What’s a Rich Text element?
The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.
Static and dynamic content editing
A rich text element can be used with static or dynamic content. For static content, just drop it into any page and begin editing. For dynamic content, add a rich text field to any collection and then connect a rich text element to that field in the settings panel. Voila!
How to customize formatting for each rich text
Headings, paragraphs, blockquotes, figures, images, and figure captions can all be styled after a class is added to the rich text element using the "When inside of" nested selector system.
- This is it.
Lead-to-cash refers to the end-to-end process from a customer’s initial interest in purchasing a product or service from you, all the way to the generation of revenue and cash flow for your company. Optimising your company’s lead-to-cash process is critical and can unlock benefits, including reducing costs while simultaneously increasing revenue and improving customer experience. In this blog, we will look at optimising lead-to-cash processes using the example of a telecommunications lead-to-cash process that Silico has worked on for a customer.
Who was the Telco client of this lead-to-cash simulation project?
For over a year now, Silico has been working with a large, multinational Telco to improve their lead-to-cash process. Initially, the project focussed on their order-to-cash process as part of a transformation initiative, using Silico as their order-to-cash software for process analysis. Due to its success, Silico’s engagement with the customer grew to include complex financial models and payment schedules to determine the cash flow of delivered orders and the lead-to-order part of the process. With these additions, Silico has developed a Business Process Simulation (BPS) model of the telecommunications lead-to-cash process for our customer. We are continuously expanding the BPS model for the customer to develop a Digital Twin of their Enterprise (DTE) step-by-step and with value generated at each iteration.
What were the main issues in this Telco’s lead-to-cash process?
A recent Research and Markets report characterises the industry environment for Telcos as challenging. Globally, Telcos face high investment requirements for new technologies such as 5G, stagnating revenues, macroeconomic pressures, and competition from new-age operators. To unlock the value of their investment in new technologies and ensure sufficient funding for them, Telcos must unlock value and efficiencies through cost optimisation measures.
Within this environment, our customer is transforming their global operating model. Their strategic goals include improving customer experience while simultaneously lowering their cost base. These goals also affected our customer’s lead-to-cash process. To develop a best-in-class telecommunications lead-to-cash transformation, the customer was striving to:
- Reduce order-to-cash lead times to move revenue forward and improve customer experience
- Predict delivery dates better to improve customer experience
- Automate and digitalise process steps to reduce effort and costs, and free up staff for value-adding tasks
Why did this Telco client come to Silico to optimise their lead-to-cash process? How does Silico compare to other lead-to-cash tools?
The customer quickly realised that the traditional tools used for process transformation initiatives – such as process mapping and mining – could not deliver the targeted benefits well and speedily. The customer had already established process maps and considered process mining. However, these were not value-generating for their transformation work. While process mapping presents them with an overview of their lead-to-cash process, it does not quantify the impact of any process change. While process mining can generate and quantify the existing process, it does not allow experimenting with forward-looking scenarios or alternative process structures. Moreover, it requires long collection periods to generate log files.
With Silico’s BPS methodology and Digital Twins of processes, the customer’s transformation team could make better transformation decisions, generate business value quicker, and leave tools to manage the process in place:
- The customer appreciated that Silico’s process twins could plug straight into cash flow and are, thus, able to quantify the impact of the transformation work on (financial) business outcomes. Moreover, the customer required forward-looking simulation capabilities to evaluate how process changes affect required FTE capacity. Analysing these helped the customer to make better transformation decisions that maximise the impact on strategic business objectives.
- Rather than spending six months collecting log files for processing mining, the customer embraced the speed at which Silico’s BPS methodology can generate value. Our team helped the customer build and use a BPS model in as little as four weeks, with iterative expansions to unlock additional value at each step.
- Process mapping and mining tools are only used by the transformation team. In contrast, Silico’s BPS twins can be used as decision support systems in the ongoing operations and management of the process, for example, by process owners. The Digital Twins help them, for example, to manage and allocate FTE capacity and inventories.
What were the steps taken to optimise the lead-to-cash process?
Silico has facilitated the transformations of the customer’s telecommunications lead-to-cash process using our proven BPS methodology to quickly generate value in the transformation and management of the lead-to-cash:
- Model the lead-to-cash process: Our team could use existing resources, including process maps and analytics, and transform them into a BPS model to create a working process twin in less than four weeks.
- Transform the lead-to-cash process to maximise transformation ROI: The process twin has been used to analyse the existing process and its capacity requirements to fulfil rising order volumes. We could identify bottlenecks that the customer’s lead-to- cash transformation team addressed, test their changes virtually to quantify their impact individually, determine the best combination of changes, and uncover unforeseen consequences that the team needs to address.
- Improving operational decisions: The digital twin estimates lead times and delivery dates of new orders with significantly higher accuracy than existing methods. We are investigating the use of the twin for FTE capacity requirements and allocations to improve customer outcomes further.
Outcomes of our lead-to-cash process improvement
Silico has significantly accelerated the customer’s lead-to-cash transformation initiative. Silico could build a simulation model of this telecommunications lead-to-cash process based on existing process maps and analytics in less than four weeks and with minimal effort and risk to the customer. The customer’s transformation team could test transformation decisions virtually by simulating alternative process structures to quantify the impact of process changes on costs, in-year revenues, and lead times. They could then select the optimal combination of process changes. Even after the transformation, operators can use the Digital Twin of the lead-to-cash process to estimate lead times and manage delivery dates with significantly increased accuracy.
Using Silico’s BPS, the customer’s transformation team could transform their lead-to-cash process and ensure that it achieves the Telco’s strategic objectives of simultaneously increasing customer experience and revenues while reducing costs.
Get in touch to discuss how Silico can help your company to transform its lead-to-cash process - move revenue forward and increase customer satisfaction while reducing costs! Or book a Silico demo below with our Order-to-Cash team.