day mission-critical tasks to transform AP operations by extracting data from printed/typed documents, eliminating duplicate data entry, and making it easy to retrieve data, review invoices, and push them along the AP workflow-automatically.
If you'd like to know more about how OmPrompt does this, get in touch with an OTC specialist today!
OTIF is an acronym, meaning On Time in Full. A key performance indicator evaluating supplier performance from a customer’s point of view.
Essentially, OTIF tracks the percentage of orders that are shipped on time in full, which means the customer gets everything they ordered, on the day they were meant to receive it. OTIF is a blanket term used to cover the supply chain as a whole. Therefore, as successful delivery is the final step, delivery OTIF will indicate the overall performance across the whole supply chain.
However, OTIF is also utilised at different stages along the supply chain, predicated by the activity it describes. There is “supplier OTIF,” “receipt OTIF,” “picking OTIF,” “despatch OTIF,” and “delivery OTIF.”
Although OTIF is used across the whole chain, when it is looked at as a whole, it corresponds to delivery. A distributor’s OTIF score depends on three vital components of the supply chain, all functioning as they should: purchasing, the warehouse, and the delivery operation.
How to measure OTIF performance
Although it depends on the customer base priorities, OmPrompt suggests a good way of measuring OTIF is according to the product type.
Many distributors we work alongside split their product lines according to sales:
1st lines are the most popular products, 10-20% of your range that make up 50-80% of your sales income. 2nd lines are the mid-range, the 20% - 25% of SKUs that compose about 20%. 3rd lines are the 60-70% of items that make up about 10-30% of revenue.
When measuring OTIF, should one examine the total percentage for all the stock, or should you split it down by the 1,2,3 classification? Some suppliers will only investigate the OTIF for their 1 and 2 lines, but others would say to calculate customer satisfaction truly, all lines should be measured.
A customer will be just as unhappy not to receive a best seller on time as not to receive one of the slower moving items.
What to do if you’re OTIF performance is low?
OTIF scores are the best way to measure supply chain performance. If your trending downwards, then you have serious issues to resolve. You need to delve into your warehousing, purchasing, and logistics operations to identify areas to improve.
Technology is the great enabler here. OmPrompt is an order management platform purpose-built to, among many other things, improve the OTIF score.
If you’d like to know more about OTIF scores or performance or chat with an expert on areas you can improve on today, get in touch!
"Procure to pay" is defined as the cycle in which a business requisitions, purchases, receives, and then pays for goods and services. It's an all-encompassing term that refers to the sequence of processes that occur during the procurement of a good or service, all the way to the final steps of paying for those goods or services.
The P2P process usually ranges from product discovery all the way through to accounts payable, in between you may find:
- Create a shopping cart
- Generate a purchase requisition
- Action and enable the purchase
- Generate the purchase order
- Receive the goods
- Check the order for errors
- Receive an invoice
- Process the invoice
- Pay the invoice
What is a P2P Solution?
Gartner says, "As its name implies, a Procure-to-Pay (or Purchase-to-Pay) system is a fully integrated solution designed to support an end-to-end process that begins with goods and services requisitioning and ends with ready-to-play files for upload into an accounts payable system. Procure-to-Pay solutions use a scan-and-capture service, supplier portal, and/or a multi-enterprise network to enable suppliers to submit invoices electronically. In addition to core e-procurement functionality (including e-requisitioning, approval workflow, and e-catalogue management), Procure-to-Pay solutions offer purchase-order-to-invoice matching and processing for invoices that don't match or when goods are returned."
Or put simply, a P2P solution presents suppliers products to users and the digitises. Automates and enhances the methodology mentioned above. It incorporates verification, control, and document management. Allowing companies to exercise greater control and improve their efficiency.
OmPrompt is one such solution.
How OmPrompt improves P2P
Improved process efficiency
OmPrompt automates each process meaning less workforce investment and risk with better performance
Visibility and control
By consolidating and aggregating data, OmPrompt gives you better insights and control overspending
Rather than investing time in repetitive and manual tasks, procurement teams can devote themselves to more customer-centric output like sourcing and strategy.
If you'd like to know more about OmPrompt's P2P solutions, get in touch with a specialist today!
Robotic Process Automation (RPA) might sound like the beginning of The Terminator, but really, these helpful process bots exist to automate operational processes throughout a business. They can learn to do specific tasks, and then repeat those same tasks without error. RPA bots rely on machine learning and AI to understand and contextualise data in order to automate properly.
RPA also takes advantage of Natural Language Processing (NLP) for better human interaction. In the supply chain, these robotic processes automate common and repetitive tasks, streamlining operations and removing human error. It also allows for faster scaling up, able to adapt to increased or decreased demand in real time.
How does RPA work along a supply chain?
Creating and processing purchase orders can be a significant administrative effort for suppliers, manufacturers, and retailers. RPA identifies needed inventory and then cross references that with actual stock. It will then automatically raise purchase orders that travel along a supply chain without the need for human interjection, only observation.
Additionally, organisations usually have questions to ask of suppliers and stakeholders further along the chain. These questions and requests can be fed into an RPA which combines with an NLP to parse, interpret and respond to these requests. This means faster turnarounds and more accurate responses.
RPA also generates a lot of data which can be analysed to pinpoint how processes can be refined, resulting in more efficiency, less waste and delays. When this is combined with predictive analytics, RPA becomes a part of a continual improvement process which streamlines the supply chain.
Long story short
- Through RPA, organisations will reduce administrative overhead, meaning lower staffing costs.
- Businesses along the supply chain can pivot their workforce away from repetitive tasks towards customer-centric activities that improve revenue and customer relationships.
- Stakeholders can adapt to demand, scaling up operations more quickly due to automated processes.
- Retailers can get stock delivered faster due to earlier identification of inventory needs that translates into timely purchase orders throughout the supply chain.
- RPA can eliminate human error and duplication in the supply chain, resulting in less rework, higher quality outputs and more streamlined processes.
OmPrompt offers both EDI and non-EDI solutions, but what exactly is EDI?
EDI means Electronic Data Interchange, and it’s the electronic interchange of information using a standardised electronic format. This process lets one business communicate with another electronically as opposed to on paper. These types of business entities are called trading partners.
EDI allows for more efficient collaboration and saves money across the supply chain by removing manual interventions and improving efficiency across order-to-cash and procure-to-pay processes.
EDI solutions are used to integrate networks of trading partners. Whether you’re trading with several SMEs or large companies internationally, EDI makes it easy to receive and generate transactions such as orders, advanced shipping notifications and invoices to name a few. So many more supply chain documents can be facilitated via EDI.
There are quite a few options available to companies to facilitate EDI, including in-house software, or via a service provider. Outsourcing EDI to a specialist provider has increased in popularity as onboarding time and ongoing costs can be significantly reduced.
EDI may sound complicated, but really, it’s a vehicle to standardise and simplify communications between trading partners. Retailers, suppliers, distributors, 3PLs (3rd Party Logistics) all benefit by exchanging relevant documentation in a governed and standardised way.
To do this different standards have been developed over the years to serve specific industries and geographies. Common EDI standards include ANSI, EDIFACT and TRADACOMS.
This translates into:
- Accurate data exchange with less manual intervention
- Increased automation, meaning fewer paper resources
- Better visibility of B2B transactions
- Stronger business relationships
How does it all work?
As an example, a retailer and a vendor are setting up EDI. The relationship is now set, and the retailer creates a purchase order in their system and sends it using a preferred EDI standard via their chosen order management platform (like OmPrompt) to the supplier. The document is translated into a format the supplier can use, validated, and sent securely to their ERP system. The supplier acknowledges the order in their ERP and the acknowledgment data is sent back across the order management platform. The format is translated from the suppliers ERP format into the retailers preferred EDI standard and ingested automatically into their system.
The sender and receiver both now have full visibility of the purchase order and its status from their respective viewpoints.
Now that process is completed, other options become available, such as using a platform like OmPrompt to share and receive both other EDI and manual documents.
In summary, EDI has replaced the paper exchange and maximised the efficiency of electronic consistency.
OCR (Optical Character Recognition) is a technology that scans and extracts information from incoming manual, unstructured and semi-structured documents into data that can be leveraged by the receiving organisation.
Simply put, it’s a way to turn documents such as those which are printed, faxed or shared as a PDF digital. The data processed by the OCR engine can be made editable and searchable. OCR isn’t new technology; it’s been used in Post Offices since the 1960s.
However, it’s usage and accuracy has gone from strength to strength thanks to advances in OCR extraction capabilities, AI and machine learning.
How does it work?
There are different approaches to use OCR but in principle, it can be distilled into two core techniques; feature extraction and pattern extraction. Each technique ultimately translates a picture of text into the text itself which can be then leveraged by software or by a human.
There is much less manual effort involved in typing or entering information manually into a system.
How OCR is used along the supply chain
Automated order management functions by turning traditional, paper-based processes into an electronic workflow. As a result, many costs are reduced or eliminated by removing the reliance on paper, stationery, equipment, and working hours needed to process customer and supplier documents manually.
In supply chain, many transactions are still manual and are not created and shared using EDI or other electronic means <HYPERLINK to EDI>. These can include customer orders, claims, supplier invoices as well as many other documents. OCR captures the information on these and turns it into data that can be leveraged and received into the organisations ERP system.
Supply chain entry errors can lead to incredible revenue leakage, and automation is how to avoid this entirely. OmPrompt uses OCR to accurately extract data from different manual, unstructured and semi-structured non-EDI supply chain documents across order-to-cash and procure-to-processes.
This is not the only technology in the OmPrompt Order Management platform to capture data from faxes, PDFs, spreadsheets, word documents and emails to name a few examples. OCR is very useful when the information is presented as an image. OmPrompt has other proprietary technologies used to avoid OCR where appropriate and take data capture automation, accuracy and efficiency even further.
Enhanced customer experience
A supply chain’s purpose is to transport goods efficiently and accurately from suppliers to retailers, and most importantly – customers. If anything slows this process down, it puts and organisations relationships (and therefore revenue) at risk.
To improve this relationship, customer service teams need the time to engage and strengthen relationships with customers. One of the best ways to empower CS teams is by tasking them with more value-added jobs, like resolving claims, answering questions, and promoting your brand.
An OCR enabled automated platform like OmPrompt removes almost all low-value tasks from the supply chain process, freeing up service teams to focus on these customer-centric activities instead of worrying about manual data entry.
Customer success stories.
Zero-touch sales order automation
World-Renowned Beverage Producer
The benefits have clearly been realised in terms of reducing admin errors, and building resilience into the team.
order automation to date
order accuracy increased to 99.8%
Growing order volumes, reduced headcount
World-Leading Water Brand
What’s exciting is how we’ve unlocked resource. We grew by just under 30% in two years despite our reduced team size. We couldn’t have done this without OmPrompt.
Sales order automation
Global Spirits Company
OTIF is a big drive for us, with OmPrompt we now have more time to focus on it.
increase in touchless order automation
reduction of manual data entry