United Techno Wins Boomi AI Hackathon with Game-Changing OTC Innovation
At the 2024 Boomi Partner Hackathon, the competition was fierce, but United Techno emerged victorious by solving one of the most pressing challenges facing suppliers: streamlining the Order-to-Cash (OTC) process. Our AI-driven solution, titled “Cash is King: How We Reinvented the OTC Process,” was designed to optimize cash flow, eliminate inefficiencies, and revolutionize how businesses handle orders, payments, and customer satisfaction.
Cash is King: How We Reinvented the OTC Process for the 2024 Boomi AI Hackathon
Cash is king. And if you can generate cash faster, you become the kingmaker. This was the driving force behind our award-winning solution at the 2024 Boomi Partner Hackathon. Many suppliers face ongoing challenges in the Order-to-Cash (OTC) process, which impacts their ability to handle customer orders, manage payments, and ensure timely delivery.
Overcoming Common Supplier Challenges
In the OTC process, inefficiencies are common. Manual data entry, errors in purchase orders, and duplicate entries often cause operational disruptions, increased costs, and dissatisfied customers. These delays in order processing, incorrect invoicing, and slow payment collection can significantly hurt a company’s cash flow and profitability.
In addition, suppliers often struggle with system integrations, which hampers real-time tracking and reduces transparency. Without seamless integration, it’s difficult to manage and resolve customer inquiries quickly. Moreover, the lack of robust data analytics limits the ability to make informed business decisions.
Our Unique Solution
To address these issues, we developed an AI-powered solution that automates and optimizes the OTC process from end to end. Here’s what sets our approach apart:
- AI-Driven Data Extraction: We automate the extraction of data from purchase orders (POs) that arrive via email. Using natural language processing (NLP), our solution reduces the need for manual entry, minimizes errors, and ensures data accuracy from the start.
- Boomi Integration for Seamless Workflow: Using the Boomi Integration Platform, we digitize and store POs in a NoSQL database, ensuring smooth data flow between systems. This helps streamline order management throughout the OTC cycle.
- Flow Front End for Order Management: We’ve developed a Flow front end that allows teams to review, edit, and approve purchase orders before integrating with Stripe for invoicing. This ensures accuracy and compliance before orders proceed to the payment stage.
- Automated Invoicing with Stripe: We’ve integrated Stripe to streamline invoicing and payment collection. Stripe generates invoices automatically and supports multiple payment methods, ensuring timely payments and improving cash flow.
- Snowflake for Data Management: We integrated Snowflake’s Document Search AI to enhance data analytics and retrieval. This ensures that POs are easy to search, retrieve, and analyze, further improving data accuracy and efficiency.
- Real-Time Tracking with API Integration: To boost transparency, we created an API for real-time order tracking and status updates. Validated orders are stored in a centralized database, allowing easy access to up-to-date information and improving customer service.
A Modular Approach for Flexibility
Our solution can be delivered as an all-in-one platform or broken down into individual modules based on the customer’s needs. Whether it’s AI-powered data extraction, real-time tracking, or automated invoicing, we can offer each component as a stand-alone service or part of a complete system.
Here is the detailed video of our approach towards the solution
Why This Matters?
In a rapidly evolving business landscape, optimizing the OTC process is essential to staying competitive. By leveraging our AI-driven solution, businesses can streamline operations, reduce errors, enhance customer satisfaction, and accelerate cash flow.
Join Us on the Journey of Innovation
United Techno’s triumph at the Boomi AI Hackathon is just the beginning. Our OTC reinvention is poised to revolutionize the way businesses manage their cash flow and customer satisfaction. Want to explore how our solution can transform your OTC operations? Let’s discuss how our solution can help your business improve efficiency, reduce costs, and increase profitability. Contact us today!
