{"id":2412,"date":"2021-01-12T10:25:14","date_gmt":"2021-01-12T16:25:14","guid":{"rendered":"https:\/\/www.aapaseaports.com\/?p=2412"},"modified":"2021-03-25T11:37:38","modified_gmt":"2021-03-25T16:37:38","slug":"guest-viewpoint-reducing-revenue-leakage","status":"publish","type":"post","link":"https:\/\/www.aapaseaports.com\/index.php\/2021\/01\/12\/guest-viewpoint-reducing-revenue-leakage\/","title":{"rendered":"GUEST VIEWPOINT: Reducing Revenue Leakage"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><em>By Martin Schmid, SAP<\/em><\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"400\" height=\"265\" src=\"https:\/\/aapw01.wpengine.com\/wp-content\/uploads\/sites\/8\/2021\/01\/Guest_Martin_400x265.jpg\" alt=\"\" class=\"wp-image-2413\" srcset=\"https:\/\/www.aapaseaports.com\/wp-content\/uploads\/sites\/8\/2021\/01\/Guest_Martin_400x265.jpg 400w, https:\/\/www.aapaseaports.com\/wp-content\/uploads\/sites\/8\/2021\/01\/Guest_Martin_400x265-300x199.jpg 300w\" sizes=\"auto, (max-width: 400px) 100vw, 400px\" \/><\/figure><\/div>\n\n\n\n<p class=\"wp-block-paragraph\">Order-to-cash is one of the key processes that port terminal operators are working to improve. They need an integrated and financially traceable order-to-cash platform, from terminal operation systems to financial systems.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Revenue leakage presents a major challenge to the port management industry, where some port terminal operators face leakage values of up to 10% of their revenues.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">However, technology can be used to reduce revenue leakage considerably, and it is one of the greatest growth opportunities for the industry.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Q. Which are the main causes of revenue leakage in this industry?<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Based on our extensive work around this topic, we can safely say that revenue leakage is caused by the same culprits across all enterprise organizations:<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">1. Lack of automation, where a lot of integration and transaction handling is done manually by people. Human error is a major contributor to revenue leakage.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">2. Lack of a fully integrated order-to-cash process.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">From a technology perspective, we need to remember that this industry includes many privately owned businesses that have been running on legacy systems for a very long time. These systems don\u2019t have the flexibility to help businesses evolve and launch new business models. In addition, this industry has seen a lot of consolidation through mergers and acquisitions in recent years. This has resulted in a large stack of siloed IT applications that present major challenges for the finance organizations trying to manage the business in a consolidated manner.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The complexities introduced by the integration of these multiple silos of operational and business applications, plus their inflexibility, has led to inaccuracy, inconsistency and lack of real-time financial visibility and traceability of the ship service lifecycle.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><em><a href=\"https:\/\/www.seaportsmag-digital.com\/aapq\/0420_fourth_quarter_2020\/MobilePagedArticle.action?articleId=1649029&amp;app=false#articleId1649029\">Read More\u2026<\/a><\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Martin Schmid, SAP Order-to-cash is one of the key processes that port terminal operators are working to improve. They need an integrated and financially traceable order-to-cash platform, from terminal operation systems to financial systems. Revenue leakage presents a major challenge to the port management industry, where some port terminal operators face leakage values of &hellip;<\/p>\n","protected":false},"author":30,"featured_media":2413,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[70],"tags":[89,617,626,618,628,627,158,157],"class_list":["post-2412","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-guest-viewpoint","tag-aapa","tag-aapa-ports","tag-martin-schmid","tag-port-management","tag-port-revenue-leakage","tag-sap","tag-seaports","tag-seaports-magazine"],"_links":{"self":[{"href":"https:\/\/www.aapaseaports.com\/index.php\/wp-json\/wp\/v2\/posts\/2412","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.aapaseaports.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.aapaseaports.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.aapaseaports.com\/index.php\/wp-json\/wp\/v2\/users\/30"}],"replies":[{"embeddable":true,"href":"https:\/\/www.aapaseaports.com\/index.php\/wp-json\/wp\/v2\/comments?post=2412"}],"version-history":[{"count":0,"href":"https:\/\/www.aapaseaports.com\/index.php\/wp-json\/wp\/v2\/posts\/2412\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.aapaseaports.com\/index.php\/wp-json\/wp\/v2\/media\/2413"}],"wp:attachment":[{"href":"https:\/\/www.aapaseaports.com\/index.php\/wp-json\/wp\/v2\/media?parent=2412"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.aapaseaports.com\/index.php\/wp-json\/wp\/v2\/categories?post=2412"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.aapaseaports.com\/index.php\/wp-json\/wp\/v2\/tags?post=2412"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}