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Complimentary eBook

Oracle Order to Cash: 29 Must Have Capabilities

This ebook outlines the operational gaps left by the ERP and summarizes the necessary factors to consider while ERP Cloud integration.

CHAPTER 01

Executive Summary : A/R landscape is gradually changing Why is it better to buy off the shelf rather than producing in-house?

Why does ERP form the core?

ERP systems have been acting as the backbone of the business organizations since its inception. The executives feel relieved due to the fact that they need not maintain bundles of monotonous paperwork throughout their job life. ERP systems allow controlled flow of information which is used to analyze the various metrics and to enhance the workflows of the organization.

 

Native Capabilities: Good Enough for All?

Diverse needs that drive customization:

  • Industry-specific practices : eg, CPG industries run a lot of trade promotions and that results in trade deductions, so, the system needs proper TPM integration Insurance industry deals with a lot of intermediaries for A/R collections and cash application
  • Function-specific practices :  eg, credit managers work with a lot of different credit bureaus for credit scoring. Integration with all of the bureaus is complex
  • Function-specific practices : eg, credit managers work with a lot of different credit bureaus for credit scoring. Integration with all of the bureaus is complex
  • Company-specific practices :  A/R operations for business units and geographies might be decentralized or in shared services centers or in a central location

Oracle can cater around 70% of the business needs. This ebook outlines the rest 30% of the needs and how they can be processed with a customized cloud solution

CHAPTER 02

29 Gaps in Oracle to Plug Using Cloud Solutions

Cash Application

Is your ERP able to aggregate remittance, match the payments & identify the deduction reason coding?

Today, Oracle in Cash Application is able to:

  1. Support entry of invoices in payment batches
  2. Link the remittances manually through emails or customer portals
  3. Match the payments based on the predefined rules of invoice numbers
  4. Identify a 30 character long deduction reason code, manually done by an analyst

If you choose to integrate cloud with your native Oracle, you’ll get:

  1. Automatic extraction of remittance advice from the body of the email or attachments through email parsing engine
  2. Automatic extraction of EDI remittance advice through EDI parsing engine
  3. Automatic extraction of remittance advice from customer portals with the help of web aggregation engine which logs into the portal, navigates to the right page to get the information
  4. Auto-linking of payments with remittances, triggered by AI
  5. Reduced IT related costs
  6. System enabled deduction reason coding

Cloud integrated Oracle ERP ensures transparency, end-to-end automation & minimum number of exceptions

Payments/Billing

Is your ERP able to customize invoices, arrange for secure  payments?

Today, Oracle in Payments/Billing is able to:

  1. Present customized invoices to the customers
  2. Send multiple invoices to one customer through various methods
  3. The billing is based on billing frequency, billing day of the month, account type

If you choose to integrate cloud with your native Oracle, you’ll get:

  1. Initiation of the payment through integration with multiple payment gateways
  2. Simultaneous processing of credit card & ACH payments
  3. Double Tokenization which maintains the security while processing credit card payments
  4. Customization of invoices according to the customer profile

Cloud integrated Oracle ERP ensures a secure environment for presenting & processing payments

Credit Management

Is your ERP able to on-board new customers, check their credit worthiness & review their orders?

Today, Oracle in Credit Management is able to:

  1. Segregate the customers into categories through search filters
  2. Access the data while credit analysis process
  3. Provide access to only two users
  4. Collect credit information from D&B & credit applications
  5. Initiate periodic & ad hoc reviews by the customer
  6. Provide analysts with the authority to approve the credit limit

If you choose to integrate cloud with your native Oracle, you’ll get:

  1. Automated Online Credit Application form –complete information in one place
  2. Easy & faster verification from Bank & Trade references
  3. Acceptance of digital signatures
  4. Information from top credit bureaus & agencies such as D&B, Equifax, NACM
  5. On-time bankruptcy alerts
  6. System suggested credit limit upon which the analyst can take the final decision
  7. AI enabled prediction of Blocked orders

 

Cloud integrated Oracle ERP ensures faster onboarding of worthy customers, prediction of blocked orders

Collections Management

Is your ERP able to collect proactively from late paying customers, sending required emails?

Today, Oracle in Collections Management is able to:

  1. Analyze customer accounts & invoices
  2. Identify delinquent customers through the Oracle Advance Collections
  3. Calculate collection scores for the customers
  4. Make the managers choose from the predefined templates to send emails
  5. Make the managers decide the levels of dunning during correspondences or calls

If you choose to integrate cloud with your native Oracle, you’ll get:

  1. Prioritization of invoices occurring at both invoice level & customer level
  2. A prioritized worklist for the analyst who will get reminders to actions
  3. Automated prediction of customer promise-to-pays & creation of notes, tasks
  4. Automatic integration with the supporting documents such as POD, BOL
  5. AI enabled suggestions of whom to call or whom to send an email
  6. Customizable email templates based on the customer’s profile

Cloud integrated Oracle ERP ensures easy, proactive collections with satisfied customers reducing the write-offs

Deductions Management

Is your ERP able to aggregate remittance, match the payments & identify the deduction reason coding?

Today, Oracle in Deductions Management is able to:

  1. Create claims of various classes, reasons & claim lines
  2. Support mass raising of claims through claims import or claim API from a legacy system
  3. Manage wide range of discounts
  4. Process trade & non-trade deductions with proper customer data aligned to it

If you choose to integrate cloud with your native Oracle, you’ll get:

  1. Quick identification & Verification of claims & discounts of various categories
  2. Automatic capturing of remittances containing claim details & information
  3. Automatic integration with the TPM to process the trade deductions
  4. Auto-linking of the supporting documents to resolve the non-trade deductions
  5. The opportunity to raise pre-deductions which is a proactive approach to deal with deductions
  6. Easy communication through customized correspondences

Cloud integrated Oracle ERP ensures resolution of trade & non-trade deductions in a proactive manner

 

 

CHAPTER 03

Checklist to Evaluate Oracle Integration for Cloud Solution

While evaluating cloud solutions that integrate tightly with your Oracle ecosystem, these are the
parameters you should consider in your checklist before zeroing on a platform.

CHAPTER 04

Build vs Buy

Developing Customizations In-House vs Adding a Customized Cloud : The Best Option For Your Business

 

Time is the most risky investment in business
Is it better to experience slow work due to system malfunctioning? 
Is it preferable to wait till Oracle is completely customized?
It is better to invest in a cloud solution which will be customized at your needs with a relevant cost, without interrupting the workflow of the Order-to-Cash space
Data speaks for itself – Maximum of the customized ERP upgradations fail
It is favorable to deploy a cloud solution which is feature-rich as well as
flexible enough to work with

 

 

CHAPTER 05

About HighRadius

HighRadius is a Fintech enterprise Software-as-a-Service (SaaS) company. The HighRadius™
Integrated Receivables platform optimizes cash flow through automation of receivables and
payments processes across credit, collections, cash application, deductions, electronic billing and
payment processing.

Powered by Rivana™ Artificial Intelligence Engine and Freda™ Virtual Assistant for Credit-to-Cash, HighRadius Integrated Receivables enables teams to leverage machine learning for accurate
decision making and future outcomes. The radiusOne™ B2B payment network allows suppliers to
digitally connect with buyers, closing the loop from supplier receivable processes to buyer payable
processes.

HighRadius solutions have a proven track record of optimizing cash flow, reducing days sales
outstanding (DSO) and bad debt, and increasing operational efficiency so that companies may
achieve strong ROI in just a few months. To learn more, please visit www.highradius.com

HighRadius’ Integrated Receivables Platform

Integrated Receivables optimizes accounts receivable operations by combining all receivable and payment modules into a unified business process. The Integrated Receivables platform provides solutions for credit, collections, deductions, cash application, electronic billing, and payment processing – covering the entire gamut from credit-to-cash.

The HighRadiusTM Integrated Receivables platform stands out by enabling every credit and A/R operation to execute real-time from a unified platform with an end goal of lower DSO, reduced bad-debt, and faster dispute resolution while improving efficiency and accuracy for cash application, billing, and payment processing.

HighRadiusTM Integrated Receivables leverages RivanaTM Artificial Intelligence for Accounts Receivable to convert receivables faster and more effectively by using machine learning for accurate decision making across both credit and receivable processes. The Integrated Receivables platform also enables suppliers to digitally connect with buyers via the radiusOneTM network, closing the loop from the supplier Accounts Receivable process to the buyer Accounts Payable process.