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Tuesday, March 08, 2016
Slide 3 - Oracle Financials Cloud
Release 9
Slide notes
Hello, my name is Hari. Welcome to the Release 9 Training for Oracle Centralized Payments Cloud Payables Enhancements. In this session, we’ll cover
the Centralized Payments enhancements we have made in this release.
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Slide 4 - Agenda
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For the enhancements covered in this training, we’ll give an overview, followed by more detail to explain how you can use them, and what business value
they bring.
Then we’ll walk you through a demonstration and next we’ll explain what you need to consider before enabling these features in your business, and what
you need to know to set them up.
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Slide 5 - Enhancements Overview
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Let’s now look at what is centralized payments.
Centralized payments allows a single organization to process payments for invoices from multiple organizations. Wherever possible, the application even
consolidates multiple payments of a supplier into one.
Traditionally, various processes in a company with multiple organizations have been decentralized wherein all the activities like procurement, invoicing and
payment were handled independently by the respective organizations. However with growing importance to improve efficiency, processes have started to
centralize and they have come out with centers of excellence. One of the focus area has always been to centralize the finance operations where in the
payments are handled centrally to have a better control on supplier payment and thereby reduce the cost. Centralized payments handles such requirements
from the payables users.
Let’s go through an example to understand the feature better.
Your organization has operations in two different locations New York and Seattle with headquarters in San Francisco. Both these organizations procure
goods and services from a common supplier. Let’s say New York operations made purchase of 100 USD and Seattle Operations has made a purchase of
150 USD. In a normal implementation where activities are decentralized both the organizations would have made payments to the supplier separately for
the purchases made. However if centralized payments has been implemented it would be possible for the headquarters to make a consolidated supplier
payment of 250 USD on behalf of the New York and Seattle organization.
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This feature helps to have a better control on the payments being generated as the process is highly centralized.
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Slide 6 - Single Payment
Slide notes
Now we shall go through the enhancements made in the application to support this new feature.
In the Create Payment page when you create a single payment only the business units that are authorized to make payments are listed. You can select
invoices from any invoice business unit which has a payment service relationship with the payment business unit that is creating the payment. The Invoices
to Pay page has been enhanced to search invoices based on the invoice business unit. This provides added flexibility to selectively make payments for
sinvoice business units.
One of the important feature of centralized payments is the ability to make a consolidated payment to a supplier. As part of this feature now you can even
offset the credit/debit memo of one invoice business unit with standard invoices from a different business unit and then make a net payment to the supplier.
While making a consolidated payment, the application honors the default setups defined in the payables options for every invoice business unit. Taking the
example from the previous slide when headquarters makes a consolidated payment on behalf of the New York and Seattle operations, the setups defined in
the Manage Invoice Options page individually for each business unit will be taken into consideration. Let’s say the New York business unit is enabled for
interest invoices and the Seattle business unit is not enabled for interest invoices. While making the payment for overdue invoices for these organizations
application shall create interest invoices only for payments made for the New York business unit and not for the Seattle business unit.
As the payment service provider details are not stamped on the invoice the relation details are derived during payment runtime. This improves the flexibility
for the invoicing organizations to smoothly move from one service provider to the other without any concerns about the unpaid invoices.
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Slide 7 - Submit Payment Process Request
Slide notes
Similar enhancements have been made even in the payment process request.
While submitting a Payment Process Request you can now filter the invoices to be paid either by invoice business unit or payment business unit or both.
Only the payment business units accessible by the user are listed in this page. However the invoice business units listed in the page are those which have a
payment service relationship with the payment business units accessible by the user.
So, if you submit a payment process request with one or more payment business units as selection criteria then all the eligible invoices from invoice
business units which are serviced by these payment business units are picked up for payments. Alternatively if the All option is selected for the Business
Unit parameter then all eligible invoices from invoice business units that are serviced by the payment business units accessible by the user will be picked up
for payments.
Similarly the invoices to be paid can even be filtered based on the invoice group. The values listed for this attribute are filtered based on the invoice
business unit which have a payment service relationship with the payment business units accessible by the user.
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Slide 8 - Centralized Payments
Slide notes
Implementing Centralize Payments will result in multiple benefits. Lets discuss them in detail
Centralized payments can help you to streamline payment functions and automate your business process through the shared services model. This in turn
will help you to bring in responsiveness and improve flexibility in your processes .
By centralizing the payments, you would have better control over the supplier. You are less likely to pay a supplier out of one business unit when there is a
trade dispute in a different business unit.
Centralized payments enables a single window channel with a supplier for all payment related transactions and will result in effective communication with
the supplier. Timely payments and effective communication will to lead improved supplier relations.
In a traditional setup where multiple business units are implemented for processing supplier invoices, you would end up sending multiple payments to the
same supplier. This increases the transaction and administration costs. Centralized payments avoids such scenarios by setting up a single business unit to
process both supplier payments which will lead to a lesser number of payment transactions thereby reducing their related costs.
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Slide 45 - Summary of Enhancement Capabilities
Slide notes
Here is the summary of the features I have talked about today..........................
We have seen how to create a single payment and the changes made in this area to support centralized payments
We have gone through the enhancements made in payment process request and how the consolidated payments can be created from a payment process
request.
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Slide 46 - Slide 46
Slide notes
So that concludes the audio portion of this presentation, thank you for listening. There is no audio in the implementation advice section.
You can easily pause and rewind any of these slides if you require additional time to take in the detail.]
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Slide 47 - Feature Impact Guidelines
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Slide 48 - Setup Summary
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Slide 49 - Setup - Assign Business Unit Business Function
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Slide 50 - Set up - Manage Service Provider Relationship
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Slide 51 - Setup - Supplier Site Assignments
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Slide 52 - Implementation Decision Points
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Slide 53 - Job Roles & Associated Duty Roles
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Slide 54 - Business Process Model Information
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Slide 55 - Related Reports & BI Analytic Information
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Slide 56 - Related Reports & BI Analytic Information
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Slide 57 - Related Reports & BI Analytic Information
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