Slash Procurement Costs in R12 Procurement Process

Reduce procurement costs by cutting transaction overhead, controlling maverick purchasing, and realizing the entire value of your preferred supplier agreements.

Process Automation Lowers Transaction Costs – Transaction overhead accounts for a important share of the cost of procurement. Oracle iProcurement reduces the cost of thousands of procurement transactions by allowing the users to place thousands of orders for the products without costly intervention from purchasing professionals.

To help efficient processing, catalog content is maintained through a powerful online interface which generates real-time updates. This ensures the most up-to-date catalog information always exists to users when they browse in stores. Efficient and error-free transaction processing begins when vendors, buyers, and catalog administrators use powerful catalog maintenance they drive the real-time updates required to ensure accurate goods and pricing information. Once requisitions are approved, the intelligent workflow will automatically place the requested items on purchase orders and issue them to vendors.

Easy Single Point of Purchase Controls Maverick Purchasing – Maverick Purchasing is notoriously hard to manage because end users naturally route their purchases through the path of least resistance. But iProcurement is so convenient that it is actually easier for requesters to purchase through it than to go outside the system. By offering an easy-to-use single point of entry for all requisitions, IProcurement encourages requestors to use it every time. As former maverick spenders are drawn into using the system which guide their purchasing choices and captures detailed information on their purchasing.

Price Modeling and Compliance Realizes Preferred Supplier Savings – Pricing structures in dealer’s agreement can be so complex that savings from negotiated discounts unsuccessful in showing up correctly on purchase orders. iProcurement solves this issue with a formula-based engine which calculates the discounts based on complex price models. Pricing complexity is not shown from users, who simply see the discounted prices in their shopping carts.

Understanding the Oracle R12 Procurement Catalog and Catalog Schema

Oracle iProcurement and Purchasing have a single shared catalog data model which forms the basis of what can be more generally thought of as the procurement catalog which determines the various types of catalog content for your requesters can see and how that content is presented to them. The procurement catalog combines the features of previous catalog models and offers a number of significant capabilities and benefits as Catalogs are automatically and perpetually up-to-date and based on real-time data, Support for extensible base and category attributes to enhance the product data catalog. Oracle iProcurement users define base and category attributes for their specific requirements, and Support for price breaks based on shipping organization, quantity, and effective date range.

Understanding Catalog Schema – At a high level, the areas which define the catalog are catalog data and catalog schema.

Catalog data consist of products available for purchase. The associated prices for these items are also considered part of the catalog data.

Catalog schema is comprised of a combination of categories, category descriptors used to describe products in a particular category, and base descriptors which describe the product in the catalog.

The types of categories in the catalog that define the catalog’s hierarchy are:

  • Purchasing Item Categories, each product in the catalog must belong to a Purchasing Item Category which is recognized by many integrating Oracle Applications in addition to Oracle iProcurement.
  • Shopping Categories are used to group similar items for presentation to the iProcurement users and generally have names that are more shopper friendly than Purchasing Item Categories and are displayed significantly in many iProcurement pages to help requesters find what they are shopping for.
  • Browsing Categories is also known as navigation categories which define the category hierarchy which helps the requesters to browse for catalog items Browsing Categories can be either a parent or child to another category, but cannot contain any items.

The combination of categories and descriptors make up your catalog schema.

Creating a Purchase Requisition in Oracle Procurement Process

Purchase Requisition is a formal request intended to procure something which is required by the organization. This process is created and approved by the purchasing department which requires the products and services. It contains the description and quantity of the products to be purchased, bank account number, required a delivery date, and the amount of money that the department is authorized to spend for the goods.

Basically, requisitions are of two types they are Internal and Purchase Requisitions.

The Internal Requisitions are created if the goods are to be obtained from one inventory to another inventory location within the same organization. Here the source of the requisition would be inventory. There is no approval process for it.

Purchase Requisitions are created if the products are obtained from the external suppliers. Here the source of the requisition would be suppliers. The approvals are sent for purchase requisitions.

Requisition is divided into two parts: header and lines.

The header holds the information about the requisition that is related to all the lines where as the lines have the specific information about the item to be purchased. Then navigate to lines tab and select the item that you wanted to purchase and enter the quantity and need by date.

In the Source details tab, you can input detailed information. You can give a particular note to the customer which might give particular information related to this purchase. You can also add buyer’s name. Request for Quotation is required to check box denotes that the purchase of the item needs a request for quote.

Global is checked when a blanket purchase agreement for the entire organization exists for the item being purchased.

Owning organization displays the organization who owns the agreement and this is usually seen when an organization is using a centralized purchasing model.

How Oracle Fusion Financials can be Deployed

Oracle Fusion Financial is a unique tool for the proper financial management for firms. Its various modules like ledger accounting, Payable management, Receivable Management, Supply Chain Management, Cash Management help in running the processes in the firm in the most productive manner. Oracle offers 3 ways through which it can be deployed. List is as under.

  1. Public Cloud: Here Oracle Fusion Financial will be implemented with the help of Oracle Cloud service. It gives the user seamless experience of handling the processes. Its salient features are as below.
  • Highest level i.e. 99.5 % availability
  • It gives the virtual tenancy
  • Standard Disaster Recovery Mechanism
  • Strong Backup Measures
  • Good Production Climate
  • Updated interface
  • Flexible Capacity and Adaptation
  • Central control and monitoring

License can be issued for user’s name only and less customization option are available. It has to be upgraded if the user wants to make it compatible with other Oracle applications.

  1. Private Cloud: In this system the user gets in built infrastructure and data center from Oracle itself. User gets better visibility and control on the database and information posted in the system. Following are the unique features of this option.
  • There is no restriction of name user basis
  • It offers all the functions and processes
  • It can be upgrade and extended also as per user needs
  1. On Premise: In this option the users get the application installed in their own data center. It gives the extra edge because of the own data center management. It is so customized and high in demand in the market. User can go for personalized experience. One can manage the applications and modules form a central location. It gives absolute advantage for handling different business units and their transactions. One can give instruction to the other units in a seamless manner.

Third Party Payment in Oracle Fusion Financial Payables

Third party payment is that payment which a company makes to an external partner on behalf of its supplier. In normal cases only supplier is paid directly but if the supplier wants any specific party to be paid from the company itself, Fusion Financial Payable module helps in this too. Here the user will assign the third party to get payment on supplier’s behalf. Company gets the freedom in this module to define the reason of any such third party payment. For example a supplier becomes bankrupt and he is supposed to make payment to someone; in this case one request can be filed that all payments should be made directly to the third party. Another case could be where supplier has cash flow problem and request the company to make the payment.

Oracle Fusion Financial offers this feature at user level. It can be done from a central location for all the business units. There are certain terminologies used in this module which are very important to understand.

  • The supplier is said to be the Invoice Supplier in the system.
  • Invoice Supplier Site is the Suppliers site.
  • Remit-to Supplier is the third party who receives the payment
  • Remit-to address is the supplier’s site and it will be referred as third party.
  • There will be an agreement signed between all the parties for the payment; participating units will the supplier, the third party and buying organization.
  • The supplier issues a purchase invoice to the buying organization with remit -to details and third party.
  • The buying organization makes a payment to the third party

Oracle Fusion Financial is infused this new feature to meet the diverse requirement of the businesses. With this facility the user gets more freedom of handling their purchase, invoice handling and payments. Relationship with the supplier also becomes healthy and strong as a result.

Fixed Assets Overview

Assets management is very important in financial management. Right planning for the assets only leads to improved business productivity and performance. Oracle Fusion Financial offers various measures of Asset management features which are mentioned below.

  1. Asset Dashboard: In Oracle Fusion financial assets are managed from a central location. The user can monitor the details of incoming assets from multiple sources like Fusion Projects, outsourced agencies, Fusion Payables and see the value, depreciation, cost incurred, closing details etc instantly. It can also assign assets to multiple lines for making the right balances and checks. By handling the large volume asset data it enhances the productivity in the system.
  2. Drafting the Asset Information: Oracle Fusion Financial quickly acquires the multiple asset information and saves them in the draft so that the user can access the fact and figures immediately after logging in the system. It helps in keeping the track of all assets and beating the overloading of paper work. It is done from a central location to avoid closing from multiple pages.
  3. Draft Asset Retirements: In oracle Fusion Financial the addition of asset retirements are very quick even if minimal information is there. It captures the data until the full information is made available and eliminates the involvement of paper work at the office. It is also managed for a main location so there are no delays in closing the book.
  4. Report Making: The user can obtain the desired information for a particular entry in the system by different search options available. With this planning and execution become hassle free. Multiple reports can also be extracted for various sources.

Hence Oracle Fusion financial offers strong support for the asset management in the accounting book and user gets multiple options to choose from a variety of sources. Right decisions can be obtained on the basis of the findings.

Learning Management in Oracle Fusion HCM Application

Oracle Learning Management is a product of Oracle Fusion HCM family of application it is the best way for Oracle E-Business Suite customers to increase workforce performance, allow partner channel sales and service readiness, and improve revenue cost through training product sales to customers.

OLM is an enterprise learning management system that allows the organization to maintain, deliver, and track training participation in online or classroom-based environments. Learners can find the way of learning they need and take the learning in the most appropriate delivery mode. Executives can measure the effectiveness of learning activities and ensure alignment with organizational objectives. Learning Administrators can efficiently manage all the catalog objects, learners, and related resources from a centralized system. In total, turn learning into a business advantage with Oracle Learning Management.

Increase Your Workforce – Leverage a common, reusable framework for describing the learning objectives. Define competencies attained by the learner. Create certifications and learning paths to guide and control your workforce development and learning.

Tie Training to Organizational Goals – Measure the effectiveness of training initiatives.

Lower Costs through Online Learning – Increase a content player that delivers any web accessible content information. Deploy content to a global learning community. Distribute via forums, chats, and web conferencing.

Simplify Administration through a Unified Catalog – Create a unique catalog for online, offline, synchronous, and asynchronous learning. Support mixed learning and enable administrators to see the entities they make and directly edit their properties.

Increase Efficiency by Managing Learning Content – Collect and deliver learning content quickly, enable the reuse and assembly of learning content that makes use of multiple learning modalities and mixed media. Deliver the best online and classroom training.

Improve Solution Value by Providing Learning to Partners and Customers – It provides self-service access to learning for partners and customers. Retain the one stop administration and automate catalog distribution and enrollment for learning.

Benefits of Oracle Self-Service Human Resources in Fusion HCM

Oracle Self-Service Human Resources enables your workforce to update and use employee information through an online browser that is personalized to an individual role, work content, experience, language, and information requirements. By allowing employees and managers to access and maintain information and transactions in a paperless environment, you can streamline business processes, lower costs, and increase service. With employees and managers empowered to update and maintain their information, HR professionals can now move from being transaction processors to consultative partners.

Integrate and Streamline Your Human Resource Processes, Oracle Self-Service Human Resource is a part of Oracle Fusion HCM family of applications and integrates seamlessly with other HR applications including Core Human Resources, Learning Management, HR Intelligence, Performance Management, and Compensation Workbench.

The following are the benefits of the Fusion Self-Service HR

Work from a Unique Source of TruthImprove accuracy and timeliness by offering both employees and managers a single point of entry to all your human resource data and processes. Distribute workforce intelligence to those who need HR professionals, IT managers, and executives. Use embedded online advice to lower issues.

Information Drive Employee Self ServiceAllow employees to control everything from profiles including employee skills, contact details, resumes, bank information to learning, payroll, benefits, and other, through self-service portals. Authorize employees to manage their own data including employee profiles, expenses, benefits, and other in their language.

Empower ManagersAllow managers to perform transfers, employee training enrollment, skill searches, terminations, and much more. They even manage the recruiting process.

Support Career DevelopmentOffer employee access to targeted training and job opportunities. Permit the managers to graphically search for suitably skilled employees and make them work and enroll them in training courses.

Speed Processes with Workflow – Course information of any type according to user-defined business rules. Deliver reports, approval requests, and status messages to approvers in sequence via workflow. Support large numbers of transactions including legislative process.

 

Oracle Fusion Cloud Procurement Training

Oracle Fusion Procurement Cloud delivers significant capabilities for procuring to pay for indirect spend, supplier qualification management, sourcing, and contracts. With the upcoming improvements arriving in Oracle Cloud ERP for comprehensive supply chain management applications and direct fusion procurement capabilities, many of our customers are looking to adopt Oracle Fusion Cloud Procurement application. This process is intended to offer an introduction to Oracle Procurement Cloud and its capabilities.

ERPTREE is a leading Oracle Fusion Cloud Procurement Training provider. We deliver a wide range of training courses with a variety of trainers. We are proud to have helped thousands of students to learn oracle fusion applications and gain rewarding new careers. Our team is available to provide real-time and placement oriented Oracle Fusion Procurement training at our institute.

We have a team of Oracle Fusion Procurement certified trainers with ten plus fusion-cloud-procurement-coachingyears of experience. Our trainer has hands-on real-time Oracle Fusion Cloud Procurement project knowledge to advise students on right career paths and study program. Our trainers deliver real-life scenarios to student’s in the classroom, to gain knowledge and practice to significantly expand your skill sets. We offer a broad range of courses in the areas of Oracle Fusion Cloud Procurement application. We provide self-paced videos and instance access for learning at our training center by our experts.

At our ERPTREE, we are equipped with modern infrastructure and technologically advanced lab facilities. We have trained more than thousands of students who have progressed as professionals in the IT industry. We offer both online training as well as classroom training on Oracle Fusion Cloud Procurement so that you can choose the schedule as per your convenience. Our team is dedicated to delivering the best oracle training to achieve career goal with guaranteed placement support.

 

Oracle Fusion Financials – Overview

 

Oracle Fusion Financials is a holistic integrated financial management tool which can dramatically automate, systematize, and monitor the control of any firm’s financial management processes. Its range will be end-to-end. It covers a wide gamut of processes and applications that are totally combined and highly integrated. It is also termed as Gen-X Suites of software applications to integrate several modules such as Portfolio Management, Customer Relationship Management (CRM), Financial Management (FM), Human Resource & Human Capital Management, Logistics & Supply Chain management (SCM), Management & Governance, Inventory Management, and Procurement Management.

It encompasses the entire range of someone’s General Ledger (GL), Account Payable and Receivables, Asses Liability Management, Collection and Payments of Account, Cash and Non Cash Management.

Oracle Fusion Financial is compatible to work with different other Oracle Fusion applications like People Soft Application, E- Business Suite and many other ongoing application portfolio. This feature actually takes the business excellence to new height of performance. It provides standardization to business productivity and efficiency. Best illustration of this is Oracle Fusion Accounting where one can integrate the existing processes with Oracle Fusion Financial and add up innovations to meet specific business requirements. It enables the user to add third party feeder system so that multiple reporting needs can be fulfilled. It encompasses IFRS, US GAAP and other local statutory reporting necessities. Some useful innovations in it are Spreadsheet Collaboration, Extensive Dashboards, Excellent Analytics, Strong allocation engines etc.

It is a great interface where one can add several applications to achieve extra business leverage with the sharp service orientation. It decreases the IT expenses and increases the efficiency and productivity with improved results. One can make the information sharing more strong with Oracle Fusion Financial without disturbing the existing processes. Even it allows the user to integrate the data from Oracle and Non Oracle environments simultaneously.