ONLINE ORDER TO CASH NETWORK EVENT - FEBRUARY 28TH 2023

Thanks to all of you that were able to attend the first Online Order to Cash network event of 2023! 

After an agenda run through, we introduced Neil Chick who is our new Network Co-chair. We then jumped straight in at the deep end with a series of sli.do questions around investment in personal development, how this is managed, and if it is seen as standard practice in our businesses.

A summary of the results is as follows;

  • 64% of respondents confirmed they had a structured development plan in place. There were 28% that had no development planning in place at all
  • The key benefits of investing in personal development for teams was seen as;
    • Increased employee engagement
    • Supporting progression and succession planning
    • Improving staff retention
    • A big motivator for team members
  • The reasons for lack of investment in personal development was twofold; cost and time constraints
  • In terms of what the development looks like, the feedback was;
    • Cross training in other teams
    • Professional study and other external training courses relevant to the role
    • Continuous improvement initiatives and involvement in change projects
    • Use of a Skills Matrix to identify areas of development
  • Where businesses invested in professional development, these were typically CICM, CICP, AAT and Prince2

The group then broke out into smaller teams to discuss the question “What are the most important skills or qualities that successful order to cash professionals must have, and how can these be developed if expenditure for development is not available?”. Each breakout group shared their sub team discussion, with many of the slido themes being discussed in more detail with the broader group. It was felt personal development plans needed to be a core part of Shared Service teams, though some of the members experienced cost constraints , so there was an interesting discussion on the Skill Matrix approach and how this could be utilised to build a development plan that could support the individual, but with minimal cost outlay.

 The session then moved on to a fantastic presentation from Luke Sculthorpe, Head of Strategic Relationships at CICM. Luke presented “How to create an efficient OTC hiring process: What's the key to recruiting success in 2023?”  and shared what for CICM is best practice. This covered:

  • The current labour market landscape, the skills shortage and the economic factors impacting businesses in the UK
  • A detailed 7 step hiring process, including insights into creating the right job ad, pitching the role the right way, assessing the competencies required for the role and how to ensure you select the right candidate.

The full detail of Luke’s session is on SSF UK web site which I would encourage you to review as it contains some great information for anyone hiring into an SSC role.

There was also some interesting discussion on the financial support that can be obtained for younger people moving into the workplace, with Wales being used as an example where an element of cost can be picked up by regional government.

The second topic focused on the challenges being faced within OtC teams as we move toward a more automated workplace.  Well, this discussion was a really great topic for the group, and again generated much discussion from the membership.

This led us into the final slido question of the day which asked what the membership would like to focus on at future network events. Much of the feedback was on the automation journey for OtC, what this looks like and how we can share experiences. Other suggested future topics were a follow up on the Skills Matrix discussion as part of personal development, the use of KPI’s to track performance, and a follow up and governmental support for development of new starters into the working environment.

We encourage you to join us at Marks & Spencer Shared Service Centre in Manchester on May 23rd 2023 from 10am - 3pm for the face to face Order to Cash network event!!




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