Blog | Nov 22, 2013
Exploring the new dimensions - with release of R12.2
We all know that Oracle on September 20th 2013 had launched the new avatar of the Oracle EBS R12.2, which has raised many eye brows and created much curiosity in the ever changing IT world.
The R12 is not just more powerful and impactful when compared to its contemporaries but much simpler, informative and user friendly. Through this blog, my goal is to familiarize the readers with the new enhancements from a Functional stack perspective for Oracle financials and order management modules.
1. AP/AR Netting Batches- Scheduling: Earlier manual intervention was a mandate from a user to run AP/AR Netting batch. Due to high volume of daily transactions and invoices, users were not willing to run Netting batch on a regular basis but now in Oracle EBS Release 12.2, users can schedule the AP/AR Netting program to process transactions at regular intervals. This will benefit the user or the business by having a better track on the debts and at the same time help in reducing debt obligations without incurring bank charges by creating unnecessary payments and receipts.
2. Importing Payment Acknowledgement: This is a new functionality that has been added to Oracle Payments that allow users to import payment acknowledgement reports containing payment status for bank received payment files. Users can import multiple acknowledgments per payment and also review the acknowledgment details including bank reported errors and status. Now this will certainly add pace and allow businesses to manage their funds in the most competent and appropriate manner, again the payment process will be further simplified and ensure a smooth flow of funds.
3. Customer’s Tax Information: Information related to customers’ tax exemptions, registrations, reporting code & party tax profile, can now be imported & reviewed through the Customer Interface program. This enables users to save time and minimize errors as it is no longer a manual process. E-Btax now allows users to define tax rules to calculate taxes using null transaction attributes. They have added two new operators, ‘Null’ and ‘Not Null’ to specify whether a transaction attribute is allowed to be null during tax calculations.
4. A New Architecture: Transforming EBS Financials with Fusion Accounting Hub- It’s no longer a game of the top and bottom line for the corporations, what matters is the regular updates regarding every bit of change in numbers and that too in a simplified way. Here the role of integration of EBS GL with fusion accounting hub, will allow users to leverage new fusion general ledger capabilities, such as embedded ESSBASE (Extended Spreadsheet DataBASE) integration with real-time analytics, on-line slice-and-dice account analysis, making it easier to run boardroom financial reports, helping generate the boardroom financial reports with great ease. In short it will give users an exceptional financial control along with reporting and multi-dimensional analysis power on operational data.
5. Order Approvals: Simplified: In Order Management a new functionality has been added to simplify the conventional way to do order approval. Order management is now integrated with Oracle Approval Management (AME) to boost the utilization of the approval rules engine to determine the list of approvers for Quotes, Sales Agreements and Returns (RMA). Depending on the workflow design, orders are routed to appropriate list of approvers based on the rules in AME.
6. Order Information Portability: The Oracle EBS Release 12.2 provides more detailed information on sales order and delivery, which also enables customers to subscribe and receive notifications based on key business events subsequently. Earlier only contacts associated with the Sold to Customer on the sales order could view and track sales orders through Order Information Portal. But now this functionality has been enhanced to allow contacts associated with the Bill to Customer on the sales order to view and track sales orders through it.
The Order Information portability is integrated with FND Security to enable rules-based access to the summary and detail views of sales orders and deliveries. Altogether, it has improved the accessibility and availability options with users, to have a wider range of parameters for searching the desired orders with great ease.
7. Selling Services Differentiation: Beating the tough competitive attitude of the market by offering sale driven services, has always been a turning point for various companies. In Oracle EBS Release 12.2 companies can now offer subscription contracts in addition to extended warranties in order management. Now services can be defaulted or added up during order entry or automatically applied as a promotion when eligible products are ordered. Also schemes like single or multiple installment billing option is easily available at the order line level.
Let’s say some one selected billing schedules with multiple installments, now companies can choose to generate the invoice for the first installment from order management and subsequent installments from oracle service contracts, they can also generate invoices for all installments from Oracle Service Contracts.
Some feel the above information will push the companies to embrace the new technology to elevate their work to a new level and get greater grip over business rationalities. These enhancements not only help to ensure a smooth flow of the various business processes, strong integration with the Customers/Suppliers, but also allow users to have improved control over the Oracle ERP suite with R12.2 release.
This is a great value addition for the organizations who intend to keep pace with the ever-changing business world in a distinctive manner.