Hackett® Redefines Software & Service Market Intelligence by Analyzing What Truly Matters – Value Realization

Rhea-AI Summary

The Hackett Group has released a new Hackett Excelleration Matrix indicating that modern customer-to-cash (C2C) receivables platforms significantly outperform legacy systems. Key findings include a 43% average performance advantage, 87% positive customer experience, and a $107 million annual cash increase for typical $10 billion companies. The research analyzed nine leading providers, emphasizing cash application, collections, and dispute management capabilities. As companies invest over $1 billion in such platforms, effective working capital management becomes critical amidst rising interest rates and recession concerns.

Positive

• 43% average performance advantage over legacy systems
• 87% positive customer experience reported
• 70% increase in touchless cash application for payment automation
• $107 million per year in additional operating cash for a typical $10 billion company
• 63% reduction in past due receivables greater than 90 days

Negative

• None.

Hackett Excelleration Matrix^™ Concludes that Modern Customer-to-Cash Receivables Platforms Deliver Superior Value Realization

MIAMI & LONDON--(BUSINESS WIRE)-- Modern customer-to-cash (C2C) receivables platforms deliver superior value realization and return on investment when compared to legacy applications, according to new Market Intelligence Service research from The Hackett Group, Inc. (NASDAQ: HCKT). Modern platforms offer improved cash flow management, better customer and employee experience, touchless capabilities and superior AI and analytics. Benefits include:

The C2C Hackett Excelleration Matrix charts the value realization and breadth of capability for nine leading customer-to-cash solution providers. High resolution image available on request. (Graphic: Business Wire)

• 43% overall average performance advantage over legacy systems
• 87% positive customer experience
• 70% increase in touchless cash application for payment automation
• 63% reduction in past due receivables greater than 90 days
• 10x increased operating cash released from disputed receivables
• $107 million/year in additional operating cash (for a typical $10 billion company)

Ted A. Fernandez, Chairman & CEO of The Hackett Group^®, explained The Hackett Excelleration Matrix^™ research. “Our global clients, which includes 93% of the Fortune 100, cited a gap in provider insight around the realization of value from specific software and service investments. The Hackett Group is uniquely qualified to address this fundamental requirement in market intelligence due to our vast benchmarking database and implementation knowledge. We are pleased to issue our first Hackett Excelleration Matrix in C2C receivables – which will quickly be followed by a series of similar research reports covering software and services across the enterprise, including purchase-to-pay software and finance & accounting outsourcers.”

The C2C Receivables Hackett Excelleration Matrix and related research is the first from The Hackett Group’s new Market Intelligence Service. The service is designed to evaluate software and service providers’ ability to deliver value from specialized and differentiated capabilities.

The Hackett Excelleration Matrix analyzes providers’ unique capabilities against the value executives can expect from their solution. Providers that offer breakthrough capabilities and incredible value realization earn the distinction of Digital World Class^®.

Related to the C2C receivable research scope, The Hackett Group analyzed nine leading software providers in three key areas: cash application, collections management and dispute management. The research analyzed performance data in The Hackett Group’s extensive proprietary benchmarking database, software performance data from customers using the C2C receivables solutions, and interviews with the solution providers and end users.

The full C2C receivables research is available now to The Hackett Group’s solution providers, research advisory, and consulting clients through a new C2C Software Market Intelligence Program that provides a concierge level of insight into the C2C solution provider market. A summary report is available on a complimentary basis, with registration, at http://go.poweredbyhackett.com/c2csp2212sm. The full 70-page C2C Receivables Market Intelligence research is also available for purchase. Interested parties can learn more at http://go.poweredbyhackett.com/c2cspr2303 or by visiting the landing page for our Market Intelligence Service at https://www.thehackettgroup.com/market-intelligence/.

According to Chief Market Intelligence Officer Michel Janssen, “Over the last five years, companies have invested more than a billion dollars in modern C2C receivables platforms. Now, with interest rates on the rise and concerns over recession growing, working capital management is more important than it has been in quite some time. And the results are clear. These modern platforms integrate cutting-edge technologies such as data mining, artificial intelligence and machine learning to optimize the customer-to-cash process. Compared to legacy platforms, they offer improved cash flow management, better customer and employee experience, nearly double the level of fully automated transactions, superior analytics tools and more.”

Associate Principal and Global Customer-to-Cash Practice Leader Bryan DeGraw added, “Even among the modern platforms, there is a significant difference between solution providers in terms of their ability to deliver real value, cost reduction and business process improvement. Three solution providers demonstrate powerful automation features such as advanced automation, AI, predictive analytics, strong analytical tools and exceptional user experience, which simply drove higher ROI, earning them the distinction of Digital World Class.”

About The Hackett Group

The Hackett Group, Inc. (NASDAQ: HCKT) is a leading benchmarking, research advisory and strategic consultancy firm that enables organizations to achieve Digital World Class^™ performance.

Drawing upon our unparalleled intellectual property from more than 25,000 benchmark studies and our Hackett-Certified^® best practices repository from the world’s leading businesses – including 97% of the Dow Jones Industrials, 93% of the Fortune 100, 73% of the DAX 40 and 52% of the FTSE 100 – captured through our leading benchmarking platform, Quantum Leap^® and our Digital Transformation Platform, we accelerate digital transformations, including enterprise cloud implementations.

More information on The Hackett Group is available at: www.thehackettgroup.com, info@thehackettgroup.com, or by calling (770) 225-3600.

The Hackett Group, Hackett-Certified, quadrant logo, World Class Defined and Enabled, Quantum Leap, Digital World Class and Hackett Excelleration Matrix are the registered marks of The Hackett Group.

Cautionary Statement Regarding “Forward-Looking” Statements

This release contains “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933 as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Statements including without limitation, words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” seeks,” “estimates,” or other similar phrases or variations of such words or similar expressions indicating, present or future anticipated or expected occurrences or outcomes are intended to identify such forward-looking statements. Forward-looking statements are not statements of historical fact and involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements to be materially different from the results, performance or achievements expressed or implied by the forward-looking statements. Factors that may impact such forward-looking statements include without limitation, the ability of The Hackett Group to effectively market its digital transformation and other consulting services, competition from other consulting and technology companies that may have or develop in the future, similar offerings, the commercial viability of The Hackett Group and its services as well as other risk detailed in The Hackett Group’s reports filed with the United States Securities and Exchange Commission. The Hackett Group does not undertake any duty to update this release or any forward-looking statements contained herein.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230329005230/en/

Gary Baker, Global Communications Director - (917) 796-2391 or gbaker@thehackettgroup.com

Source: The Hackett Group, Inc.

FAQ

What did the Hackett Group's new research reveal about C2C receivables platforms?

The research indicated that modern C2C receivables platforms outperform legacy systems, with a 43% average performance advantage.

How much additional operating cash can a typical $10 billion company gain from modern C2C platforms?

$107 million per year.

What is the average positive customer experience percentage reported for modern C2C platforms?

87%.

What is the significance of the Hackett Excelleration Matrix?

It evaluates the value realization and performance of leading C2C solution providers.

How does modern C2C technology affect working capital management?

It enhances cash flow management and operational efficiency, which is crucial in a rising interest rate environment.