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  • Ch09 Revenue Cycle

    Transféré par

    vinnieattack
    80 vues8 pages
    The Revenue Cycle consists of all events that are involved in the exchange of goods and services with customers. Excellent customer service must be provided at all times. A well controlled Revenue Cycle can provide a competitive advantage by providing superior customer service.

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    The Revenue Cycle consists of all events that are involved in the exchange of goods and services with customers. Excellent customer service must be provided at all times. A well controlled Revenue Cycle can provide a competitive advantage by providing superior customer service.

    Droits d'auteur :

    Attribution Non-Commercial (BY-NC)
    Téléchargez comme PDF, TXT ou lisez en ligne sur Scribd
    Signaler comme contenu inapproprié
    80 vues8 pages

    Ch09 Revenue Cycle

    Transféré par

    vinnieattack
    The Revenue Cycle consists of all events that are involved in the exchange of goods and services with customers. Excellent customer service must be provided at all times. A well controlled Revenue Cycle can provide a competitive advantage by providing superior customer service.

    Droits d'auteur :

    Attribution Non-Commercial (BY-NC)
    Téléchargez comme PDF, TXT ou lisez en ligne sur Scribd
    Signaler comme contenu inapproprié
    sur 8

    3/22/2010

    Chapter9

    TheRevenueCycle
    Preparedby KentWilson UniversityofSouthAustralia

    IntegratedProcessPerspective

    RevenueCycleOverviewand KeyObjectives
    Therevenuecycleconsistsofalleventsthatare involvedintheexchangeofgoodsandserviceswith customers,includingthecollectionofpaymentfor thosegoodsandservices Excellentcustomerservicemustbeprovidedatall times

    3/22/2010

    SourceDocuments
    1. Customerorder 2. Orderacknowledgement 3. Creditapplication 4. Salesorder 5. Goodspackingslip

    SourceDocuments
    (Cont)

    6. Billoflading 7. Shippingnotice 8. Salesinvoice 9. Remittanceadvice 10. Customerservicelog

    StrategicImplicationsofthe RevenueCycle
    Thelevelofsalesdrivesallotheractivitylevels withintheorganisation Inordertosurviveandprosperanorganisation I d t i d i ti mustnotonlyremainprofitable,italsomustbe abletoachievepositivecashflows Awellcontrolledrevenuecyclecanprovidea competitiveadvantagebyprovidingsuperior customerservice

    3/22/2010

    TechnologiesUnderpinningthe RevenueCycle
    ERP(EnterpriseResourcePlanning)
    o Improvestheintegrationofenterprise widedata

    EDI(ElectronicDataInterchange)
    o Enablestheexchangeofdatabetweentwoseparate computersystems

    TechnologiesUnderpinningthe RevenueCycle(Cont)
    XML(eXtensibleMarkupLanguage)
    o Usedforonlinesalessitestoprovideefficientdata exchange

    CRM(CustomerRelationshipManagement)
    o Improvesunderstandingofcustomersandtheir interactionwiththeorganisation

    DataandtheRevenueCycle
    Revenuecycleactivitiesrequireaccessto: o Customerdata o Inventorydata y o Accountsreceivabledata

    3/22/2010

    RevenueCycleBusiness Decisions
    StrategicLevel:
    o o o o Pricesetting Salesreturn&warranty Provisionofcredit Cashcollection

    OperationalLevel:
    o Respondingtocustomer inquiries o Creditextension o Inventoryavailability o Deliverymethod o Cashreceiptallocations

    RevenueCycleDocumentation

    RevenueCycleContext

    3/22/2010

    RevenueCycleLogicalData Flows

    RevenueProcessActivities
    Process Customer Order

    Ship Goods

    Receive& record payment

    Billthe customer

    ProcesstheSalesOrder
    Keyactivities: o Checkinventorylevels o Creditcheck o Createsalesorder
    Backorderforgoodsnotavailable

    Table9.3,p414summarisestheseactivities

    3/22/2010

    Pick,PackandShiptheGoods
    Keyactivities: o Pickthegoods oP Prepareforshipping f hi i o Deliverthegoods Table9.4,p419summarisestheseactivities

    BilltheCustomer
    Keyactivities: o Checksalescompletion oC t i i Createinvoice Table9.5,p424summarisestheseactivities

    ReceiveandRecordPayment
    Keyactivities: o Receivepayment oR Recordpayment d t Table9.6,p427summarisestheseactivities

    3/22/2010

    Measuringrevenuecycle performance

    OverviewofChapter9
    Theobjectivesandstrategicimplicationsofthe revenuecyclewereestablished Technologiesthatunderpintherevenuecycle activitieswereidentified Bothstrategicandoperationalbusiness decisionswereoutlined

    OverviewofChapter9
    (Cont)

    Theprimaryactivitiesintherevenuecyclewere identifiedanddiscussed Risksandwaysofmitigatingtheseriskswere considered TheimportanceofestablishingKPIswas emphasised

    3/22/2010

    KeyTerms
    o o o o Backorder CRM EDI ERP o o o o Exceptionreport XML Post billingsystem Post billing system Pre billingsystem

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